need new Insurance company

[Pete Masterson]

A. Limit of Liability is the lesser of:

1. Actual cash value of the property

2. Amount necessary to repair or replace ... with other ... like kind and quality, or

3. Rating basis stated in the declarations

B. An adjustment for depreciation and physical condition will be made in determining actual cash value in the event of a total loss.

-- This is pretty common language to most vehicle insurance policies. I did not request a "stated value" policy (and I don't know if one is offered). The policy is also subject to the California Department of Insurance regulations (since the address used is in California). This has some impact on how much of a hose they can use.

I've not had any claims under this policy (nor the previous policy on my coach that I held).

I have twice in my life had to deal with "total loss" situations, both handled through California State Auto Assn., which has a better than average reputation. 

The first time, the car was 45 days old (this was 33 years ago) and my bride-to-be totaled it 2 days before our wedding. They paid promptly after verifying that the vehicle was, indeed, not repairable. (My bride-to-be rolled it 3-1/2 times.) They paid full invoice price of the car, less 10 cents per mile and the deductible. They did not pay the _sales tax_, however. Aside from the sales tax issue, the payment was reasonable.

A couple years ago, someone made an ill-advised left turn in front of my wife, causing a semi-head on collision. Her 12 year old Honda Civic, was, to my surprise, "totaled." Frankly, the damage didn't look that bad, but the cost of repairs exceeded the value of the car. The insurance company paid off promptly at a reasonable value for the vehicle as compared to the retail book price. (CSAA handled the claim and re-collected from the insurance of the at-fault driver. CSAA is notably pro-client in those circumstances, according to anecdotal reports I've heard.)

As for the coach, I'm sure a total loss might bring out some 'discussion' over the loss amount, but I know to get the appropriate professional help, should a negotiation occur. Since a total loss of a vehicle valued above $100K is unlikely, it would mostly be a repair situation, and the insurance company is basically "stuck" with a reasonable number of repair estimates.

PS. I'm still married to the lady who totaled my brand-new car. I didn't drive with her behind the wheel for nearly 10 years -- and now I only do that very rarely. She does not drive my bus. Some things you never forget.

Pete Masterson

'95 Blue Bird Wanderlodge WBDA 42

El Sobrante CA

"aeonix1@mac.com"

On Mar 5, 2008, at 2:59 PM, Leroy Eckert wrote:

But is it agreed value for the life of the policy, in writing? If not, they will bring the hose with them.
Leroy Eckert
1990 WB-40 Smoke N Mirrors
Dahlonega, GA
Royale Conversion

Pete Masterson <"aeonix1@mac.com"> wrote:

When I got a quote on insurance from the agent lurking in a CampingWorld store, the valued the coach based on the depreciated value based on the original list price. It didn't matter that I had a receipt for the actual price paid, etc. Their insurance price was way high anyway. (And the "free" camping guide that was offered as an inducement to sit down for the quote turned out to be a year out-of-date, too... )

My first policy was with National Interstate Insurance Company and my current policy is with Great American Assurance Company through the FMCA Five Star program. (see www.FMCAFiveStar.com ) You need to be a FMCA member to take advantage of their offering. The coverage was based on the price I paid for the coach.

Pete Masterson

'95 Blue Bird Wanderlodge WBDA 42

El Sobrante CA

"aeonix1@mac.com"

On Mar 5, 2008, at 7:38 AM, Dorn Hetzel wrote:

I can't even imagine what "book value" is for my 77FC35...  Do they allow negative numbers?

<snip>

---

Be a better friend, newshound, and know-it-all with Yahoo! Mobile. [url=http://us.rd.yahoo.com/evt=51733/*http://mobile.yahoo.com/;_ylt=Ahu06i62sR...o8Wcj9tAcJ ]Try it now.[/url]