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Hello, How do you insure an old whaler where the book is much less than what the replacement cost is? I have a 84 montauk in excellent condition with a new kicker and my ins co wont insure past 3k.

Pete

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Pete,

You shop around until you find an insurance company that will insure it for it is worth. There are lots of different policies out there and not all insurance companies are created equal.

What you are looking for is an "Agreed Value" policy. I insure my Whaler with INAMAR, a boat specific insurance company.

http://www.inamarmarine.com/

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Thanks much for your help.
Pete

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State Farm did my 1983 without a single question. Made me email a picture of it to them was all they asked for.

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You have to make sure the value that is determined is fair market. An agreed amount and stated amount are 2 different numbers. You can insure it for 25k but if it is worth 15k, that is what you will get. Keep a handle on the depreciation or appreciation.

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Thanks all .............. I got a couple quotes and Inamar was the easiest and best for greater liability and med coverage with a $500.00 ded on damage. A fair price. I'm happy.

Pete

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Most insurance companies will require a full survey by a licensed professional to insure a boat for more than it's blue book worth. That survey will need to include a fair market and replacement value for the boat.

My best friends wife used to sell insurance and she helped me through this with my 22.

I currently am using Safeco for my insurance.