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Insurance Question
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Insurance premiums are based on so many factors it is impossible to compare premiums. The state in which it is based (which is in part a measure of risk), if it is in a secure facility or outdoors, if it is used more than XXX months annually, annual mileage, the driver’s driving record, the state insurance rules (which mandate coverages), and the phases of the moon or planets.
To add to the confusion bundling bus insurance with home, cars, or an umbrella is usually the result of the owner beating up the agent to get the company to step up to protect the agent’s premiums for the other stuff. I can guarantee an insurance company that lacks the expertise specific to a Prevost conversion is going to not cover the cost of repairs without a fight because the cost to fix a damaged coach and interior isn’t close to what it is for a conventional RV. Compare how a typical RV is built and equipped to understand why a Prevost conversion insurance premium is so high compared to the typical RV. Buying cheap insurance from an uninformed insurance company is false security.
Having said that however there are a ton of owners who have been doing it for years and dodged bullets.
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Marshall,
Dig a little further, they based mine on the purchase price as well for a basis on ACV in the event of a complete loss and replacement. They used the term Agreed with me as well, but has nothing to do with Agreed Value as we all know it.
Not arguing with you, just recently went through the same thing while turning all my insurance needs over to State Farm that benefits the total premium amount.
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Good point. I’ll check it out. Thanks for the input……
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The problem is that many insurance companies will not insure a Coach that has a value over $1M.
When I had the Liberty, SafeCo was the only insurer that would do it and I had to carry two policy’s……. One for $1M and another for the balance. It was getting crazy expensive as it had jumped from $13,000 a year in 2019 to $18,000 for the renewal in 2020. (no claims, no tickets, etc.)
Now that I downsized, I can insure everything with the Tennessee Farm Bureau.
Safe travels,
Mark
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My coach is insured with State Farm. Also know numerous others with late model coaches insured with State Farm. Not worried about arguments about value or repair sources. I am a big boy and can protect my rights
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I’m curious. Does State Farm insure the coach for agreed value or ACV?
Do they know that the cost to repair even “minor” damage can get well into 6 figures quickly?
It is one thing to get inexpensive insurance, but if the courts have to get involved or if repair work stops until the owner and insurance company agree on the cost, who will do the repair, or that until repairs are well underway there will possibly be big bucks associated with “hidden damage” the coach can be tied up for months, if not years.
For a newer coach that has depreciation at about $1,000 per day time spent fighting has a very high cost.
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Got our bill for 2022. It went down 6% YEAH! YEAH! YEAH!
This will be our 9th year of insuring it w/Natl General Ins thru The Miller Ins. Agency of Oswego Oregon. Agreed value still at $135K. No changes except we’re one yr older. This is the first time in 9 yrs that our premium has gone down. It usually goes up 15% ea yr.
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Don,
I have been insured with National General for the last five years and it has increased each year. I want some of what you are getting. Please, point me to the right place!
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I’ve had excellent service and pricing from Shannon on our Prevost.
Shannon Morehouse
Brandon Bystol-Allstate Agency
W164N11271 Squire Drive
Germantown, Wisconsin 53022
Boat, Yacht, Aircraft, Motorhome Expert
262-253-4600 -
Thanks, Dick. Merry Christmas.
Ron
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