Boat insurance

[DRIFTER_016]

1 hour ago, AKRISONER said:

See there you go, resale on my boat is probably about $11,000, blue book is $1,500

yet insurance will only give you blue book value. That’s the problem, there’s no way they would give you $20,000 if it’s stolen, even if that’s the reality. I believe your personal belongings in the boat can still be covered by your house insurance as well. If someone hits you, then you can hand them your car insurance because it covers the trailer and your vehicle. The boat damage is on them.

 

I have my boat insured for replacement cost.

It's a '91 with newer 4 stroke, TM and electronics.

So it's insured for $32K or so incase of total loss or theft.

If it was only insured for bluebook value if someone stole the OB it would be written off and I would get so little compensation it would only cover 10%-15% of the motors value.

[Old Ironmaker]

You guys talk about "blue book" value. Where can I get that here in Canada. I use NADA that is out of the USA. You enter the make, model, year and all the accessories to get the value in USD. Mine comes out fairly close to market value here in Ontario. Location makes a big difference and it doesn't take that into account. 

[AKRISONER]

1 hour ago, Old Ironmaker said:

You guys talk about "blue book" value. Where can I get that here in Canada. I use NADA that is out of the USA. You enter the make, model, year and all the accessories to get the value in USD. Mine comes out fairly close to market value here in Ontario. Location makes a big difference and it doesn't take that into account. 

pretty sure I just used an online website. Nothing fancy. I just knew that when i saw what they valued it at in the states (1,500) i said forget it. Not to mention that they wanted me to also get a marine survey done as well. It was basically going to write my boat off just by trying to get it insured. I said forget it.

[KraTToR]

On 4/9/2019 at 9:26 AM, KawarthaAngler said:

Damn!  That's more than many cars!

Not sure about the coverage he has but Ranger bass boats are like insuring Ferrari's.  I have a '15 Ranger 620fs (multi species) and it runs me about 1200/year full replacement value and 10k in contents.  Compare that to a 100k sports car? That will run north of 2K/yr.

[Gil Levesque]

I have an 01 16' Mirrocraft. 08 Honda 25,i pilot up front. My policy with RSA is an.... Agreed value of $10,000. 2million liability, 5000 personal effects, towing to shore(great lakes), ect. No depreciation till 2021.. My premium is $345.00just renewed!!