Just got my 06 watercraft policy with a note from Liberty Mutual. They suggest finding the "true" value of my boat (hull only not contents) and adjust the hull coverage accordingly. meaning by them an 11 yr old boat that has been insured for 20K might be overinsured today, and they will only pay the pro-rated or book value of the craft anyway. Interesting that the insurance company actually suggests decreasing your over-insured coverage to save me some $$$. But I need to increase the contents coverage, with all them there fancy electronical stuff.:laughs:

Anyway does this make sense? Sound fishy ???(sorry)

How can i find the book value of my 11 yr old boat?

I believe your electronics are covered under the hull coverage, not contents coverage. I always get an "agreed value" policy, that way there are no disagreements if you have a total loss. I added $10,000 additional coverage for fishing and related gear for about $30 a year.

NADA---> http://d.nadaguides.com/SectionHome/Marine.asp?UserID=71090DA329E0C&DID=38401&ColorId=&wSec=4&wPg=1172

I added extra for equipment... Rods, Reels and Electronics are well over $10K...

Just got my 06 watercraft policy with a note from Liberty Mutual. They suggest finding the "true" value of my boat (hull only not contents) and adjust the hull coverage accordingly. meaning by them an 11 yr old boat that has been insured for 20K might be overinsured today, and they will only pay the pro-rated or book value of the craft anyway. Interesting that the insurance company actually suggests decreasing your over-insured coverage to save me some $$$. But I need to increase the contents coverage, with all them there fancy electronical stuff.:laughs:

Anyway does this make sense? Sound fishy ???(sorry)

How can i find the book value of my 11 yr old boat?

Don't forget to take a deduction in value because of the crappy steering system !!!

NADA---> http://d.nadaguides.com/SectionHome/Marine.asp?UserID=71090DA329E0C&DID=38401&ColorId=&wSec=4&wPg=1172

SWEET, that worked great, I gonna go over the numbers with the insurance rep. But i think i'm pretty close after all.