Safeco offers three settlement options for RVs:
Actual Cash Value: Safeco will find similar RVs to yours to determine the current fair market value, which includes depreciation factors such as condition, prior accidents, and mileage. Once we set fair market value, that's the amount you'll get in a claim, minus your deductible.
Replacement Cost: This settlement option is available for new motorhomes and travel trailers less than a year old. In the event of a total loss, we will replace the vehicle with a previously untitled RV that is, to the best extent possible, identical to the one lost.
Agreed Value: When you start your policy, we will mutually agree upon a value for your motorhome or travel trailer. Then, in the event of a total loss, we will pay that amount minus any deductible.