No Agreed Value Insurance in Canada for older motorhomes?

[Sensfan]

After almost three months of contacting brokers and insurance companies, it appears that Agreed Value insurance for older motorhomes is not sold by Canadian Insurance companies. Starting next year, we will be limited to a policy that, in the case of a write-off, would use Blue Book values to calculate depreciation for our Class B that has been appreciating over the last number of years. At present, the difference between real market value and the Blue Book depreciated value for my 2012 RT appears to be between 50 and 60%.

Any ideas for a work around would be appreciated.

[mkguitar]

not unusual in the US either

many of us are in similar boat- my newer stuff is insured "correctly" to value


my antique stuff on specialty policies which restrict use and miles- but stated value, so good there

and my in-between stuff is way under-valued on insurance and the risk in on me

the work around is to cash out on that van and buy a new one the insurers like !

Mike


* we were visiting Family in Cantley May 21st when that storm hit.

our pleasure way served as galley for 3 households from morning coffee to bed time snacks
for some reason the only thing they put in our fridge was the wine...

[Sensfan]

Originally Posted by mkguitar

not unusual in the US either
many of us are in similar boat- my newer stuff is insured "correctly" to value
my antique stuff on specialty policies which restrict use and miles- but stated value, so good there
and my in-between stuff is way under-valued on insurance and the risk in on me
the work around is to cash out on that van and buy a new one the insurers like !
Mike
* we were visiting Family in Cantley May 21st when that storm hit.
our pleasure way served as galley for 3 households from morning coffee to bed time snacks
for some reason the only thing they put in our fridge was the wine...

Yah ... it is what is is.
And that was one scary weather system. Thank God for alcohol lol.
BTW ... we are under a tornado watch for later today here in eastern Ontario. Southwestern Ontario is under a tornado warning.

[ks@yvr]

You can get it in British Columbia from the Insurance Corporation of BC however it’s probably the highest insurance premium in Canada for general insurance as its government run and the provincial government also uses the insurance fund for dividends for other purposes besides insurance.