Classic SeaCraft Community  

Go Back   Classic SeaCraft Community > General Discussion > General
FAQ Community Calendar Today's Posts Search

Notices

 
 
Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 11-08-2011, 11:47 AM
Handful in NC Handful in NC is offline
Senior Member
 
Join Date: Jan 2010
Location: New Bern, NC
Posts: 119
Default Insurance Question on Major Rehab

I just finished a major rehab on a '74 23' Tsunami (see the thread under Repairs/Mods) and need insurance advice.

First, I'm way upside down on the market value versus my investment, which is okay because I've got what I want and plan to enjoy it for a long time. (Take note you newbies asking questions about doing a major rehab or buying an already rehabbed boat.) Second, my boat insurance has always been ACV (actual cash value) coverage, and this just doesn't work on an older hull, especially for one in excellent condition or rehabbed. The adjusters can't make the numbers work to support a high enough value.

I am interested in replacement coverage based on an agreed upon value. Basically, if my boat is insured for X dollars and is totaled, I receive X dollars with no painful negotiation. Black and white, cut and dried. My local insurance agent said a survey by a credentialed surveyor and good documentation of my expenses would help obtain coverage, both of which I have, and he is obtaining quotes.

Surely someone on this forum has dealt with this issue before - good insurance coverage for an older fully restored boat. Any recommendations?

Last edited by Handful in NC; 11-08-2011 at 12:01 PM.
Reply With Quote
 


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 08:58 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2025, vBulletin Solutions, Inc.
All original content © 2003-2013 ClassicSeacraft