Anyone else noticed?

dave603 · 01-21-2015, 06:30 PM

Got the insurance bill for the boat, and noticed the valuation price went UP!
Went and checked boat blue book and the same.

anyone else checked your values lately?

Dave R · 01-22-2015, 07:16 AM

The economic crash in 2008 wiped out many boat builders and dramatically slowed the ones that survived. Thus, there are very few late model used boats in the market now and with the economy turned around, the demand for them is high. That drives their value up and should increase the cost to insure them, even if insurance rates don't go up.

dave603 · 01-22-2015, 07:31 AM

Actually the insurance cost went down. I assume because the boat is a year older. But the valuation went up.

Rich · 01-25-2015, 01:59 PM

If you like, you can call your insurance company and reduce your insured value.

01-21-2015, 06:30 PM	#1
dave603 Senior Member Join Date: Apr 2013 Location: Nashua/Winnisquam Posts: 282 Thanks: 106 Thanked 96 Times in 49 Posts	Anyone else noticed? Got the insurance bill for the boat, and noticed the valuation price went UP! Went and checked boat blue book and the same. anyone else checked your values lately?

01-25-2015, 01:59 PM	#4
Rich Senior Member Join Date: Jun 2012 Location: Derry / Gilford Posts: 1,219 Thanks: 68 Thanked 341 Times in 231 Posts	If you like, you can call your insurance company and reduce your insured value. __________________ Don't listen to me, obviously I don't understand what I'm talking about! Let's help each other save time and money: WinniGas.com

01-22-2015, 07:16 AM	#2
Dave R Senior Member Join Date: Jul 2004 Posts: 2,974 Thanks: 246 Thanked 736 Times in 438 Posts	The economic crash in 2008 wiped out many boat builders and dramatically slowed the ones that survived. Thus, there are very few late model used boats in the market now and with the economy turned around, the demand for them is high. That drives their value up and should increase the cost to insure them, even if insurance rates don't go up.

The Following User Says Thank You to Dave R For This Useful Post:
dave603 (01-22-2015)

01-22-2015, 07:31 AM	#3
dave603 Senior Member Join Date: Apr 2013 Location: Nashua/Winnisquam Posts: 282 Thanks: 106 Thanked 96 Times in 49 Posts	Actually the insurance cost went down. I assume because the boat is a year older. But the valuation went up.