agreed value insurance

[pwf16129]

searched the site some didn't find an answer, thought about trading my older class c in for a newer class b, run the numbers and for next few years my old girl will be my best bet. she is in good shape and i have a few items to update and some regular maintenance which is no problem.
what concerns me is my insurance company only values it at $1000 and i have $6000 in it and can not replace it for less then $6000 what I'm wondering is which insurance company is more RV savvy .
all i want to do is set it up so i can have enough to start over if it should get totaled i only have liability insurance on it now due to their low evaluation on its worth
it is a 1985 Midas 26 ft,new engine,new trans all new tires we updated the interior and really like it.
starting next year we will be making a couple of trips a year to Maine from Arkansas and the rv is our preferred method of travel .
as always the best and sanest advice comes from this group thanks in advance

[WeatherTodd]

you should be able to claim a "stated" value on the policy. Originally my agent put the MSRP as the value of my coach... and the premium was $5500/yr. Once I figured out what he did... I got it changed and it was $5k less/ yr.

[ahicks]

Sounds to me like it's time to go shopping for another policy. I personally prefer the agreed on value plan, but if that's not available, at minimum I would like to see the term "like kind and quality" used in the case of a loss. That term is subject to all kinds of interpretation, but at least you have a leg to stand on in the case of a loss?

[whem2fish]

i have aggred value with progressive they said i need to get it appraised but i had just bought this showed them the bill of sale all went well we paid way too much but it was super clean im happy

[wildtoad]

From Progressive who I have coverage with...
Agreed Value

Agreed Value protects your investment in your RV without considering depreciation for total losses. The total loss payout is the agreed value as shown on the Declarations page.

Proof of value is required for this option. For RVs purchased less than two years ago, the purchase documents are proof of value. For RVs purchased more than two years ago, an appraisal serves as proof of value.

[MattC]

As the member of a group of coaches that are all 35~40 yo, this has come up a lot.
There are several types of RV insurance:
Replacement Value - You get the amount for lowest cost of something they find that is similar to cover a total.
Stated Value - The carrier has picked out a value for your coach and that is what you will get if it is a total loss.
Agreed Value - Both you and the carrier have agreed what the coach is worth and that is what you will get if it is lost.

Usually, an agreed value policy requires an independent appraisal. This can be difficult, but it can usually be done. It should be an appraisal of your exact coach and what it would cost to have it re-created by a concern that does that sort of thing.

When I looked last, Progressive was no longer writing new Agreed Value policies. They were continuing some that already existed, but they also cancelled some.

The only two I know of are Allied (part of Nationwide) and the Miller insurance group (and only two ladies there know how to make it work).

If you have an antique or classic coach, it is definitely worth looking into.

Matt









\I have been told that Progressive

[whem2fish]

Good update I guess it's been 5 plus years

[Mekanic]

Originally Posted by wildtoad

From Progressive who I have coverage with...
Agreed Value

Agreed Value protects your investment in your RV without considering depreciation for total losses. The total loss payout is the agreed value as shown on the Declarations page.

Proof of value is required for this option. For RVs purchased less than two years ago, the purchase documents are proof of value. For RVs purchased more than two years ago, an appraisal serves as proof of value.

Are you saying you agreed value coveragethough progressive??
I was told they do not off it.

I got a quote from
GRUNDY INSURANCE
400 Horsham Rd.
P.O. Box 1957
Horsham, PA 19044
1-866-338-4006

They are a mainly a classic car insurance company.

[whem2fish]

As I read above they quit I got mine 5 years ago