Outrageous Quotes? Or Just Me?

[drairstream]

Originally Posted by The Ice Man

These quotes are scary!.. .

I just pulled my Declarations Page and with $1000 deductible for Comp and Collision, 500/500 coverage and "Stated Value" of $45000 for our 2011 27FB we pay $141 a year. All our vehicles and home are covered by the same insurer, so maybe that's the key.

Something is wrong either with your quotes or my coverage. Wondering ...

What wrong is stated value. Same as ACv. Not what you want. You want agreed value.

[james.mileur]

Originally Posted by james.mileur

USAA > Progressive > Full-Timer > 2017 Classic

My initial purchase premium of $1275 is up for renewal at $1446 next month; I'm shopping.

Secure from the drill, restow all damage control equipment.

Called Progressive, moved the policy from MT to UT due our slow bounce here in UT. Dropped Full Timer ($67), Comp / Collision deductibles to 500 / 5000 while in storage, the price dropped to $321, with Total Loss Replacement at $129k with Disappearing Deductibles. When out of storage with 250 / 250 deductibles, about $600, same everything else. Just got to call or finger the phone app to shift to the pre-loaded quote for underway ops.

Apparently, MT rates went up due to "fluctuating risks, repair facilities, etc."

[uncle_bob]

Originally Posted by james.mileur

Secure from the drill, restow all damage control equipment.

Called Progressive, moved the policy from MT to UT due our slow bounce here in UT. Dropped Full Timer ($67), Comp / Collision deductibles to 500 / 5000 while in storage, the price dropped to $321, with Total Loss Replacement at $129k with Disappearing Deductibles. When out of storage with 250 / 250 deductibles, about $600, same everything else. Just got to call or finger the phone app to shift to the pre-loaded quote for underway ops.

Apparently, MT rates went up due to "fluctuating risks, repair facilities, etc."

Hi

Again .... unless you both live in the same town, the rate one guy gets does not mean much compared to the rate another guy gets.

I did the same basic experiment. *Exactly* the same coverage. Same company, same policy, same vehicle. Same miles driven, same drivers. Just change the location. Policy went from ~ $1400 (in a location where that was very competitive) to ~ $140. One location was urban, in a state that had a lot of accidents (and generous courts). The other location was rural, in a state with few accidents (and stingy courts),.

Rates vary a lot depending on exactly where ....

Bob

[james.mileur]

Yup.

[rmkrum]

Originally Posted by james.mileur

Secure from the drill, restow all damage control equipment.

———snip———

Apparently, MT rates went up due to "fluctuating risks, repair facilities, etc."

Heh, haven’t heard that 1MC announcement for longer than I want to admit. Must be a Navy guy?

[james.mileur]

Yup, had to retire me twice and fire me once to get rid of me. Subs. Only two years on a Guam Tender, or I could recall The Sweepers ditty. Still use a Weems & Plath Ships Clock app on my phone, but can't seem to find it on the Play Store.

[CarolynSteve]

In the last year all the insurance companies took big hits.
Texas, Florida and California have all had catastrophes.

That means big payouts and big losses for their bottom lines.
The prices of the shares are reflecting losses and anticipated losses.

They have all raised or anticipate raising rates.

I suggest that you pool your homeowners, and auto policies as well as umbrella insurance (highly recommended) under one insurer.

Check the rating of the insurer. ("A" rating is better).
Speak to a local agent.

I use GEICO on line and have some insurance knowledge.
A local agent with a good reputation can walk you through the intricacies of your policies.

Besides it is probably time to check your coverage anyway.
Ask a lot of questions...

Good luck in your hunt.

[Mollysdad]

Originally Posted by CarolynSteve

In the last year all the insurance companies took big hits.
Texas, Florida and California have all had catastrophes.

They have all raised or anticipate raising rates.

I could understand that except when we went for 12 years without a major storm making landfall, my rates didn't go down!!!

[uncle_bob]

Originally Posted by Mollysdad

I could understand that except when we went for 12 years without a major storm making landfall, my rates didn't go down!!!

Hi

It's always a question of "how fast should they have gone up?". If you dig into the numbers, it can vary a lot. That variation also applies state to state or even within a state. Lots of rain here or there? Hills slide and homes are damaged. It might not even make the news, but money gets paid out.

Given how excited people get shopping for the lowest rate, there's not a lot of silly pricing going on.

Bob

[Rocinante]

As of next fall Rocinante will officially be 5 years old, at which point GEICO no longer offers full replacement and shifts to NADA. That would be wildly insufficient vs. the value of the trailer.

Based on recommendations from several folks we'll start by shopping with FCIS using an appraisal from someone like Polk Associates to back up the agreed value.

Unless we decide to downsize, of course... but that's another story for another thread.

[dznf0g]

I just had a claim with FCIS (nationwide) on my agreed value policy. (55k, probably time to lower it) all went well, Bill came for next year last week. It went down about $30. ($780)

[Fred L]

I have a bundled policy for home, 4 vehicles and our 2007 23ft.
I asked a number of questions and was told it would be insured to the value of $35,000 (cost plus upgrades). Needless to say we shovel cash their way with auto insurance every year here in the Peoples Republic of NJ.

However at the time of taking the policy, I was not aware of the term Agreed Value, so will need to make a call.

Insurance Co is Liberty Mutual and we have had them for several years, no claims, no accidents/speeding tickets etc. $165 a year. Will report back on what I find regarding Agreed Value.

[Rocinante]

Maybe check with AMICA insurance? We live in WA vs. NJ, but they were very helpful and their quotes were good enough to win our business.

To get "agreed value" insurance vs. "blue book" insurance, and you may have to go to a different insurer for your RV. Here's one possibility. We don't use them today because our trailer is new enough to have full replacement coverage via GEICO, but if your trailer is more than 5 years old you may benefit. https://www.rvadvantage.com/

Oh, and here's one possible way to get your trailer appraised so you and your insurance company can agree on a value. Again, I've not used this service, but it was suggested to me when I started asking around. http://polkassociates-llc.com/

[Al and Missy]

I'm following in Doug's footsteps with different results. My renewal with Progressive is $930 annually for Agreed Value of $44,500. I filled out the online form with GoodSam and ended up talking to an agent on the phone. They didn't appear to offer Agreed Value, but said that a total loss would be covered at "market value". The agent said that, according to their reference, the market value for my trailer was $56,000. I plan to ask for a copy of a sample policy to see what it actually says. Anyway they offered $706/6 months to cover both my trailer and 2013 Ram 2500, and said it would be $175/6 months for the trailer alone.

I'm curious to know if anyone has experience with GoodSam that they would be willing to share. PM me if that makes you more comfortable or you are concerned about a rules violation for posts.

Thanks,

Al

[Fred L]

Well, finally heard back from my sales rep at Liberty Mutual and sure doesn't sound like what he told me when I took out the policy.

Now saying "actual cash value" Not sure if that is NADA or not, but I have asked.

May have to shift all my insurance (auto/home and AS) when I start shopping around.

Never liked their advertisements, something to the effect of "you ram your car into a tree and the insurance company raises your rate" I would hope they did, or it means my annual payment is covering some ninny and not just my clean record of 40 years. Just more unbelievable things meeting todays insane world of zero personal responsibility.

AMICA ? will need to contact them and see if there is a fit. Rather not deal with companies that blow millions of $$ on advertising. Progressive has to be the worst and Geico close behind. That expense has to be hitting its customers somewhere. Always wondered about USAA and why they advertised, this thread answered that.

[Rocinante]

Oh, that advertising comes out of your insurance premium, for sure. . If your Airstream is less than 5 years old, though GEICO offers a sweet deal: full replacement coverage.

[Fred L]

Just spoke with AMICA and they would not do "Agreed Value", but they will do an Accepted Cash value based on comparative values of similar AS trailers that were recently sold vs NADA. Cost was reasonable, believe it was $230 per year, but the value on my 2007 is between $30 and $35k vs new.
Working on some quotes for bundling Auto/RV and Home. Will see.
They also "sound" like the kind of company I want to work with, not someone who will try and fleece me if there ever is a claim.

[uncle_bob]

Originally Posted by Fred L

Just spoke with AMICA and they would not do "Agreed Value", but they will do an Accepted Cash value based on comparative values of similar AS trailers that were recently sold vs NADA. Cost was reasonable, believe it was $230 per year, but the value on my 2007 is between $30 and $35k vs new.
Working on some quotes for bundling Auto/RV and Home. Will see.
They also "sound" like the kind of company I want to work with, not someone who will try and fleece me if there ever is a claim.

Hi

I've had Amica for many decades. They have always been fine people to work with. There have been a half dozen "incidents" with cars that have happened over the years. I have never had an RV claim with them. I have no idea at all how it would work out if I did. With cars, I've never had any question about them doing the right thing.

Bob

[Al and Missy]

Originally Posted by Al and Missy

I'm following in Doug's footsteps with different results. My renewal with Progressive is $930 annually for Agreed Value of $44,500. I filled out the online form with GoodSam and ended up talking to an agent on the phone. They didn't appear to offer Agreed Value, but said that a total loss would be covered at "market value". The agent said that, according to their reference, the market value for my trailer was $56,000. I plan to ask for a copy of a sample policy to see what it actually says. Anyway they offered $706/6 months to cover both my trailer and 2013 Ram 2500, and said it would be $175/6 months for the trailer alone.

I'm curious to know if anyone has experience with GoodSam that they would be willing to share. PM me if that makes you more comfortable or you are concerned about a rules violation for posts.

Thanks,

Al

No response from forum members. I take that to mean that few, if any, have their insurance with Good Sam, who sells National General Insurance.

No response from the agent on my questions about their reference for "enhanced current market value". A Google search indicates that "current market value" is just another term for actual cash value. The agent defined "enhanced" as a 20% increase over "current market value". 20% over NADA doesn't cut it for Airstreams.

Al

[Fred L]

Originally Posted by Al and Missy

No response from the agent on my questions about their reference for "enhanced current market value". A Google search indicates that "current market value" is just another term for actual cash value. The agent defined "enhanced" as a 20% increase over "current market value". 20% over NADA doesn't cut it for Airstreams.
Al

Al,
Did the agent say "NADA" ?
Presumably getting into fine print, but as I noted in my post, AMICA confirmed they do not use NADA to calculate "accepted cash value" but use comps on recently sold AS that match the trailer being insured. I was told that "agreed value" is rare or never done since it sets a dollar amount and does not take depreciation into consideration. Ie, you buy a new AS for $75,000 and pay insurance for 7 years and a tree falls on it and totals it, you get $75,000. If there is any correlation to home insurance, I would think replacement value would be the preferred valuation term.