We are taking delivery on a 2023 Newell (#1750) next month, and I'm having a terrible time finding anyone that will insure it for full value. Everyone seems to cap out at $1M stated value or less. Several folks have suggested Ron Jarvie, and he doesn't have anything above $1M, either. Does anyone have any suggestions? Thank you
Ed,
Congrats on your new ride. I hope you are enjoying retirement and not missing the TV audience disagreeing with a call.
Try these folks.
https://thuminsurance.com/
Thank you, Richard. I thought I was going to miss all that abuse, but my wife assured me that she'd have no problem taking over that responsibility, and she's done a very admirable job the last 4 years!!
And thanks for the reverence to Melissa Thum. I've been working with her for a couple months, and so far, she hasn't been able to find anything. It seems that people are either self-insuring above $1M, or they are wrapping the RV with expensive houses, ("house" - what's that??) etc., and paying annual premiums in the 30-50K range.
In the yachting world, most boat owners of very large yachts are self insuring. They might pick up a liability policy just to meet the requirements of using a marina but otherwise they sock away the savings to cover any issue that comes up.
Ed, Great to see you here! I can't help with insurance, but looking forward to your experience and pictures! (Simon Kotsailidis, East Desert Electric)
How does the owner of a Newell, Prevost, Foretravel or other “high-end” coach find insurance? We mortgaged our future and sold our kids into slavery to buy a 2023 Newell, but then I hit a brick wall in finding insurance to cover the whole thing. I learned that many folks self-insure a large part of it, or some get two policies, (which you can’t do in some states). But I financed as much of the coach as I could, (my money makes far more invested than the 4% I’m paying for the loan), but the lender insists on coverage to the extent of the loan. So I either have to find insurance for the whole loan, or put almost a million down on the purchase. Besides, why would I want to take the chance on totaling a $2M coach by fire or otherwise, and not have insurance to cover the whole thing?
So I started this thread seeking insurance advice, since I was striking out everywhere in my search for full coverage on a $2M coach. I tried FMCA, Progressive, RLI, Safeco, and the agents who have been recommended for insurance for high-end coaches. None of those carriers would go over $1M, and the agents to whom I was referred, (including Ron Jarvie, Melissa Thum), couldn't get me anything.
Ultimately, Steve (CaptainGizmo) referred me to State Farm, and he was right – thank you CaptainGizmo‼! State Farm is the answer for expensive coaches. Steve referred me to his State Farm agent in CA (and AZ):
And since my residence is South Dakota, (we’re full-timers), Steve Little referred me to a South Dakota State Farm agent:
Aaron has lined me up with full coverage and exactly what I want with State Farm. Delivery of the coach in 3 weeks!
Thanks again, CaptainGizmo, and all who offered help!
Ed
Awesome feeling Ed?
Congrats on knocking down that wall getting between you and your new rig!
Ed, congrats on getting the brand new 2023 rig! It must be an eye-popping creature for some junior gurus like me.
I recently joined the forum here because I picked up a trashed potato from an auction yard and looking for some advice.
I am paying sub $2k/annual for my 18 years old coach.
What's your insurance premium look like for a $2m up policy, and how to earn comfortably and consistently over 4% without losing a shirt or skin, if you don't mind sharing that?
Can you post some pics of your auction Newell?
Best Regards.
Quote:Can you post some pics of your auction Newell?
Best Regards.
You are asking about my Newell 2004-701 auction photos? or
[email protected]'s 2023-1750?
I'll not do that under this thread because this is a discussion about
[email protected]'s coach insurance.
But I'd be happy to create a separate thread concerning 701, to include photos that I downloaded from the auction listing, as well as photos that I took upon picking her up 2 days ago.
update:
I realize I had already posted photos (from the auction) as well as design plans for 701:
photos & driving video downloaded from auctioneer site:
"Newell Gurus > Welcome > Please introduce yourself
http://newellgurus.com/showthread.php?tid=6660
2004 Newell 701 specs, drawing, order form, and photo pack (photos of 2012?)
Newell Gurus > Documentation > Newell Coach Original Blueprints or Plans
http://newellgurus.com/showthread.php?tid=6669
Right now 701 is at a truck repair shop, I drove it directly from auction site to a repair shop 2 days ago because it has big air leak and the coach leans to one side.