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Old 06-29-2015, 01:38 PM   #1
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Insurance decision

We are in the process of selecting insurance for a 2014 Tiffin 33AA and can't decide if it is worth the extra cost for full replacement cost vs. what would be the depreciated value. AARP is $738.00 (1 year), with diminishing deductible but not full replacement cost and Good Sam's is $1717,06 with diminishing deductible and full replacement cost. We are not sure if there are many times when total loss is the case and are leaning to a non full replacement policy. We understand it comes down to a personal choice but would appreciate any input especially if based on experience with some sort of a loss.
RJ and Evelyn

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Old 06-29-2015, 01:47 PM   #2
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So you're talking about a 100%+ increase in premiums to get what is most likely a slight % of additional coverage.

Checked progressive? You can set agreed value.

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Old 06-29-2015, 06:46 PM   #3
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I just went with Progressive for agreed upon value & saved $1100.00 from the full replacement we had before. Not to mention the rate increase every year.
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Old 06-30-2015, 10:14 AM   #4
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I may not be up to date on this, but to the best of my knowledge neither AARP nor Good Sam underwrite insurance. They act as brokers and referral agencies, and in my view just muddy the waters.

I suggest you deal directly with reputable independent firms that have insured RVs for years. National Interstate is one such firm. We have been quite pleased with them from the start.

Fulltiming since '12
2002 DSDP 40, FL, Cat 3126
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Old 06-30-2015, 01:21 PM   #5
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Generally happy with Progressive, though my premium this year, due August 1, went up 9.5% which I think is a lot for a one year increase. I do have a full replacement cost rider with mine which was based on NADA trade-in value and not what I paid, which was 20K less.
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Old 06-30-2015, 01:34 PM   #6
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That depends on if you
a)Need to pay off a loan for an amount higher than the depreciated value in a catastrophic event
b)want to be able to go out and replace the MH with the same quality in a catastrophic event.

Personally, for an additional 81.58/mo , I'd take the replacement value just for piece of mind, at least until I felt the replacement value of my RV wasn't worth it.
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Old 06-30-2015, 04:51 PM   #7
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AARP is writen by The Hartford and last I knew GS was Natiuonal General.

But the key thing here is that full replacement value shouldn't cost $1000/year more. Get some additional quotes for other insurers. I know that National Interstate writes full replacement and diminishing deductable policies and I'll bet its less than GS. Try Allied too (a division of Nationwide that does RVs). If you join the FMCA, you get a discount with Allied (using FMCA's referral broker).

Or call an RV specialist agency such as Miller RV Insurance and let them find you a deal on the coverages you want.
Gary Brinck
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Old 06-30-2015, 06:46 PM   #8
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By all means get some more quotes. Find a broker than can write for National Interstate and see what they come up with The total loss additional premium is only $130/yr for my coach
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Old 07-06-2015, 02:54 PM   #9
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Just an FYI update. Spent much time checking out various companies and got a wide range of quotes from 2200.00 to 700.00 per year. Overall we think the best if AARP/Hartford for 861.00 per year. High limits and full replacement with new coach until 2017.

Thanks for all the help,
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Old 07-06-2015, 03:46 PM   #10
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Like you said, it's a personal choice.

Yes, 'totaled' is a small percentage of the claims processed each year so it will never be an issue for the vast majority of us. For that small percentage, however, it can be a major problem/pain.

Should the worst happen without full replacement coverage you will be paid, at least theoretically, the market value of the coach at the time of the accident. You should then, again theoretically, be able to use that settlement to buy another coach of the same make, model and year as what you had. With full replacement cost, at least within 5 years of having taken delivery of it, you will get a settlement that reflects the cost of buying a brand new coach, same make and model. If I, for example, were to loose our coach to a fire I'd be given the money to go out and buy a 2016 replacement, even though ours is a 2011. After 5 years you'll typically be paid 100% of what you paid for yours new even though the actual value at that time will likely be considerably lower. In either scenario you will not have to be arguing that your coach was worth more than they are offering because of...???

Yup, small percentage, but only you can decide what you're most comfortable with. If the extra $1000 per year is a significant hardship I'd not hesitate to go with a standard policy. If money's no object, hey it might be worth eliminating any hassle at what undoubtedly would be a traumatic time regardless. Most of us are somewhere in between.

Decisions, decisions...

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