What happens if the vehicle damage is a total loss?

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Rest assured this is extremely rare, but is still a concern for all RV owners who host with Vancation. Understanding what is owed and how this is determined can give owners peace of mind. 

What will I be paid?

Vancation has partnered with a leading insurer. The insurer will cover the actual cash value of your RV, up to $200,000. 

How is the actual cash value determined?

The actual cash value establishes a baseline for your RV by reviewing similar RVs in your area. A baseline is established and adjustments are made based on variables such as:

  • Vehicle condition prior to loss 
  • Mileage
  • Customizations (save your receipts!)
  • Depreciation

What if I have a lienholder?

After the actual cash value is determined a payoff amount will be needed from your lienholder. If the actual cash value is higher than the owed amount, our insurer will pay off your loan and the remainder will be paid to you.

If the actual cash value is less than the amount owed, our insurer will pay the actual cash value to your lienholder, and the outstanding balance will need to be covered by you. In order to avoid this, we suggest finding out if you purchased GAP insurance to cover the outstanding balance.

Can I keep my RV if there is a total loss?

There are a few factors that will determine if you can keep the RV such as the extent of the damage, if you have a lienholder and what state your vehicle is registered.

Keep in mind that Vancation does not insure salvage title RVs, or RVs in New York.

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