BCM Community

We sustained some sustantial hail damage on our '67 MC 5A. We are preparing for the inevitable battle over it's worth. I thought I insured it for what it cost us. Turns out It's insured for "stated value"  which means they only have to pay "current market value"
ie: "actual cash value". As we all know, our toys are down alot in value and I'm afraid they might not give us even what we still owe. What I would like from the board is suggestions on how to provide the adjuster with "comps" or ?????  i'm unsure on how to proceed with proving it's worth.

            Thanks,  Don & Sheila

  You could do a lot of research on Craigslist and classifieds looking for generous asking prices.  Copy the links or print them out to have in hand when you talk to the adjuster.  Maybe you could get some RV professional to give you an appraisal based on replacement costs.

The insurance company will do 'comps'...look at what similar coaches are bringing. 
Typically, if the cost of repair is greater than 50-60% of their assigned value, they'll total loss the vehicle.
You may want to consider having the bus appraised.   Most appraisers are pretty liberal with value.  Most insurance companies will accept a bonafide appraisal.   That's a judgement call...it may not appraise for what you think is reasonable.   
The unfortunate thing about conversions is the value may vary widely, not neccessarily due to the quality of the conversion.
You may have a much better coach than a 'prettier' looking coach in an ad that's listed for half what you think your coach is worth.
Once it's all in, consider what happens with a total loss...the insurance company has the option of paying you and sending the coach to the auction yard, or letting you buy it back for about 25% of the value. 
If you like the coach, and wish to keep it, take what they offer and forget the roof...you cannot see up there anyway...?   
What sort of damage do you have?  Has it resulted in leaks?  If not...
Be advised that some motor vehicle insurance companies will require estimates before they cut a repair check.  If so, they may pay both you and the low-bid company.  Not all do this, but they can. 
The repair company won't endorse the check unless you have the work done by them.  This is a method to prevent the owner from skipping on the repairs and pocketing the cash. 
The value of a '67 MC5 is highly debateable...be careful...if you want the bus.   If you don't want it, let'em total the coach.   

JR