How do I value conversion for insurance?

[belfert]

I have comp/collision insurance on my conversion.  When I got the empty shell in April, it was already titled as an RV.  I simply told the insurance agent I was insuring a Dina Viaggio motorhome with a stated value of $36,500.  My yearly insurance renewal is coming up and I realized I need to raise the coverage on the conversion since it is worth more now with all the materials added.  (I'm not adding any value for the labor.)

How should I handle this increase in value with my agent?  I suspect my agent is going to start asking questions if I suddenly want to raise the value on my conversion.  I suppose honesty is best and hope they don't have a problem with bus conversions.

Brian Elfert

[Len Silva]

Most insurance companies have an "agreed value" policy which generally requires an independent appraisal.

Len

[Stan]

Don't tell lies to your insurance company. Any untruths willl result in an invalid policy if you have a claim. If your present company will not insure coverted buses, then you have to change companies. There are lots of suggestions in the archives for companies that do carry converted buses

. When youj reach the point of agreeing on a value have the company give you a list of appraisers that they approve of. You  will pay a one time fee for the appraisal but it will be a valid value for that date for as long as you have the bus. Keep the paperwork for any value added after that date.  Unless you get an expensive replacement value policy your bus will start to go down in insurance value(depreciate) from the day the appraisal is done.