-
Jon, oh Jon, oh Jon, oh *&(*&^%
For the 7 years I’ve owned the coach, I took the advice of the Godfather and have Agreed Value of $475,000 on my Insurance policy where I’ve spent over $700,000 on the coach. I’ve been biting my tongue and opening my wallet every renewal period for insurance. The new premium came in at $10,000 for next year.
I always consider rolling the dice and going with ACV but I always chicken out…thanks to Jon looming (mentally) over my decision.
I read a few other forums where Prevost owners aren’t as informed as PC folks about ACV vs Agreed value. They aren’t aware of the facts Jon so clearly lays out in his article and periodic posts. Most of what I would call naive Prevost owners go for the cheapest insurance with companies that have no idea of what a Prevost is or who don’t care that you have a Prevost as long as they get your money.
Miller Insurance can’t do anything about the rates and my assignment to Safeco is where I’ve been for the past few years. To date, we haven’t been real travelers since we stay on our lot at Aztec in Florida for winter months and park in my Buffalo, NY garage for the summer. Prevost is registered in Florida. So, seeing it’s parked so often, do I roll the dice and go with ACV????
I see some coach owners tout State Farm who would not give me Agreed Value. FYI, my home and auto insurance has been with Jake at State Farm for decades. Last year, I had the front tire blow out on my toad on I-75. It blew the entire front fender off. Coach wasn’t hurt. 6 months later my wife was in a little fender bender with the toad within Aztec RV Resort. State Farm cancelled the policy on the toad.
So, I’m on the fence again. What to do? Give the insurance thugs their protection money which continually rises each year as the depreciation increases or go for the ACV and take my chances.
-
21 Replies
-
Jimmy,
Sorry for the delay. The PC site is screwing up our log in and as a result it changes my user name making all posts I haven’t read disappear from the list of new posts. Yours was among them.
The solution for me was to give my finger to Safeco, and Miller and beat on my local agent. He and I spent a lot of time talking so he understood I am not accepting a company that doesn’t know a bus conversion from a Camping World special.
The bottom line is my proposed premium from Safeco was just under $10,000 so when we went shopping it was to find a fair price for good coverage. The options suck. But my agent waved his magic wand and got Foremost to provide an agreed value policy of $500,000 for under $4000. Am I satisfied?
Yes in the context of getting coverage for a satisfactory agreed value for a lot less than what Safeco wanted. This from a company that knows it is a converted bus. I gave up full glass coverage and with the cost of windshields and side glass I have some out of pocket exposure, but my first year savings alone should cover that.
I do know our zip code affects premiums so if you have an option, shop based on your different zip codes. I only have the one zip code so I am stuck with the results.
-
Jimmy – so…I sold my ’08 Marathon XLII in March. At the time, I was being charged $3600/yr for $500,000 agreed value with a $2500 deductible. I have a clean record, good credit and used my coach about the same you do. We also live in the same state. I had Progressive Direct. In my case, the best deal was giving them homeowners, cars, bus and umbrella.
-
It must be a zip code thing. Nobody, including Progressive would quote agreed value but Foremost and Safeco for my $500,000 policy.
I had an appraisal at $670,000 that was a lousy over stated appraisal and Safeco would not requote based on the market value, not appraisal.
-
Jon, As we speak, I’m carrying $500K agreed Value on my ’20 London Aire. $1000 deductible at $2800/year.
i have no idea why Progressive won’t quote you. I know they’ll never tell you why.
2000 Featherlite H3-45
2024 Jeep Grand Cherokee
Leesburg, FL -
Jimmy,
Being registered in FL you get hosed and pay a premium because of so many people Jon’s age living the dream. The rates are higher than hell.
-
Ron, I did the on-line thing to get quotes from every insurer I could find that ever used the word RV. I have previously had vehicles insured by Progressive such as my dump trucks. Neither my agent or I could get a quote.
Tom wasn’t joking. Besides zip codes there are a lot of factors insurance companies use to determine if they will offer or quote insurance one being age. That is why Tom is leaving God’s waiting room to see if he can get insurance due to his age. He is already acknowledging his advanced years by downsizing. His next will be the nursing home shuttle bus.
-
In our case, our astronomical insurance cost is based on “HAIL”, and the State Colorado location. Per any insurance agent we talk to. Oh hell!
-
The inherent unfairness is quite visible in this thread. I’m in NY State, 60 miles from the Bronx. I regularly drive through metro NYC traffic. I know you guys in Florida drive using all 4 lanes, but NYC and No Jersey drivers leave a lot to be desired too
-
This talk is really scaring me. If insurance is so hard to come by does it make any sense to keep looking for the right rig. Maybe just getting collision and the hell with the Coach insurance, take a chance. Michael
-
Michael: I’m in Grafton. 1999 Liberty XLV. Nice coverage through Allstate. You’re probably in a “good” zip code. Don’t let insurance keep you from buying!
-
Just out of curiosity Dick, how do you define “nice insurance”?
Do you mean if you have an issue they know a bus conversion regardless of age is going to be incredibly expensive to repair? Of course with an ACV policy all it would take is a full length scrape down the bay doors for Allstate to determine the cost to repair is greater than their estimate of the true market value of the coach so they give you a check and they own your coach.
Or do you mean by “nice insurance” it is inexpensive?
What claims coverage have they provided so you feel confident in suggesting a company that likely doesn’t have a clue what a bus conversion is?
If my questions sound harsh and critical it is because feedback from a number of years has strongly suggested bundling the bus with policies that cover the house and cars may be cheap, but when there is an insurance problem with the coach things get real ugly real fast.
-
Well that is good news, but is your home Zip code the defining factor in insurance rates, and of course the year of the Rig and level of insurance want to insure it for? Home is Green Bay, Wi., winter is Arizona, and Nevada with trips back and forth. Maybe to Florida in January when it snows in Arizona.
-
Have State Farm on everything and have had the same Agent for over 30 years. My 1991 XL in the ten years I’ve owned it has went up to $1200 bucks a year and on a $90,000 value, $500 deductible. Started out at $800 a year. Guess using that math, a $500,000 dollar coach would be over $6000 bucks but who knows.
-
State Farm is one of the insurers who fought like hell to not fully cover claims. The company doing the repairs had to get an independent appraiser to support the estimated repair costs and then when hidden damage was found the fight got really bad.
If I remember the coach was out of service for a very long time while the battles went on.
-
Heck most if not all would do that on a large pay out. In that 30 years with my guy at State Farm, have totaled 2 vehicles, my fault and a couple deer, and wife just went through a bad one back last November when a jerk ran into Her new Lincoln. Progressive drug their feet and State Farm went ahead and fixed car and sued Progressive. Progressive paid off in the end as there driver was issued a ticket. Guess it pays to stay with somebody that’ll take care of you.
Log in to reply.