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Insurance issues again
We are buying a newer coach, a 2016 Liberty H3-45, and I have been on the phone most of the afternoon trying to get a quote on insurance. After about 30 minutes on hold with Safeco, they told me that they would not insure it as it was too expensive. I asked how much is too much and could not get an answer.
We got our policy with Safeco for the current coach during the transfer from National Interstate. It was a struggle to get it done as they were clueless about values then and do not have the experience that Explorer RV and National Interstate has.
Last fall when National Interstate was getting out, Judy at Explorer RV gave me a reference in Grand Rapids, MI, Thum Insurance Agency in case we had issues with Safeco.
I talked to Thum today and they say they have a way to get into the underwriting dept. at Safeco and may be able to get the higher agreed value we need for the new coach. They seem to understand what we need, and will get a couple of quotes early next week for me.
I will update this when I get further info next week.
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5 Replies
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Hi Mark,
Try Miller insurance. Their well known here on the forum and will get you multiple quotes. Progressive insurance covers Prevosts and is one of the companies Miller works through as a broker. Just click here Miller Insurance
Harry
OOPS, Just realized Miller is talked about on the thread below this one!
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I’m not an insurance agent so I do not understand the reluctance of insurance companies to be willing to collect premiums.
I assume whether the coach value is $2 or $2,000,000 their way to provide insurance is to charge a premium proportional to the insured value. If my 12 year old coach gets dented and a brand new coach gets an identical dent the cost to repair is also going to be identical. If the loss is total however the insurance company will pay out less to me than it will to the newer coach owner so all it has to do is adjust the premium level to reflect that additional risk.
What is the problem?
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I could not get any kind of an answer out of the moron I talked to. I asked him several times, what is the most your company will insure, and he would not say. I know that they wrote policies for at least $1.7 on some of the business transferred from National Interstate, so I am at a loss for this.
I am hoping that I can get some good news next week when I get my quotes.
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I was also referred to Safeco from National, through Explorer RV. I had no problems at all with Safeco on the transition. Agreed value and the whole deal was very easy.
Premiums are within a few hundred per year.
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Melissa @ Thum Insurance Agency was able to get me an agreed value policy from Safeco after all. She did all the leg work with the underwriting department to get us the value we wanted to insure it for. We will finalize it tomorrow. Looks like the agreed value is getting scarce to find. She contacted Foremost and they would not write for agreed value, and they were more expensive than Safeco’s agreed value pricing.
So if you have a fairly new coach, and have a renewal coming up, don’t wait until the last minute as it could take some time to get it done.
I am not sure where the actual dollar amount is at that causes insurers to balk as they would not say. I just wanted to let you know that there could be issues with agreed value.
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