Insurance

[gata119]

I searched the word "insurance" and the last post was Jan. 2021 so figured I would ask.  What insurance companies and what type of coverage do you have on your rebuilt classic Aquasport?  My 1971 240 rebuild will be complete soon and I'm starting to look for insurance.  I called Progressive and they will go up to 60k coverage on the boat which is all I need.  She did go into all the other coverages too like liability, uninsured motorists, medical payments, etc. etc. just like car insurance.  Any recommendations on insurance companies and the type of coverage?  Thanks!!!!!

[boatnamesue]

Tough finding boat coverage for classics because it’s value is entirely dependent upon what the market will pay at an unknown future date.  You’ll want to find a company that will write a policy for predetermined cash value agreed upon by both parties.  Estimate what the market wud pay then seek out a cash value policy for that amount. 

[gata119]

Copy, thank you. 

[Ulysses485]

I got nothing for your insurance question but are you going to share that bad beast when she is finished? :) Did you close the transom?

Wait, didn’t someone at some point recommend or say something regarding an appraisal for the rebuild to be provided to the insurance company?

[McAllgeyver]

I have progressive insurance covering my classic.  And it is a set cash payout in the event of a totaled boat or theft.  And added their sign and glide on the water towing too for a few extra a month. Nobody came out for an appraisal and they said nothing about the hp rating either.