Insurance Rate - Not Bad

[truk4u]

Just wanted to share my insurance cost in case anyone is shopping. I went through Explorer RV Insurance Agency for my 97 Marathon.

300,000 Vehicle rating base
100/300/50 Limits
1000 Deduct (diminishing)

Lots of other stuff included, with an annual premium is 1570.00...

[Just Plain Jeff]

Of course insurance rates are set by the states, so there is variance there as well as by carrier. Perhaps the best way to insure a coach is by value, so what you need to do is figure out what you can live with and have some type of documentation to back it up and you're all set. In Florida, a $250K coach with GMAC will cost you about $1050 a year.

[ken&ellen]

My wife, Ellen, did extensive research on insurance...replacement cost, collision, liability, and of course deductables. Our rate mirrors what Jeff had stated for the annual amount. We selected a company, Twin Peaks, that was not tied to a particular state. Our former carrier, State Farm, required the vehicle to be in the state of the local office. Each time we move with Ellen's job we had been subjected to new rates, fees, and re-applying based on locale....major PITA. Ken

[Denny]

When I bought my bus last summer my insurance for the year was $2,297 for million dollar coverage from Explorer RV Insurance. This year my renewal went to $3,050 for same coverage with no claims, accidents, tickets, etc. The letter included with the renewal notice said the increase was based on a credit report; not the credit score but an insurance evaluation from the credit reporting agencies.

Called Explorer and the explanation I received was based on a few factors affecting my credit report. First of all, my credit score is over 820 so they know I am not a dead beat. It is based on the fact that I recently applied for a Gander Mountain Credit Card. I made a $1800 purchase and if I opened a Gander Mt. credit card I would save 10% plus receive a $50 coupon for future purchases. Lets see, save $230 on this purchase not a bad deal. It turns out the credit agency held this against me for insurance purposes because I opened a new charge. The bill was paid when I received the cc statement but that does not matter.

Also, they said my debt ratio was very low. I have the ability to make a lot of credit purchases because of available credit to me. It is the fact that I have the ability to do this not that I have done it. They give me a 820 credit score because I pay my bills on time and have little debt then slam me for insurances purposes because of this good history.

Explorer offered to quote me from another company they write for after I complained bitterly about the screwing I just received. Why didn't they do this in the beginning and why did I have to contact them? If they were looking out for me they would have done this in the beginning.

Bottom line, I called Thumb Insurance in Grand Rapids, MI and talked with Sue Ellens and her quote was $200 less than the Explorer quote from the same insurance company. Needless to say, I immediately wrote the $1677 check for the same coverage for a year's worth of insurance.

Last summer there was a lot of talk on this site about insurance and I know several of you are having policies renew in the next few months. I don't like bashing one of our sponsors but it is a buyer beware situation. I saved nearly 50% by changing companies.

[JIM CHALOUPKA]

Denny, Thanks for the heads up. This is another example of the benefits of belonging to POG!
Glad to hear that you got a good rate elsewhere and did not have to pay that high rate.

By the way whatever happened to your Hearse Toad you were going to use??

[JIM KELLER]

Denny, Great post. As you know I also have a Country Coach the same year as yours. After reading your post I started thinking " I might be under insured." I have a $500,000. policy through National Interstate for $1,329. per year. $1,677. seems like a good price for $1,000,000. of coverage. I do have a $5,000,000. Umbrella policy but I still suspect my policy is to low. Regardless, Explorer seems out of line.

How do others on this site feel about coverage ?

[merle&louise]

I have used Thum Insurance for 15 years. Great service and the best prices.

[Jon Wehrenberg]

Jim K,

If your Interstate coverage is equal to the mandated limits of your umbrella policy it does not make sense to increase the coverage. The umbrella policy will kick in on any claims in excess of the $500,000.

[JIM KELLER]

Jon, Thanks.

[Denny]

Jim K.

I too have an umbrella policy that kicks in after the limits are reached on the basic policies. I have a 1,000,000 policy for funeral home vehicles, libility, malpractice, etc. with the umbrella after that. As I recall, the difference between 500,000 and 1,000,000 was just a few dollars so I went with a higher basic policy to save on the umbrella policy.

When it came time to insure the bus I stayed with the same philosophy.

Jim C.

As for the hearse toad, I have kept quiet about it. Last summer when I mentioned it, the Bling contest was underway and I was a newcommer to POG so I did not want to take any of the shine away from the veterans who were fighting for this coveted award.