NEED HELP INSURANCE PROBLEM

Klueck wrote:
Unfortunately for you, that is how insurance works. When we buy Rv's we need to understand they depreciate fairly quickly and if you don't put down a big down payment, you can easily become upside down. If you would have purchased replacement cost insurance, you could have avoided this problem. The trouble is, you have to know what that is before you can purchase it.

All insurance companies will total a vehicle if it is the less expensive way to settle the claim. That is not unfair, it's just the way it is and is actually talked about in the insurance contract. You can purchase GAP insurance on vehicles, but I don't know about rv's. That would have covered the difference between your loan and what you settle with the insurance company for. They do not owe you for more than the trailer is worth. It's called ACV (actual cash value), which is cost new, minus depreciation. New Rv's depreciate very quickly.

You do have the option of disputing the value they are putting on your trailer. Make sure they have the correct trailer and all the options are listed. There may be some negotiating room there, but likely not a whole lot.

Some people suggested you get an attorney. In my experience as a claim adjuster, I never found an attorney that cared about the damage to the vehicle...they were only interested in the injury claim where they could get some fees. So, I doubt many attorneys would be of much use, and the insurance company would not be phased by threatening to get an attorney. The only thing that would do is not allow them to deal directly with you after that. They only owe what is stated in the contract, which is ACV.

Sorry

As a retired Insurance Agent, I agree with everything you posted. Everyone thinks they can hire a Attorney and that will solve their problems. It will lighten their pocketbook and very seldom solve their problems. The Insurance Co. had much rather deal with a Attorney than a "irate" client. When you hire the Attorney, you give up all rights to negociate with the Ins. Co. The Attorney makes all decisions along with taking your money. The Ins. Co. knows what they are obligated to pay and will vary little from that number. If you could purchase the unit from the Ins. Co. and repair it yourself, you may be able to come out.