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Old 03-02-2016, 10:23 AM   #43
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2005 28' Classic
Moutain Center , California
Join Date: Feb 2015
Posts: 27
My husband has always buy a new vehicle and it's worth the most in the beginning...then as the years go by the insurance costs go up and up, even though the vehicle goes down in value. What's with that? When we asked our insurance company, they said that their costs go up. Yeah, right.

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Old 03-02-2016, 11:20 PM   #44
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1968 22' Safari
Tulsa , Oklahoma
Join Date: Oct 2015
Posts: 80
For what its worth, here's an interesting site:

As an ERISA attorney, I deal regularly with many of the companies identified on that site. From my experience, a lot of what it says is true. Not all (in my experience) but a lot.

That said, and in the interests of full disclosure, the automobile insurers referenced on that site are rarely on my radar - I do few (if any) car wreck cases. Nonetheless, based on the practice I had many years ago and the incessant whining from my colleagues that auto wrecks, my advice to clients is "Don't buy auto insurance from any company that has the word(s) "state" or "farm" in its name(s). Bad juju. In my experience.


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Old 03-03-2016, 08:08 AM   #45
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1958 22' World Traveler
Nashville , Tennessee
Join Date: Dec 2015
Posts: 47
Originally Posted by CJ Winch View Post
My husband has always buy a new vehicle and it's worth the most in the beginning...then as the years go by the insurance costs go up and up, even though the vehicle goes down in value. What's with that? When we asked our insurance company, they said that their costs go up. Yeah, right.
It can be true.

The cost of parts for repair, the cost of labor for repair and the diminished value of the vehicle all play a part in making this situation very probable.

Think about this.

When you go into the mechanic or body shop for a repair quote does the mechanic as you "How Much Is Your Vehicle Worth"?

No he/she does not and they really do not care what your vehicle is "Worth".


Because the $$ they charge per hour for their labor and the value of the parts to repair the vehicle is NOT based at all on the current market value of your vehicle. $500 vehicle or $50,000 vehicle the repair shop labor rate is the same for repair and the the cost of production for replacement parts used in that repair is at today's current production cost not the part production cost when the vehicle was new 5-10 years earlier. It's not hard at all for the cost of repair to exceed the market value on a lot of older 5-10 year old vehicles.

It is for this reason alone that insurance companies "Total" far more vehicles today than they did even as recently as 5 years ago. It's cheaper for the insurance company to payoff the claim and sell the vehicle for salvage to recoup a portion of their payout versus repair the vehicle. Given the money many of these salvage vehicles bring at the IAA auctions it far more financially advantageous for the insurer to payoff the claim and salvage the vehicle. Most any vehicle is worth more in parts than it is whole.

So yes in many situations and for many types of older vehicles the cost of insurance can be higher to repair an old vehicle versus a newer vehicle. In this situation of an older vehicle about all the market value has to do with the repair costs of the vehicle from the insurers perspective is to quickly determine when to "Total" the vehicle and move forward salvaging the vehicle and paying the current market value of the vehicle to settle the claim!

In a lot of situations "Totaling" the vehicle is the worst option for the insured as most folks finance a vehicle and are "Upside Down" with their payments owing MORE on the vehicle that the current market value. Pretty tough to have to "Write A Check" to get rid of your "Totaled" vehicle!
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Old 03-03-2016, 10:17 AM   #46
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1998 30' Excella 1000
Livingston , Texas
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I've read of folks who have had their Airstreams "totaled" by the insurer (after just modest damage), took the payout, and then bought back the rig at salvage value. Was wondering how this value could be established without an auction?
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Old 03-03-2016, 11:44 AM   #47
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2015 27' FB International
Montgomery , Texas
Join Date: Jul 2013
Posts: 220
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August 2014- hit in the rear of my 2014 27' intl. Driver of other car came back across freeway and tboned me in the driver door of my 2014 Yukon Denail, totaling it and the TT after we flipped on the side of I40 in Amarillo. Liberty Mutual (my insurance) paid total replacement value for both vehicles. Then went after other drivers insurance. Can't say it was a pleasant experience but they did take care of me very well. Would highly recommend LM. Pay 1600 a year for 2015 GMC Sierra, 2015 27 FB serenity and a 2011 mini.

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Old 04-15-2016, 03:31 AM   #48
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2016 23' Flying Cloud
Austin , Texas
Join Date: Mar 2016
Posts: 120
Originally Posted by jimstream View Post
If any of you guys are armed forces veterans, the child of a vet, or active duty, USAA Insurance is the company to go to. I have all my insurance, home ,auto, life with them. They are top rated with Consumer Reports and they are a coop so you get dividends at the end of each year. You can't beat them. If not a vet, join the Army just so you can get this insurance. It's worth it. GO ARMY !
Recreational vehicles are one area (boats, motorcycles, ATVs, and campers), in which USAA won't insure you. In fact, they have an agreement here in Texas at least to use Progressive. I did this year for the Airstream, but I have my motorcycles with Dairyland. I have checked and at least with the motorcycles, they still tend to have the best rates and their service is great. I'm actually wondering if the flyers I keep getting from Good Sam about insurance are worth it, but I'll wait until next year to investigate that a bit more. For now, I'm going to leave the Airstream where it is... I do have, and have had since 1984, USAA for pretty much everything else including banking, IRAs, life insurance, homeowner's and auto insurance. They are a great company and like you said, very helpful when needed. I've never had any issues with claims or anything else... (well, yes I did... but that's because they used a 3rd party inspector. Once they sent one of their people out, it was all sorted out correctly).

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