Insurance

[atom ant]

Anybody out there had good or bad service with Hartford - AARP?

[coloradolivin]

Brad,
We have had them on the vehicles for years (11 maybe ??) Never had to use them for a claim. Did call them about the RW, the gal sort of said under the table that it is not really their "forte' "

[mhs4771]

We had several companies, and I think Hartford was one that wouldn't touch the RW because of it's value. They would only cover RVs in the 40 or 50K value range, at least that was when we were using Western New York as the residence.

[brenkco]

Brad,
I represent Hartford, their claim service is excellent. The AARP RV program is not available to us but depending on the contract (policy terms, conditions and loss settlement options), i would not shy away from them. If you can get a sample policy, pm me & I'll gladly read it and give you my opinion.

RV insurance can be tricky especially the loss settlement provisions after year 5. Most buy policies and have no idea what the actual coverages are until and claim is not covered as expected. These policies are contracts that vary from company to company, state to state. The only way to know is to read the contract or use an agent that is willing to review the policy provisions in clear detail.

Let me know if I can help.

Ken

[atom ant]

How about Good Sam (National Assurance I think)? They quoted me 5 year replacement.

[Enroute]

I have Allied (Nationwide) and have had them for over 20 years. I'm 120% satisfied with the service I've received from them and have no plans to change. I had them before when I was in a stick built and used them again for full timers coverage. My monthly premiums are a little on the more expensive side when compared to others, but I also have an agreed value settlement on the coach, plus more endorsements on my truck, boat, and coach than one can image. One might say I am over-insured, but being I work in the "total loss" world of property & vehicles, I have seen all too ofter the other side of "not enough" coverage. Shop around but no matter who you chose, please do not under insure yourself to save a few dollars per month.

[Dave&Ginny]

I burned my AARP card. I don't care if they start giving away their insurance.

[coloradolivin]

Originally Posted by Dave&Ginny

I burned my AARP card. I don't care if they start giving away their insurance.

What happened to make you so sour ??

[danrn]

Originally Posted by Dave&Ginny

I burned my AARP card. I don't care if they start giving away their insurance.

I kept my AARP, not for insurance, but you can get 20% off at Denny's

[Dave&Ginny]

Originally Posted by coloradolivin

What happened to make you so sour ??

They were part of "you can keep your doctor" routine.

[Russ & Linda]

I agree Dave. We did the same.

[Dave&Ginny]

Originally Posted by brenkco

Brad,
I represent Hartford, their claim service is excellent. The AARP RV program is not available to us but depending on the contract (policy terms, conditions and loss settlement options), i would not shy away from them. If you can get a sample policy, pm me & I'll gladly read it and give you my opinion.

RV insurance can be tricky especially the loss settlement provisions after year 5. Most buy policies and have no idea what the actual coverages are until and claim is not covered as expected. These policies are contracts that vary from company to company, state to state. The only way to know is to read the contract or use an agent that is willing to review the policy provisions in clear detail.

Let me know if I can help.

Ken

It's good to know that we have an insurance expert among us on here to help answer questions. Insurance is one of those things that we all have to have and I think it's misrepresented sometimes (both good and bad).

[atom ant]

Yep Ken has helped me a lot in the background.

[brenkco]

For those that might be interested, here are a few suggestions when buying/ comparing insurance coverage for your Redwood. RV insurance is NOT like other forms of coverage. Making comparisons and buying decisions on price is a huge mistake. Here are a few examples:

A new Redwood is purchased for $100,000. Insurance policy is purchased when the coach is new.

Company A offers 5 year full replacement cost. Year 6, the loss settlement provision calls for ACV (actual cash value, value of the coach at the time of loss---i.e., depreciated value)

Company B offers 5 year full replacement cost. Year 6, the loss settlement provision calls for stated value, purchase price.

Example 1: RV is totaled in an accident, year 4. Both companies pay replacement cost based on similar model. This replacement cost may be greater than the purchase price. Each company might have a different limit in excess of the replacement coverage but in essence, the coverage is the same.

Example 2: The RV is totaled in an accident in year 8. Company A pays the ACV, probably about $30-$40,000. Company B pays $100,000.

Often times, when folks compare their renewals, they find that they can save premium by changing companies. All to often, they make the critical mistake of moving from the GOOD coverage (Company B) to the far less coverage, Company A.

We all know how fast our rigs depreciate so to have full purchase price as the rig ages is a very important coverage.

The problem is that once you make the mistake (moving from Company B to Company A), it is likely that can't be undone. Yes, you should pay less for Company A because the coverage is so much less. I hear all the time that the coverage is the same when in fact it isn't. You must compare the loss settlement provisions when shopping for coverage. Then you can determine if the price difference is worth the coverage/risk.

Finally, rates and coverage vary a great deal from state to state. Hope that helps.

Ken

[spindrift]

Ken...thanks for the explanation. We happen to be shopping right now.

[atom ant]

Ken got me working mine. I just have ACV right now.

Good Sam (GMAC National Assurance seems to want to write 5 year replacement value, but its the MSRP [which was huge back in 2013 before the price drop]) But its expensive.

Allied (pay for price only as replacement value - not sure how many years - but good rates). If I want more value I have to get it appraised (ya right)

[JohnEileen]

When we were looking for insurance after the purchase of the RV it seemed that Good Sam was the only one we talked to that gave replacement value insurance like what we have in our home. The others were like car insurance decreasing value. If there are other that have replacement value we would like to check into it. Currently we are in Indiana, but in two weeks we become residents of FL. Thanks for your help!

[Enroute]

Originally Posted by atom ant

Ken got me working mine. I just have ACV right now.

Good Sam (GMAC National Assurance seems to want to write 5 year replacement value, but its the MSRP [which was huge back in 2013 before the price drop]) But its expensive.

Allied (pay for price only as replacement value - not sure how many years - but good rates). If I want more value I have to get it appraised (ya right)

Brad,
Did Allied talk with you about Agreed Value settlement? Just curious as to what the difference is they are quoting now between agreed value and replacement cost @ 5 years??

[atom ant]

Yes we just talked yesterday and I'm still a bit confused. The first 5 are replacement value, and after that agreed value is an option, however that needs to be an appraised agreed value, so I would have to take it in to get it appraised after the 5th year.

I'm still pursuing it a bit.

[lwg]

Originally Posted by atom ant

Yes we just talked yesterday and I'm still a bit confused. The first 5 are replacement value, and after that agreed value is an option, however that needs to be an appraised agreed value, so I would have to take it in to get it appraised after the 5th year.

I'm still pursuing it a bit.

I'd be curious how they'd appraise the value of an RV. Determining the value of an RV (new or used) seems one of the most difficult things to do based on the limited information out there. I always just reference RVtrader for pricing and go from there. But even that has it's limitations based on current supply and demand.