Community Forums

fayjim2 · 03-05-2013, 08:27 AM

Hello Jim Senn here. I Usually only look at Workhorse Chassis Forum. I have had GMAC since 2004. I bought it for the sole purpose of there ad in magazines back then, It said Full replacement for model years 1-4 and 5-16 Purchase order price. The second portion is what I liked because I new I would have this thing forever. I,m concerned about how they honor the second part 5-16. I pay lots of money for the insurance, and when I orininally applied i was asked what I paid and a policy was written. I tell you when you read those paragraphs in the policy my stomach grinds. Well I,m done complaing but if there is a Insuance GURU on this forum please reply Thank You

sc3283 · 03-05-2013, 09:30 AM

I have progressive and it went up $80 this past year to $518 per yr..I just got done (10 mins ago)getting a quote from GMAC which was $904...so no thanks gmac!

sc3283 · 03-05-2013, 09:37 AM

I just went to Good Sam for a quote and they are GMAC

Medico · 03-05-2013, 11:23 AM

GMAC is my lowest quote by far, both pleasure and when we go FT.

JohnBoyToo · 03-05-2013, 12:21 PM

good sam/gmac was the lowest for me too (on day one quote)....

but on day two when I called back it went up $100 before they would write the policy !

but they were still cheaper.... fast forward a year and they went up another $150... but waited so late to tell me that I couldn't shop around in time... so I paid it and set a reminder in my calendar to shop for next year

bait and switch taste bad to me

UFO Pilot · 03-05-2013, 11:32 PM

To answer? your original question, I was told if I suffer a total loss they would write me a check for the original invoice amount. When I check my policy that is the number that it says I am covered for.

reubenray · 03-06-2013, 04:49 AM

I have GMAC for my fiver and it is only $218 a year. So I got a quote for the motorhome I am looking to get. It was $1,688 a year for a Tiffin Allegro 36LA.

Is this high or low?

Medico · 03-06-2013, 04:54 AM

My quote for recreational use was $1387. If I add a newer toad and FT, jumps to about $1800. This is comparable to my present homeowners and 2 vehicle insurance.

My MH wholesale value is $265K

Gary RVRoamer · 03-06-2013, 08:34 AM

Read the fine print in your GMAC policy about how and when they pay "replacement cost". However, the usual terms for replacement value coverage on a 5+ year old rig is that the insurer pays up to the original purchase price when and if you actually buy the replacement rig. Prior to that, you receive only ACV (Actual Cash Value) amount, and if there is a loan the lien holder gets paid off first and you get only what is left (if anything). If you never buy a replacement, you don't get a dime extra above ACV. If the replacement cost is less than the original purchase price, you get only the extra amount above ACV needed to cover the replacement purchase. In other words, you don't just get a check for the entire amount you originally paid. This can leave you holding the bag if you have a loan that exceeds ACV.

If you can't comprehend all the legalese in the policy, ask your agent these three questions about a total loss situation:
1. How much do I get if I do not replace the RV?
2. How much do I get if I replace it with another rig of lesser value?
3. How much do I get if I replace it with another rig that costs more than the original?

sc3283 · 03-06-2013, 09:22 AM

Nationwide is now on my side...cheaper than Progressive
I carry high deductables, I'm not 1 to use insurance though...I have made 1 claim in 37 yrs of driving..and that was due to SEVERE hail. I don't use an insurance company for trivial crap unlike some who make claims often.

fayjim2 · 03-07-2013, 08:59 AM

Wow Well I must say I,m still confused. First off the premium is something but the real area of concern is after the loss should it occur. I purposely left this portion of my problem out. I bought the RV in Fairbanks Ak. in 2004 new. I paid 107,694 $ approx. 25 % over lower 48 prices which is nornal for ak. So when they start looking at the policy and then my purchase order what would I get paid keeping in mind when you apply part of the questioning was price. So keep the info to me flowing I really enjoy reading this over the policy. Thanks Jim

sc3283 · 03-07-2013, 09:20 AM

Jim, give them a call and ask....they'd know better than anyone.

UFO Pilot · 03-07-2013, 10:32 AM

GMAC never asked me what I paid that asked the factory invoice price. My policy is written for that amount. I asked them (they may have lied to me) about total loss coverage. I was told they would replace my RV in the first 5 years and then pay the invoice price after that. They never said a word about having to purchase another RV. AAA told me they would insure (and charge) for the invoice price but would only pay the actual value for a total loss.

Roam America · 03-07-2013, 10:38 AM

I am switching my truck from GEICO to Nationwide today. I have 2 more years on my GMAC (which was American Modern Home until last year) with the Original Purchase Price coverage. After that I will probably look into Nationwide to see how they cover fulltime usage. until then, I am stuck with GMAC.