Skip to main content ↑ ↓
Topic: Insurance (Read 2183 times) previous topic - next topic
0 Members and 1 Guest are viewing this topic.

Insurance

Yahoo Message Number: 47469
I've been following the thread on insurance because I'm looking to change from Progressive. Third year in a row for an increase with no claims filed. This one was 12.3% and now I'm over $1,600. I got a quote from Geico for under $1,100.

I did a search but can find no mention of Geico on this Forum.

Has anyone has any experince with them?

Would welcome any comments for or against.

George

'04 Inspire 51061

Re: Insurance

Reply #2 –
Yahoo Message Number: 47486
We live in Delaware. We too have the reducing deductible and are down to $250. No claims but a 12.3% interest. Neither Progressive nor Agent can explain.
George
'04 Inspire 51061

Insurance

Reply #3 –
Yahoo Message Number: 47487
A couple of notes on insurance. On any insurance policy the first thing to check is what the exclusions are. Read these carefully. For example, in some policies your are covered in Mexico, but only 25 miles into the country. If you are trying to save money, ask yourself if you really do need PIP/Med Pay and Uninsured/under-insured coverage. Check with your agent and ask he/she what would happen if you don't have these coverages. do have collision, and should have an accident with an uninsured/under-insured driver. If you have good health insurance, do you really need PIP or Med Pay? Ask your agent. Agents tend to "stack" policies to avoid any potential gap in coverage and to keep themselves out of any potential errors and omissions claims. Always carry high limits of liability, have a brake on your toad, and add ERS (emergency road service) to your policy. In Texas you can get $120.00 worth or ERS for $2.40 per year. This is not much, but will help cover what Good Sam or Coach Net does not. If you have Coach Net you will need it. .

R. D. Vanderslice
06 Allure 470 31294

Insurance

Reply #5 –
Yahoo Message Number: 47510
We have Geico for the motorhome and the car. Fortunately we haven't had any claims so I don't have any experience on that account. We are paying $1,200 annually for both the car and the coach. We signed up at the Pomona RV rally last October. They were great in helping us get the needed limits to meet our umbrella policy. We are licensed in New Mexico.

Linda

Magna 6925

A Good Credit Score is 700 or Above. See yours in just 2 easy steps!

Insurance

Reply #6 –
Yahoo Message Number: 47517
In email today:

Dear PoliSeek RV Insurance Customer,
"Several months ago, you received word that Aon Recreation Insurance was undergoing a change in our brand name. Today, we are happy to report the transition is complete; welcome to Poliseek RV! We invite you to visit us online at PoliSeekRV.com and save it in your favorites. While there, visit our articles area, learn more about the staggering benefits of specialty RV insurance, or make an on-line service request to manage your policy."

Aon has been good to me.
--

God Bless You,

Eric Lee Elliott      Read the Holy Bible, eric@...      it is good for the soul phone 870.613.1398
phone 800.827.5038

PMB 6755, 167 Rainbow Dr. National Rifle Association Life Member Livingston TX 77399-1067

http://eric-elliott.com    Common sense is not

Insurance

Reply #7 –
Yahoo Message Number: 51729
One thing to keep in mind when someone is explaining their policy coverage and or cost is that it will not mean a thing to you unless you are from the same state as they are from. Even if they are issued from the same company, makes no difference. Each state regulates their own insurance. Ima Hogg from Texarkana, Texas could have a very different policy than her neighbor, Billy Bob, who lives across the street in Texarkana, Texas, even though they are from the same company. You're wasting a lot of time comparing apples and oranges. As always, one of the first things to look at in any insurance policy are the exclusions.

R. D. Vanderslice
06 Allure 470 31294

Re: Insurance

Reply #8 –
Yahoo Message Number: 51730

Very well said, when you insure something for more than the actual worth you are crossing a fine line, now how to come up with the actual value is to have a certified apprasial, other than that I'm a little lost about insuring a 5yr old MH at more than the actual price that you can sell it for...now if NADA is a good rule of thumb, lately I don't think so... I do know that I had to send a bill of sale to my insurance carrier...
Marvin 07 Allure 470 31459


From: R. D. Vanderslice To: country-coach-owners@yahoogroups.com Sent: Thursday, September 10, 2009 11:15:04 AM Subject: [Country-Coach-Owners] Insurance

One thing to keep in mind when someone is explaining their policy coverage and or cost is that it will not mean a thing to you unless you are from the same state as they are from. Even if they are issued from the same company, makes no difference. Each state regulates their own insurance. Ima Hogg from Texarkana, Texas could have a very different policy than her neighbor, Billy Bob, who lives across the street in Texarkana, Texas, even though they are from the same company. You're wasting a lot of time comparing apples and oranges. As always, one of the first things to look at in any insurance policy are the exclusions.
R. D. Vanderslice
06 Allure 470 31294

[/font][/size]
[/font][/size]
[/font][/size]

Re: Insurance

Reply #9 –
Yahoo Message Number: 51733
Very true R. D. but there are some things that I don't believe any insurance company in any state will do. One would be to replace a 4.9 year old coach that is a total loss with a brand new 2010 coach of similar model and options. Write you a check for the full contract value of the coach when you purchased it, yes. That is called 'full replacement cost'.
The second would be to pay the full contract value of the coach beyond 5 years even if you do stay with the original company. What typically is available is 'replacement cost' where you provide what you think the coach is worth NADA or otherwise or if you want leave it at the original contract value. The company usually prices the option based on that value. It doesn't matter as the company will only write you a check for the current market value of the coach or the value you provided whichever is the lowest.
The wording and exact details may vary from state to state and company to company but I believe that the general jest will be the same. While it may be possible to get a company to underwrite the two options, I would hate to see the premium. I really don't think so because it is something that the insurance company cannot develop a risk factor in terms of possible cost to them. They are in the business of risk taking but not gambling.

Just my slant on it.

Don Seager

2004 Allure 31046

Re: Insurance

Reply #10 –
Yahoo Message Number: 51735
Marvin, you're right about that fine line. When a person insures something for more than its value, it creates what is called in the insurance industry a "moral risk". Claims at that point are looked at very carefully and usually end up in the SIU (Special Investigative Unit). The most popular and very worst example is jewelry. Someone buys a piece of jewelry for say $1,000 and the person they buy it from gives them an appraisal for $1,500 or so. These are what are called in the insurance industry "ego" appraisals. The jeweler, or whomever, tells them they are getting "a deal" and that the piece of jewelry is actually worth a lot more than they are selling it for. When the buyer gets that piece of paper in their hand with the inflated amount, everybody is happy. They go tell all their friends what a steal they got. Really? Now, at the time of loss most policies will only pay what the person paid for the piece, ACV (actual cash value), or in some cases replace the piece for the insured for possibly less than they paid for it. So what happens is the insured has over paid premium based on the inflated appraisal. Like you said, it is a fine line, however, there is nothing wrong with the inflation coverage that may increase the value and/or replacement cost based on the new higher value that was a result of inflation or price increase. if that is truly the case. It' a complicated subject, to say the least.

R. D. Vanderslice
06 Allure 470 31294

--- On Thu, 9/10/09, Marvin Thigpen wrote: From: Marvin Thigpen Subject: Re: [Country-Coach-Owners] InsuranceTo: Country-Coach-Owners@yahoogroups.comDate: Thursday, September 10, 2009, 10:38 AM
Very well said, when you insure something for more than the actual worth you are crossing a fine line, now how to come up with the actual value is to have a certified apprasial, other than that I'm a little lost about insuring a 5yr old MH at more than the actual price that you can sell it for...now if NADA is a good rule of thumb, lately I don't think so... I do know that I had to send a bill of sale to my insurance carrier...Marvin 07 Allure 470 31459 From: R. D. Vanderslice To: country-coach- owners@yahoogrou ps.comSent: Thursday, September 10, 2009 11:15:04 AMSubject: [Country-Coach- Owners] Insurance One thing to keep in mind when someone is explaining their policy coverage and or cost is that it will not mean a thing to you unless you are from the same state as they are from. Even if they are issued from the same company, makes no difference. Each state regulates their own insurance. Ima Hogg from Texarkana, Texas could have a very different policy than her neighbor, Billy Bob, who lives across the street in Texarkana, Texas, even though they are from the same company. You're wasting a lot of time comparing apples and oranges. As always, one of the first things to look at in any insurance policy are the exclusions.

R. D. Vanderslice
06 Allure 470 31294
 

Re: Insurance

Reply #11 –
Yahoo Message Number: 51737
Don, I don't know anything about these so called "RV replacement policies", but I would be highly suspect. Now I could see the insurance company paying you what you paid for your coach, even several years later if you paid the extra premium for that coverage. But, paying you what it cost to replace it with "like quality and kind" years later is a reach. Nearly all policies are ACV (actual cash value at the time of loss) if not more than the stated value at time of policy issuance. In some cases that could be a little more than you paid for it, if the loss were very early in the policy period. I whole heartily agree with you last sentence that insurance is not a gamble. I hear people say that all the time "insurance is a gamble. It's not and never has been. Gambling is when you create your own risk. You step up to the slot machine and drop a dollar in. You had nothing to lose before you put your dollar into the slot machine. If you don't insure your home, you have a lot to lose. The risk is there whether you choose to do anything to alleviate it or not.

R. D. Vanderslice
06 Allure 470 31294

--- On Thu, 9/10/09, Don Seager wrote: From: Don Seager Subject: Re: [Country-Coach-Owners] InsuranceTo: Country-Coach-Owners@yahoogroups.comDate: Thursday, September 10, 2009, 11:47 AM
Very true R. D. but there are some things that I don't believe any insurance company in any state will do. One would be to replace a 4.9 year old coach that is a total loss with a brand new 2010 coach of similar model and options. Write you a check for the full contract value of the coach when you purchased it, yes. That is called 'full replacement cost'.
The second would be to pay the full contract value of the coach beyond 5 years even if you do stay with the original company. What typically is available is 'replacement cost' where you provide what you think the coach is worth NADA or otherwise or if you want leave it at the original contract value. The company usually prices the option based on that value. It doesn't matter as the company will only write you a check for the current market value of the coach or the value you provided whichever is the lowest.
The wording and exact details may vary from state to state and company to company but I believe that the general jest will be the same. While it may be possible to get a company to underwrite the two options, I would hate to see the premium. I really don't think so because it is something that the insurance company cannot develop a risk factor in terms of possible cost to them. They are in the business of risk taking but not gambling.

Just my slant on it.

Don Seager

2004 Allure 31046

One thing to keep in mind when someone is explaining their policy coverage and or cost is that it will not mean a thing to you unless you are from the same state as they are from. Even if they are issued from the same company, makes no difference. Each state regulates their own insurance. Ima Hogg from Texarkana, Texas could have a very different policy than her neighbor, Billy Bob, who lives across the street in Texarkana, Texas, even though they are from the same company. You're wasting a lot of time comparing apples and oranges. As always, one of the first things to look at in any insurance policy are the exclusions.

R. D. Vanderslice
06 Allure 470 31294