Insurance claim

[nat liantonio]

Just heard from my insurance they approved damage to my hull .but the issue I'm having there deducting 30 % depredation plus my deductible which is 2500.00 $ what's up with that.

 

[mintregila]

Deductible iswhat it is.

Can't say anything about value without knowing more. You may want to check NADA or other value service and fight it if the number they are valuing it at us too low.

 

[nat liantonio]

It's a 2009 searay sun dancer replacement value is 245000.00 depreation is 10% per year from date of manufauator

 

[CaptCrunch]

Nat, so its an acv policy not agreed value? Who's the carrier. Usually most marine policies they only depriciate machinary over 10 years old

 

[rommer]

It's stories like this that confirm my mantra of agreed hull value only plans. May cost a bit more but you know what the total loss number will be.

 

[CurrentSea]

Even if you have agreed value some depreciate other boat parts in a partial loss.
So say you hit something and damage your running gear past your deductible then some will depreciate it.
Usually though most policy's don't kick in depreciation until 7 years old.

 

[nat liantonio]

It's an agreed value policy the broker is boaters choice.yhe insurance company is Mcgriff seibels and Williams insurance.

 

[CmdrCamille]

McGriff Siebels is an agent. Probably underwritten by Travellers. Go back to them and have them point those deductions out to you in the policy.

 

[JVM225]

Agreed value poliicies are the way to go. I have one for my boat, and one for my 68 GTO with a specialty company.