Frequently Asked Questions

RecProtect is operated by Coburn Insurance Brokers, a family owned brokerage from Mount Forest ON.

Germania Mutual Insurance out of Ayton Ontario

The replacement value is the fair market value of the unit off the site, not on the site. This value cannot exceed the Bill of Sale price, plus any additions. If your unit is 0-15 years in age, you have the option to insure it for the replacement cost of a new unit.
Helpful sites and sources for determining value:
Bill of Sale plus additions
Any Dealership Site
AutoTrader
Kijiji

Coverage
Units 0-25 years coverage: Comprehensive. What is that? Basically covers everything but standard insurance exclusions- Earth Movement, General Maintenance, Wear Tear & Deterioration, War, Terrorism, Landslide, Damage from Birds, Moths, Rodents etc.

Units 25+ years: Named Perils. What is that? Basic Coverage- Fire, Lightning, Windstorm, Hail, Falling object etc.

Settlement Amount

Units between 0-15 years

Two Options for Settlement Amount: Replacement Cost or Actual Cash Value.

Replacement Cost will have no deduction for depreciation of any kind, this is conditional on insuring the unit for replacement cost of a brand new unit including taxes and any additions.

Actual Cash Value (ACV): The Actual Cash Value calculated at the time of the claim will be roughly equivalent to the current market value of a comparable used item, less any costs that would have made your item ready for sale.

Units 15 years and older

The settlement will be based on Actual Cash Value, which will be calculated at the time of the claim. The ACV will be roughly equivalent to the current market of a comparable used item, less any costs that would have made your item ready for sale.

If you entered in a value that does not adequately cover the replacement cost of unit, you will be left paying for a portion of the claim. It is crucial to not underinsure your unit to lower the premium. The limit on policy is the MOST the insurance company will pay to replace your unit in the event of a claim.

A Stand-Alone trailer policy will offer you the best coverage for the best premiums. For instance, a stand alone policy will give you the option for the following coverages which your auto or homeowners policy may not cover:
Replacement Cost
Flood Coverage
Contents
Premises Liability
Emergency Vacation Expense

Two Plans offered: Monthly Payment Plan or Annual Credit Card

No, RecProtect only operates within Ontario.

No, your homeowners policy liability would respond.