RV hail damage...write it off?
I've finally heard back from insurance and due to hail damage our trailer is a write off. We can take a pay out of $7700 which is fair value and be done with it or we have the option to buy it back from the insurance company for 20% of its value and then have them pay us out the rest. We would pay $1540 to them and then they would pay us $6160 and we keep the trailer. We could not insure it again for hail, fire, etc...
It is only cosmetic damage, the siding is all dented but really not too noticeable. We are leaning to keeping it and taking the $6100 mostly because if we just write it off we still need another 10k to buy what we really want.
If we keep it though does it have any value? Could we sell it again at a later date? Would someone else be able to insure or register a trailer that has been sold for salvage? Is there anything else I haven't though about?
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