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Originally Posted by Van
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. 
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 !!!