Insurance: Is paying for a full year up front standard?

[Burner]

Just got my renewal notice from my insurance company and the only payment option I have is for a full year. Monthly payments are not an option.

1. Is this pretty standard or unique to Progressive?
2. Does $3100 for a full year on a class-A toy hauler that is worth about $90k sound about right?

[lwmcguire]

I am sure you will get plenty of replies. Farm Bureau is what I have and on multiple types of property including the motor home. They used to have monthly or semi annual but I have noticed now they prefer annual and no discount. In the past you got a discount for annual payments.

Your rate is much higher that what I pay but not for the same type equipment so really can't compare that. It seems that many companies are increasing rates due to all the losses in the past few years.

[les.warden]

Sounds high. We have a 2017 Tiffin Phaeton 40QBH and just switched to Progressive last October. $1600/yr. BUT, I’ve had to switch every year for lower prices. I totally expect it to rise $700-$1000/yr next October.

[lwmcguire]

I might add that Progressive and Geico are the two highest premium companies I have ever checked when comparing rates versus coverage. Shop around and make sure they are giving you a good deal.

[dlduck]

Rates all depend on where you live and are registered, as well as the value of your unit based on size and cost, not to mention whether you are full time or not. I just got my renewal notice in Florida with Progressive and a $58 dollar annual increase. I thought this was very reasonable and will gladly pay the increase and run without a whimper!! Especially since Florida has some of the highest RV insurance rates in the country.

[BirchyBoy]

That’s a lot of premium. My progressive rate is based on Georgia with a value of about $95k. I am a 47 yo male, clean record and pay $1,400 per year. My rate went down slightly at my 12 month renewal.

[TRebel]

Don't know about progressive (personally, I would never use them), but most companies offer different payment options. You will need to call progressive and inquire.

And, your price sounds very high. I am at around $800 per year for $180k current value 2014 class A.
As already stated, rates vary from state to state, driving record, driver age (yes, some companies charge more as you get older 70+), and coverages.
I suggest high liability limits (half million or higher) and high deductibles ($1000 or higher).

[rrtribble]

I'm with National General through Good Sam and its time to renew. My 6 month rate just increase $483.00 which is over a 50% increase. I'm checking. An old insurance salesman told me a couple of years ago that we should get new quotes because companies normally give great rates for the first 12 to 18 months then start increasing them.
I have 2 cars, DP and S&B in a bundle which used to result in a 20% discount but I'm finding not such good deals so far as cost might be lower but coverage is less too.
Waiting on FMCA now but will be calling Farm Bureau tomorrow and a couple of others fellow members provided. I'm not looking for a cheap policy, I was a good policy at a fair price.

[Mr_D]

I have The Hartford through AARP on both vehicles and the house, not full time. $300,000/100,000 limits and MH value at about $300,000. Cost is less than $3,000 yr here in WA. They give me a monthly or yearly full pay option. I pay yearly.

[Tha_Rooster]

Originally Posted by Burner

Just got my renewal notice from my insurance company and the only payment option I have is for a full year. Monthly payments are not an option.



1. Is this pretty standard or unique to Progressive?

2. Does $3100 for a full year on a class-A toy hauler that is worth about $90k sound about right?

I have progressive and auto withdraw payments.

I say something bad wrong $3100 for a $90 k rig.

[marjoa]

Originally Posted by Burner

Just got my renewal notice from my insurance company and the only payment option I have is for a full year. Monthly payments are not an option.

1. Is this pretty standard or unique to Progressive?
2. Does $3100 for a full year on a class-A toy hauler that is worth about $90k sound about right?

Sounds very high to me. Is this for just the TH or TH and the tow truck? There are a lot of factors that goes into a Insurance premium other than value. And of course whether you're FTing or not makes a big difference too.

Also...
I highly recommend whether anyone that has a trailer and a truck, or a MH and a toad, both vehicles be insured by the same underwriter with the same policy. Otherwise you're just flirting with major headaches galore if something bad happens.

In any case, I do not and never will do auto withdraw payments or accept their offer of 5% discount candy for auto withdraw. Not me. Nope. Once they link to your bank acc't or c/c good luck getting that unlinked for any reason. And, if you link your auto pays to a c/c and then your c/c gets hacked, the c/c company will have to close that acc't, issue you a new c/c and that will even further complicate your life.

I'm a firm believer of the KISS Principle.

[TTD]

It's very state dependent.

I have Progressive in Massachusetts and just renewed... had both options for payments. Unfortunately, Mass is horrible for insurance so I pay even more than you. (albeit on a $180k rig)

And what's worse... I could not even find another company to quote me, so it's like a monopoly!

[ray999]

I have Progressive through Usaa in Mass with 2002 Monaco for $1500 yr.

[Crasher]

$3100 seems very high. I have Allied and with 500,000 liability, uninsured and underinsured, $1000 deductible, ($0 ded on glass) collision at actual plus 10% ($270,000) for $1600/year.