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Old 05-11-2017, 03:13 PM
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Another insurance thread.. basic questions

I did do some searching on here and did not find any straight answers/advice. So here is the question:

According to my insurance agent for my 2017 Recon, if it is stolen or totaled in an accident I will only receive 75% of the blue book value of the vehicle. After going further with this, looking up the Recon on KBB, it is listed as a "Sahara", not a Recon and is valued at ~$33k. So 75% of $33k is ~$25k.. So after spending $50k to walk off the dealer lot lets say I get mugged (yeah, I'm being optimistic here) and the car is not recovered.. Nationwide insurance will give me $25K?? That sounds crazy- surely this isn't the case?

I spoke with my agent and claims directly and was told yes that is generally true and they can't give me exact numbers until the event happens. Ok, so you are telling me to jump off a bridge before you let me know if I have a parachute??

Fortunately I've never been in any significant crash, so I have little experience with this, but I also don't like being in a situation where I lose 50% of the vehicle value. The vehicle is insured in Maryland and I'm told I can't get "new car replacement" because i paid cash for the vehicle and have no loan.. I'm open to suggestions.. Have tried searching for insurance companies that deal with Jeeps specifically but found none..

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Old 05-11-2017, 03:22 PM   #2
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Yep, that's how it works. Some companies pay more, I'd suggest shopping around.

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Old 05-11-2017, 03:27 PM
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Thank you Mr. Sinister; If anyone has had any good experiences with an insurance provider regarding their Jeep value, I'd be interested. In the meantime I am shopping around but haven't improved the odds yet..
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Old 05-11-2017, 03:34 PM   #4
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Haven't used them myself but Liberty Mutual has their "new car replacement" program that you might want to look into.

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If your totaled car is under one year old and has less than 15,000 miles, New Car Replacement is an optional coverage for your Liberty Mutual Auto Insurance policy that provides you with the money for a brand new car, not just the depreciated value of your old car.
https://www.libertymutual.com/auto/c...ment-insurance
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Old 05-11-2017, 03:37 PM   #5
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They also have a "Better Car Replacement" program.

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What is Better Car Replacement?
As much as we try to avoid them, accidents happen. Adding Better Car Replacement coverage to your Liberty Mutual Auto Insurance policy means that when your car is deemed a total loss, we'll give you the money for a replacement car that is one model year newer with 15,000 fewer miles than your current car.*
https://www.libertymutual.com/auto/c...ar-replacement
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Old 05-11-2017, 03:50 PM   #6
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Thank you Mr. Sinister; If anyone has had any good experiences with an insurance provider regarding their Jeep value, I'd be interested. In the meantime I am shopping around but haven't improved the odds yet..
If in the service or a vet, or mother or father is a vet and used USAA try them.
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Old 05-11-2017, 03:56 PM   #7
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You need to go to an independent agent. I was loyal to Nationwide for 21 years and then an independent agent cut my premiums in half with better coverage.

Insurance is a contract. There are different coverage/premium options available.
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Old 05-11-2017, 03:59 PM   #8
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My '15 Willys got totaled @ 7K miles and 364days of ownership. I got my money back less TT&L.

and your overthinking it. they are not going to use a base sahara to value your special edition rubicon.
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Old 05-11-2017, 04:03 PM   #9
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also, check in a couple months on KBB. My 2014 Willys model wasn't on their site until late 2014/ early 2015 I believe.
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Old 05-11-2017, 04:13 PM   #10
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Insurance quotes/settlements are VIN specific.
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Old 05-11-2017, 05:17 PM
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Haven't used them myself but Liberty Mutual has their "new car replacement" program that you might want to look into.
Chucktastic- just did and got a quote from them. They were significantly more helpful and while they didn't offer new car replacement, they do have an add on that upgrades the value of the replacement cost. It costs double my other insurance, but what good is cheap insurance if you aren't reimbursed??

Thanks for the help..
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Old 05-11-2017, 07:07 PM   #12
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Our "agent" was a "family friend" screwing us out of a ton of money. We shopped out at least 12 companies and Nationwide was the most expensive and had the worst coverage. Get rid of the Agent and shop around. Good Luck.
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Old 05-11-2017, 07:30 PM   #13
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Use NADA, I think they give a more fair value, and all my dealers around here go by it...KBB sucks
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Old 05-11-2017, 09:12 PM   #14
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Originally Posted by sistrus View Post
Thank you Mr. Sinister; If anyone has had any good experiences with an insurance provider regarding their Jeep value, I'd be interested. In the meantime I am shopping around but haven't improved the odds yet..
When my 2011 JKUR was totaled last October, my insurance company treated me very fairly. In July of 2013 I bought a 2011 JKUR in immaculate condition with 19k on the clock. I paid $32k and added about $4.5k in mods, so I had roughly $36.5k in the Jeep. Fast forward to October 2016 and 40k miles later, it was totaled. Without removing any mods from the Jeep, State Farm gave me a check for $34k (well, actually one check to the bank to pay it off, and one check to me for the rest. But the total settlement was $34k and change).

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Old 05-12-2017, 06:07 AM
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Our "agent" was a "family friend" screwing us out of a ton of money. We shopped out at least 12 companies and Nationwide was the most expensive and had the worst coverage. Get rid of the Agent and shop around. Good Luck.
Thanks everyone for all the help. My Nationwide rate is part of a family package and its ridiculously cheap ($70) per month for my VIN. Going to Liberty Mutual is going to take it up to $125 (I've been told MD has higher rates).

I'm going to sit on it for a few days as I'm "covered" (or not) but the may try switching the one policy to Liberty Mutual and hope I never use it. I'm going to do some more digging. I'm not eligible for USAA and some other recommendations on other threads don't cover where I live. I also want to see if Liberty Mutual will give me any added value for some Mopar dealer installed upgrades or other accessories (and that's not a deal breaker for me as I doubt they will cover it).

Liberty mutual said they don't use KBB, but NADA which is VIN specific whereas Nationwide told me KBB. On a final note, when my mother was on the other end of Nationwide (their client ran a red light and nearly killed her) they were completely unhelpful and gave her very little on her almost new VW diesel Jetta (which I know is also based on the car's value which isn't good for VW).

Appreciate the insights- that's why I posted; I've already learned a lot from it..
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Old 05-12-2017, 06:51 AM   #16
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Chucktastic- just did and got a quote from them. They were significantly more helpful and while they didn't offer new car replacement, they do have an add on that upgrades the value of the replacement cost. It costs double my other insurance, but what good is cheap insurance if you aren't reimbursed??

Thanks for the help..
The counterpoint is "What good is expensive insurance if you don't make a claim??"

You need to look at your specific situation and decide whether it's worth the extra money or not. I usually go cheap on insurance and have saved enough over the years that even in a total loss situation on a brand new Jeep I would be pretty close to breaking even. Of course the lower your rates, the less advantageous the lower levels of coverage are. Doubling your rates for another $10k in coverage makes more sense at $300 a year than at $1200 a year.

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