Re: [A/S] insurance question

[Max Hicks <maxhicks@xxxxxxxxx>]

Jack. I don't know first hand what Foremost does
today. I do know that in the past, they would
depreciate sheetmetal. As an example, if you had a
segment replaced, that cost $300.00 for that part, and
your Airstream was 5 years old, they would depreciate
that part 50 percent. The question was "how can you
depreciate metal." They never answered that question,
but evaded the issue. Perhaps today, they have mended
their ways. Sheetmetal cannot be depreciated, based on
the fact that it does not have a "life expectancy."
Depreciation is applied to items because of fair wear
and tear as well as life expectancy. Depreciation is
never applied to the age of a car, truck or an RV.
But, loss of value does, because of it's age. On the
other hand, when something becomes a classic or
vintage or a collectors item, such as the older small
Airstream trailers, like the Bambi and Caravelles,
then "all" the rules of insurance becomes useless,
because there is no "standard." It then has a value
based on "the market." We can thank the antique
collectors for making that possible. 
"Vintage" is characterized by excellence and lasting
popularity, and "antique" is an object made in an
earlier period. So, with the older Airstreams, do we
have an "antique" or "vintage" or is it a "vintage
antique?" Who cares, just so it becomes worth more
money, as they do. After all, that's part of the
American dream, which is to keep something so long,
that it becomes more valueable in dollars. To bad
though, IRS won't let us make our old Airstreams, a
part of a 401K. Hmmm.      Max