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Old 21-01-2022, 14:47   #31
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Join Date: Feb 2021
Location: Nomadic
Posts: 335
Re: Insurance companies that are still writing for newer owners

You should regardless always maintain your legal domicile at a real residential address.

No need to actually live there, much less own it of course. Different from your mail forwarding service.

http://www.cruisersforum.com/forums/...tc-208306.html

http://www.cruisersforum.com/forums/....php?p=2800731

https://www.cruisersforum.com/forums...ml#post3302319
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Old 21-01-2022, 14:51   #32
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Join Date: Dec 2014
Location: Santa Rosa
Boat: Hunter 420 Passage
Posts: 69
Re: Insurance companies that are still writing for newer owners

[QUOTE=TabbyCat;3559241].... and now you have just posted in a public forum that you changed an answer on your insurance application just to get coverage. Please do an internet search for "Uberrimae fidei" , which is part of every insurance contract.
/QUOTE]

You are mistaken or I was not clear. Once we realized that using the boat as a full time residence wasn’t possible we arranged to maintain a land residence as well so as to be in perfect compliance.
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Old 21-01-2022, 15:45   #33
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Location: Clear Lake Shores, TX
Boat: 2000 Catalina 470 #058
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Re: Insurance companies that are still writing for newer owners

Quote:
Originally Posted by svfinlandia View Post
They did not give me the option of an agreed value policy for my motorcycle. I think for vehicles that is called replacement value insurance.
They went by advance book value on the bike which was way, way lower than replacement price. Kelly blue book was much closer but they would not use it of course.
I ended up taking about $750 and the motorcycle and rebuilding it over the winter which cost about $1000.
I will never trade pennies ever again with progressive insurance on anything!

Al, S/V Finlandia

Book value and replacement cost are two very different things. With insurance you either have replacement coverage or you have depreciated coverage. Sounds like you had the latter. Gotta have the right expectations for what you have purchased.


Bringing this back to boat insurance, IMO agreed hull value is the way to go.
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