Need some input/advice ....New to me boat

[Ymmit]

Hello new to the forum.  I'm hoping I can get some input on how much to value a boost I recently acquired. The boat is a 2003  16'6" Lund Pro Angler, "03" 70hp 4 stroke EFI Suzuki , "03" Shorelander roller trailer w/fold away tongue,  all with minimal hours. 1 owner of which i know so I can trust the hours. I have a 2 1/2" thick file folder of everything that's been done from yearly service to items installed including all the receipts for everything.

So my predicament is trying to figure out the value to insure it for. 

Items Installed on the boat.

Anchor mate 

55# minnkota w/builtin transducer and copilot added on

Front and rear depth finders

New deep cycle batteries. 

4 seats

Wavewackers

So as the boat it self what would you think the value is? Id hate to short myself. I only paid $4500 and that's not including all his fishing gear he threw in. 

 

Any input will be greatly appreciated. 

Tim

[Ray Berg]

Check craigslist see if there are any boats like yours on there. If so how much are they asking.

[Ymmit]

Yeah I thought if that. Just looking for other opinions. 

[Mike89]

dealer then add $$$

[delcecchi]

For boats, I think you can get a policy where you tell them the value.  So, if you had to get another boat, sort of equivalent,  what would you think you would have to spend?.   Ask whether the stuff like trolling motor and depth finders are part of the value or if they are added on like the contents of a house for homeowners insurance.  

[bucketmouth64]

You can go and look at NADA for boats. And if that doesn't cover all the items in the boat then you could estimate those items. You can get an insurance policy with an "agreed value" coverage. I did this with Progressive recently. Another money saver is don't go thru Progressive directly. You can save a lot of money going thru an agent, saved at least $100. If you want a name message me.

[John Mickish]

Insure it for what you think the value is, or to put it another way, what would it cost you to replace the boat.

Do your homework as not all insurance companies think the same.

For example;

My boat is insured for replacement value (a figure I put on the boat and the value I put on the trailer, each is separate). Items bolted to the boat ie: talon, outboard, trolling motor and sonars are considered to be part of the boat, but things that are loose are considered personal items (rods and tackle). The personal items value will be a value YOU come up with. Put the pencil to the paper on this one, things add up in a hurry. Don't forget if you have a buddy's stuff in your boat and you stop for lunch and all the stuff gets ripped off you are insuring his stuff too, if your not make sure you tell him you don't carry enough insurance for his tackle and rods.

 

I insure my boat and trailer thru a place that only does boats, and since boats typically have a very low insurance claim rate it's pretty affordable to carry good insurance.

[AaronTC05]

On 12/27/2016 at 3:14 PM, JohnMickish said:

I insure my boat and trailer thru a place that only does boats, and since boats typically have a very low insurance claim rate it's pretty affordable to carry good insurance.

 

What place do you use that only does boats?

[John Mickish]

I use Worldwide Marine. There are others but this place has fantastic customer service. Two of my friends have had MAJOR incidents while on the road (one boat was stolen, one boat was sideswiped by a dump truck), in both incidents' Worldwide Marine went way above and beyond, IMO.

[loadmaster]

When I insured my boat, my agent told me to take pictures of everything in the boat.   They had a lot of people claiming they had high end graphs that were stolen but not the case.  Lay out all of your rods and open  all of your  cases.  Make sure you show the maker and type rod you  have.  

[John Mickish]

That is good advice for everything in your home  and garage as well.