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Old 05-26-2009, 05:29 PM   #1
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Check your Progressive Policy!

OK, long story short my F250 was caught in a hail storm and it ruined the hood, the cab, and the $2200 custom aluminum topper. I went to progressive for a claim and discovered that my policy (and all standard policies) has this little thing called CPE, which means the maximum value of coverage for items not added by the manufacturer is $1000 combined.

Did everyone with a Progressive insurance policy just get a cold chill? Good.

It gets worse, but then it gets better. Still it bears checking your policy. Here is how I understand it works:

Standard Policy (CPE): Anything not added by the manufacturer will not be covered over $1000 total. You must show receipts. Addy has a Landcruiser. Addy added a $1200 lift, an $800 roof rack and $500 bumpers. The LC goes in the drink and is a total loss. Progressive reimburses Addy for the value of the LC plus $1000 ($1200+$800+$500 = $1000)

Standard Policy (ACPE): If you have between $1000 and $4999 of additions, you can pay for additional coverage of those parts by specifying a value. You must show receipts. So Addy reads my post and calls Progressive and changes his policy to ACPE, pays the fee and takes his Landcruiser to LA where it gets stolen, crashed, and returned in a ball. Addy has receipts for the suspension and the bumpers, but he won the roof rack in a raffle and therefor does not have a receipt. Progressive reimburses the value of the LC plus $1700, despite the fact that Addy has been paying for ACPE in the amount of $2500, since he didn't have a receipt for the roof rack.

One important point on SMBs, I was very clear in establishing that Aluminess bumpers, lights, winches, and similar items added by SMB were covered as part of the original manufacturer (ergo you do not need to list your front bumper as part of the ACPE) and that SMB was considered an original manufacturer if they purchased an incomplete chassis from Ford. However if you remove the Aluminess front bumper and replace it with the exact same thing, the new bumper is no longer covered. Ditto winches, lights etc. So be wary of replacements and upgrades.

Stated Amount: Kind of like agreed value, but is based on the stated amount of accessories by insured plus the cash value of the vehicle as determined by Progressive. If the value of the vehicle is more than $5000 you can opt to change to stated amount. If the combined amount of the ACPE parts is over $5000 you automatically go must change to Stated Amount. Addy's LC is eligible and since he doesn't have a receipt for the $800 roof rack he pays for Stated Value of $2500 in additional parts and is fully covered (well as fully covered as you think "Actual Cash Value" gets you...)

Agreed Value Policy: Jay owns an SMB an buys a policy with the agreed value of his Sportsmobile. He replaces the factory installed winch and adds an $1000 roof rack. As long as the value of the SMB in total does not exceed the original agreed value, those items are fully covered. If Jay adds something that exceeds that value (hard to do with the base vehicle value dropping every day...) then he should call Progressive and establish the new agreed value.

My coverage is now as follows:
* I have standard CPE coverage on the F250, since the only added item is the topper, which is now hail damaged and worth only about $1000.
* I am switching to Stated Value coverage on the Jeep TJ since the lift alone cost nearly $5000 and I've spent years working and waiting to get the absolute best value on every item I've added, many of which are not reproducible (free rock rails with purchase of rear bumper) nor have I saved every receipt (like the Atlas II grandfathered from my XJ and purchased in '00).
* On the SMB I already had Agreed Value coverage, which I verified covers all add on items including after manufacturer and "swapped out" items (e.g. Deaver spring upgrade). Personally I think this is the type of coverage every SMB should have as you negate any issues of whether SMB added something or if SMB qualifies as a manufacturer in the first place.

See: http://www.progressive.com/understan...implified.aspx for more info, although most of this information came from a hour conversation with a Progressive rep (and her manager).
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Old 05-27-2009, 05:31 PM   #2
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Re: Check your Progressive Policy!

Isn't Insurance fun??


(What a racket)
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Old 05-27-2009, 05:33 PM   #3
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Re: Check your Progressive Policy!

This did come up when we were searching for insurance and we checked on it with National Interstate to make sure the Ford vs SMB vs Us was taken care of and we think it is.
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2006 Toyota Prius (48 to 68 mpg) 120k miles [Penelope]
2013 Jeep Wrangler Unlimited Rubicon (15 to 18 mpg) [Johnnie]
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Old 05-27-2009, 07:04 PM   #4
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Re: Check your Progressive Policy!

I worked in insurance for quite a while (mostly health insurance for businesses) and the insurance companies make the policies so hard to understand that no one can really tell what is covered and what isn't. I would be willing to bet that most insurance agents don't fully understand the policies they are selling and these are the folks we as consumers must rely on to explain the coverage. Unfortunately the only way to really know if something is covered is to make a claim.


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Old 05-27-2009, 08:38 PM   #5
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Re: Check your Progressive Policy!

I have National Interstate and reread my policy and the only place I can find where add-ons would not be covered is when making a claim for Total Loss Replacement. There it states it like jage said. Gotta be on the original invoice/installed by the manufacturer.
At least that's the way I read it. But like John said, pretty tough to understand.
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Old 05-27-2009, 10:37 PM   #6
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Re: Check your Progressive Policy!

Interestingly enough when adding my add-on coverage for the Jeep today she said, "Oh you have a lift, how tall is it?" Now I went with the 4" because I'm getting older and there are things you can't afford when supporting the SMB habit, and good thing I did to because she mentioned in Colorado they will only cover vehicles with a maximum of 4" of lift past that of the manufacturer.

Of course I followed up with a question about the SMB, and apparently there is no lift restriction in the RV policies. I don't think it would have mattered because I took the time to reestablish that SMB was the manufacturer and that originally it came with at least 4" of lift over factory-Fords, whereas with the Deavers I'm at about 6", so I personally have added at most 2". (Hard to say because the factory SMB springs were flat, so I may not have added any).

Either way it is moot because the RV policy doesn't have any sort of suspension modification restrictions. But it's not all golden, I also learned I cannot go ice fishing from the comfort of my SMB. Well I can, but it won't be covered. I would love to hear exactly why they came up with that particular clause...
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Old 05-28-2009, 07:44 AM   #7
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Re: Check your Progressive Policy!

Quote:
Originally Posted by jage
.... But it's not all golden, I also learned I cannot go ice fishing from the comfort of my SMB. Well I can, but it won't be covered. I would love to hear exactly why they came up with that particular clause...
You just know there's got to be an SMB at the bottom of some Colorado lake.


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Old 05-29-2009, 10:47 AM   #8
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Re: Check your Progressive Policy!

Jage,

Driving an 11,000l pound $100K vehicle across a frozen lake is more excitement than I could handle.

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Old 05-29-2009, 06:10 PM   #9
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Re: Check your Progressive Policy!




(of the frozen lake driving, not the insurance policy)
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2008 Ford 6.0PSD EB/E-PH SMB 4X4 Aluminess f/r bumpers (13.5mpg avg, 15mpg hwy) 52k miles [Texas McBeast]
2006 Toyota Prius (48 to 68 mpg) 120k miles [Penelope]
2013 Jeep Wrangler Unlimited Rubicon (15 to 18 mpg) [Johnnie]
2012 Mitsubishi MiEV (no gas required) ($.50/day in electricity) [Evie]
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Old 05-29-2009, 07:29 PM   #10
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Re: Check your Progressive Policy!

I wonder if the manual PH works better than the electric when below sea level?
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