Because of the ecomomy and other factors, our loan balance is greater than the worth of the motorhome. In case of a loss for whatever reason, is there insurance that can be purchased to cover the difference between the actual value and the payoff amount on the loan? I contacted State Farm and all they offer is a payoff feature that is associated with the loan, and it is not insurance. Our residence insurance covers actual replacement cost to build a new house of the same type and is routinely adjusted for construction costs and inflation. What is available for motorhomes?
