Thanks, Alan. I appreciate the good advice. I don't expect to get what I put into her. I just want to be thoughtful on how I insure her. 👍
On Sun, Jun 26, 2022, 6:10 PM ALAN BERGEN via CnC-List < cnc-list@cnc-list.com> wrote: > See what other boats like yours are selling for on Yachtworld.com to give > you a better idea of what to insure her for. Also get a quote from > Progressive. I had insurance through BoatUS for decades, but a quote from > Progressive was less than half of what GEICO wanted. Don't skimp on > liability insurance. That will cover you if youy damage someone else's > property, and it's cheaper hthat hull insurance. Things like spars and > sails are depreciated, unless the boat is totaled. $70k does sound high to > me. Don't expect to get back what you put into her. > > Alan Bergen > 35 Mk III Thirsty > Rose City YC > Portland, OR > > > > On Sun, Jun 26, 2022 at 2:55 PM Brian Davis via CnC-List < > cnc-list@cnc-list.com> wrote: > >> I have an insurance question for my fellow C&C'ers. My wife and I bought >> Nina (1980 Landfall 38) 6 years ago for $25k. I've had Geico Marine ever >> since for an insured value of $30k with a vanishing deductible that is now >> zero. I have since restored her to about 95% and tracked all my receipts in >> a spreadsheet totalling $45k. We are very happy with the result and the >> only remaining 2 projects are a dodger/bimini and replacing the side plexi >> windows. >> >> I inquired with Geico Marine about increasing the coverage from $30k to >> $70k. I would first need to pay for a surveyor to inspect and write a >> report (I don't know how much this is). Then my rate would go from $1,759 >> to $2,372 per year. >> >> I know this is a sliding scale based on the condition of each boat, and >> I'm cool with the money I've put into her so far since we love her. Nearly >> all of it is parts cost only because I am a skilled craftsman. Is $70k to >> much insurance, and is $2,372 to much to pay for it? >> >> Would appreciate any thoughts and advice. >> >> Regards, >> Brian >> >
