{Stus-List} Insurance Question

[Frederick G Street]

I've got an agreed-value policy with BoatUS.  They've been great to work with, and considering the age of the boat (1979), the insurance seems pretty reasonable to me.

Fred Street -- Minneapolis
S/V Oceanis (1979 C&C Landfall 38) -- on the hard in Bayfield, WI   :^(

On Mar 15, 2010, at 5:23 PM, OldSteveH wrote:

> Folks I am purchasing a 28 year old C&C 34. An insurer quoted it two ways:
> - actual cash value policy
> - agreed value policy
> 
> The agreed version is more than double the premium. The agent explained that
> its like replacement cost insurance versus fair market value insurance. On
> the fmv version you are only covered for what the boat is worth at the time,
> ie un-depreciated portion.
> 
> What type of insurance do most of you have? Any comments on pros and cons?
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