Forum Discussion
tahiti16
Nov 06, 2013Explorer
BobGed wrote:Nomadac wrote:
With our policy if you have no claims the deductible decreases 25% each year, after the 4th year your deductible is zero. After your first claim it goes back to 100% and starts over. Our current policy is with National Interstate.
What does the deductible show on your policy? Even though you don't have a deductible to pay, your rates are still based on the existing deductible. You might want to discuss substantial raising your deductible with your insurance company. I'm sure you'll find your rates will be lower, and you will still maintain your no deductible status. In the unfortunate event you should have an accident, you can then lower your deductible if necessary.
This is a good point about your deductible, sounds like my policy with Progressive, when I talked to them a couple years back they had told me as the deductible drops, from no claims, raise the deductible my premium is figured on. Right now we are set at $1000 but if I have a loss the real deductible is $0.00.
One other is remember while the real value for the coach is going down your insured value isn't changing, this also increases the chances, for the insurance company, that someone could decide the best way to get out from under a rig is have an accident with their 5 year old coach that is insured for purchase price still.
We may look at dropping the value at the next renewal as the annual cost is getting up there. If something happens to the coach I do want to get a fair amount but we are now getting to the point the insured value is not a fair expectation in case of a loss.
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