Isn’t one of the options the so called “agreed value” insurance? This is what I
am using for over 10 years (both for the previous boat and this one). This way,
the value does not depreciate over time. You agree on the value (in fact you
call it, but they adjust the premium) and that’s it. Any additional costs
(liability, salvage etc.) don’t depreciate, so it is not the issue.
just my 2 (Canadian) cents
in Ottawa, ON
From: John Christopher via CnC-List
Sent: Friday, February 9, 2018 11:57
To: Joel Aronson
Cc: John Christopher ; email@example.com
Subject: Re: Stus-List Restarting Thread - Insurance: SHAME on Boat U.S./Geico!
Have been monitoring this thread from the Canadian north.
A pattern to consider in relation to depreciation is, considering the
hurricanes, storms, frequency, numbers, and perhaps where people store their
boats for the winter (mainland or other).
It comes to mind the insurers are also mitigating their risk for the future.
As a result they have devised a method that supports paying out far less than
they do today due to the increased frequency of disasters.
I don’t mean to stir the pot here, just an observation.
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