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John Geisen · 05-24-2016, 08:43 AM

My auto and RV insurance is with GEICO. I found out the hard way that they use NADA depreciation schedule. I had to file a claim for damage to the tune of $12,000. I have $1,000 deductible. GEICO told me they valued my 2005 International CCD at $12,000 so they were about to total it. North Trail Collision Center worked with the insurance company and were able to get the value up to $15,000. So, for now I'm out of the woods but learned a big lesson. Once everything is repaired I may begin to look for replacement value insurance. However, I will have the issue of just having made a claim.

Hittenstiehl · 05-24-2016, 10:35 AM

I think one of the best things about this thread is the actual title.

It's a very interesting and strong industry that most of us don't quite understand.

Interestingly enough much of its mandatory to have and increasingly difficult to use.

I would shudder to add up the amount of money spent in each of our lives versus the claims.

Car Insurance Mandatory
Home Insurance Mandatory if mortgage
Health Insurance Mandatory
Life Insurance (Seems Necessary)
Disability Insurance (work)
Phone Insurance (really)
Plumbing ( house to street)

And the beat goes on.....(stepping off the box)

Ted S. · 05-27-2016, 08:45 AM

So circling back on this.

I was quoted $800 for the Foremost policy. Started asking questions. Found out there is no Replacement Coverage, its ACV. So I asked what the "ACV" is, they said between $70-$80k. I think they said that because they had the paper that showed what I paid for it which was $78k with all options. But the MSRP was $96k.

So here is the issue. I get into an accident at no fault to me. I have to get a new trailer, now they are $110k MSRP and I can't negotiate a good deal so I pay $90k.

The insurance company low balls it and gives me $50k. So I get screw $40k from an accident at no fault to me?

I put the brakes on the Foremost policy, they also have terrible reviews online. Sounded good but the flaws came out.

Anyone had advise for insurance in MA?

Thanks

jamimes · 04-24-2018, 09:52 PM

Quote:

Originally Posted by Ted S.

Anyone had advise for insurance in MA?

Thanks

Hi, Im looking at insurance rates here in MA, for my 77' MH.

Who have you gone with? Are you pleased?

Thanks
Jami

ROBERT CROSS · 04-25-2018, 06:15 AM

OK… let me start, in 2016 we lost our boat in a Storage fire, total loss. Agreed value policy with Foremost Marine, $55K. The boat, motor and trailer were 13 years old at the time of the claim.
All contacts with the Insurance company were by phone or email. The total loss of the building prevented any direct inspection to confirm the loss. The fire occurred on November 9, by December 15 a direct deposit was in my account. Any money that I didn't recover,(5K), was my own fault. I underestimated the replacement cost of the boat trailer and didn't include or have a listing for all the personal equipment that was in the boat at the time of the fire. The company did approve two amendments to the claim for a total of $58k. The premium for that policy was $580 per year.
Absolutely first rate customer service. BUT… when I got the premium notice for the new boat the annual cost went up about $600 on an agreed value of $65k. $1180/yr.
Noting that I was in no way responsible for the fire, I suspected that they felt I just may be a little too old,(75), to be tooling around in a “speed boat” and with one claim already in the books they were not going to take a chance….so long Foremost.
Contacted Global Marine Insurance, Geico accepted the agreed value, $538/yr.
Hull, motor & equipment $54500., Trailer $5500. Personal effects $5000.
A much more comprehensive policy with towing and all comprehensive liability coverages.

Lesson…do your homework, have a complete inventory, keep ALL records, (digital & paper)…don’t get old. 😂👍

Bob
🛥

POI...this is the new one.

**azflycaster** · 04-25-2018, 06:49 AM

Quote:

Originally Posted by jamimes

Hi, Im looking at insurance rates here in MA, for my 77' MH.

Who have you gone with? Are you pleased?

Thanks
Jami

The "value" of your motor home is going to be almost nothing unless you have it appraised and then get an agreed value policy. I have used FCIS in Iowa and been very pleased.

rodsterinfl · 04-26-2018, 09:44 AM

For most, the agreed value policy is the way to go. I spent hours on this learning the options. Really, unless the camper is new or almost new, there are only two options 1) bundled with tow vehicle or separate NADA-depreciation based policy or 2) agreed value policy. Only the agreed value policy pays a fixed value. The other one pays a depreciated value that zeros out at about 20 years.

Acheron2010 · 06-15-2018, 06:17 AM

My sincere thanks to all contributing on this thread. About to pick up my new Flying Cloud 26, and getting off the phone with GEICO with an unbelievable quote, I had to come here to get the straight story.
Thank you, thank you, thank you.
Armed with questions, I'll try this insurance stuff again.

Hittenstiehl · 06-15-2018, 07:48 AM

I remember reading this thread with interest also as the insurance industry seems to be a big puzzle too many of us.

Another thread of Interest which you might want to read that is ongoing now is:
"Totaled Interstate Evaluation".
It is more of an individual's journey (Maggie of Lily & Me) as they work through the insurance company after an accident. Lots of interesting and informative information in there about how Maggie is proceeding with the claims division.

Acheron2010 · 06-21-2018, 05:26 AM

Quote:

Originally Posted by Acheron2010

My sincere thanks to all contributing on this thread. About to pick up my new Flying Cloud 26, and getting off the phone with GEICO with an unbelievable quote, I had to come here to get the straight story.
Thank you, thank you, thank you.
Armed with questions, I'll try this insurance stuff again.

An update.
After quickly concluding that Geico does not really sell RV insurance, I gave a call to RV Advantage.. They have been serving the RV industry for years. As a broker, they were able to screen many different insurance companies to get me the best coverage for my tow vehicle, trailer, and Coach-Net road response.
Very easy to talk to, they immediately set my mind at ease with knowledgeable answers on liability (dog bites) collision (panel scrapes) and comprehensive (hail damage). Prices were of course a bit higher, but I am now more confident that I truly have insurance.

I recommend them.