[Tim]

Tommy, for my appraisals in the past I have gone to dealers who specialize in or have knowledge of my conversion.

I am not aware of anyone who specializes in providing appraisals of Prevost conversions probably because the market is not that big.

[Archived]

Thanks Jon. I switched my coverage to Explorer /Interstate on July 1st. At that time I provided a stated current value from Liberty in Stuart. They were very knowledgeable, efficient an a pleasure to work with. A few weeks later they requested an appraisal from a qualified appraiser on our coach. I searched the internet with limited success and received no return phone calls from those I attempted to contact. Explorer RV is now telling me that the agreed value currently in place will be dropped from my coverage effective October 1st if an appraisal is not provided. I am very disappointed how this is turning out, especially since they are a sponsor of PC. I will continue, albeit in vain, to search for what they are looking for but I’m a bit pessimistic and disappointed at this time.

[Peter]

10 years ago had agreed upon value set on my coach. The insurance company provided the appraser. The person they sent knew nothing about a bus conversion. It could of been a school bus and it would of made no difference. She took pictures and looked at overall condition, sent info to insurance company and they accepted the value I was looking for. I think they just want “eyes on” the bus to verify overall condition and that it is what the are insuring.

[Jonathan]

Tommy,

If Explorer wants an appraisal would’nt they provide a list (3) to choose from. The question is who is acceptable ?

If Liberty isn’t taken seriously as they probably sell more Liberty bus then anyone on the planet how could any one else be acceptable.

What a catch 22

AL

[Andre]

I used this service to appraise my 1965 MCI for agreed value for insurance.

I believe it was under $200 and it was 7pages with photos all sent to insurance
company by email. He never did a coach before and was within 5k of what I thought
as value.

They have agents around country, Tom was nearest to me in Fl, he came to coach in campground.

Jonathan Fine

1997 XL Royale # 201
“Fool’s Paradise”

[Archived]

As long as this presents an opportunity for a rant, I will take advantage of it.

Consider calling Explorer back and asking if they really are experts at insuring Prevost conversions, and if so how it can be they are unaware of the value of your coach, with or without an appraisal?

I am guessing between the internet Prevost listings there must be a sufficient number of ads for similar coaches, so send the agent an email with links to every single one of them. Since he probably thinks these are Winnebagos with stainless siding you are going to help him by providing him with the price range of every single comparable coach now for sale. I can assure you that is what any appraiser is going to do because if Explorer or an appraiser thinks they are going to get honest reporting of sale prices they are sadly out of touch with reality.

I also would ask them how it is possible to not accept Liberty’s valuation when they know the coach and the market better than anyone on the planet?

Anyone know what it takes to be considered an “appraiser”? Tom and I could do that in a New York minute and appraise anyone’s coach for double the dues.

[Archived]

Tommy, I recently switched to Explorer and got agreed value based on my one year-old bill of sale. They assigned my purchase price plus tax as the value, with no deduction for depreciation over the intervening year. Seems fair to me even though I could not replace my coach for the price I paid (since I’m such a shrewd negotiator and put a lot of work into it). If you can show Explorer what you paid plus what $$ you put into upgrades, you should be able to get that value without an appraisal.

Perhaps what is in play here is that the values of mid-decade used coaches seem to be rising due to short supply, as was recently discussed on another thread. If you took this into account to determine your replacement cost and are seeking agreed value greater than what you paid for the coach, requiring an appraisal does not seem unreasonable.

Jon, in most states, except for real property or business valuations, anybody whose opinion of value is accepted is an “appraiser.” There are private agencies which certify appraisers and add credibility, but typically no license or certification is required.

[Richard]

Thanks for all the feedback. I have provided Explorer RV my bill of sale as well as the current value from Liberty. Will call them back tomorrow (after I cool down) and try to have a rational discussion about where we are. Jon that is way to good of you, however I cannot have you do the appraisal for double my dues. Should I not be convencing with Explorer RV tomorrow I will pay you triple dues and a large bowl of shrimp & okra gumbo with a side of potato salad.

[Archived]

In 2013 I had the same issue with National Interstate. My agent, Garden State, sent me an email that year saying the average value of 2006 Prevost conversions that year was $574,000 and that that value was decling $97,000/year. They gave me the name of an appraiser in Arizona. I called them and told them what I had and the fellow said and how long is that trailer. I new then we’d have problems. If you take Garden City’s value of my bus today it would be around $375,000 for a 2006 H3 Millennium that has many many upgrades.

A friend had just insured his coach with FCIS. I called ( (800) 331-1520) and they were great. They gave me the agreed upon value (that Millennium had provided and which Garden City said was biased). And they were less expensive.

[Fred]

My understanding is it’s not the Agents fault, the Insurance Companies make the rules.

[Peter]

It’s not the agents. It’s the underwriters. I insure vintage vehicles with an agreed value on several fronts from my bus to cars, motorcycles, airplanes and even my boat. They all require an appraisal or photos to insure at an agreed value above the “book” value. I’ve gotten used to it and am not offended. I suppose that if they weren’t careful about what they are insuring a person could place an inflated value on a junker and then sell it to them.

[Archived]

I have agreed value and my bill of sale was sufficient. At some point in the future I am going tobe asked for an appraisal. My first choice would be Liberty because nobody else knows the market for Liberty coaches better than they do, but if the insurance cmpany won’t accept their expert opinion it forces me to just get a bogus appraisal for a value I want from someone with a presence in the business. Wouldn’t it be better if the underwriters understood our coaches well enough to accept legitimate appraisal values?

Not too long ago when the market was severely depressed depreciation was breathtaking. Today the market is healthy and many in the business of selling coaches lament the lack of coaches for inventory so as a result we are seeing values holding firm, or if there is depreciation it is much less than normally expected. With todays market I seriously question $97,000 per year depreciation on a 2006 coach. That is significantly overstated.

[Archived]

I got my appraisal from Dave at the Motorhome Exchange for my Legendary about a year ago. I used Explorer and they had no issue with his numbers. I simply sent them the invoice for our new one from Liberty, and again, they said that was ok.

Maybe check with Dave to see….

[Dick]

I can understand an agent or even an underwriter struggling to understand the value of all motorhomes 40′ and over. The ranges of values must be breath taking.

But something as homogenous while yet unique should be fairly easy to appraisal, easy enough that an a good underwriter should be able to do a good inhouse, desk appraisal in a few hours. The biggest problem I could see is getting a handle on condition … it is a junker or does it look like Jon’s or Tom’s or Peter’s coaches.

Provide the owner with a list of views for the pictures, obtain original bill of sale, obtrain invoices for work done since purchase, review four or five web sites to determine asking prices, call three or four trusted dealers/brokers, for their opinion, and I could have the value good enough for insurance purposes. Nothing that a skilled insurance underwriter couldn’t do.

The biggest challenges in appraising motorhomes and coaches are (1) knowing and understanding the difference between an eight year old coach that has had progressive maintenance or had everything zero’d out in the six months vs a coach (to use an airplane term) that is completely “run out” and (2) getting reliable, accurate information on the condition, maintenance status, and sale price of the coaches sold.

In real estate this is pretty easy to do. But with so many things (coaches, airplanes, boats, machinery, etc.) all of that is hard to come by.

[Peter]

Tommy,

How is the appraisal adventure doing ?

AL