You'll want to look very closely for issues related to depreciation. If you
have a policy in PDF format, you can do a search on words like "depreciate"
"depreciation" and 20%" and you should find it.
Bruce Whitmore
(847) 404-5092 (mobile)
bwhitm...@sbcglobal.net
On Monday, November 11, 2019, 4:18:10 PM EST, Allen Miles via CnC-List
<cnc-list@cnc-list.com> wrote:
I have agreed hull value with BoatUS. I don't remember seeing a change in
coverage.
Allen MilesS/v SeptimaC&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.
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_______________________________________________
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
