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Author Topic: Insurance  (Read 4974 times)
gus
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« Reply #30 on: February 04, 2013, 10:30:18 AM »

Chuck's case is unusual, he was paid because the recovery caused his damage.

If he had damaged the bus running onto the shoulder he would have been paid if it was considered an accident. Unless there is an accident you aren't covered.

So, as luvrbus said, engines, trans & such failures are not usually covered by insurance. However, there is always that exception!

Mechanical breakdown insurance can be bought for new RVs, but I doubt that can be done for any bus conversion since most are so old.
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PD4107-152
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Lin
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« Reply #31 on: February 04, 2013, 10:44:19 AM »

Yeah Gus, If you want to hear someone laugh real loud, call Good Sam next time they solicit you for breakdown insurance and ask about the policy for a mid 60's bus.
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« Reply #32 on: February 04, 2013, 10:51:48 AM »

Brian has a good point on glass, I think Collision is required in order to get Comprehensive which is non-accident glass coverage. (Birds, rocks, hail etc)


Lin,

I thought about doing that a couple of times for my laughs, not theirs!
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belfert
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« Reply #33 on: February 04, 2013, 05:44:51 PM »

I talked to my agent today about some other issues and asked about coverage on my bus.  I have the choice of liability only coverage, liability plus comprehensive, or full coverage including comp/collision.  Full glass coverage is separate and costs me $59 a year.  I think I need comprehensive coverage to get glass coverage.

My bus is valued using stated value.  Stated value is supposed to be better than agreed value.  My agent states I will be paid the full stated value if my vehicle is totaled.  I think I need to call my insurance company directly to verify the whole stated value thing.
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Brian Elfert - 1995 Dina Viaggio 1000 Series 60/B500 - 75% done but usable - Minneapolis, MN
luvrbus
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« Reply #34 on: February 04, 2013, 06:00:45 PM »

Agreed or Stated value needs to be redone every time you renew the policy no matter what a sales person tells BTDT no way will you get the agreed or stated amount down the road in 2 years and it is up to you to prove the value

 Insurance co's love to take your money they just don't like part with,I have the replacement clause in mine being a manufactured RV meaning they will replace it with the same model and size or newer we will see how that works if the time comes
« Last Edit: February 04, 2013, 06:13:30 PM by luvrbus » Logged

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eagle19952
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« Reply #35 on: February 04, 2013, 08:30:06 PM »

I have had Progressive also ( for about 10 years), and here is a bit of our last talk...
After 10 years and no accidents or claims i asked..don't you think i should get a cheaper rate...
Agent...after 10 years don't you think your coach is worth less...
so he gave me about a 30% discount on a 30% lower agreed value.
Some people leave me with the impression that their coaches don't depreciate and that they have to be worth what they paid PLUS maintenance costs... Roll Eyes
« Last Edit: February 04, 2013, 08:32:07 PM by eagle19952 » Logged

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gus
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« Reply #36 on: February 05, 2013, 12:31:15 PM »

My bus was worth quite a bit more than I paid for it at the time I bought it for various reasons, so two years later it is now probably worth about what I paid, or slightly more.

In my case it makes sense to at least have it insured for the agreed value.

So the insured value depends!!
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Emcemv
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« Reply #37 on: February 06, 2013, 03:01:29 PM »

We are getting insurance for our bus this month, I just called both GMAC and Progressive today. Progressive ended up at $464 a year including $500 ded on the comp and $1000 ded on collision. They would not do an "agreed value" policy. Value for collision is actual cash value determined by the adjuster at the time of the loss. I am considering doing liability only and that was $182 year with them.

GMAC was much higher $600 year and would not cover collision unless we get an appraisal of the bus.

I also got a quote from National Interstate Insurance co and they were comparable to Progressive, with and without collision. I don't know anything about them, seems like a no name ins co.  Anyone have any experience with them??
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Bruce & Nancy Fagley
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« Reply #38 on: February 06, 2013, 04:01:13 PM »

National Interstate is actually a fairly large company that insures many bus companies in the US.  Lancer and National Interstate are the big players in the charter bus industry.
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luvrbus
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« Reply #39 on: February 06, 2013, 04:17:21 PM »

National are heavy weights they wrote by constriction building bonds for over 20 years talk about risk a bus is nothing lol they also own Explore Insurance you see advertized in the FMCA been around since the 1800s I was told by my bonding agent
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« Reply #40 on: February 06, 2013, 06:07:09 PM »

Thanks luvrbus and boomer, I learn something new every day on this forum! So it would not be a bad idea to go with National Interstate. We may try to put everything under one company, (house & cars too) so progressive might be a better choice there.
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Bruce & Nancy Fagley
1973 MCI MC-7 Combo Freighter
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Eagle
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« Reply #41 on: February 07, 2013, 04:18:37 AM »

I had my 1985 Eagle 10 insured with National at an agreed value and 1 year ago this past September it caught fire while parked in the drive way.  (Fridge) is the suspected cause.  National paid me the agreed value as I had been with them for about 8 years and no claims.  I had to have an appraisal which is no big deal.  I even got my $1000.00 deductible back since I had not had a claim in 5 years.
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gus
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« Reply #42 on: February 07, 2013, 02:55:21 PM »

Eagle,

It is normal to be paid the deductible on a total collision claim.
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« Reply #43 on: February 08, 2013, 05:15:53 AM »

Yes if your policy has the disappearing deductible clause in the policy.  Usually each year with out a claim the deductible will decrease about $100.00.
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luvrbus
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« Reply #44 on: February 08, 2013, 05:24:23 AM »

Good to see you posting JCB how is the wife and the health
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