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-   -   My own (positive) GMAC experience. (http://www.skoolie.net/forums/f18/my-own-positive-gmac-experience-6347.html)

Timelord 02-06-2011 05:14 PM

My own (positive) GMAC experience.
 
I needed some fairly basic liability insurance quick and GMAC fit the bill. It is currently running me about $42 a month right now for 6 months up front on a $50k/$100k plan. Not too bad given I was having difficulty finding anyone else to cover the bus, let alone cover it quickly so I could pick up the darn thing. Nationwide turned me down hard, as did others eventually. Unless, it was suggested, I went to some form of ghastly expensive commercial plan.

Once time comes I've put some serious funds into the bus and get to actually use it proper (Rather than keeping it in the field!), I will be revisiting the insurance options available for generous coverage. Given how helpful and upfront GMAC has been so far, I certainly hope to stay with them when that time comes around. After my discussion with agent about my future needs, there certainly seems justification for some optimism.

Anyhoo, that's my two bits.

lornaschinske 02-06-2011 06:42 PM

Re: My own (positive) GMAC experience.
 
Before you fork out the buck for the more expensive insurance, you might want to talk to the insurance agent about the odd of the insurance company paying out. We only want minimum insurance. It's been my experience that Insurance companies do not pay out. They didn't pay out what they were supposed to for our house that burned. They didn't pay out when some idiot hit our Cadillac (I hate Nationwide). They depreciate everything and then tell us our stuff is worthless. So why would I pay for higher insurance premiums.. I don't have it on anything else. So for the bus,we will run minimums and stick the "premiums " in the savings account. I'm not a big fan of insurance companies. They rank right there with lawyers, cops, drug dealers and doctors.

somewhereinusa 02-06-2011 06:58 PM

Re: My own (positive) GMAC experience.
 
What Lorna said

Timelord 02-06-2011 07:36 PM

Re: My own (positive) GMAC experience.
 
Quote:

Originally Posted by lornaschinske
Before you fork out the buck for the more expensive insurance, you might want to talk to the insurance agent about the odd of the insurance company paying out. We only want minimum insurance. It's been my experience that Insurance companies do not pay out. They didn't pay out what they were supposed to for our house that burned. They didn't pay out when some idiot hit our Cadillac (I hate Nationwide). They depreciate everything and then tell us our stuff is worthless. So why would I pay for higher insurance premiums.. I don't have it on anything else. So for the bus,we will run minimums and stick the "premiums " in the savings account. I'm not a big fan of insurance companies. They rank right there with lawyers, cops, drug dealers and doctors.

Quote:

Originally Posted by somewhereinusa
What Lorna said

Well, you guys certainly aren't the only one to have been burned on insurance, won't be the last. Still, I intend to put a great deal of money into this home on wheels and if it were to be lost in fire, wreck, or inexplicably swallowed by a whale, the loss would be catastrophic for me. Obviously I will invest significant time in research as to my available options and make sure to study the contract for the exact nature of coverage actually present. If all else fails, there is always drawn out legal battles to bitterly pursue.

It might be better, however, that a discussion of the evils of insurance as a whole be taken to another thread. I had only wished to express my recent satisfaction with GMAC. :(

lornaschinske 02-06-2011 08:17 PM

Re: My own (positive) GMAC experience.
 
So far it seems that GMAC is the only outfit offering Liability insurance on skoolies without canceling the policy out shortly after issuing. Anything more and I believe you are at risk to be canceled. I wasn't knocking GMAC. I was just pointing out that you need to make sure you fully understand IF you will truly be covered.


If your bus gets swallowed by a whale... I want to see pictures!!!! :lol:

Timelord 02-06-2011 08:36 PM

Re: My own (positive) GMAC experience.
 
Fair enough! ...As for the pictures, I expect the agent will asking for those as well.

"While it is an impressive whale, I do not see your bus." "...but..." :lol:

shortstuff 02-11-2011 07:18 PM

Re: My own (positive) GMAC experience.
 
Quote:

Originally Posted by Timelord
Quote:

Originally Posted by lornaschinske
Before you fork out the buck for the more expensive insurance, you might want to talk to the insurance agent about the odd of the insurance company paying out. We only want minimum insurance. It's been my experience that Insurance companies do not pay out. They didn't pay out what they were supposed to for our house that burned. They didn't pay out when some idiot hit our Cadillac (I hate Nationwide). They depreciate everything and then tell us our stuff is worthless. So why would I pay for higher insurance premiums.. I don't have it on anything else. So for the bus,we will run minimums and stick the "premiums " in the savings account. I'm not a big fan of insurance companies. They rank right there with lawyers, cops, drug dealers and doctors.

Quote:

Originally Posted by somewhereinusa
What Lorna said

Well, you guys certainly aren't the only one to have been burned on insurance, won't be the last. Still, I intend to put a great deal of money into this home on wheels and if it were to be lost in fire, wreck, or inexplicably swallowed by a whale, the loss would be catastrophic for me. Obviously I will invest significant time in research as to my available options and make sure to study the contract for the exact nature of coverage actually present. If all else fails, there is always drawn out legal battles to bitterly pursue.

It might be better, however, that a discussion of the evils of insurance as a whole be taken to another thread. I had only wished to express my recent satisfaction with GMAC. :(


Been with GMAC for about 4 years under basic covreage.Only put about 20,000 on it'I think'.

I understand though that you want whatever you can get if something happens.


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