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Thread: Boat Insurance Vaulations
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07-08-2020, 10:08 AM #11
My policy covers liability and replacement value of boat, trailer and gear.
Also included is roadside assistance while trailering and towing and recovery on the water.
Sent from my iPhone using Tapatalk2021 Supra SA 400
2018 Supra SA 400 (SOLD)
Michigan
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07-08-2020, 10:23 AM #12Junior Member
- Join Date
- May 2018
- Posts
- 6
Boat insurance is typically done on agreed value which you can have set at whatever amount you want, to an extent. If you have a loan on the boat you need to tak with the lien holder to see the amount of coverages they require you. Other than that, if you value just the boat and motor at 20k but have like 10k of stereo equipment then you can insure it for 30k and should the boat get totaled then the insurance will pay you the 30k. Whatever you choose just make sure that you have coverage for any environmental cleanup as well.
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07-08-2020, 10:53 AM #13
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07-08-2020, 12:13 PM #14
skisafe on our old policy was something like 950k in environmental.
'06 Supra Launch 20SSV-gone but never forgotten
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07-08-2020, 03:09 PM #15
BIA policy
For some reason, they don’t want me running in Florida inland waters......
Sent from my iPhone using Tapatalk2021 Supra SA 400
2018 Supra SA 400 (SOLD)
Michigan
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07-08-2020, 04:55 PM #16
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07-08-2020, 05:18 PM #17
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06-09-2022, 01:06 PM #18
Thead bump. My insurance company a few years back gave me an "Agreed Value" of $19k. Looking at the market today and what I've got I'm quite convinced that is WAY low. However I'm getting estimates of around $300 for an ACMS certified appraisal that I can send in to insurance so they'll raise the coverage. Wondering if that price seems realistic? Never done one of these before.
NADA is currently saying around $35k with my options. However when I spoke with the insurance rep, when they look at NADA they don't consider any of the options/accessories or the fact that the boat has basically been completely restored.
So the official appraisal seems like my only option here. Thoughts?So when is this "old enough to know better" supposed to kick in?
2001 MobiusV - Slightly Modified...
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06-09-2022, 01:12 PM #192022 Mojo - 400 - flow 3 - OJ 930 15.5x15 prop - 1k lead - 2.5-3k elevation
previous: 2007 centurion elite V air warrior
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06-09-2022, 02:07 PM #20
You can cover it all with additional cost. I know with vehicles, insurance looks at the VIN and covers just that. I added coverage for my Wrangler but the extra cost wasn't much. I keep pictures and receipts of the added items. Same thing applies to my Razor SxS.
1998 Mobius
310 HP PCM
SOLD