Roamly RV Insurance

[Spr]

Also, I called Roamly and they sound great but their claim limits max out lower than most company coverages.

[Twoxentrix]

Carl, We've had an 'agreed value' Policy since 2015 through Progressive.

[86Scotty]

I called Roamly the other day since I am about to renew all my auto insurance for a year and I have upgraded the van this past year to the tune of $30k or so.

Roamly's quote was about $1100 annually for agreed value of $50k. I wasn't too impressed with that and the agent said he could actually check a Progressive quote for me. His words exactly were that Progressive VERY RECENTLY started insuring DIY camper vans. He was able to sell me a Progressive policy for $640/year. I cannot remember my limits at the moment since I've been shopping for about 5 cars. I'll try to remember to report back.

Anyway, this was an agent who answered the phone at Roamly and sold me a Progressive policy. I do NOT have to retitle as an RV. I DO have to provide pictures of the van showing that has a bed, toilet and/or plumbed sink and that it has a stove.

[Glen]

We got the name of an agent/broker that is very knowledgeable in insuring our types of rigs from a previous thread in this forum. He has helped a number of us getting our vans properly insured. He got us a "Stated Value" policy through Safeco Insurance. Here's his contact info:

Justin Christopher Gennock
617 E. Teal Circle, Fresno, CA 93730
(866) 472-3326
Justin@gennockinsurance.com

[Twoxentrix]

Originally Posted by Glen

He got us a "Stated Value" policy through Safeco Insurance...
[/email]

Carl's initial post urged me go back to revisit our Policy with Progressive, and after talking with several different people (still waiting on a return call from a 4th senior claims analysis) this has been quite educational.
First off, a "stated" value policy doesn't necessarily mean what many may think it insinuates:
"Stated Value exists to decide how much premium you pay. Not how much you get paid."
This is what Stated Value says about a total loss:
"In the event of theft or a total loss we will pay the Stated Value
or the Actual Cash Value, whichever is less."

***So, if you have a stated value of $60k, but their research shows it's only worth $40k, then you get $40k. You can contest, and may even have to go through some type of Arbitration or possibly a Lawyer.

IMHO This is what you should go after
"You might see the term 'Guaranteed Value' in your insurance travels. What is that? 'Guaranteed Value' is just a marketing-savvy way of saying 'Agreed Value'. The two are the same.
However, it's the actual language in the policy contract that spells out what and how you get paid; not an ad headline.
So have your agent show you where in the policy language your value is either Agreed upon or Guaranteed.
If they can't... it isn't."

This article will explain it better:
https://www.lelandwest.com/stated-va...ower%20premium

Just thought you should have some clarification on what you may actually be signing up for.

[86Scotty]

Good info Felix. As a DIY/home builder I make it a point to take lots and lots of pictures of things and I keep all receipts for upgrades. I may be wrong but I figure it's the least I can do on top of a stated value policy to protect my investment, however I also believe that anything with wheels is no investment. If you lose it, you're likely to lose more than just it.

[Spr]

My understanding is that unless you have a classic car insured through Hagerty (or similar type insurance company) it is nearly impossible to get an agreed value policy underwritten over the last couple years. I had agreed value and paid a hefty premium for it but when I tried to re write an agreed value on the new rig no carrier would accept (even progressive whom I had my old agreed value policy with). In my opinion If you currently have agreed value hang onto it and don’t bring it to the carriers attention. I currently have stated value with documentation and photos to support it. Every state is different so maybe this is just where I am ��

[86Scotty]

Originally Posted by Spr

My understanding is that unless you have a classic car insured through Hagerty (or similar type insurance company) it is nearly impossible to get an agreed value policy underwritten over the last couple years. I had agreed value and paid a hefty premium for it but when I tried to re write an agreed value on the new rig no carrier would accept (even progressive whom I had my old agreed value policy with). In my opinion If you currently have agreed value hang onto it and don’t bring it to the carriers attention. I currently have stated value with documentation and photos to support it. Every state is different so maybe this is just where I am ��

That's probably it, however to be clear my new policy with Progressive is not agreed value, it is stated value.

I do know from commercial equipment insurance that big Northern cities have vastly different rates than down here for similar individuals/histories/values.

[Glen]

Interesting…. I’ll have to look into this a bit further for sure!!! I remember having to send photos & all receipts (Which, luckily, I had for almost all upgrades & add-ons). I also remember in the previous thread that I mentioned, there was about the same amount of confusion & lack of definitive answers from the insurance companies.

[cbadbox]

All this dialogue prompted me to do more research on my policy with a Roamly representative. Hope this helps.



My policy is a 135K "Agreed Value" Progressive policy brokered through Roamly. Given that the insured value exceeded Roamly limits they work with progressive to provide coverage. Premium is $1325 annually, when I went direct to Progressive the quote was significantly higher. Location is California, this is a 2023 van with a pop top and third party build out. Receipts were required to obtain the insured value. I believe if it was a used camper a third party appraisal may have been required.



My question to Roamly was;


If I understand correctly I am covered for the first 10 years at $135,000 in the event of a total loss? Are receipts from the third party builders considered appropriate supporting docs? I have all those, so once again I believe no appraisal is required if I have the supporting docs? An appraisal was never mentioned or requested when securing the policy.


The answer;


The way your policy is currently written, you would be paid $135k for a total loss from term 1-10 (9 renewals) if you do not make any changes. I am waiting to hear back from Progressive to see if they need any additional documents on file for a custom RV. However, generally, the rule of thumb is to have proper value docs or a 3rd party appraisal within 60 days of the effective date of your policy (for term 1) to keep on file in case of a total loss for reference to value. This is something you would need to have on file to provide at a time of loss. Essentially to prove the value of the vehicle is/was $135k when you began the agreed value policy.



So far no appraisal has been requested.