Insurance for custom built van, Class B I'm looking to pick up a class B this fall and am investigating all options including insurance. I'm still deciding buy/build -...
Backstop replied:
You would be looking for an "agreed value" RV policy. Agreed Value means you and the insurance company are in sync on what the value is (usually by way of an appraisal or possibly something from the company that built it) and they price the policy based on that, and if you have a total loss you get paid that (minus deductible). Be aware that "stated value" isn't the same thing - you *state* what you value the RV at, which they use to price the policy, and if you have a total loss the insurance company **then** makes up whatever number they feel is right.
berksrunner72 replied:
USAA sent me to progressive, and I’m very happy with the rate and coverages. I set everything up via their website without any apparent issues. Ours is a promaster that we’ve converted. I think the issue here is that some people want to lock the insurer into an insane premium over and above the value of the base vehicle. Unless your work is VERY good, your conversion did not suddenly cause your vehicle to be worth 6 figures, and even if it is that good, no way are you going to be able to insure at that level — and if it truly is worth that much, you should sell it for that amount rather than using it!