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Insurance replacing boat?

 
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scottp



Joined: 17 Jun 2012
Posts: 110
Location: Fort mcmurray

PostPosted: Sun May 15, 2016 11:54 pm    Post subject: Insurance replacing boat? Reply with quote

Hello I have replacement coverage on my boat it didn't survive the fire in mcmurray and I was just trying to figure out does replacement mean I am getting a brand new boat for 89g or they giving me what I paid for it a few years ago when I bought it and it was used. I realize I should talk to adjuster but he has his hands full said they dealing with all the house claims before we can look at boats
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dutchie



Joined: 11 Apr 2013
Posts: 22

PostPosted: Mon May 16, 2016 1:39 am    Post subject: Reply with quote

Replacement cost ,
That means your getting a brand new boat at whatever today's cost is , most likely they will want 3 quotes , and then they will try to stick you with the lowest of the 3 , stand your ground and force them to pay for the same boat you had from the same builder , on a small note , inform them that Outlaw is coast guard approved and you want that from your builder

These things I know as I had replacement cost on my tomcat that got stolen a year ago last March , they will even so much as try to offer you a low cash payout , also on a side note check your policy , you should be covered up to $1500 for a rental boat if needed , and most times your covered for what was inside your boat

Sucks yours burnt ,but smart you had replacement cost , only way to go , watch your insurance company and if trouble get your broker involved to fight for you as he sold you the policy ,

Best of luck
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