Insurance

[Hardroad]

Any experience with Geico Insurance

[chasrolex69]

I just picked up a 2017 23fb FC, good driving record 59 yr's old, northern Illinois, Geico had the best quote $300 every 6mos, full cov. 500 deduct. roadside asst. 10k of coverage on contents ( I will being using it full time soon) I am in the automotive business for 30yrs and have always found Geico one of the best. They are super good and super fair and super quick when you really do need them. do not hesitate to go with them ! the only vehicle I have outside of Geico is with American Family, I just had a 4K claim on my daughters 2006 Subaru, they sent me a 4 page personal financial record they wanted me to fill out before an adjuster would even contacted, My net worth, etc.
Go Geico


Charles

[wareaglewalt]

I'm insurance shopping, too and have found Geico's rates to be too good to be true. If I bundle our tow vehicle in the mix along with the Airstream, my premium for both is the same as just my auto with 2 other companies (Progressive and one thru Good Sam).

Geico matches all the criteria I'm asking of the others and even with full replacement, etc., it's essentially free compared to other insurers.

What am I missing here?

[rodsterinfl]

Call around. I spent a good month on this and was even deceived by one company on coverage. How old your Airstream is has a lot to do with what coverage you will be offered. I learned quite a bit but the information is not necessarily general to all owners. I can say this:

There are basically three kinds of policies - replacement policy(for those with a model up to 2-3 or so years old and good for only so many years); a cash value policy - just like most auto policies using NADA guide as a value point depreciating value each year. The value of the Airstream is determined by the guide and; agreed value policy - a policy that while in force, will pay out an agreed value based on appraisal or original purchase price (if recent) for as long as the policy remains.

The worst is the ACV or cash value policy as NADA depreciates Airstreams and other RVs quickly. Also, replacement policies may have an addendum that states they will revert to an actual cash value policy once the trailer reaches a certain age. Owners have to be careful. I was told to get an RV policy as RV adjusters are more familiar with RV needs- given the example of a wreck where a regular adjuster sets up payment for exterior wall but does not adjust for the inside stove damaged, etc.; however, when Good Sam sent me a policy, it was cash value- boo!

I recommend that new owner peeps look for replacement policies but be ready to switch to agreed value as soon as needed. Be careful also in that MOST companies do not have agreed value policies that do not depreciate your asset. They play on words. When you read the policy it has to give an amount that will be awarded if loss does occur. At the time I was looking I called all the common insurers including my companies - Progressive, Met Life, etc and told "sorry." AGAIN the year of Airstream may matter in what you find. Mine was nine years old at the time. I called Progressive more than once and was told they did not offer agreed policies on RVs yet there are those on this forum that say they have one. I found three companies - Blue Sky, FCIS and another one cannot remember.

That is the general information I can share from my month-long dig. Just consider that there is more than just annual rate. The type of coverage is important too.

[uncle_bob]

Hi

Once you get past about seven years or so, car / truck / RV all get into a murky area with "normal" insurance companies. A junker rusting in the field becomes more common past that point. A restored / well cared for vehicle is less likely. Sorting that out takes some work. There are several specialty companies that deal in this area. It's a small market and the "big guys" simply decide not to play ....

So, yes, no "one size fits all" solution.

Bob

[Countryboy59]

Originally Posted by uncle_bob

Hi

Once you get past about seven years or so, car / truck / RV all get into a murky area with "normal" insurance companies. A junker rusting in the field becomes more common past that point. A restored / well cared for vehicle is less likely. Sorting that out takes some work. There are several specialty companies that deal in this area. It's a small market and the "big guys" simply decide not to play ....

So, yes, no "one size fits all" solution.

Bob

Then again, a lot of people over-insure older vehicles and then try to cash in on every bump and scrape.

[LBOskiBear]

I have an agreed-value policy from Progressive. Keep in mind that not every product is offered in every market and some are specialty products that may only be available to certain agents who participate in a "program."

Whatever you do, request a PDF of the policy form and read it yourself. I would never trust an agent/broker to properly represent to me exactly is and is not covered on a policy. It may be because I've been in the insurance and risk management business my entire career, but have little trust in others' understanding or representation of what's covered by policies.

[uncle_bob]

Originally Posted by Countryboy59

Then again, a lot of people over-insure older vehicles and then try to cash in on every bump and scrape.

Hi

Exactly.

I can't say I have *ever* been happy with the way people have evaluated any of my "unique treasures". Somehow I doubt I'm the only one with that sort of issue. Obviously the insurance company is not in the business of supporting my warped sense of reality (at least not without charging a *lot* of money for it ...)

Bob

[GMFL]

Check Cincinnati insurance company we have our home, auto and Airstream bundled through Cincinnati I pay $126 a year for an agreed cash value policy on my Airstream of $65,000

[rodsterinfl]

"agreed cash value policy" be careful with that one. The wording is a mix of the two and, that is exactly what I was told when I got the one policy that I canceled as soon as I got the documents. I went round and round with a call-back customer service representative who said "we mean that the cash value is an agreed market value as published by the NADA. That is what we would use to value your trailer at the time of accident." Seriously. Agreed value versus Actual Cash Value. The question to ask is if my trailer is totaled, how will the value be determined? I tell you that MOST companies answered my question with a sentence including NADA. Naturally if your Airstream is almost new and on a replacement policy that answer is different but ask the question with age markers, in five years, in seven years, etc. My first policy was with Met Life who bundled it onto my auto policy for $104 a year BUT it was NADA based valuation which dwindles to nothing in a few years.

[uncle_bob]

Hi

There are many things in life where you get what you pay for. Shopping for "cheap" is possible. Shopping for "best" is also possible. With most stuff, the two do not happen at the same time. With insurance you only really know what you have *after* the worst has happened.

Bob

[ITOWAIR]

National Interstate will no longer write RV policies. Other insurance companies do not know what an Airstream is. NADA price estimator is low. Can anyone help? No Progressive insurance either. Have 2004 International 28' CCD

[rodsterinfl]

Call FCIS. They will advise. They had a brochure at a WBCCI rally a few years back. They know Airestreams.

[Luigi123]

Good Sam--Full replacement in the first five years from purchase new date.

[GMFL]

Originally Posted by rodsterinfl

"agreed cash value policy" be careful with that one. The wording is a mix of the two and, that is exactly what I was told when I got the one policy that I canceled as soon as I got the documents. I went round and round with a call-back customer service representative who said "we mean that the cash value is an agreed market value as published by the NADA. That is what we would use to value your trailer at the time of accident." Seriously. Agreed value versus Actual Cash Value. The question to ask is if my trailer is totaled, how will the value be determined? I tell you that MOST companies answered my question with a sentence including NADA. Naturally if your Airstream is almost new and on a replacement policy that answer is different but ask the question with age markers, in five years, in seven years, etc. My first policy was with Met Life who bundled it onto my auto policy for $104 a year BUT it was NADA based valuation which dwindles to nothing in a few years.

That's why I have a value of 65000.00 attached to the policy. If totaled that is the number they use.

[GMFL]

P.s. Thanks for the headed up. I call to make sure

[Peanut]

Originally Posted by Luigi123

Good Sam--Full replacement in the first five years from purchase new date.

Did you read that in the policy?

The outline of coverage on the declarations page of my Progressive policy states “Total Loss Replacement/Purchase Price” (See policy for details) for both Other than Collision and Collision. The agent “confirmed” that in the event of a total loss, I would be paid the Purchase Price. Yet, when I read the policy I find the statements below and nothing about “Purchase Price”. So regardless what the agent says, if my Airstream is declared a total loss, they are going to pull out the NADA to determine the loss. (Wish I could buy nice used ones at those prices - I'd quit my day job and start flipping Airstreams)



Endorsement: COVERAGE FOR DAMAGE TO YOUR AUTO (MAXIMUM LIMIT OF LIABILITY)
NOTICE

The amount shown in the Declarations is not necessarily the amount you will
receive at the time of loss or damage for the described property. PLEASE refer
to the Limit of Liability Provision below.

With respect to the coverage provided by this endorsement, the provisions of the policy
apply unless modified by the endorsement.
With respect to the Coverage(s) shown as applicable to a vehicle described in the
Declarations, the Limit of Liability Provision in Part D is replaced by the following:
LIMIT OF LIABILITY
A. Our limit of liability for loss will be the lesser of the:
1. Amount shown in the Declarations;
2. Actual cash value of the stolen or damaged property; or
3. Amount necessary to repair or replace the property with other property of like
kind and quality.
However, the most we will pay for loss to electronic equipment that reproduces,
receives or transmits audio, visual or data signals, which is permanently installed
in the auto in locations not used by the auto manufacturer for installation of such
equipment, is $1,000.
B. Our payment for loss will be reduced by any applicable deductible shown in the
Declarations.
C. An adjustment for depreciation and physical condition will be made in determining
actual cash value in the event of a total loss.

[64airstream]

We very recently went through this and for an older trailer with an appraisal rodster is right. Call FCIS. They may write the agreed value policy through Progressive even though Progressive folks can't write it directly.
Good luck,
Roy and Marie

[uncle_bob]

Hi

One other wrinkle in the insurance process. Ignoring the magic valuation, what sort of destruction is covered?

If it's parked at a campsite and a tree falls - covered or not? TV + trailer get in trouble on highway? Likely covered.

Trailer separates from TV on highway and (obviously) gets in trouble? Might not be covered ...

13 year old Uncle Bob (with no insurance) runs into the parked trailer with his ATV? Covered or not?

Flood waters rise and trailer goes under? Likely not covered.

Sink hole opens up under your campsite ...

There are a nearly infinite number of weird little ways to damage a trailer. Without a lot of time reading the policy (and maybe a law degree) working all that out is a massive pain. In a lot of cases, it's a weird enough occurrence that you may not really care ....

The point being, there's a lot more to the policy after you figure out what the valuation is.

Bob

[Mollysdad]

Originally Posted by Hardroad

Any experience with Geico Insurance

Yes. I've been a customer for 30 years.
I've never made a claim so I can't vouch for how they pay, but their quotes on my AS beat every other provider I tried. (By several hundred dollars, including Overland and Progressive)
Geico rolled the Trailer into my auto policy. I got replacement coverage so it cost more than cash value.
The bad news is in Florida all the rates are too high.
You might beat them by an off brand company, but are they going to pay? Do they have a office in your town?

I got a quote from Progressive of <example>$800. A few days later I called to sign up and I was quoted $1000. "How can this be? I have a quote for $800."
"The quote is only good for 24 hours."
Nobody else told me that, and the guy sounded bored, so I have no idea if he just made it up or it was policy.

Geico is owned by Warren Buffett if that turns you off.
I remember when a human answered the phone. Those days are over, sadly.