Quote:
Originally Posted by lawn psycho
Can also be viewed as false economy. By having an agreed value policy, the boat is worth less over time which would mean a lower rate. So we are paying a premium to hedge against ourselves.
Great if you need a claim, but it's not 'free'.
Also, I think for some boats they will not do Agreed Value based on age, etc but not 100% sure.
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That's true. But boats depreciate a lot quicker than policy increases, LOTS quicker. My premium has gone up $18 a year since 2007. The boat hasn't faired nearly that well
Insurance is all about protection when you need it, and a company that settles claims fairly if you ever do. Premiums are about the fifth thing I look at.
If I had to do it all over again, I'd have gone with BoatUS from the get go. I also have the BoatUS on water package. Thankfully, never needed it.