The purpose of an automobile insurance policy in the event of a covered loss is to put the host, and thus their property, back into the same position they were in before the loss occurred, not better and not worse. 

Automobile insurance policies are set up to cover the actual cash value of a vehicle and its parts when covered damages occur, whether it has to be repaired or replaced, and whichever is the lesser of the two, in order to put them back in the same position they were in prior to the loss. 

When submitting an insurance claim with RVezy, the host may be expected to pay a betterment charge if the repairs required to be performed on the RV will put it in a better condition than it was before the damages occurred. The host will be notified about any betterment fees before the repairs are authorized.

The basis of settlement for any physical damage claim is Actual Cash Value (ACV). The value of the loss or damage will be based on the RV’s ACV at the time it was damaged. ACV is determined by attributing depreciation to the parts requiring replacement. Depreciation is calculated by considering the age and condition of the part(s) prior to the loss, with the intent of returning the RV to the same financial position it was in prior to the loss. Replacing a worn part with a new part results in betterment. The Owner will be responsible to pay the price difference between the depreciated (existing) parts and the new replacement parts. The Owner will be expected to contribute financially to the betterment of their RV in the event of a repair with new replacement parts.
In the event of a total loss of an RV, the determination of a total loss and the ACV of the RV will be determined by our partner insurer / appraiser.