Full Replacement Insurance Coverage

Opinions.  Is full replacement worth it on a 2017?  I have this with my current carrier, however just just checked with my auto carrier (GEICO) and the annual premium would be half of what I now pay.  Just wondering.

Thanks,  Mike

It never seems worth it when you’re paying your premiums but it’s always worth it when you have a claim.

Sadly the most coverage I could get on the 2004 2350 we bought last year only values our PC at $12k.  If it ever gets totalled, I'll be on the hook as well as our PC.

Geico wasn't an option I could even look at since I am FT but my 2 cents - make sure what total replacement means to the company.  I had one insurance company I had to keep pushing to get a clear answer.  I think I know why they didn't want to be clear - their idea of replacement was that THEY would be the ones that decided what counted as an equivalent replacement - a new unit on a lot of their choosing - and that would be my replacement.  Not a requirement that it even have all the same options etc.  Obviously didn't go with that one - paid more more for a company that would really let me replace with the Phoenix and the same model etc.  Luckily I haven't needed it.

Just finalized my insurance yesterday with State Farm.  When they finally came up with a value they somehow determined msrp @ $114k, and based my premium on that even though it’s a 2013 by the vin.  Obviously they will not give me that for a total loss.  As we argued, they came up with “well it will be depreciated “ but they still gouged me based not on what I paid.  Slightly over $1200 per year.

Hi Terry,

I'm with State Farm as well.  When I set up my insurance on my 2019 2552 early this year I was a little surprised to see that they had Phoenix Cruiser in their system (the 2552 came right up on their computer when they typed it in).  They had my full $134K purchase price from my documents, but I got a little better rate--just about $1K/year ($85/month).  Of course premiums can vary based on a lot of things--I've got pretty much everything on the same policy and a good claims record which keeps my premiums (relatively) low.  Anyway, I was fairly satisfied with the result--couldn't match it through Geico or a couple other places I checked.

Mike

We have our PC lumped with our cars through Hartford, one policy, all vehicles.  Hartford does a nice job in that they know we can't drive more than two vehicles at any given time, and they also understand that our PC is a "seasonal use" vehicle, and my sports cars that come and go all the time are treated like our PC.

With full coverage (whatever that is defined as) we pay a fraction of those numbers, but after reading through this thread, I wonder what value Hartford declares our 2007 PC to be.

We have our cars and our house with State Farm. We have the RV with nationwide. The nationwide policy has an agreed to replacement amount and the premiums were less with nationwide.