Quote:
Originally Posted by Seeker
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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Ask your agent to do a stated value, that is what I have. The value stays the same every year unless you drop it or if you request a higher limit after a year they might do some research on it. It is sort of like a "guaranteed replacement cost for your car." I have $8,000 on mine with a $100 deductible with 100,000/300,000 liability, with coverage for up to $500 in personal property in the boat with no deductible. I am paying $268