by Hunt Jones
More Great News! The Hagerty Insurance Company of Traverse City MI has finally created a long-awaited Agreed Value product for vintage travel trailers. This is similar to their well-known vintage
vehicle and boat programs. So now we have two companies providing Agreed Value Physical Damage for vintage trailers: Mostly Progressive through FCIS (Farm and City Insurance Services, Forest City IA) and Hagerty. The Progressive program was initiated in 2013 as indicated in The Blue Beret and Tin Can Tourist’s Tin Can Tales at that time but is not available in several states. Hagerty’s program is
available through FCIS too as well as their independent agents (see Hagerty.com. Choose Insurance then “Find local agent” and enter zip and radius). Their program will have a staggered state roll-out
throughout 2021 and is expected in the majority of the approved 48 contiguous states by the end of 2021.
Why is this important? Agreed Value Physical Damage coverage is the best you can get for your trailer. It is not dependent on depreciation, questionable or non-existent Book Value, claims mediation, or other factors for damage or a Total Loss. Check your current policy. If you see Stated Value or Actual Cash Value, you will be greatly disappointed if you have a loss, perhaps even no compensation. Unlike Progressive’s policy, Hagerty does NOT require an appraisal for any valuation. However, if you are more comfortable knowing your vintage trailer’s worth so it is neither over nor under-insured, arrange for one.
You assign your value and submit photos of the exterior and interior. Trailers must be 25 years or older in good or better condition, under active restoration, or newer replicas such as teardrops, TAB, Shasta,
Scotty, Bowlus. Vintage trailers used for business and motor homes are excluded as are trailers used outside the Vacation Coverage limit of 90 days/year, and full-timers. The minimum Agreed Value amount is $2000 and there is no maximum value. Hagerty will insure collections too. Garaged or barn kept is not a requirement for vintage trailers in non-coastal states or those valued at less than $50k. “Open House” events are covered under the policy’s Vacation Site inclusion. You can also choose from several deductions to defray the premium, but most policyholders elect zero to qualify for the maximum amount. Claims can be made seven days a week by phone, and repairs are at “owner’s discretion” either through Hagerty recommended shops, other shops, or yourself. Hagerty also has in-house parts specialists and parts chasers, a large database with Like Kind Quality, Original Equipment Manufacture, and New Old Stock parts for accident restoration. If the trailer is totaled, you have the first option to buy it back for a rebuild.
This new program can be used with your vintage tow vehicle covered either by Hagerty’s vintage vehicle insurance or your own current vintage vehicle policy. It also overcomes any difficulty you may
have had trying to obtain an approved appraiser if not with James Polk in California or Tim Heintz in Florida.
Call for questions and to check when your state becomes eligible, and a quote. Hagerty will retain your name, phone #, and email address for notification should your state not yet be active. Contact The Hagerty Service Center 1-888-220-9553 (special # for trailer insurance) 7 days or FCIS 1-800-331-1520.
Website access: https://www.hagerty.com/insurance/vintage-camper-trailer