travel trailer totalled

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PostPosted: Thu Jul 16, 2009 8:23 pm   Post subject: travel trailer totalled  

Travel trailer was totalled on a vacation. Freak accident going down the highway. No one was involved except our tuck and trailer. Insurance company wants to give us much less than what it is worth plus we need to pay it off, even though we don't have it. We have less than a year of payments left. They seem not to want to budge. We've done our research and apparently they have done theirs.


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anonymous1
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PostPosted: Fri Jul 17, 2009 10:51 am   Post subject:   

Quote:
Insurance company wants to give us much less than what it is worth
Based on what? How did you determine that they are offering less then your vehicles ACV (actual cash value?).
Quote:
plus we need to pay it off, even though we don't have it.
The insurance company does not owe you the payoff, they owe you only the vehicle (and/or trailers) ACV. If you owe more than the vehicle is worth, it's not the carriers job or duty to get you out of debt. If you have GAP insurance that will pay the difference in the 'gap' between the vehicles actual value, and what you owe..
Quote:
We have less than a year of payments left.
Ok, but what does that have to do with the value?
Quote:
They seem not to want to budge
Doesn't sound to me like there is a reason for them to.
Quote:
We've done our research and apparently they have done theirs.
Well, ok, what system did they use to determine the vehicle's ACV and what are you basing your value on ? How much do they say and how much do you say? What state are you in?


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Lori
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Lori
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PostPosted: Mon Jun 28, 2010 3:18 pm   Post subject: Travel Trailer totaled?  

A 75 foot tree fell onto our 39ft travel trailer. The damage is considered to cost over $2,000 of what we are insured, but $3,000 less than the average retail value according to Kelly Blue Book and NADA. Unfortunately, I without thinking, I insured the trailer for what we paid, not what it was worth, but I did not expect a tree to crush it within two months of having the trailer. My question, since the cost to fix the damage is not equal to the ARV, can the insurance company take the trailer if they determine it "totaled"? I was assuming since the damage was determined to be $3,000 less than the ARV that we would only exhaust our policy, not lose our trailer. We haven't even gotten a season out of our trailer, it is new to us, and it took us 3 years to find a trailer that fit both our needs and budget, I'm not ready to lose it. Is there anything I can do?


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livnlaf
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PostPosted: Mon Jun 28, 2010 4:35 pm   Post subject:   

If it is deemed a total loss, you have the option to buy it back from the insurer less the salvage amount.



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PostPosted: Sun Oct 09, 2011 7:17 pm   Post subject: salvaged travel trailer  

I purchased a travel trailer...was not told it had a salvaged titled. The owner gave me a clear title. Was told by DMV it was a salvage/branded trailer.



Do I have recourse against seller?



State: NORTH CAROLINA


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FRIED IN NC
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PostPosted: Mon Oct 10, 2011 4:34 am   Post subject:   

Quote:
Do I have recourse against seller?


First, see my sig.



Not really an insurance question but in most states, perhaps. A "clear" title is one without any liens. But it should also indicate if it's a salvage title. If it did not, why? As the DMV should have issued a salvage title. Does it appear that the seller was hiding this fact? If so, many states have laws against this and you may have a slam dunk case. You may want to report this to your States Attorneys office. You also probably have a civil case against this person.



I recent local (for me) article:



http://www.ksl.com/index.php?nid=960&sid=17575751
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PostPosted: Wed May 16, 2012 11:02 am   Post subject: Sell my totaled trailer  

Can I sell my totaled travel trailer bought back from ins. company to someone who wants to put it on their land for a cottage in another state?


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