I agree with Joel.
The Agreed Value says that everyone's agreed as to the payment in the event of
a total loss.
I'm looking at the declarations page from Boat U.S. right now, and it says
nothing about depreciation in the case of repairs (for less than a total loss).
That is buried down in the policy language itself on Page 4 of 13 under "(2)
Repair for Partial Loss"
I'm just plain offended... Bruce Whitmore
(847) 404-5092 (mobile)
bwhitm...@sbcglobal.net
From: Joel Aronson via CnC-List <cnc-list@cnc-list.com>
To: cnc-list@cnc-list.com
Cc: Joel Aronson <joel.aron...@gmail.com>
Sent: Friday, February 9, 2018 12:31 PM
Subject: Re: Stus-List Restarting Thread - Insurance
"Agreed value" applies in a total loss situation. Its a ceiling, not a floor.
Joel
| | Virus-free. www.avg.com |
On Fri, Feb 9, 2018 at 12:21 PM, John Christopher via CnC-List
<cnc-list@cnc-list.com> wrote:
You could very well be right (being in Canada) for the last 10 years, but let’s
keep an eye on what the fine print says on renewal forms as a trend.
/J
On Feb 9, 2018, at 12:09 PM, Marek Dziedzic <dziedzi...@hotmail.com> wrote:
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 Marekin Ottawa, ON From: John Christopher via CnC-ListSent:
Friday, February 9, 2018 11:57To: Joel Aronson Cc: John Christopher ;
cnc-list@cnc-list.com Subject: Re: Stus-List Restarting Thread - Insurance:
SHAME on Boat U.S./Geico! Hi, 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.
/J
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Thanks everyone for supporting this list with your contributions. Each and
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_______________________________________________
Thanks everyone for supporting this list with your contributions. Each and
every one is greatly appreciated. If you want to support the list - use PayPal
to send contribution -- https://www.paypal.me/stumurray
