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Agreed Value Insurance
I have had insurance with the National Interstate people since 2009 when we got our first coach. They informed me this summer that they are exiting the personal lines market, and that they have transferred their book of business to Safeco.
Be advised that if your coach carries a value of over 1 million dollars, Safeco has to do some juggling to get to your agreed value. It can be done, but could take some time, especially if you are changing the value for your policy. I got a new valuation this fall from Liberty, and it took some extra time to get it through the system so I could get the new policy pricing.
I did go with Safeco as they were the only one I found who was willing to do an agreed value policy, which I feel is very important protection.
I just wanted to let everyone know that it may take more time to get everything done, so don’t wait until the last minute at renewal time if you have National Interstate.
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7 Replies
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Thanks Mark, good info. Glad they will stick with the bus market and current policy holders. They may be the only game in town for Agreed Value over a million and sounds like only for renewals.
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Thanks, Mark. I also have agreed value through Nat’l Interstate but have not been notified of any changes yet. I renewed in June this year. I guess I’ll get the news next year.
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My renewal is next month and Miller’s is basically down to two options for AV. Nationwide and Progressive.
RV insurance seems to be going up drastically, especially since there are no book values for our buses and the Insurance industry in general has had some large claims over the last couple years (according to Miller’s).
In 2016, I paid around $1,800.
In 2017, I paid around $2,400, a 33% increase.
In 2018, I’ll pay around $3,200, another 33% increase.
If anyone has any other options, please chime in …
If I went with ACV, I would save around $600, but in my mind, it’s not worth it.
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TIM, are and Cindy both insured for the bus?
I was told by Nationwide that if both spouses are insured, the coach insurance cost is lower…but if the “better” one gets a traffic ticket for any reason, Fault or not, your rates will increase…
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Like Mark3101, we have renewed with Safeco Insurance.
Our deductible went from $5,000 with National Interstate to $2,000 with Safeco (Safeco’s max deductible) with diminishing deductible. Zero deductible glass coverage and repair (all glass).
Safeco automatically changed the personal value to $1,000 from the $10,000 with National Interstate. I changed it back to $10,000 at a cost of $121.00 a year. (my rose petal dispenser is not cheap).
We renewed with ACV if there was a total loss.
Mark
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Tim,
Check with Brown & Brown in Kentucky.
Doug
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I’m the only driver. I thought that would be cheaper and no, we haven’t had any tickets, accidents, or claims (excluding glass) for the past two years.
I have $1,000 deductible.
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