Posted 2019-10-28 8:27 AM (#172799) Subject: Trailer Damage
A tree fell on my Hart trailer. I am sick! I have been upgrading it over the past couple of years with new tires, hubs, brakes,awning, hot water heater, and LED lights. It’s a 1997 3 horse GN with weekend package. Perfect for me. I know insurance will probably total it.
Has anyone gone through something like this? I’m retired and cannot afford a new trailer. I probably won’t be able to find an older trailer as good as mine. Would I be able to swap out the new tires with used tires before they take possession? The awning was not damaged so could I take it off?
Posted 2019-10-28 8:41 AM (#172800 - in reply to #172799) Subject: RE: Trailer Damage
Sorry to hear about your incident. A couple of advice bits. For what it is worth, brakes/hubs/tires are considered maintenance and the insurance Co. expects you to maintain your trailer. But- receipts for those recent purchases may help prove your investment and that they were all in good repair.
The add ons like awning and water heater add value. Your next step is to get one a site like this and find a couple of comparable trailers to yours and have them available to show an adjuster. "Total" usually means the repair estimate is >70% of the pre accident value. So the two most important numbers here are what does it take to repair it? And what was it worth before the accident? I can share from the phone calls we field that insurance Cos. know next to nothing about trailer repair costs, nor values. It will be their responsibility to find repar costs. It will be up to you to make certain they have an accurate value (as in a comparable trailer you'll be happy with). And don't forget about location- saw an adjuster once base value on a very comparable trailer that happened to be 1500 miles away. When dealing with pre-owned trailers, freight is a consideration so calculate that in there as well.
This can work out OK for you, but it will require some work on your part to educate the adjuster.
Posted 2019-10-29 5:49 AM (#172804 - in reply to #172799) Subject: RE: Trailer Damage
TNpeanut- Having gone thru the process myself I strongly recommend you document any conversations you have with your insurance company. Ideally email is preferred so you have it in writing. I ended up sueing for the difference in value plus bad faith as they were screwing me around. They ended up settling for the full amount the day before the court date.
As the previous poster said, it is important to get comparables (keep in mind the pricing on horsetrailerworld.com is the sale price not necessarily the sold price. Local comparables would be preferred but if it isn't local the "payout" would include getting the comparable to you (delivery cost). If you have a trailer dealer near you, ask them if they can write something up as to the value of your trailer (you may have to bring it to them if possible and they may charge a nominal fee). It maybe worth it if the payout is substantially less than what you think it is worth. Good Luck