Mike wrote:
I live on the coast,,, boat is docked in Pensacola. My boat is insured for $45K ,,, total loss. Yes the depreciation aspect sucks if it's not a total loss but living down here that's all I'm worried about. Most things I can repair however if I ever loose the rig I'd be stuck. To get the $45K total loss figure I had to get the boat surveyed; been with BoatUS many years and that's probably why the total loss number is so high compared to the true value of the boat. Yearly premium is around $1300.
I'm over in Bayou Chico. Got mine surveyed in 2016 for BoatUS. Premium is around $1600 on $42K. But I haven't had any claims so my partial loss deductible is only $319 this year. But 5% of insured value if the loss is from a named storm.
I just had a
horrible thought.
Somebody is naming WINTER storms now. What happens if the NWS starts naming winter storms and your boat gets damaged during the storm? I just looked at weather.gov and did not see where they were naming winter storms yet.