how do i find my boats value?

[CAPT. DORADO]

hi im trying to get insurance on my boat and i dont know what the value of my boat is. i am young AND this is my first time to do all this insurance stuff on a boat and their is alot of things that i dont really understand. i have a 1982 grady white 226 seafarer on tailer with a 1993 225 evinrude... im really not sure what to put down in some of these blanks do you think you guys could help me out.

im thinking that in the blank i put in auctual cash value, im thinking that maybe that just means thats the highest they will go to insure, meaning they will only pay the value they want not the auctual ammount.


thanks chris

 

[G8RDave]

The best way I know of finding out the value of a boat is to see what they are going for on Boat Trader or Yacht Trader. Take the asking price and subtract 10% or more. My policy is a "stated value" policy meaning that they will pay be the stated amount regardless of the actual value of the boat. Of course the higher the stated amount, the higher the premiums. I went with a stated amount based on what my boat would have sold for at the time I got the policy.

Here's one just a bit newer than yours.
http://www.boattrader.com/listing/1986- ... R-95882422

 

[finnaddict]

go to nadaguide.com they will give you the retail value or just check in with your local dealer they have the nada book on hand

 

[3rd Day]

Both replies should answer your question. Prior to purchase I checked NADA and made my deal. Then got with my insurance agent and insured it for an agreed amount based on NADA and his guidlines for coverage. I carry an amount of coverage that would replace the boat with one just like her in regards to age/condition/equipment and so on. Hope this helps.

 

[Bill_N]

Agree with the statements above but get at least 3 quotes talk to the agents and compare coverage. A lot of agencies offer boat insurance but have no idea what they should cover in your boating area.

Give Seahorse Underwriters a call. They have good coverage, prices and knowledgable agents.

Bill