Insurance for Troopy Camper

Hi Peter
Thanks for your reply. It's registered as a "Toyota Caravan" and an agreed value is what I'm after. Would willingly get an independent valuation if that would get me a sensible result.

Have a feeling it was insured with CIL many years back but I went elsewhere, possibly because they wouldn't offer adequate cover.

The vehicle only does a 1-3k kms per year and is securely parked at home none which seems to influence either the premium or the amount of cover.

Cheers
Mark

Gnomey,

Motor Vehicle insurance in the dim distant past was always underwritten on the basis of current market value. As consumerism developed the open ended nature of the cmv method caused many arguments and complaints. Inevitably the insured would argue the vehicle was worth more than the insurer was prepared to pay (I know because I had to deal with the arguments). This ultimately resulted in the preferred alternative of agreed value ie a figure both parties could agree on before entering into the policy year. It then developed one step further and most insurers offer a full (new for old) replacement cover in the first few years of a new vehicle's registration. Only one insurer that I know of offers full new for old regardless of age (I have one).
Now times have changed again - insurers offer agreed value ie new value less an allowance for depreciation that often is less than the customer thinks his car is worth. As a result cmv is back in vogue because the current market value recognises appreciation and depreciation. One has to be prepared to argue his case when the loss happens though. It also means that an economic total loss can mean a car is repairable with much greater damage than might have been the case when it was insured for /worth less.

Caravans and the like are inevitably insured for an agreed value or specific sum insured and cmv isn't usually an option. Your vehicle sits somewhere in the mix and it is a matter of determining whether it is a modified 4wd or a camper/caravan with an engine. I doubt CIL will help much but the likes of Ken Tame who will go into bat for you might be the go.
Good luck with it.

Our OKA has been insured with Ken Tame at "agreed value" for 19 years. The "agreed value" has not varied more than 10% during that whole time. It is currently $150k.
They also offer a "guaranteed rating 1" premium which means the premium remains the same despite a claim (I have had one large one).
You must however be a member of the Campervan and Motorhome Club of Australia to get the insurance.
In the last few years, CIL have offered rates that were quite competitive.
Cheers,
Peter
OKA196 motorhome

Thanks again guys. Looks like the Ken Tame road needs travelling.

The big problem with CMV for Troopies is that they aren't being made and demand is strong for diminishing supply. I recently had a look at carsales and based on what is on offer the CMV of my vehicle is somewhere between 2 and 3 times what I paid for it. Hard ask for computer says. No rep is going to research beyond SOPs and get back with a realistic offer.

Cheers
Mark

Thanks for the suggestion Alby. Will keep it up my sleeve in case KT or CIL don't come through.

Cheers
Mark

I am building another OKA motorhome/camper. Shannons are not interested.
Cheers,
Peter
OKA196 motorhome