Any Recent HDT/5er Insurance Developments?
Can't find anyone offering Agreed Value |
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| 'Nuf Truck 18 March 2010 02:47 PM |
I received my American Modern renewal notification recently, and it included a 20% premium increase year-over-year (with no negative policy experience, such as claims, moving violations, etc.). Worse yet, they included a rider that eliminated my Agreed Value provisions. I called AON in Bellevue, who now has become Poliseek in California, and they confirmed AV would not be offered by American Modern on MDTs (their term for my Volvo).
They then quoted me for AV coverage from National Interstate and Progressive. NI came up "No AV" offered as well, but Progressive was a annual savings of $245/year better than American Modern, AND Agreed Value. So I told her to issue the policy. She called back a few hours later -- for whatever reason, their online quote template accepted the Agreed Value quote request, but said her supervisor had been informed by Progressive that AV is no longer available on MDTs. Poliseek has No Carrier offering Agreed Value. I took the Progressive for now. But I'm in search of a different carrier for my rig with AV. Does anyone offer it any more?? |
| Still Working 18 March 2010 04:22 PM |
RV America Insurance
Cal, you might talk with these folks. I have been with them for five years now and just renewed. My policy is with Progressive. |
| Hogrydr 18 March 2010 05:07 PM |
Cal I just renewed with Progressive and have agreed value also on my Toter and RV. No increase (Probably paid to much to begin with) Jim |
| 'Nuf Truck 18 March 2010 08:51 PM |
You both have Progressive with agreed value on the HDTs? Poliseek did offer me Progressive AV on my trailer, but said it's discontinued on HDTs. I'll call the link provided. Jim, who's your broker? Thanks, Cal |
| Jack Mayer 18 March 2010 09:38 PM |
Progressive will no longer insure with agreed value. At least that is what they told us. We just switched in the last week and we have Allied. They will do agreed value with an inspection. But not just setting a value. They will not do unlimited use for the truck. Almost, but not quite. You can not use the truck as an RV. Other than that, you can use it as you wish, for any purpose, bobtail or not. BUT you can only pull your RV no one else's.
GMAC will no longer insure our trucks for any reason except commercial. Progressive will not allow you to bobtail unless you are on a "camping trip". If you are a fulltimer you CAN NOT use it for ANYTHING but pulling your trailer. You can get fuel or maintenance. But not even a grocery store run. Most other major companies other than National Interstate do not want us at all. You can thank the people who are hauling horses for a living, and the race drivers (sorry Donnie). I can see a time in the future that you will not be able to insure them at all except commercial. Those who have policies now with some of these companies may get grandfathered as a "customer courtesy"....or they may get a non-renewal. No way to determine ahead of time. It is very discouraging. National Interstate is the best at the moment as far as I can tell. SO far, no restrictions. But not particularly cheap any more. |
| Hogrydr 19 March 2010 06:36 AM |
Jim Cal my agent is "INSURANCE SOLUTIONS" 601-693-2336 Pam. Mention me. To get the agreed on value insurance I did have to get a appraisal that included pictures and specs. That was two years ago and they have continued to insure with no other requirements |
| Hogrydr 19 March 2010 06:37 AM |
I did have some trouble when I first applied for insurance with Progressive. The contact for Progressive did not understand what a toter was and initially denied the application. The owner of the agency had to talk to someone he knew higher up in the company that knew what the truck was being used for. After that it has not been a problem. The toter and RV are insured with Gulf Progressive, a different arm of Progressive, but the premium is addressed to Progressive Jim A note for the Post below: Ron the policy states under comprehensive and collision, Agreed value (the value) 0 deductible and the Premium |
| SIBERNUT 19 March 2010 09:16 AM |
Be very careful about your policy. "Agreed Value" and "Stated Value" are used interchangeably by unknowledgeable people, and many brokers fall into that category. Look at the policy, it should say "in the event of a loss, we will pay $XXXX"
There should be no wording like "the lesser of ACV or the value $XXX" |
| 'Nuf Truck 19 March 2010 02:26 PM |
Jack Mayer, on Mar 19 2010, 02:38 AM, said: Discouraging, to say the least! I wonder if it's the pendulum phenomenon, a problem of communication / education about what we do with these trucks? I mean, at the end of the day, I think the stats will prove out that those of us pulling large RVs with HDTs are a lower risk than those pulling with LDTs, whether part-time vacationers or full-timers. We should be sought out by insurers, in some ways! Jack, if by race drivers you mean folks that are entering events for prize money, and horse haulers for a living -- aren't both of these commercial applications? I see those classes of drivers/HDTs as quite different from the RV crowd. Maybe the insurers don't, though, (yet). |
| SIBERNUT 19 March 2010 06:58 PM |
Jack means the commercial horse & race car people are doing a "stealth approach" as RVers, & the Ins Companies know it. |
| 'Nuf Truck 19 March 2010 08:53 PM |
But RVers are not, we're straight-up. I think they'll figure it out and differentiate eventually (hope so) |
| DonF 20 March 2010 01:28 AM |
I am still getting quotes. Explorer uses Nat'l Interstate, they got me a good FT quote; will report back when we've got more to share... Don |
| 'Nuf Truck 06 June 2011 10:52 AM |
I finally ended up going with Progressive, and have had my first claim (see separate thread, steer tire blow-out). The tire did some minor damage to the fiberglass fender, which I had patched and repainted by Wescraft in Fife. Progressive gave approval for the repair the same afternoon that I got the estimate ($1600), and four days later I had the truck back. Good service. Cal |