Proof of value

[DenoL]

I'm new to these forums, I have recently purchased an older boat 1967 MPG Edinboro. I'm having challenges insuring the boat an trailer. Insurers stating I need to prove its value how do I do that?

 

[Chris1956]

I doubt you will want collision insurance. Can you get liability insurance w/o it's value?

FYI Allstate would not insure it at all due to it's age.

You can try a kelly blue book or NADA type site. Figure it is worth very little, say $500

 

[roffey]

short answer would be to get a marine survey of your boat. They will give you comparable boat values ... and give you insight as to the condition of the boat. Some say money well spent.

 

[roffey]

and you sure its not an MFG?

 

[Chris1956]

A marine survey on an old and cheap boat? Really?

I would look for a fly-by-night insurance company who would insure it for liability, and call it a day.

 

[roffey]

A marine survey on an old and cheap boat? Really?

I would look for a fly-by-night insurance company who would insure it for liability, and call it a day.

he did ask for a value... but I do agree, a survey is expensive and not normally done on older smaller boats.

 

[dingbat]

Contact one of the dedicated Marine Insurance companies like Boat US or Progressive.

Ask for an actual cash value policy and see what they say. An agreed value policy will cost you more, but may be a way around it

 

[mr 88]

As noted. boat is worth around 500 + motor value and if it's the same vintage figure 250. Survey is a waste of money for that boat. Allstate did just liability with one of my boats last year and that was close to 600 for 300,000.

 

[ahicks]

Many times you can buy a policy with an "agreed on" value that they will pay on a total loss scenario.