Insurance Renewal again

[Mark S]

Greeting everyone. I hope you all are safe and well in this crazy scary time we find ourselves in.

Seems like just last week I renewed my Seneca's insurance but they tell me it's been a year already. Now before you all tell me how high my premium is, keep in mind south Florida is one of the highest areas for insurance. And yes, I know I should move but I lost that vote again this year, 49% for moving-51% against. I come sooo close each year.

My Progressive policy is $1,559 for the year with $100-300 liability and $50,000 property damage. I have $1,000 deductible which is diminished to $750 for accident free and I have total loss replacement value.

My question is what limits do you all have? I am wondering if I should up my limits to 250-500-100. Its not much more but I hate giving insurance companies money I don't have do. I think I know the answer but please share your thoughts.

And this is especially aggravating now since I cant even use the RV now

Thanks and please everyone, stay well.

[RogerR]

My thinking is that if you are sued as part of an accident consider if you could afford $200,000. I went for 250-500 as I want the lawyers for the insurance company to fight for me as hard as they can and not settle and leave me bankrupt.


I can afford a higher deductible so went with 1,000 and got a big reduction that more than paid for the other end.

[Oma/opa]

I agree with Rogers logic. I also carry 250/500 liability but I also have a $1,000,000 liability rider which is also relative cheap insurance. But, you must have the 250/500 liability to qualify for the rider. I carry the same coverage for all of my vehicles.

[Crossingover]

We just started a new annual policy with Good Sam's National General (first time for us) and was pleased with the savings over our previous Safeco policy. We're based in Florida too and the policy covers the Seneca and three cars. I also like the provision to pause the policy when the unit is parked (which has been a lot this year). 250/500/100 w/$500 deductibles on the cars ($2500 on the RV and $127K ACV replacement) for $2524. We declined uninsured motorists and have the minimum PIP.

[Mark S]

Thanks for the advice. Today I switched from Progressive to Good Sam National General. I did get the 250/500/100. The premium is about $50 cheaper for the year and by putting the insurance in “storage” mode I will save $60 per month. That should be a couple hundred a year savings.
Total premium with 250/500/100, no uninsured motorists, $1,000 deductible comp and collision with ACV replacement is $1,550.

[CAG]

Originally Posted by Mark S

Thanks for the advice. Today I switched from Progressive to Good Sam National General. I did get the 250/500/100. The premium is about $50 cheaper for the year and by putting the insurance in “storage” mode I will save $60 per month. That should be a couple hundred a year savings.
Total premium with 250/500/100, no uninsured motorists, $1,000 deductible comp and collision with ACV replacement is $1,550.

Interestingly I am going to switch to Progressive. Their quote is $200 lower than National General. I have two other vehicles and when I put them in to the loop, it pays to stick with Farmers for the 14 Lexus and 19 Jeep Wrangler but Progressive beat National General. Progressive tells me they will "storage" also.

[Mark S]

Interesting indeed. If Progessive told me they would “storage” I would have stayed with them. They told me they wouldn’t.

[CAG]

Originally Posted by Mark S

Interesting indeed. If Progessive told me they would “storage” I would have stayed with them. They told me they wouldn’t.

We will see because I plan to ask again before I switch but they did say that a call to customer service would remove liability and you can later add it back. Even at that National General premiums jumped $700 when I went to the new RV. Too much and no real explanation why.

[Mark S]

Originally Posted by CAG

We will see because I plan to ask again before I switch but they did say that a call to customer service would remove liability and you can later add it back. Even at that National General premiums jumped $700 when I went to the new RV. Too much and no real explanation why.

There seems to be no rhyme or reason with insurance. South Florida is one of the highest areas for insurance, both auto and home owner. I have found you need to shop every couple of years as the companies jockey for who has best (least worst) price.

[curver900]

Originally Posted by Crossingover

We just started a new annual policy with Good Sam's National General (first time for us) and was pleased with the savings over our previous Safeco policy. We're based in Florida too and the policy covers the Seneca and three cars. I also like the provision to pause the policy when the unit is parked (which has been a lot this year). 250/500/100 w/$500 deductibles on the cars ($2500 on the RV and $127K ACV replacement) for $2524. We declined uninsured motorists and have the minimum PIP.

I hope you don't get in an accident with someone who has no insurance..and lots of people drive without it... the cost for it is super cheap... if you get rear ended and they total your vehicle you are on the hook...

[Mark S]

Originally Posted by curver900

I hope you don't get in an accident with someone who has no insurance..and lots of people drive without it... the cost for it is super cheap... if you get rear ended and they total your vehicle you are on the hook...

In 2008 I was t-boned on my motorcycle by a woman who ran a red light. I had uninsured motorist insurance. I was in the hospital for a couple of weeks and out of work and depleted all my accrued sick time at work.

When the settlement from her insurance and my uninsured/underinsured came in, I maxed out the coverage which covered my medical expenses, lost wages and sick time. Not five days later I received a certified letter from my health insurance company demanding they be repaid for their expenses from the settlement. I was able to negotiate with them where I was able to keep my lost time and wages.

What I learned for me. Uninsured motorist insurance covers lost wages and medical expenses. It does not cover your property damage, collision insurance does.

Since I have medical insurance and I am retired with no wages, I see no benefit to uninsured motorist insurance. Everyone’s situation is different and you need to make the best decision for you.

And here in south Florida, uninsured motorist insurance is the most expensive part of our coverage.

[Johnynorthland]

We now have an umbrella policy that covers beyond our policies for all our vehicles, homes etc.. it’s worth it to us. We lost a newly purchased home, (that we never moved in to), to a fire caused by a contractor Carelessly staining floors And running open flame heaters!. YOU CAN NEVER HAVE ENOUGH INSURANCE! Pay a little more now or a heck of a lot later! We learned our lesson!

[JudyB]

When I shopped around to assure full replacement cost, there is a hidden statement that the cost is determined by the estimated value at time of insurance purchase, unless you bought new and are with your original insurance. So when I got quotes from Progressive, Geico, Farmers, etc, they were not replacement costs new, but rather now 3 years later, so I stuck with the higher premium from National General to assure that replacement cost was per my purchase price.

[Dancingqueen]

My rv friend puts his rig’s insurance “in storage” for 6 months, until he’s reafy to use it again. Saves a ton of money��!

[SalzerJ]

Look into an "umbrella" or excess libility policy. They demand a larger underlying limit but offer coverage into the millions. Good luck.

[Crossingover]

Originally Posted by Mark S

Since I have medical insurance and I am retired with no wages, I see no benefit to uninsured motorist insurance.

And here in south Florida, uninsured motorist insurance is the most expensive part of our coverage.

EXACTLY on both counts.

[JimD]

What happens if you have your unit "in storage" with the insurance suspended and your rig gets broken into or catches fire?

[Crossingover]

Only the liability portion of the policy is suspended. All other coverages remain in force. They do request that the suspense period be at least 30 days per occurrence.

[RAurand]

Originally Posted by JimD

What happens if you have your unit "in storage" with the insurance suspended and your rig gets broken into or catches fire?

With Good Sam, The insurance is not suspended in storage. The Storage Option allows you to suspend the collision and liability coverages you don’t need during the months your RV is not on the road. This can reduce your premium by an average of 53% when you’re not using your RV. Comprehensive coverage remains in effect to protect you from hazards like theft, fires, and storms.