Originally Posted by Sailingsid
No offer as yet however I have the hull insured for 2.5K and trailer £500 but worth a lot more in my opinion.
I'll phone them first thing to see what they're offering.
If you have stated the value of the items to be less than their current market value then there may be a clause in the policy that allows insurers to pay only a proportion of the repair costs.
ie, item stated value of £3000, actual current market value say, £4500, means you have only insured two thirds of your property. They may be within the rights of the policy to only offer two thirds of the repair costs (assuming that they are covered at all).
What have the offered you?
I guess it's the £2500 + £500 minus the salvage value of the hull and trailer?