NJ Saltwater Fisherman Forums

Boating => Boating General Discussions => Topic started by: Reckless on August 31, 2011, 01:54:17 PM

Title: Boat insurance
Post by: Reckless on August 31, 2011, 01:54:17 PM

 How do insurance companies determine value if you have a total loss? Hell of a time to bring this up. I asked my agent and they couldn't tell me. They say the adjuster does that. NADA do they go by that? If they go by that I am ok. Another way is for me to have a survey done to determine actual market value.
So what is the cost of having a survey/appraisal done? Thanks!!  slt

Title: Re: Boat insurance
Post by: Hotrod on August 31, 2011, 04:05:38 PM

With Boat US. I have an "Agreed Value Loss"  for total lose.  For Boat and Equipment..  I think I added this to the policy when I got it..  It's what it would cost me to purchase the same boat again that was 3 years old..

Title: Re: Boat insurance
Post by: Reckless on August 31, 2011, 04:11:48 PM

Did you have to have a survey done or appraisal?

Title: Re: Boat insurance
Post by: NJ Guy on August 31, 2011, 06:29:40 PM

mine was just a agreed value for boat and equitment...(state farm)