insurance

[strokeoluck]

My agent is asking me to estimate the individual value of our boat, the trailer and the motor. I know I can look up the NADA boat value, but how would I break out the value of the motor? And how much is a trailer typically worth? The boat is a 2005 Bayliner 185 with a 4.3L Merc. I don't know what brand the trailer is, but it's pretty basic - it does have a fold-away tongue. Thanks.

 

[Jeff-in-PA]

Re: insurance

Check the website again, I think there is a value with the motor.

Also, I have State Farm and get a 10% discount for taking the USCG boating course.

Jeff

 

[Silvertip]

Re: insurance

Take a picture and go to any local dealer and ask them what they would get for the trailer if it was on their lot. You can also do an on-line search for "Boat Dealers" and look at their pre-owned inventory of boats, motors, and trailers. The numbers are all there. You just need to search in your area -- right from your computer.

 

[rtpassini]

Re: insurance

my insurance is a whopping 50 bucks a year. lol

 

[slasmith1]

Re: insurance

Try boat us or an agent that writes more marine policies they tend to have very good rates for better coverage, as well as a better idea of a boats value.

 

[TilliamWe]

Re: insurance

Your agent doesn't know much about boat insurance does he? An I/O powered boat is insured as one unit, hull and engine/drive combined. That is the way it is valued on NADA and every other site. The only time you value boats and engines separately is if it's an outboard.
Find an agent or an insurance company that knows what they are doing, please.

 

[ziggy]

Re: insurance

maybe google buying a boat. one just like yours, perhaps in your area you live in. compare others boats to yours i judge accordingly as to what it's worth to replace yours..

 

[jay_merrill]

Re: insurance

I agree - if your agent is try to get you to value an I/O separately from the boat it is built into, he doesn't know what he is doing. In fact, why is he asking you to value the boat at all?

 

[ziggy]

Re: insurance

i'd think the agent is asking more about what size i/o engine is in it as many i/o boats come with different power packages. the more hp, the more it cost... whats the hp rating of my boat was one of the first words out of my agents mouth if i remember right...

 

[grego]

Re: insurance

Ziggy is correct! The first words from ins. agent was HORSEPOWER! You should not have to guess at prices, they should know that. I Paid a little more than half the total worth of boat and insured it for total worth of boat and added electronics. My yearly bill is $107.00 Sorry, for an earlier misleading reply.

 

[jaxnjil]

Re: insurance

grego; if you dont give them this information how will they know it?

when we insured our boat they asked for any information we could provide and then asked us what we thought it was worth. information given and recived a call next day. insurance co. came up with almost same figures.
we asked if we could insure for more to make sure we could cover a full loss.
we were told we could insure for any amount we wanted to but if a clame was ever made it would be based on market value of the boat at time of clame. we wernt sure this was right. wife called to check on coverage in another town and got ptetty much the same story.