Insurance value...?

[56mulberry]

Now that boat will be in water all the time for use I am getting insurance quotes...so far State Farm (my primary insurer for all else...too high!) SkiSafe, and Progressive..

Progressive looks the best with 50/100/50 liability (50 k cuz a new Bennington pontoon costs you $45k if you total it for the other guy...) and $500 ded on Comp/Collision which to me are the 2 most important things to have in a boat...comprehensie covg for something that happens out of my control (theft, fire, storm, etc..) and collision covg for things happening when in my control..(hit a log, dock, rock, etc..)

This sets me back about $156-$187/yr depending on the following...whether I go with "actual cash value" or "agreed value"...the problem is thus...my 1980 AmSkier "books" for $3000 according to NADA quotes which the ins companies are using...I told them if I could buy MY boat for $3000 I would have 4 or 5 of them.....

SO I can go with "agreed value" which lets me declare a value that we agree on (I guess based on market value and resale and a little voodoo maybe..?) Not sure yet how it works, as I am doing an internet application up to this point. 

But I am not sure what to go with as far as value at this time....Anybody care to opine?

It is 1980 American Skier 18 in EXTREMELY nice restored condition at this point......will attach pics on next post...

[Mike Harry]

Its like this bro (at least it was with my 1965 F-100)

The agreed value is based on taking the boat to an insurance company or they come to you. The auditor looks at it and comes up with a value and you agree or you dont.

I didnt get near as much as it cost me to restore the old girl, I was pissed to say the least. Even it its pristine condition. I ended up going with a collector car type insurance which sucked cause I could only put so many miles on it a year.

Dont know if it would work exactly the same, but that was my experience with agreed value. It was however well higher than the NADA value............

[Midskier]

TRY http://www.globalmarineinsurance.com/

I use them and as an AWSA member I get an additional discount

worth a PHONE call

good luck

Dan T

[56mulberry]

will check them out...