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Old 26 February 2014, 10:26   #21
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I've been mulling over this and it's made me speak to my insurance company about my cover and try and answer all the what ifs. Like how do I prove locks were used, it was on when I got the rib so I don't have an invoice etc..

I am now more worried, as I have a 2007 motor and they take the RRP of a replacement and deduct 10% PA for a maximum of 70%. So if mine got stolen working on a 12k replacement value I would only get paid 5740 ish.

So I wouldn't be able to afford a replacement 175 I had stolen....
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Old 26 February 2014, 10:44   #22
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Quote:
Originally Posted by SteveHall View Post
I am now more worried, as I have a 2007 motor and they take the RRP of a replacement and deduct 10% PA for a maximum of 70%. So if mine got stolen working on a 12k replacement value I would only get paid 5740 ish.

So I wouldn't be able to afford a replacement 175 I had stolen....
Over here, we have something called a yacht policy or agreed value policy - you pick the value (replacement value - sometimes just supported by purchase price, sometimes a survey needs to be done). Lots of people don't still don't get these type of policies but being that my rib it's a 20 year old hull and a 10 year old engine, if I didn't, the insurance company would tell me it's worth nothing (and I know what a replacement costs!). Is that sort of insurance product available in the UK?
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Old 26 February 2014, 11:05   #23
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Country: UK - England
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Originally Posted by SteveHall View Post
I've been mulling over this and it's made me speak to my insurance company about my cover and try and answer all the what ifs. Like how do I prove locks were used, it was on when I got the rib so I don't have an invoice etc..

I am now more worried, as I have a 2007 motor and they take the RRP of a replacement and deduct 10% PA for a maximum of 70%. So if mine got stolen working on a 12k replacement value I would only get paid 5740 ish.

So I wouldn't be able to afford a replacement 175 I had stolen....
I'm not convinced that 5740 ( ish) isn't far away from the cost of a seven ish year old 175 etec . Its not a
'new for old' type policy - its the same as your car . You dont get a 2014 model if someone pinches your 2007 model.

Your insurers (should the worse happen - lets hope it doesn't ) should be in a position to take a sensible view of replacement value after applying any 'rule' like this and looking in thier little black book of values.

Anything you have to support a higher 'value' is worth keeping - every bit of paper for service , repair , pictures , other similar engines for sale prices etc will help .

The 'history' of an engine I think would always be of value if you wanted to sell it on in the future....
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Old 26 February 2014, 11:08   #24
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Agreed

friend lost his 250 yam and they offered bugger all. he said fine, you go and get me one with one owner and fsh instead then. they negotiated and he got what it would cost to replace. he then went and bought a new one..... but that got nicked within a week of being in the water. he sold up and bought a dory with a 50 2st.
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Old 26 February 2014, 11:22   #25
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I'm not convinced that 5740 ( ish) isn't far away from the cost of a seven ish year old 175 etec . Its not a
'new for old' type policy - its the same as your car . You dont get a 2014 model if someone pinches your 2007 model.

Your insurers (should the worse happen - lets hope it doesn't ) should be in a position to take a sensible view of replacement value after applying any 'rule' like this and looking in thier little black book of values.

Anything you have to support a higher 'value' is worth keeping - every bit of paper for service , repair , pictures , other similar engines for sale prices etc will help .

The 'history' of an engine I think would always be of value if you wanted to sell it on in the future....

I do agree, and I take all reasonable care protecting my hard earned kit - and if the worst should happen, and I hope it never will for anyone I wouldn't have enough to replace it with like for like, I understand new for old isn't possible but would I be able to find a motor that's as well looked after as mine?
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Old 26 February 2014, 11:55   #26
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And what's wrong with being a Gloucester tosser anyway
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