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what's my boat worth?

davidgree1

By davidgree1,
in General Discussion Area

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martho Completely Addicted

martho

Posted
Posted
When you got it insured, your Insurance company SHOULD have put a value on the policy.

Why would there be a value on the policy if it is not a stated(agreed) value policy?

There may be a limit of liability for that section of the policy, but if there is an ACV settlement clause, there will not be a value on the policy.

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areamike Seeking A Life

areamike

Posted
Posted
When you got it insured, your Insurance company SHOULD have put a value on the policy.

Why would there be a value on the policy if it is not a stated(agreed) value policy?

There may be a limit of liability for that section of the policy, but if there is an ACV settlement clause, there will not be a value on the policy.

Only speaking from experience. The last two companies I had insured my boat with (American Family and Ski Safe) both put a value on the boat policy. I imagine that value would have to be reassessed at incident time though.

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