I have 2 boats insured thru Travelers and they will reduce value as boat gets older in many cases. There are many boats that "appreciate" with age - my old Bertram 31 being one of them as I sold it for twice what I paid. I would try for a real marine policy that replaces "new for old" and has a latent defect clause. These are probably next to impossible for a small outboard vessel like I have now but it doesn't hurt to search around.
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