Snabag
Sarnia Ontario, Canada
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Joined: 10/25/2003
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I lost my motorhome in a fire and have been having problems coming to a fair value settlement with State Farm Insurance. Has anyone had problems with State Farm
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rv2go
Somewhere between Knoxville, TN and the coast.
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Joined: 12/26/2000
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This thread ran just a few days ago.
Mixed results/opinions.
Winnebago Journey
TN Lic. RV 2 GO
1995 2dr. Hard Top Geo Tracker
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I'm here #4335
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okgc
southern Michigan
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State Farm has always been more than fair with our claims.
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sootslayer
Central Pennsylvania
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Joined: 07/02/2007
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I have never had any problems with State Farm. Been with them for 30+yrs. And yes I have had a claim or two. Never with the RVs. Did have a problem with some damaged furniture in storage while building the new home. The underwriter adjuster, first turned down the claim. I said ok, but the local agent is who I deal with. Went into see him and he took care of it. I really think it depends on how much involvement the agent wants to get involved. I have a great one. I probably put one of his kids through school over the years with all the policies I have with them.. I don't do much shopping for price. I like to know who I'm dealing with one on one.
Hank
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chuckster11
Idaho
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Joined: 04/30/2004
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Snabag wrote:I lost my motorhome in a fire and have been having problems coming to a fair value settlement with State Farm Insurance. Has anyone had problems with State Farm
How are you determining "fair value" on your motorhome? That is the key to your question? If you have a lein, fair market value may not completely satisfy what you owe, especially in this environment where motorhome sales and subsequently, value has dropped substantially.
What you thought/think your motorhome is worth may not be correct.
I can see why any insurance company would take a second and close look at any total loss of a recreational vehicle right now--so many people are upside down in these units and/or cannot afford to use them that finding a way out of the debt or the burden might be more common than usual.
Please do not take the above to be aimed at you personally--you are caught up at the worst possible time to lose an RV--economic downturn, over burdened owners, end of season, etc. all work to make insurance companies leery of quick settlements. They know, as you and I know that what your motorhome was worth a year ago is substantially less than it is now.
Given the unsettled state of the economy, here or in Canada, how do we determine what a purely luxury item is worth?
I would be absolutely honest with the claims people but also direct--ask them where and how they determined the settlement amount--what information are they using. Commonly, an insurance company will use local market information for direction--they will try to determine what similar units have sold for locally--if your local market is as depressed as most local markets, it will work against you right at the moment.
Good luck, these kinds of misunderstandings are the side line consequences of economic conditions that are, I hope, only temporary, but very real at this moment in time--you may be caught in the worst possible time to suffer a loss when it is all said and done.
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Triker33
Homestead, FL
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Joined: 11/30/2002
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WOW! Just two days ago you was having a switch problem with your MH. If it was lost in a fire. Insurance may need more time to settle on price.
Hope your forcing the switch to work didn't cause the fire.
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RandACampin
Kathleen, Georgia
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Joined: 04/06/2006
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What are you considering a fair value settlement?
-rog
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Snabag
Sarnia Ontario, Canada
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Switch problem is with new motorhome I bought
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ArcticDodge
Sammamish, WA
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I have had two major claims in the last two years with State Farm. One was auto with 18k worth of damage I did and one was a crane hauling trees from the yard broke through my septic tank and fell against the house. Just signed off on all the work for that one this morning after $50k and 4 1/2 months of work. State Farm will collect from the crane company insurer for that one. I did did a rate increase for the auto claim which totaled $550 for the lose of rating and the deductible. $550 for $18,000 in repairs? got off easy with that one.
State Farm has been better than I could have ever expected!! Very fast and flexible. Maybe it helps that I have been using State Farm for 22 years and currently insure 6 items.
2009 Komfort 256TS Yamaha EF2400iS
2001 Dodge Ram 3500 QC 4x4 Cummins DRW
2001 Sebring Convertible
2005 DRZ400 - 2005 CRF150 - 2001 XR80
1 Wife  2 Boys 
1 Trixie (Bichon Frise)
Only 27 years to retirement!!!!
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Daveinet
il
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Joined: 10/29/2003
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You don't mention the age of your coach. The older the motorhome, the more difficult it is to determine fair market value, especially if you have invested anything to update or improve it.
In many ways, you may still come out OK. I have the exact opposite opinion to a previous poster about the timing of this. Its a buyers market. Since you have already bought a replacement coach, this could be a blessing, as this is a very hard market to sell anything.
Dave
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