Originally Posted by alystra
This is interesting. I always thought that marine insurance was different, in that what you were insuring was a sum of money that reflected the value of the boat at the time of the contract and that's what they paid you if your boat was lost.
I'm probably being naive these days.
The insurance company should agree a value with you at the time of taking out your insurance as some off road 4x4 policys do, but with most companys all they want is your money,and when shit hits the fan and you need to claim,then the fun begins with the owness put on you to prove value, Allso how many people cruise out of there insured range or rcd rating, which im sure in the event of a claim at sea would be looked into by the company to find a way to reject the claim.
Ive found with boat insurance, if you intend doing anything out of the policy limits then inform them, change storage location,night use, left on temporary mooring,change cruising range, etc etc. Pain in the arse i know but better be safe than sorry.