Insurance Nightmares

[Rvlegaleagle]

"I carry almost full coverage (no PIP or un/under insured) "

That is NOT smart! Personal injury protection and under/uninsured is usually very cheap compared to the rest of the coverage. It is very important as well. In fact I would suggest upping the PIP coverage. In New York, the un/under insurance is usually limited by the amount of your liability coverage and is only available to use if the other vehicle's limits are less than yours, they pay out their full amount and your injuries are worth more than what the other vehicle paid out. Because of all the hoops, the coverage is generally much less expensive. FYI

[Jeff in Ok]

I use AAA. No issues and reasonable. But I do insure 3 other vehicles and my home with them.

[4x4van]

Something sure sounds amiss. I've had State Farm for nearly 40 years (since I turned 16 and started driving); currently 7 vehicles, 1 motorcycle, my RV, and my house, ALL full coverage). Your experience makes no sense to me; the premium for my recently purchased 2004 Itasca M30W (original selling price of $105,000) is only $600 per year, full coverage; 100K/300K, $500 deductibles, under/uninsured, towing, etc...everything. Not sure what the problem with your new RV is; perhaps a higher than average record of costs/claims for that model? How's your driving or claims record?

[CJ7365]

None of my business, and your free to spend your money as you see fit but to have Full coverage insurance for an RV that is 17 years old that you paid $10,000, in my opinion is a waste of money

[inlineskater]

I was a State Farm agent for 28 years. Things have changed a lot during that time. I retired a year and one half ago. What is going on with most companies now is a very complicated system of figuring rates. 1st they look at the RV you own, then the coverage you choose, then when it comes to looking at the individual they look at over a hundred different characteristics about you to figure the rate. So you really cannot compare with your friends and neighbors. There is an infinite number of price points now and no one will have the same price that you will even if they had the same motorhome. Where the RV is garaged or kept makes a big difference also. Fulltime or part time use, miles driven per year. How you pay your bills is a big thing now. The last 10 years I was an agent we could not figure a rate from a book anymore. It was too complicated, you had to use a computer.

The consumer has wanted customized underwriting and now they have it. Much of this was driven by government regulation and lawsuits. Insurance companies are trying to find the most accurate way to measure the risk. They do an incredible amount of research trying to find correlations between what you do and how it relates to risk.

I don't know if this helps you understand how they do things now. The answer you got about them now wanting anything to do with RV's is not true. We used to market to RV'ers because they were good business. I always loved to insure an RV, because it usually meant some cars, home, and other toys.

I still have State Farm and I like the company. They are not perfect for everyone, but they are entirely owned by the policyholder. They are not a stock company. Fat cat stockholders do not get the profits. Profits are used to pay claims.

[4x4van]

Originally Posted by CJ7365

None of my business, and your free to spend your money as you see fit but to have Full coverage insurance for an RV that is 17 years old that you paid $10,000, in my opinion is a waste of money

I have full coverage on all 8 of my vehicles, from a 1993 Honda Civic to my 08 Hummer to my 04 RV (only exception is my 1972 Yamaha AT2 125). Only my Hummer and RV require it due to financing, but the bulk cost of any policy is the liability (which is required); the comp/collision adds very little relative to the liability cost, so for the small amount extra on my older vehicles, it is worth it to me to at least get something back if my car is stolen or totaled, or damaged by one of the many many uninsured drivers on the road here in CA. In fact, it HAS paid off several times over the years for me. I have recieved more back than I have paid in the additional premiums more than once.

[Snaketiles]

Originally Posted by 4x4van

Something sure sounds amiss. I've had State Farm for nearly 40 years (since I turned 16 and started driving); currently 7 vehicles, 1 motorcycle, my RV, and my house, ALL full coverage). Your experience makes no sense to me; the premium for my recently purchased 2004 Itasca M30W (original selling price of $105,000) is only $600 per year, full coverage; 100K/300K, $500 deductibles, under/uninsured, towing, etc...everything. Not sure what the problem with your new RV is; perhaps a higher than average record of costs/claims for that model? How's your driving or claims record?

My driving record is perfect. I would lose my job is I had anything on my record.

[MisterT]

Originally Posted by inlineskater

I was a State Farm agent for 28 years. Things have changed a lot during that time. I retired a year and one half ago. What is going on with most companies now is a very complicated system of figuring rates. 1st they look at the RV you own, then the coverage you choose, then when it comes to looking at the individual they look at over a hundred different characteristics about you to figure the rate. So you really cannot compare with your friends and neighbors. There is an infinite number of price points now and no one will have the same price that you will even if they had the same motorhome. Where the RV is garaged or kept makes a big difference also. Fulltime or part time use, miles driven per year. How you pay your bills is a big thing now. The last 10 years I was an agent we could not figure a rate from a book anymore. It was too complicated, you had to use a computer.

The consumer has wanted customized underwriting and now they have it. Much of this was driven by government regulation and lawsuits. Insurance companies are trying to find the most accurate way to measure the risk. They do an incredible amount of research trying to find correlations between what you do and how it relates to risk.

I don't know if this helps you understand how they do things now. The answer you got about them now wanting anything to do with RV's is not true. We used to market to RV'ers because they were good business. I always loved to insure an RV, because it usually meant some cars, home, and other toys.

I still have State Farm and I like the company. They are not perfect for everyone, but they are entirely owned by the policyholder. They are not a stock company. Fat cat stockholders do not get the profits. Profits are used to pay claims.

as another Insurance Agent and independent Agency Owner, I couldn't agree more... you CAN NOT compare you and your situation with anyone else when it comes to premiums, or the company you choose. There are simply just too many variables to make a true apples-to-apples comparison with your neighbor. Even we agents have a hard time making comparisons for our customers because each company asks different questions, have different 'tiers' of premium ratings, offer different discounts and requirements, and have different coverages. No insurance company is the same as it's neighbor, either.

but, with competition comes opportunity - check with as many companies as you can for the best rate, if rate is your main concern. It's a lot of work, yes, but it's the only way...

[MisterT]

Originally Posted by Snaketiles

My driving record is perfect. I would lose my job is I had anything on my record.

where do you work that you would lose your job if you 'anything' on your record??

and

what is 'anything'?

[Mike and Cha]

Maybe it's where you live. I have had State Farm for over 45 years and have everything we own Insured through them, including two RV's. When we bought this MH brand new I shopped rates only because of what I read on this forum. State Farm not only gave me the best rate, but the best coverage for my money. We have had this policy for three years now and they haven't raised it at all. The only claims I have ever had are a stolen vehicle and a wood pallet fell off a truck and hit our car, which were back in the 90's. You said you had a claim about 9 years ago, depending on what that claim was it could be the reason. But many here will tell you not to use State Farm, but at least for us, living in California, and our clean driving records, nobody has come close to beating their rates and coverage.

[Snaketiles]

Originally Posted by CJ7365

None of my business, and your free to spend your money as you see fit but to have Full coverage insurance for an RV that is 17 years old that you paid $10,000, in my opinion is a waste of money

I have a small loan on my RV which will be paid off in about ten months. So I am required to carry full coverage. I chose the RV that I bought for several reasons.
Driveable toyhaulers are hard to come by in my area. I didn't wish to spend over $80,000 for a similar new model. The toy hauler fits my lifestyle, I'm an avid kayaker, mountain biker and own several motorcycles. I also vend at out of state expos. So the cargo space in a toyhauler is wonderful. I prefer not to pull a trailer anymore. I preferred to not purchase a bigger truck to pull a bigger trailer.
The RV I bought was very well taken care of. It has enough miles that it hasn't been sitting a lot. But it is not excessive mileage. It is very clean and the interior looks brand new. Mechanically it is in great shape also. I did my research for two years before I sold my previous RV and purchased my Fun Mover. I'm very happy with my RV.
I'm unhappy with insurance carrier and looking at other options.

[Mr_D]

Originally Posted by inlineskater

Profits are used to pay claims.

If money is used to pay claims then it's not a profit.

[Rvlegaleagle]

Exactly! And that my friends is, and has been since the advent of insurance, the name of the game

Remember, your in good hands until you make a claim Best advice "READ YOUR POLICY"

[JONWisconsin]

GEICO on all vehicles and FW. Pay $30/month for FW full coverage.