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10-05-2006, 03:45 PM
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#1
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Montana Fan
Join Date: Sep 2006
Location: Bradenton
Posts: 200
M.O.C. #6228
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RV Insurance
I currently have USAA on my Mountaineer, but if totalled they only offer book value. Good Sam VIP offers full replacement for first 5 years and reimbursement of purchase price in years 6-20. Do you have suggestions or advice on good insurance companies with replacement coverage?
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10-05-2006, 06:32 PM
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#2
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Montana Fan
Join Date: Apr 2005
Location: Spokane Vallley
Posts: 268
M.O.C. #3532
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We do full time RV and we have National Interstate Insurance Through AON and it is homeowners insurance for us. Not sure what your situation is but it is a good value for the buck...here is the website.. http://www.aonrecreation.com/
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10-06-2006, 02:23 PM
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#3
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Montana Master
Join Date: May 2006
Location:
Posts: 1,700
M.O.C. #5751
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I have USAA, too. GS VIP offers the replacement value, but at about 3 1/2 times the price of USAA's rate....I got a quote yesterday. Like all ins, you have to figure if you'll need that extra coverage to warrant the extra premiums.
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10-06-2006, 03:51 PM
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#4
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Montana Master
Join Date: Sep 2004
Location: Leona
Posts: 6,382
M.O.C. #2059
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I am about as tight-fisted as they come. I hate paying excessive premiums. But I hate inadequate coverage more. I have sold causalty insurance. If USAA doesn't have a replacement value rider, I would look elsewhere. Claims adjusters will rate the current value of your used rig much, much lower than you will believe. USAA is a fine company and also very profitable for it's investors. The reason is that they underwrite to minimize their risk to a greater degree than some other good companies.
Premiums can be reduced by taking higher deductibles and having your insurance coverage be more of a catastrophy package. Personally, I can manage a $500 or $1000 loss much better than 1/3 to 1/2 the total replacement value of my rig. Ok, well, that's my thoughts on this subject.
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10-07-2006, 12:57 AM
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#5
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Established Member
Join Date: Aug 2006
Location: Wellington
Posts: 15
M.O.C. #6147
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USAA HAS NO INVESTORS!
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10-07-2006, 02:02 AM
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#6
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Montana Fan
Join Date: Oct 2003
Location: Salt springs
Posts: 300
M.O.C. #592
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Check out Farm and City. they are a Progressive agent and offer full replacement, full timer etc. The number is 800-331-1520. Ask for the RV dept.
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10-07-2006, 04:28 AM
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#7
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Montana Master
Join Date: Sep 2004
Location: Leona
Posts: 6,382
M.O.C. #2059
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It is a correct statement to say that USAA is not a publicly owned entity, i.e., no stock holders. They are a very profitable company and that money goes into someones pockets. Therefore there are those who have a vested interst in their underwriting protocols.
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10-07-2006, 08:30 AM
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#8
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Montana Fan
Join Date: Sep 2006
Location: Bradenton
Posts: 200
M.O.C. #6228
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THanks for the advice. I ended up calling Gilbert RV insurance and got full replacement coverage for first 5 years then purchase price coverage past year 6 for $418 per year. That's $782 less than USAA with the coverage I was looking for.
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10-07-2006, 01:37 PM
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#9
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Montana Master
Join Date: May 2006
Location:
Posts: 1,700
M.O.C. #5751
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The confusion with USAA and the investment issue is that they are in the banking business as well as the mutual fund/IRA business.
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10-08-2006, 01:32 AM
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#10
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Established Member
Join Date: Aug 2006
Location: Wellington
Posts: 15
M.O.C. #6147
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USAA is a mutual company , surplus earnings are distributed annualy to all policy holders based on your annual premiums and the earnings include all earnings from whatever source. A USAA member since 1948.
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10-08-2006, 02:47 AM
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#11
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Montana Master
Join Date: Aug 2004
Location: Cedar Rapids
Posts: 4,876
M.O.C. #1944
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I tried to join USAA but was denied the privilege because I've been retired from the military too long. That puzzles me. I thought they would accept all active duty AND retired military.
Orv
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10-29-2006, 09:55 AM
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#12
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Montana Master
Join Date: Sep 2006
Location: anywhere
Posts: 912
M.O.C. #6260
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I am also a USAA Member (37 years in fact). My recent claim for damage to my RV was covered and then some. No problems at all. For our new Montana we also checked Good Sam VIP and it would cost me over $800/yr increase in premium and really didn't offer as good a coverage as USAA with the sole exception of the replacement cost. I have found, however, that USAA is quit liberal in their allowance for value. Had them quote the value of the 3400RL I have on order and the stated "used" price is 9K more than I'm paying for the rig.
Based on that, and other inquiries with other insurance brands I stuck with what has been good to me, USAA.
Oh, on GSVIP check out the personal property coverage, it's $3,000. USAA is replacement cost and limited to max policy value.
JimF
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