Virginia - Agreed Value Coverage

[Foiled Again]

Going to get my Avion - finally.

Need to get Agreed Value insurance. Anyone else here in Virginia who knows what providers will do Agreed Value?

[slowmover]

Off topic but I sure am looking forward to seeing that TT. Thought of you this morning while southbound towards Philadelphia on the NJ Turnpike and saw a northbound black Duramax with a late mid 20's in tow.

Good luck.

[Thomas31]

Farm Bureau Insurance is available in most states. Good coverage on my agreed upon insurance with our appraisal in NC.

[A W Warn]

I have Farm Bureau with agreed value also from NC

[dugster]

You might try Auto Owners Insurance. I have an agreed value policy with them in Georgia.

[ByronI]

I have agreed value with Progressive.

[KWN306]

Blue Sky Ins.

[Foiled Again]

On a related topic; I went to Virginia's DMV today - sort of expecting a pain in the neck in getting a title on the old 1984 Avion. I had gotten an OHIO title when I bought it late in 2014... but hadn't bothered getting it titled in Virginia until now. That turned out to be NO big deal. And the lady at the counter was NICE (Yep, really, at the DMV!) and the lines weren't long, so I asked about getting an old one titled if you had nothing but a bill of sale.

Her response? Well lots of them get abandoned and are acquired along with a land purchase, etc. And we know that in some states they just didn't require that they be registered, so we'll check all of that, then IF YOU ARE A VIRGINIA RESIDENT WITH A VALID DRIVER'S LICENSE, you fill out and sign an affidavit and get a title. She indicated that it was conditional (had a state lien or something that prevents if from being sold until the VIN# has been turned over to law enforcement and a check has been done across several states to make sure there's no report of it being stolen.

I didn't want to linger too long and ask if they had to physically verify the VIN# or inspect the trailer - but she indicated that it was done quite frequently at the office I visited.

A note that might help others who are trying to get a title - Virginia Beach - AKA TOURIST AREA - and a big town DMV office that does a lot of business may be a key to finding people who have a lot of experience with RV titles. I've been in small town DMV offices once or twice and whew - anything out of the ordinary throws the clerk into a tizzy. Civil servants by nature need order and safety and worry more about proving that they've followed orders than about your results.

Paula

[Phoedis]

We are insured with Progressive for agreed value. Had a small claim last year whIle in Florida. Very happy with their service!

[Foiled Again]

According to their nationwide 800 number, they do not offer agreed value insurance, but will only pay the actual cash value of the unit.

Now often people who work at call centers have about 2 weeks experience, and don't know how to navigate around their scripting software well enough to FIND something like "agreed value" or "true replacement value" or whatever....

But

If you have Foremost on your vintage unit, you'd better pull out that horrible 30 page document and read it cover to cover because you might not have the coverage you believe you have!

Paula

PS: Calling all retired people who have cold or rainy weather today. Please call the 800 number and create a firestorm of inquiries - maybe wake someone up!

[Minno]

We have State Farm with agreed upon value policy. We had the trailer appraised and used that for our basis with value. State Farm has a vintage car section they use for trailers too.

Kay

[Foiled Again]

Farm Bureau - local agent - no love for a 1984.

Ditto Progressive.

[AraExpress]

Originally Posted by Minno

We have State Farm with agreed upon value policy. We had the trailer appraised and used that for our basis with value. State Farm has a vintage car section they use for trailers too.

Kay

Call me ticked off. Last week, State Farm, who I have everything I own insured with, told me they do not issue agreed value policies.....

[Foiled Again]

Back in the day when your cousin was an insurance agent - and didn't want to become an outcast at the family reunion, he/she took care of you and made sure that you had good coverage PLUS helped you file claims. That second part included telling you when NOT to file a claim.

Today what most of us no longer know about insurance is:

• EVERY claim filed costs the insurance company the same amount of documentation fees, so if you have $500 deductible and file a claim for $750, you get $250 and the insurance company counts it against your record. probably only a small increase, but overall you're better off not filing unless your loss is at least 3 or 4 times your deductible.
• if you file a claim that is Lower than your deductible (and people do) you're entering the running for the "Darwin Award" but more importantly even though they pay nothing, you still incur a penalty for just filing. KNOW what your deductible IS.
• your car's value goes down every year, but if you've had it insured with the same company for three years you're paying the same premium or even a higher one? Why? Loyalty seems to have penalties... Or less bitterly - spending one day every year reviewing ALL of your coverage will usually put hundreds of dollars in your pocket - sometimes thousands. If you've sold jewelry, antique collections, etc. that extra rider on your policy may no loger be needed!
• save money and get a policy online - yeah? but how good is you coverage? Every policy you get averages 30 pages of gobbledygook - and as one person here found on his policy "Hail Damage" was excluded if it didn't penetrate the roof.
• "accident forgiveness" - is BRILLIANT advertising - or fraudulant, depending on how you look at things. Ask an agent what the premium for one year is WITH and WITHOUT accident forgiveness. Guess what - you won't get raised because you're aready PAYING for that first accident.... what happens if you pay that higher premium for six years and then have the accident. Invest the difference.
• MOST IMPORTANT - everyone knows their deductible, no one knows their limits of coverage. Heaven forbid, you are in an accident where the driver of the other car dies, and she's a 30 year old physician - you are at fault and the loss of her life earnings $300,000 for the next 35 years... Say goodbye to everything you own or ever hope to own if you have a $500,000 limit of liability per accident. You can raise your deductible to $1500, and pay for a $5,000,000 umbrella - which potential loss would you rather pay?

So go find a GOOD agent who is interested in her/his clients as much as the commission check.

Paula

BTW - a dear friend recently lost his 33 year old wife to cancer. They'd decided that she would stay home with the children, and home school them - so they only insured her life for $50,000. And now he has three children who need daycare for the next 8 to 10 years. AHEM! FAMILIES cost money! DADS and MOMS need enough coverage to keep the roof over the head until the kids are out of high school (at a minimum)!

[Minno]

Originally Posted by AraExpress

Call me ticked off. Last week, State Farm, who I have everything I own insured with, told me they do not issue agreed value policies.....

YES, they do! Get a different agent! It goes through the vintage car section. They honored our appraisal completely, no questions.

Kay

[unifreck]

Paula-
That was the best cautionary blog on the insurance game that I've seen in a long time. Thank you. AEW

[Foiled Again]

So... I googled "Jay Leno's insurance" and came up with "grundy". A call to them was interesting - and may be a solution for some of y'all. They will insure a vintage trailer - IF....

..... (drum roll, wait for it)....
IF you also cover a vintage car or truck (not a motorcycle or motorized RV)
and a daily driver
and the vintage trailer or motorhome
AND the total value of the stuff you own exceeds $100,000

Close but no cigar. Those of you who have a vintage vehicle - it also has to be in "show" condition. So that ratty old 1951 dual window VW isn't going to cut it. .... back to the search.

One really helpful suggestion from the Grundy telerep

Ask for "Stated value" rather than "Agreed Value" - not quite as good, basically they'll look at depreciation (post renovation) before they pay a claim.

[Foiled Again]

Originally Posted by Minno

YES, they do! Get a different agent! It goes through the vintage car section. They honored our appraisal completely, no questions.

Kay

Minno - get ready to receive a nastygram from your insurance company. They can and do change their offerings at the drop of a hat. And the products they offer can differ drastically from one state to another.

Oh - worst insurance story ever - When I was young and newly married to good old whathisname I decided we should get term life and called around to several companies. MOST of them offered ME lower premiums than my 2 year younger husband - because women statistically live longer. ONE however wanted to charge me 35% more than the ex. Why? Because they used 1898 actuarial tables for women (Life expectancy tables). Virginia didn't require them to use tables that reflected current life expectancy - and before antibiotics a lot of women still died in or post childbirth. That company did not want to insure breadwinner females - and when they did they wanted to get top dollar.

Morale again - compare rates between 2 or 3 top contenders.

Paula

[Foiled Again]

STILL no love. I'm wondering if it's just Virginia. I'll have to try Texas or Florida - more retired people doing the STAY cation thing.

Paula

I've been offered "liability only".... woopie! (not).

And I have Foremost on the Eddie Bauer - can't get anything... and it cannot be just me. Anyone with a vintage unit - go read your policy! "Stated Value" is just a way to pay NADA blue book.

Paula