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| [GMCnet] Progressive Insurance [message #88585] |
Mon, 14 June 2010 18:32  |
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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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G’day,
I arrive in Houston this Friday and I just called Progressive Insurance to
get a policy on Double Trouble. I was told that “we no longer offer Agreed
Value Policies on old motor homes.” I took the policy anyway as I need
insurance and figured I could ask you guys to check with your underwriters
to verify that if someone buys insurance for a 1973 – 1978 motorhome they
would arrange an agreed value policy. Once I found a company that would
issue an Agreed Value Policy I would cancel the Progressive policy.
Rob Mueller
Sydney, Australia
AUS '75 Avion-The Blue Streak TZE365V100428
USA '75 Avion-Double Trouble TZE365V100426
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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] Progressive Insurance [message #88592 is a reply to message #88585] |
Mon, 14 June 2010 19:47  |
Rusty
Messages: 197
Registered: October 2005
Location: Philadelphia Pa
Karma: 0
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Senior Member |
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Shoot, I have progressive. I wonder if this means when my policy cycles, they will not renew it with the Agreed Value clause. I'll call em tommorrow.
Rusty
75 Glenbrook
Philadelphia Pa
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| Re: [GMCnet] Progressive Insurance [message #88618 is a reply to message #88585] |
Tue, 15 June 2010 00:42 |
zhagrieb
Messages: 676
Registered: August 2009
Location: Portland Oregon
Karma: 0
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Senior Member |
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Try National Interstate in Richfield OH. through their agent, Explorer RV insurance also in Richfield OH. 888 774-6778.
Glenn Giere
Glenn Giere, Portland OR, K7GAG
'73 "Moby the Motorhome" 26'
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| Re: [GMCnet] Progressive Insurance [message #88650 is a reply to message #88593] |
Tue, 15 June 2010 09:18 |
bhayes
Messages: 263
Registered: March 2010
Karma: 1
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Senior Member |
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Same deal as Mac. I called USAA for an insurance quote on a '76 Eleganza a
few weeks ago, and they transferred me to Progressive. The Progressive rep
was willing to do an agreed value policy.
On Mon, Jun 14, 2010 at 6:52 PM, D C *Mac* Macdonald <k2gkk@hotmail.com>wrote:
>
> I got $10k agreed value from Progressive when I bought Money Pit in March.
> It was through USAA, though. That may have made the difference.
>
> * Mac Macdonald *
> * USAF, Retired *
> * Oklahoma City *
> ** "Money Pit" **
> * '76 ex - P.B. *
>
>
>
>
> > From: robmueller@iinet.net.au
> > To: gmclist@temp.gmcnet.org
> > Date: Tue, 15 Jun 2010 09:32:31 +1000
> > Subject: [GMCnet] Progressive Insurance
> >
> > G’day,
> >
> > I arrive in Houston this Friday and I just called Progressive Insurance
> to
> > get a policy on Double Trouble. I was told that “we no longer offer
> Agreed
> > Value Policies on old motor homes.” I took the policy anyway as I need
> > insurance and figured I could ask you guys to check with your
> underwriters
> > to verify that if someone buys insurance for a 1973 – 1978 motorhome they
> > would arrange an agreed value policy. Once I found a company that would
> > issue an Agreed Value Policy I would cancel the Progressive policy.
> >
> > Rob Mueller
> > Sydney, Australia
> > AUS '75 Avion-The Blue Streak TZE365V100428
> > USA '75 Avion-Double Trouble TZE365V100426
> _______________________________________________
> GMCnet mailing list
> List Information and Subscription Options:
> http://temp.gmcnet.org/cgi-bin/mailman/listinfo/gmclist
>
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Bryan Hayes
'76 Eleganza II
Salt Lake City, Utah
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| Re: [GMCnet] Progressive Insurance [message #88653 is a reply to message #88585] |
Tue, 15 June 2010 09:35 |
Basheik
Messages: 34
Registered: January 2004
Karma: 0
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Member |
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Rusty,
I also live in PA.
I have Progressive for my 2 GMC's and it came up for renewal a
month ago. Included with the invoice was a booklet titled "Pennsylvania
Motor Home Policy". Reading it makes your head swim but on page 17, under
Total Loss Replacement, it states " when the covered vehicle is, at the time of
loss, the fifth preceding model year or older, the applicable limit of
liability will be the purchase price". There is a different paragraph for 4
year or newer models.
You may need your "proverbial" Philadelphia attorney to decipher
it all, but that's what mine says now.
Andy M, W PA
75 & 77 PB's
In a message dated 6/14/2010 8:48:06 P.M. Eastern Daylight Time,
gmc@bauerlein.com writes:
Shoot, I have progressive. I wonder if this means when my policy cycles,
they will not renew it with the Agreed Value clause. I'll call em tommorrow.
--
Rusty
75 Glenbrook
Philadelphia Pa
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| Re: [GMCnet] Progressive Insurance [message #88655 is a reply to message #88585] |
Tue, 15 June 2010 09:54 |
Basheik
Messages: 34
Registered: January 2004
Karma: 0
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Member |
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Rusty,
Let me add to my previous.
My Progressive Invoice includes as an item for each GMC, a
premium for "Collision" which is for damage or total loss to my RV's.
77 GMC - 'The lessor of Actual Cash Value at time of loss less
deductible of $500 or $16,000
75 GMC -
..................................................................... less deductible of $500 or $25,000
Added premium for those was $44 and $54.
That sounds like an argument over the words Cash Value but I hope
I never have to use it.
Andy M, W PA
75 & 77 GMC's
In a message dated 6/15/2010 10:35:40 A.M. Eastern Daylight Time,
Basheik@aol.com writes:
Rusty,
I also live in PA.
I have Progressive for my 2 GMC's and it came up for renewal a
month ago. Included with the invoice was a booklet titled "Pennsylvania
Motor Home Policy". Reading it makes your head swim but on page 17, under
Total Loss Replacement, it states " when the covered vehicle is, at the
time of
loss, the fifth preceding model year or older, the applicable limit of
liability will be the purchase price". There is a different paragraph
for 4
year or newer models.
You may need your "proverbial" Philadelphia attorney to decipher
it all, but that's what mine says now.
Andy M, W PA
75 & 77 PB's
In a message dated 6/14/2010 8:48:06 P.M. Eastern Daylight Time,
gmc@bauerlein.com writes:
Shoot, I have progressive. I wonder if this means when my policy cycles,
they will not renew it with the Agreed Value clause. I'll call em
tommorrow.
--
Rusty
75 Glenbrook
Philadelphia Pa
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| Re: [GMCnet] Progressive Insurance [message #88663 is a reply to message #88592] |
Tue, 15 June 2010 10:44 |
nchapekis
Messages: 165
Registered: February 2004
Location: Ypsilanti, MI
Karma: 0
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Senior Member |
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| Rusty wrote on Mon, 14 June 2010 20:47 |
Shoot, I have progressive. I wonder if this means when my policy cycles, they will not renew it with the Agreed Value clause. I'll call em tommorrow.
|
I spoke with Progressive's underwriting department this morning and they confirmed that they no longer offer agreed value policies on motorhomes. However this is for new business only. Existing policies are grandfathered in, so if you already have coverage on an agreed value basis you get to keep it.
| Basheik wrote on Tue, 15 June 2010 10:54 Mon, 14 June 2010 20:47 |
'The lesser of Actual Cash Value at time of loss less deductible of $500, or $16,000'
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This is what is called a "Stated Value" policy, not to be confused with "Agreed Value". Stated value policies work only to the advantage of the insurance company. They use YOUR stated value (in this case $16,000) to set the premium. They won't pay more than that value in the event of a total loss, but they may pay less, depending THEIR determination of "Actual Cash Value", i.e. replacement value LESS depreciation. Therefore, if you overstate the value you get to pay more premium but get no addtional coverage. If you understate the value you won't get enough to cover your loss (even if you use the correct stated value it's unlikely you'll be compenstated for what you have invested).
With Progressive now out of the picture, are there any other carriers writing agreed value policies on motorhomes?
Nick Chapekis
Ypsilanti, MI
former owner - 78 Kingsley
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| Re: [GMCnet] Progressive Insurance [message #88686 is a reply to message #88585] |
Tue, 15 June 2010 14:55 |
Bob de Kruyff
Messages: 4260
Registered: January 2004
Location: Chandler, AZ
Karma: 1
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Senior Member |
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""I arrive in Houston this Friday and I just called Progressive Insurance to
get a policy on Double Trouble. I was told that “we no longer offer Agreed
Value Policies on old motor homes.” I took the policy anyway as I need
insurance and figured I could ask you guys to check with your underwriters
to verify that if someone buys insurance for a 1973 – 1978 motorhome they
would arrange an agreed value policy. Once I found a company that would
issue an Agreed Value Policy I would cancel the Progressive policy.""
I have an agreed value policy with Progressive here in AZ. However, I realized after moving from Mi, that motorhome policies can vary greatly by state evn with the same company. In michigan I had agreed value with AAA--even though everyone told me AAA didn't do so.
Bob de Kruyff
78 Eleganza
Chandler, AZ
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| Re: [GMCnet] Progressive Insurance [message #88791 is a reply to message #88653] |
Wed, 16 June 2010 03:25 |
jtblank
Messages: 237
Registered: June 2007
Location: Tulare, CA
Karma: 1
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Senior Member |
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Andy,
You got me nervous so I looked up my policy and the following is abstract from the policy... specifically about agreed value. If you have agreed value policy then that is the amount you would receive in event of a total loss, if you don't have agreed value then you will have a fight on your hands as they will want to "low ball" your loss with the actual cash value. Then paragraph b gets a bit iffy (highlighted in red) about "other than total loss" as it is limited to the lowest of the four indicated calculations. The first calculation indicates actual cash value less deductible and salvage could lead to another battle. I think this needs clarified as actual cash value should equal the agreed value.
Does everyone else's policy with Progressive read like this?
Just shows you need to read every line of the policy! Classic example of ASSUME.
INSURING AGREEMENT - AGREED
VALUE COVERAGE
If you purchase Agreed Value Coverage under this
Part IV for a covered vehicle, then subsection 1 of
the Limits of Liability provision under this Part IV shall
not apply and the following provision shall apply to a
loss to that covered vehicle:
1. The limit of liability for a loss to a covered vehicle
for which Agreed Value Coverage was purchased
is as follows:
a. for a total loss to a covered vehicle which
has an agreed value supported by the
proper documentation, our limit of liability is
the agreed value, reduced by its salvage
value if you or the owner retain the salvage;
and
b. for a loss other than a total loss to a covered
vehicle, or for a total loss where the
agreed value is not supported by proper
documentation, our limit of liability is the
lowest of:
(i) the actual cash value of the stolen or
damaged property at the time of the
loss, reduced by:
(a) the applicable deductible as shown
on the Declarations Page; and
(b) its salvage value if you or the
owner retain the salvage;
(ii) the amount necessary to replace the
stolen or damaged property, reduced by:
(a) the applicable deductible as shown
on the Declarations Page; and
(b) its salvage value if you or the
owner retain the salvage;
(iii) the amount necessary to repair the
stolen or damaged property to its preloss
condition, reduced by the applicable
deductible as shown on the Declarations
Page; or
(iv) the agreed value, reduced by the salvage
value of the covered vehicle if
you or the owner retain the salvage.
“Proper documentation” is the documentation
required by us to support the agreed value for
a covered vehicle.
John Blankenship
'76 Palm Beach
Tulare, CA
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| Re: [GMCnet] Progressive Insurance [message #88809 is a reply to message #88732] |
Wed, 16 June 2010 08:37 |
nchapekis
Messages: 165
Registered: February 2004
Location: Ypsilanti, MI
Karma: 0
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Senior Member |
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| Robert Mueller wrote on Tue, 15 June 2010 19:05 |
It appears that if you call Progressive directly they WILL NOT write an agreed value policy on our GMC's, however, if you call one of their agents they will.
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Rob -
I actually am an agent for Progressive (as well as over 15 other insurance companies). When I called Progressive yesterday, I spoke directly with an underwriting manager who confirmed the fact that they no longer write agreed value policies on new business (even for agents).
Since Progressive previously provided the type of coverage we needed, and at a competitive price, I never really bothered to explore other options. However, their discontinuation of the agreed value endorsement prompted me to get in touch with a company out of Akron, OH that specializes in RV insurance. They are not an agency, but rather a program administrator for an insurance carrier. From their website:
"Recreation Insurance Specialists, LLC is the exclusive program administrator for Companion Property and Casualty Insurance Company’s specialty RV insurance program. Companion Property & Casualty Insurance Group is a subsidiary of BlueCross/BlueShield of South Carolina and is headquartered in Columbia, SC."
Further research on Companion's A.M. Best rating turned up the following:
Rating - A (Excellent)
Financial Size Category - VIII ($100 Million to $250 Million)
Outlook - Stable
After our phone conversation, in which I explained a little about the GMC community and the unique coverage our coaches require, I received the following email:
Nick,
Thank you for the call. I enjoyed our conversation. I discussed this with our Product Managers and we are very comfortable providing insurance on these units as long as we have appraisals (for those seeking agreed value coverage.)
I plan to spend a little more time on the sites you gave me and I will be in touch. In the meantime you and your fellow GMC owners can submit a quote request through our website. There is a model year limitation on the site which we would ultimately change to accommodate these units. For now they can be submitted through our site as a 1984 model year.
I look forward to discussing this further.
Take care,
Eric Raudins
COO
RIS Holdings, LLC
(330)665-3719
Here is their website:
www.blueskyrvinsurance.com
They told me they write in 40 states (although the website says just 33), so the program won't be available to everyone. The only thing I'm not sure about is their pricing. I am awaiting a quote as I write this so I'll follow up once I receive it.
Nick Chapekis
Ypsilanti, MI
former owner - 78 Kingsley
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| Re: [GMCnet] Progressive Insurance [message #88812 is a reply to message #88810] |
Wed, 16 June 2010 08:56 |
nchapekis
Messages: 165
Registered: February 2004
Location: Ypsilanti, MI
Karma: 0
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Senior Member |
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| WD0AFQ wrote on Wed, 16 June 2010 09:40 |
Hey Nick, Thanks a bunch.
Would you want to give a talk on this at Du Quoin?
Dan
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Well, I got the quote back within 15 minutes of submission and it is very close to what I'm currently paying. So it would appear that this is a viable market.
As far as Du Quoin, I'd be willing to do a talk/Q&A but I don't know for sure yet if I'll be able to attend. There is also a possibility that a company rep from Blue Sky would be able to do a presentation.
Nick Chapekis
Ypsilanti, MI
former owner - 78 Kingsley
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