insurance

I have been think of insuring mine for $10,000 or better then sinking it so I can buy a newer one!! ;) ;D
 
I had to show the insurance people receipts for all the work I had done in order to justify the value. Once I did that they insured it for the value I requested, which was no small amount I can assure you. I'll probably drop it down in a few years, but I just wanted to make sure my investment was covered. ;)
 
I had to show the insurance people receipts for all the work I had done in order to justify the value. Once I did that they insured it for the value I requested, which was no small amount I can assure you. I'll probably drop it down in a few years, but I just wanted to make sure my investment was covered
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So much for that Idea!! I have done all the work my self and have no receipts :'(

I think that is called fraud buddy
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Only if you get caught ;)
 
I have Progressive Boat Ins. It is agreed value, $12500.00 for mine, they just ask you on the phone what its worth, and tow coverage too. Around $200 a year for all with the disappearing deductible. Goes down 25% each year you don't have a claim.
 
same as RMB , progressive

i never had it until we started trailering to the keys. i don't worry on the water, its the interstate i sweat.
 
A Lot of the Charter guys down here have Boat US and I have all three boats with them..Frank
 
"I don't like insurance, there's no risk in it."

Quoted from Burt Reynolds character in everyone's favorite "good ole boy" movie, Deliverence.

(cue dueling banjo music now)

8)
 
And you all probably think I am kidding,
well here I am driving the V:


meamishdriver2.jpg
 
Pipe_Dream said:
I had to show the insurance people receipts for all the work I had done in order to justify the value.  Once I did that they insured it for the value I requested, which was no small amount I can assure you.  I'll probably drop it down in a few years, but I just wanted to make sure my investment was covered.   ;)
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Just because you have a boat insured for a certain amount does not mean that they will pay that amount in a case of a total loss. You have to have a stated value for your boat and if you do not then they will pay up to the amount you have it insured. I have mine insured for like 8,500 and if its totaled they will determine the value which could be 6,500 and thats what I would receive. Just about all insurance Co. would require a survey to insure an older boat for stated value.
 
randlemanboater said:
I have Progressive Boat Ins.  It is agreed value, $12500.00 for mine, they just ask you on the phone what its worth, and tow coverage too.  Around $200 a year for all with the disappearing deductible.  Goes down 25% each year you don't have a claim.
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Sorry to say this but I bet you do not have agreed value. I'm in the business and the insurance co would require more documentation for that coverage. If you ask I bet they will tell you that they will pay up to that amount depending on the boats value at the time of loss. This is a common mistake and I have even heard the sale agents make this mistake. You should give them a call or read the section of your policy talking about how a loss is settled.
 
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