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Keeping Agreed Value Coverage
Thanks to Mark in Duluth, I was able to meet Melissa Thum of the Thum Insurance Agency. She was a joy to work with and very accommodating.
My current policy was jumping by $1300 which is nearly double. The agency said no other agreed value policy was available and I would be back to ACV to keep the same cost as this year.
In hardly no time, Melissa had me set up with a Progressive Agreed Value Policy with the same coverage for less than I spent this year.
So, Thanks Mark
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30 Replies
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Hi Rudy, When I had Miller Insurance search for a declared value policy for my bus. Progressive was the only carrier who offered it. I’m glad you got it set up the way you want it The Lord only knows what a nightmare Insurance can be.
Harry
Jeff and Lindsay
91 Marathon XL -
Miller switched us to PROGRESSIVE after Nationwide wouldn’t renew after our emissions testing damage. Got “agreed value appraisal” is $210K and our progressive premium is $68470 for one year. Geeze!! And yes coach is registered in our own names, NOT in an LLC or company. It’s registered in our home state of Colorado using our home address in Jim n Chris’s name But since we LIVE in Colorado and we have had insurance claims on our home and business roofs from May 8th 2017 baseball sized hail, miller got us AGV Progressive policy after Nationwide canceled us. Our agreed value for bus is $210,000 with Progressive has annual premium of $6,847
1999 XLV X-6872, liberty #440 -
J and C,
That doesn’t sound right, we have $1.7M coverage with $1K deductible for just under $14K.
M.
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Harry, Mr Mark. I checked with our agent today. All insurance companies talk with one another. Although we have had a single repair claim on the bus two years ago, we’ve had 53 claims last year from roof hail damage. This all counts against us. Doesn’t matter if our business’s roof aren’t with progressive, it still dings us big time. Colorado has had an inordinate Number of weather related insurance claims. Those Poor people in latest storm disasters areas will see their premiums get screwed to the wall too!
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That really bites to be dinged by the Insurance company for Mother Nature! Having a moving violations or accidents with another vehicle is one thing. Being in a natural disaster seems quite enough without your insurance company jumping ugly on you! Can you say “Jumping Ugly” on the forum?
Harry
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Jim, I am not following you. Is your business held in your name personally like a sole P or something? Unless I am missing something or things are different in MO. Business claims should not impact personal rates.
Bill
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The coach might be registered to the business. And if so just being a commercial vehicle impacts rates.
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While plausible, our coach is licensed in our name in our state. This is why we must have an annual emissions test.
Our agent gave me initially one word reason for our high rates. Colorado. All claims effect all of your insurance. Our company has an name of its own btw, but it boils down to a dba
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So your bus is titled and insured as a corporate vehicle?
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Just got my Safeco agreed value invoice. The annual premium is up 24% for same coverage !!! Monopolies are not a good thing!
Anyone know of another insurance company doing agreed value?
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Progress does Doug! And a Happy New Year to you and Mary!
Harry
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Doug,
Did you read the first post of this thread?
Thum Ins
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Nope , licensed and insured personal name in home state. No LLC
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VRudy
so we can compare apples to apples, what year is your coach and what is your home state, and agreed value to premium cost. Stating your premium was to jump by $1300 on old policy , we have no benchmark for comparison.
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Thanks Rudy. I’ll try Thum tomorrow … as an ex-Foretravel owner.
I got a rate today through Good Sam … same coverage as Safeco for 74% more. Such a deal!
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