| [GMCnet] Attn. Gene Barrow [message #193006] |
Sat, 15 December 2012 00:05  |
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USAussie
Messages: 15912
Registered: July 2007
Location: Sydney, Australia
Karma: 6
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Senior Member |
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Gene,
Can you confirm that you'll receive $15,000?
Regards,
Rob M.
-----Original Message-----
From: Rob Mueller
Gene,
I assume that Amerprise will send you a hard copy of your policy, when you receive it could you confirm that it states unequivocally
that in case of a total loss you will receive $15,000?
Regards,
Rob M.
-----Original Message-----
From: gmclist-bounces@temp.gmcnet.org [mailto:gmclist-bounces@temp.gmcnet.org] On Behalf Of gene barrow
Talk to the source.
We "Agreed" that my value was the $15,000 that I requested. No discussion or argument; the term "fair market value" never came up.
Perhaps because my expectation was not outrageous Just sent pictures of all 4 sides and they agreed to my number.
Some one else should give it a try before ya'll shoot the messenger.
If you expect $50,000 value for a rolling wreck, you may have difficulty getting "Agreement".
These folks aren't stupid. They are in the risk management business.
Good Luck
--
Gene
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Regards,
Rob M. (USAussie)
The Pedantic Mechanic
Sydney, Australia
'75 Avion - AUS - The Blue Streak TZE365V100428
'75 Avion - USA - Double Trouble TZE365V100426
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| Re: [GMCnet] Attn. Gene Barrow [message #193275 is a reply to message #193006] |
Tue, 18 December 2012 09:57  |
gbarrow2
Messages: 765
Registered: February 2004
Location: Lake Almanor, Ca./ Red Bl...
Karma: 3
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Senior Member |
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Rob,
More than you wanted to know, but here it is. Hope it helps some one.
I took your suggestion; read my new Ameirprise policy and found that it is an “actual cash value” policy. Even though I had discussed ”agreed value” with the agent believed that was what I was getting.
As usual, Emery is right. Below is a quote from an earlier thread about agreed value Insurance.
“Gene,
I doubt that you actually have an "agreed value" policy but probably have a "stated value" policy. Unless your policy has a specific clause or a rider that shows a specific amount that will be paid in the event of a total loss. I have never seen an agreed value policy written by an insurance agency without providing an appraisal on the motorhome. Just giving pictures of it doesn't satisfy the requirements”
After reading the policy I e-mailed the agent who referred me to customer service, who connected me with an “in house” broker who places policies with other companies when Ameriprise can’t supply a particular product. He checked several carriers , including Progressive, but could not deliver an agreed value policy.
I called Miller Insurance{as suggested by others on this forum) and got a quote for a $20,000 agreed value policy from Progressive subject to an appraisal.
So when I get the appraisal from Jim K. I will be changing back to Progressive for the agreed value policy.
Interestingly, the “agreed value” quote from Miller Insurance is LESS than Ameirprise and less than my previous Progressive "actual cash value" policy obtained from a different agency. Of course I have the added expense of the appraisal but certainly worth the cost if I have an accident
Lesson #1 Read the documents
Lesson #2 All agents/brokers are not created equal.
Your local Progressive agent may or may not be able to provide an "agreed value" policy from Progressive. Depends on their contract/relationship with the company.
Like "tire wars" and crapahol, this topic wil be revisited again in a few months.
Gene Barrow
Lake Almanor, Ca.
1976 Palm Beach
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| Re: [GMCnet] Attn. Gene Barrow [message #193285 is a reply to message #193275] |
Tue, 18 December 2012 15:27 |
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USAussie
Messages: 15912
Registered: July 2007
Location: Sydney, Australia
Karma: 6
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Senior Member |
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Gene,
It wasn't more than I wanted to know but I'll bet when you realized it was an actual cash value and NOT an agreed value policy it
was something you wanted to know!
Bottom line: when it comes to insurance on a GMC review your policy CAREFULLY and if you don't see the words "AGREED VALUE" and your
coach is totaled you're going to get whatever the insurance company says your GMC is worth.
Regards,
Rob M.
-----Original Message-----
From: gene barrow
Rob,
More than you wanted to know, but here it is. Hope it helps some one.
I took your suggestion; read my new Ameirprise policy and found that it is an actual cash value policy. Even though I had discussed
agreed value with the agent believed that was what I was getting.
As usual, Emery is right. Below is a quote from an earlier thread about agreed value Insurance.
Gene,
I doubt that you actually have an "agreed value" policy but probably have a "stated value" policy. Unless your policy has a specific
clause or a rider that shows a specific amount that will be paid in the event of a total loss. I have never seen an agreed value
policy written by an insurance agency without providing an appraisal on the motorhome. Just giving pictures of it doesn't satisfy
the requirements.
After reading the policy I e-mailed the agent who referred me to customer service, who connected me with an in house broker who
places policies with other companies when Ameriprise can't supply a particular product. He checked several carriers , including
Progressive, but could not deliver an agreed value policy.
I called Miller Insurance{as suggested by others on this forum) and got a quote for a $20,000 agreed value policy from Progressive
subject to an appraisal.
So when I get the appraisal from Jim K. I will be changing back to Progressive for the agreed value policy.
Interestingly, the agreed value quote from Miller Insurance is LESS than Ameirprise and less than my previous Progressive "actual
cash value" policy obtained from a different agency. Of course I have the added expense of the appraisal but certainly worth the
cost if I have an accident
Lesson #1 Read the documents
Lesson #2 All agents/brokers are not created equal.
Your local Progressive agent may or may not be able to provide an "agreed value" policy from Progressive. Depends on their
contract/relationship with the company.
Like "tire wars" and crapahol, this topic wil be revisited again in a few months.
--
Gene Barrow
Lake Almanor, Ca.
1976 Palm Beach
_______________________________________________
GMCnet mailing list
Unsubscribe or Change List Options:
http://temp.gmcnet.org/cgi-bin/mailman/listinfo/gmclist
_______________________________________________
GMCnet mailing list
Unsubscribe or Change List Options:
http://temp.gmcnet.org/cgi-bin/mailman/listinfo/gmclist
Regards,
Rob M. (USAussie)
The Pedantic Mechanic
Sydney, Australia
'75 Avion - AUS - The Blue Streak TZE365V100428
'75 Avion - USA - Double Trouble TZE365V100426
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| Re: [GMCnet] Attn. Gene Barrow [message #193293 is a reply to message #193285] |
Tue, 18 December 2012 19:16 |
gbarrow2
Messages: 765
Registered: February 2004
Location: Lake Almanor, Ca./ Red Bl...
Karma: 3
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Senior Member |
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coach is totaled you're going to get whatever the insurance company says your GMC is worth.
Regards,
Rob M.
Ten-4.
That's exactly what I want to avoid.
Thanks for insisting that I review the docs.
Gene Barrow
Lake Almanor, Ca.
1976 Palm Beach
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| Re: [GMCnet] Attn. Gene Barrow [message #193319 is a reply to message #193285] |
Wed, 19 December 2012 06:08 |
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mike miller
Messages: 3576
Registered: February 2004
Location: Hillsboro, Oregon
Karma: 0
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Senior Member |
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| Robert Mueller wrote on Tue, 18 December 2012 13:27 |
...
Bottom line: when it comes to insurance on a GMC review your policy CAREFULLY and if you don't see the words "AGREED VALUE" and your coach is totaled you're going to get whatever the insurance company says your GMC is worth.
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I figure it you want to go "whole hog" with "Agreed Value" or go with no coverage on the coach itself. The "middle ground" seems to leave you at the mercy of what the insurance company feels like paying. (And how much do you think they want to pay for a 40 year old motorhome?)
<http://gmcmotorhome.info/buygmc.html#FREE>
"...
You can pay $600 to $900 per year, for comprehensive or agreed value insurance and in 10 years you will have paid more for insurance than your GMC is worth. Unless you have an "agreed value" policy, the insurance company will pro-rate your loss claim to the market value and give you $6K for your loss. ..."
Mike Miller -- Hillsboro, OR -- on the Black list
(#2)`78 23' Birchaven Rear Bath -- (#3)`77 23' Birchaven Side Bath
More Sidekicks than GMC's and a late model Malibu called 'Boo'
http://m000035.blogspot.com
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