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AAM196 View Drop Down
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    Posted: August-14-2020 at 1:48pm
Until recently, I have been more than happy with BoatUS.  2 years ago, after discussion with BoatUS rep, we set my agreed value at $15,300 for boat and $2,000 for trailer... It is a 1999 closed bow ski nautique on an eagle trailer.  It spends it's time in a heated garage except for when we take it to lake etc to ski and gets wiped down and back in garage when not in use.  I know Geico underwrites for them and they use BUC.com to establish value and can go 20% more or less to come up with value.

Well I just got my renewal letter and on the declaration page they dropped the value EXACTLY 15%.  I spoke with Dad who has two boats insured with them and both of his were devalued by 15% as well.  I called and got the runaround and am finding what used to be a very specific niche boat company is becoming more like the rest... I was also told (probably against the companies wishes) they spent a fortune of the past few hurricane seasons... thus limiting exposure!

I spoke to a few reps and they are obviously trained well to deflect, they have said, "send pics and for sale adds of examples selling like yours..." I did, they say well... "we insure for Agreed Value not replacement", then they say, "feel free to hire a marine surveyor, but we still can't guarantee we will use their assessment.."

I called ski safe and the quoted me and came up with 15k for boat and 3k for trailer but they are charging twice the premium.  

Anyone have similar experience?


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Jonny Quest View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jonny Quest Quote  Post ReplyReply Direct Link To This Post Posted: August-14-2020 at 2:02pm
Progressive Insurance .  Reasonable Rates with stipulated loss values.  

JQ
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uncle-buck View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote uncle-buck Quote  Post ReplyReply Direct Link To This Post Posted: August-14-2020 at 9:55pm
Originally posted by Jonny Quest Jonny Quest wrote:

Progressive Insurance .  Reasonable Rates with stipulated loss values.  

JQ

Ditto on Progressive. Just switched to them today.
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AAM196 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote AAM196 Quote  Post ReplyReply Direct Link To This Post Posted: August-20-2020 at 2:02pm
Just as a follow up, once I was actually able to speak to an underwriter, he updated the agreed value back to the $17,300 without any issue.  I will say it was very hard to get an underwriter on phone!

My premium is 35% less than the progressive and 80% less than ski safe quotes everything being equal/close.  I don't have progressive auto which would probably knock it down a bit for multi-policy discount..
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Nautiquehunter View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nautiquehunter Quote  Post ReplyReply Direct Link To This Post Posted: August-21-2020 at 3:45pm
Geico uses Boat US for their carrier.
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