The change was that things other than the agreed upon hull value depreciate for older boats. I saw the new provision in my GEICO policy after this list alerted me to it.
From: Allen Miles via CnC-List Sent: Monday, November 11, 2019 4:17 PM To: CNC Cc: Allen Miles Subject: Re: Stus-List Boat insurance...reimbursement vs. depreciated coverage... I have agreed hull value with BoatUS. I don't remember seeing a change in coverage. Allen Miles S/v Septima C&C 30-2 Hampton, VA On Sun, Nov 10, 2019 at 4:39 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://www.paypal.me/stumurray -------------------------------------------------------------------------------- _______________________________________________ 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
_______________________________________________ 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
