Cruisers Forum

Main Forum => General Discussion => Topic started by: sailors35 on April 11, 2018, 11:36:58 am

Title: Insurance
Post by: sailors35 on April 11, 2018, 11:36:58 am

Insurance is up for renewal. Would appreciate thoughts/experience on whether to carry "full replacement value" or "actual cash value".  Checking with various companies there is a significant premium difference. Have checked the archives, but insurance seems to be quite dynamic!  Thanks.

Title: Re: Insurance
Post by: Ron Dittmer on April 11, 2018, 02:05:40 pm

We use Hartford through AARP.  What I like about them is they know our PC is a limited-use vehicle, therefore it's premium is priced accordingly.  It is also included in our auto policy, not having it's own policy like we had with Allstate.  I have another seasonal-use sports car as well.  So insuring 4 vehicles is not killing us.

Title: Re: Insurance
Post by: jatrax on April 11, 2018, 04:00:05 pm

Also use Hartford through AARP.

But the car is with State Farm.  I have been with State Farm forever so offered them the RV first but they were almost double what the Hartford quoted me.  So I offered the Hartford my 2 cars as well.  They were more than double State Farm on the cars.   (WH)

So State Farm has the cars, and the Hartford has the PC.

Title: Re: Insurance
Post by: CalCruiser on April 11, 2018, 04:09:09 pm

Good Sam is half  of what Allstate was charging.
In some states  you can  also de-activate the liability coverage part of the policy during extended storage to lower the cost .

Title: Re: Insurance
Post by: donc13 on April 11, 2018, 04:33:33 pm

Quote from: sailors35 on April 11, 2018, 11:36:58 am

Insurance is up for renewal. Would appreciate thoughts/experience on whether to carry "full replacement value" or "actual cash value".  Checking with various companies there is a significant premium difference. Have checked the archives, but insurance seems to be quite dynamic!  Thanks.

"Actual Cash Value" means the depreciated value.  So say you have a 10 year old RV and now "book value" of your vehicle is only $10,000 even though you paid $80,000 10 years ago.  So if the vehicle gets wrecked, the maximum you get from insurance company is $10,000 no matter if repairing it cost $12,000.

"Full Replacement Value" means insurance will fix it or replace it no matter what it costs (within your policy limits).

Of course full replacement costs more, you get more if needed.

I go for full replacement coverage.