Is anyone looking at reducing the comprehensive coverage on their coach with the declining value of our older coaches? Could save some money on yearly insurance costs.
GregM
Is anyone looking at reducing the comprehensive coverage on their coach with the declining value of our older coaches? Could save some money on yearly insurance costs.
GregM
I expect to discuss this with my carrier when we're due for our policy to renew.
We'll see if there's significant savings or not......
I purchased my coach for $195 6 years ago and insured it for the same until my renewal last Nov. I reduced my coverage to $119 because they won't give you anymore than what the market is if something happens. I saved several hundred Lewbucks. Will look up if you put the pressure on me. Kathy will, I mean.
Question is, how do we or the insurance co. determine market value? There is not a blue book for our coaches (to my knowledge).
It's called an "agreed value" policy, kind of what you do with a classic car, so you need to work it out with the insurance company.
Chances are, they will have no problem if you claim a "low" value, since it minimizes their risk.
So, if your number is higher than what they feel is accurate, you will need documentation to convince them.
Shouldn't be a problem if you're dealing with an agent that's experienced in writing these types of policies.
I had a salesman tell me how they appraised coaches(the SWAG method) Scientific Wild Ass Guess,I am not sure that anyone has a better method.