novi2some wrote:
I am looking into replacing my 2010 Bounder with a 2014 Tiffin Phaeton. My current insurance is with AAA. My agent told me AAA will not insure the Phaeton because of its value. In 2014, the Phaeton sold for $230,000 with a MSRP of $320,000. The agent said he would have to go with Progressive with a premium of $3170/yr. My Bounder, I am paying around $1000/yr. I can't believe the premium goes up three times when the value only goes up twice. Can anyone suggest an insurance company for diesel motor homes.
That's ridiculous. Get out there and get some quotes from the majors, including Gieco, State Farm and Allstate.
Some go by MSRP, so reject. Some go by book value and others will ask you what you paid for it. I usually try skirting around a lot of this, as well and from what I've been able to determine, they will have to pay up, in case of a total loss, no matter what they insured it for, so go for the least amount (full coverage) that you can get by with.
Besides, with the way these rigs depreciate, it'll be worth much less, next year anyway. Now, how many companies do you know that keep lowering your rate each year, because of it being worth less?
It's a game, you know and one must continually shop around for the best deal, which are only given to new customers and certainly not the long term faithful, who always end up paying more.
