I have Geico Insurance through BoatUS. Agreed value is agreed value. They only depreciate items that are depreciable, like sails or the engine. A couple of years ago, my boom cracked after getting hung up on a crab pot. Geico paid the full cost of replacing the boom - parts and labor, with no depreciation. I suspect your new insurance company's policy does the same thing.
Alan Bergen 35 Mk III Thirsty Rose City YC Portland, OR On Sun, Nov 10, 2019 at 1:39 PM David Risch via CnC-List < cnc-list@cnc-list.com> wrote: > I may be repeating myself here, but it bears repeating. Check your boat > coverage. BoatIUS had reimbursement coverage before they switched to GEICO > as their carrier last year. Now it is depreciated value coverage. > Reimbursement coverage pays for replacing damages up to the agreed value. > Depreciated coverage drops to 20% over time to where most of our boats > would only receive 20% of fixing damages! I switched coverage when I > learned of this and I still pay the same premium. > > > > I bring this up because one of our brethren has been caught by this issue > after a recent incident. If your broker cannot find a reimbursement > carrier, let me know. I will provide the contact info of my guy. > _______________________________________________ > > Thanks everyone for supporting this list with your contributions. Each > and every one is greatly appreciated. If you want to support the list - > use PayPal to send contribution -- > https://urldefense.proofpoint.com/v2/url?u=https-3A__www.paypal.me_stumurray&d=DwICAg&c=clK7kQUTWtAVEOVIgvi0NU5BOUHhpN0H8p7CSfnc_gI&r=9w3G7Cf8YfQnrjmtuNxwDJYr3JMv9f1pAfgAJ9xXYQQ&m=k2Lt-SG6o9I03vcyylQHhk3NCZ4wYxvCecLDss6-pRQ&s=9rx_5cAXI0FUZ8v4mk3THOkZozwGMz4wlqzriOi9sak&e= > >
_______________________________________________ Thanks everyone for supporting this list with your contributions. Each and every one is greatly appreciated. If you want to support the list - use PayPal to send contribution -- https://www.paypal.me/stumurray
