[Roscoeapproved]

Unless we can resolve the problem associated with excessive insurance cost, coach values are going in the dumper because the virus is definitely going to create financial issues which impact luxuries first, but when insurance begins to equal depreciation as a cost of ownership, a lot of owners and prospective buyers are going to avoid Prevost ownership.

We collectively need to solve this problem because one or two of us complaining is clearly insufficient.

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Jeff and Lindsay

91 Marathon XL

[Archived]

I am sure this is not a new concept but would it be possible to start a self insurance pool for just the comprehensive part of insurance? All of the experts are already available right here on the community. Coach valuation, repairs, legal issues etc.

[Archived]

I’m not on the “agreed value” bandwagon.

I just want my insurance to cover the bulk of the replacement value. Same with the deductible. We have a significant deductible which lowers the premium a fair amount. We can do this since the bus is not financed. We probably have more options that some financing institution’s requirements.

Yes, should the bus get totaled we would not get a check that would allow us to go get another one outright. We would have to make a decision on covering the difference or quit the “recreation”. Same as someone would have to decide to spend big bucks on an expensive European vacation or some other “recreation”.

I realize if someone was full timing or using the bus for business things would be way different.

Bottom line, my insurance with State Farm is hurtful but not outrageous.

[Chris]

If insurance is going to be $10k a year on a 15 year old bus, and maintenance easily another $5-10k a year then I think a lot of people will be turned off unless they are full timing or using the coach for work ( as I was ) etc.

[Harry]

Jeff, I have been pursuing that for a while now, and the greedier the current insurance companies get, the easier it will be to find someone willing to create a Prevost specific group insurance plan.

But with all respect to members who will not take advantage of opportunities such as the fuel discount program or a group insurance program, any plan to reduce the premiums and coverage we are seeing is going to take almost 100% participation. Imagine how good our fuel discounts could be if we got 80% or 90% instead of 5% to 10% of owners. We would have some serious muscle.

I was president of a school board and our school district self insured. We hired a program manager, we bought insurance to cover excess claims and we saved a ton of money, but we had 100% participation of our employees. Their premiums went down, our contribution costs of the plan went down and we all got better coverage. We cannot force members to join.

We have a huge pool of Prevost owners here. If we assume 2500 coaches, and the average coach owner pays $4000 for agreed value we have a pool of $10,000,000 to start. I have no clue what our current loss ratio is but it is clear we have some clout, but we have to get the volume, otherwise it will never happen.

[Jim/Chris]

Mikee, we left Progressive because of their high rates. Our agent gives us one word to describe our high premiums-HAIL. Progressive dinged us because we had hail claims in 2027 on our house, the office and all our rental properties. Our area had 30,000 roofs that needed replacement. Insurance companies we’ve heard have an exchange where they internally compare all liabilities of their customers. So even tho, our personal and commercial insurance companies are separate, they tell one another about their customers liability. I dont see how to get around that fact

[Harry]

Would like to know how losses by Prevost compare to other brand coaches.

I hope to think the Prevost owners are in a class different to others. Hopefully we take better care of our coaches across the total ownership group compared to other brands.

As reported by Fulltimebill the coach that had a tire blowout with 07 tires. I would be surprised to find that age tires on a Prevost.

I agree with Jon that there needs to be an organized effort to get reasonable insurance.

This would require Prevost and converters to make a concerted effort to build a relationship and have a large pool of buy in Prevost owners.

That is a challenge as Jon so indicated that we can’t get a large number of members to go for the fuel discount program.

I want to ask how many have taken their car insurance and divided the car value into the coach value and multiplied the car premium by the result. Then compare that to what you are being charged for the coach premium.

Could we get the group to post loss results to get a comparison of the real exposure to the insurer. That is the type of data to fight the underwriters for realistic premium cost.

A thread for loss data may be appropriate to see how this group will respond to try and get realistic insurance cost.

[Archived]

We would be in for less cost. I push the fuel programs with all of our non prevost friends, and just get blank stares followed by comments about fmca discount or others. I remind them how much the latest fuel program would save. Them. I just throw up my hands.

[Mark]

When owners think they are getting a deal by buying insurance from County Farm Insurance sold to them by a golf buddy, who also sells them car and homeowners insurance it is going to be an impossible task trying to convince them that ACV insurance is going to bite them in the ass, until it does.

If we are unable to get owners to recognize how good a fuel discount program is (I saved $1.12 per gallon last refueling) we are never going to get the needed participation in a group insurance program.

I am attempting to find the loss ratio for professionally converted Prevost coaches, but it is as hard as trying to get the insurance companies to tell you what they determine is ACV before you have a claim.