[quote=MillCreek][quote=MN3][img]http://www.thebeachcats.com/gallery2/main.php?g2_view=core.DownloadItem&g2_itemId=123996&g2_serialNumber=4[/img]
word of caution here... you can pay for $20,000 worth of insurance on your boat
but if it is destroyed... (I THINK) your gonna get blue book value - not 20k minus your deductible
I had 5k of insurance on my boat @340 year with allstate for 4 years and decided it wasn't worth it in after a while
i NEED to find a cheap liability plan[/quote]
MN3
Boat policies are stated value/ acv which means you would receive what the boat is worth if totaled out. On the policy above you see the words Replacement Cost Option. This means basically if you have a partial loss to the boat you will get brand new less deductible with no depreciation. So mast, sails or whatever is damaged stolen or lost, you get brand new less deductible, up to the policy limits. If the cost exceeds the value of the boat then they will total the boat and trailer if covered. If so, then you get paid for the whole package and they get the boat and you get a check for ACV. However, the company really doesn't want the boat and you can buy it back as salvage at a huge discount and then turn around and buy the parts. All legal!<!-- editby --><em>Edited by MillCreek on Aug 01, 2016 - 01:22 PM.</em><!-- end editby --> [/quote]
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