I am currently getting quotes and haven't decided where to go yet. State Farm gave me the lowest quote, but they have a replacement value policy and not an agreed value.

OSO Friends,
WOW!! Thanks all of you for the overwhelming response!

Okay, I made some phone calls, sent some faxes and filled out a few applications. Let's see what happens....

Thanks Too Old!
I found out that Performance Marine Associates also won't insure any boat under 26' I guess this is some kind of magic number in the marine ins industry...

Jennifer,
I contacted Sy and he should be getting back to me shortly! Thanks!

Sydwayz,
I sent in the fax to IMIS! Waiting for a response. Thanks!

Risk,
Nice talking to you again! Thank you!

Aquaholic, Advantage Rob, Nasty Habbit
Thanks for the link Aqua. I got in touch with them and already received a quote. The rates were pretty good, but weren't too far off from what I'm paying now. The interesting thing is that they want an extra "Depreciation Waver" fee which will bump me up past my current amount...I really don't want to not have an Agreed Value Policy. Also, the environmental fuel spill coverage is only the same as your liability. With boatus, the spill(enviro) coverage is 500,000 regardless of liability. Thanks guys!!!

Cord,
I'm looking into these marine insurers first and then if I still come up empty, I'll start with my auto insurers and others like state farm. Many have stated what great rates they have with State Farm. Worth looking into!

BruceK,
Thanks for your PM info...I tried to write back but your PM mailbox is full.

SkaterMike,
Great Idea...Okay, What can I sell off here, hmmmm....;)

Fever,
Are we having fun yet?....:D

Greg,
Thanks! I was afraid of that, I was wondering why the rates are so good. It could get tricky in a complete loss -- as we all know how fast out boats' depreciate...I wouldn't want to get screwed in a total loss and not even be able to payoff and completely replace my boat!

BAJADAZE, CAMPISANO MARINE INSURANCE I got FULL COVERAGE for my 28 at $1080.00

Hey Mike, were you serious about that swim platform thing? You definately have a point there...

Anyway, regarding the get-together...It definately stirred me up, but damn Monday is just no good for me. Maybe the get-together is too soon. Many folks probably planned some mem. day stuff long ago(myself being one of them). As it stands now, Sunday might be my only day!

OK, I got a call back from State Farm and they said that the policy is in fact an agreed value policyu and not a replacement value policy....

If I fully disclose the HP, speed, make, model, etc of the boat and they write the policy for it, can they turn around and refuse to pay a claim in the future??

Take a look at havasucat's post...

Your confusing your terms alittle here.......there is no such thing as a "replacement value" policy. There is "agreed value", which means the boat is insured for an agreed upon value, and in the event of a total loss you would receive that amount, without depreciation. An "Actual Cash Value" policy means that you insure the boat for an agreed upon value, however, in the event of a total loss, the insurance company will pay you the book value, or what they deem it to be worth, at the time of the loss.

Both policies depreciate certain items for partial claim, i.e. batteries, canvas, machinery, etc.

Agreed Value policies are more expensive for abvious reasons, however is a much better policy. Steer clear of Actual Cash Value policies..................Hope this helps...........:) :)

Risk Taker,

Not only do you have a seemingly endless supply of jokes, but you have info on insurance also....cool!

I saw the post about State Farm and will probably steer clear of them. Initially they told me that their coverage was an "actual cash value" policy, where Iwould insure the boat for a certain value, but they would determine the value of the boat in the event of a total loss....In other words, they would depreciate the value of te boat and give me what they thought it was worth...they called back and said it was actually an agreed value policy....Either way, it still makes me nervous that I understand their policy better than they do, because I don't know much about this at all!!!!

By the way, was it you who posted the joke with all of terms used when taking a dump at work?? I've been looking for that one again and can't find it...:p :p