Speak to a supervisor. There should be no depreciation for those parts.

On Sun, Nov 10, 2019 at 2:37 PM Danny Haughey via CnC-List <
cnc-list@cnc-list.com> wrote:

> Geico marine insurance is depreciating my anchor roller, blow pulpit and
> stanchions by 80% because they say those parts are from 1985...
>
>
>
> Thanks,
> Danny
>
> -------- Original message --------
> From: ALAN BERGEN via CnC-List <cnc-list@cnc-list.com>
> Date: 11/10/19 5:27 PM (GMT-05:00)
> To: C&C <cnc-list@cnc-list.com>
> Cc: ALAN BERGEN <trya...@alumni.usc.edu>
> Subject: Re: Stus-List Boat insurance...reimbursement vs. depreciated
> coverage...
>
> 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.
>> _______________________________________________
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>>
>>
>
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