I have had my 1990 30' Excella insured this past year with an Agreed Value policy with Allied insurance Co. (Now owned by Nationwide) My Agreed value (Appraised) was $17,400.00. and my annual premium was $398.00. I just received my renewal notice and it jumped to $685.00. for 2016, an almost 100% increase. I have contacted Allied but have gotten no reason as to why. All they will say is that the actuaries make those decision. Not sure how this will affect others.
Does anyone know of other insurance underwriters who issue Agreed Value policies?
Jerry 1939
A common practice in the insurance industry is the "buy" the business model. They get you in the door and adjust the premium to market, or higher. It's really a business development strategy, but your premium jump is significant and must have been an actuarial, underwriting error that they corrected. Shop it. Try Progressive.
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