This is the wording for our policy's section on Partial Loss:

2) Partial Loss

If the watercraft sustains partial damage from a covered loss we will pay
the reasonable cost to repair, in accordance with customary repair
practices, or replace, whichever is less, with like kind and quality
without deduction for depreciation up to the amount of physical damage
coverage shown on the Pleasurecraft Insurance Policy Declarations page.


We will only pay Actual Cash Value at the time of the loss for sails,
protective covers, fabric or similar material, older than (5) years of age.

We will reduce our payment by any amount paid for a previous loss to the
watercraft if damage from a previous occurrence was not repaired.


The definition of watercraft includes spars, rigging, etc.;

*Watercraft* means the vessel(s) you own, as described on the Pleasurecraft
Insurance Policy Declarations page, including the power units and/or
auxiliary outboard motors, spars, sails, rigging, accessories and equipment
together with any dinghy or tender.

This is a Cowan Group Policy, in Canada.

I looked at a different policy last time we renewed and I didn't like the
wording for partial loss, as it did deduct for depreciation.  we stayed
with Cowan as a result.


Ken H.


On 9 February 2018 at 13:14, Della Barba, Joe via CnC-List <
cnc-list@cnc-list.com> wrote:

> Agreed value is for the entire boat. I am not sure that helps with
> dismasting or other non-total loses.
>
>
>
>
>
>
>
> Joe Della Barba
>
> Coquina
>
>
>
>
>
> *From:* CnC-List [mailto:cnc-list-boun...@cnc-list.com] *On Behalf Of *Marek
> Dziedzic via CnC-List
> *Sent:* Friday, February 09, 2018 12:09 PM
> *To:* cnc-list@cnc-list.com
> *Cc:* Marek Dziedzic
> *Subject:* Re: Stus-List Restarting Thread - Insurance
>
>
>
> 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
>
>
>
> Marek
>
> in Ottawa, ON
>
>
>
> *From:* John Christopher via CnC-List
>
> *Sent:* Friday, February 9, 2018 11:57
>
> *To:* 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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