Reply
 
Thread Tools Search this Thread
 
Old 24 April 2014, 09:49   #1
Member
 
maxg's Avatar
 
Country: UK - England
Town: london
Boat name: Yo-Yo
Make: Ribeye
Length: 7m +
Engine: Yamaha 300
Join Date: Nov 2012
Posts: 49
Rib depreciation

My first anniversary is coming up
So is the insurance.
How do you work out boat depreciation?
Is there a rule of thumb?

Thanks for any help.
__________________

__________________
maxg is offline   Reply With Quote
Old 26 April 2014, 06:19   #2
Member
 
moore288's Avatar
 
Country: Denmark
Town: Copenhagen
Make: Ribeye
Length: 6m +
Engine: 115hp OB
Join Date: Jun 2013
Posts: 79
Hi -i Google my boat and see how much they are selling for, seems to vary year to year. Richard
__________________

__________________
moore288 is offline   Reply With Quote
Old 26 April 2014, 08:32   #3
Member
 
Country: UK - England
Town: London
Make: Looking to buy!
Length: 7m +
Join Date: Jun 2011
Posts: 35
Year 1 20% to 30% if heavily used for charter etc.
Year 2 another 5% to 10%
Year 3 another 5% to 10%
And then about 5% year on year.

But again after 10 years I've found ribs and boats in general tend to have a fixed market value and the depreciation is due to Retail Price Index(RPI).
__________________
London_RIB is offline   Reply With Quote
Old 26 April 2014, 17:23   #4
RIBnet supporter
 
Pikey Dave's Avatar
 
Country: UK - England
Town: South Yorks
Boat name: Black Pig
Make: Ribcraft
Length: 5m +
Engine: DF140a
MMSI: 235111389
Join Date: Feb 2008
Posts: 7,584
RIBase
You're better off (imho) finding an insurer that will offer a fixed value, regardless of market value. E.g. if you think your boat is worth 10k you insure it for that amount & pay the appropriate premium. If it's stolen or a total loss, the insurance pays out the agreed value, not the market value.
__________________
Rule#2: Never argue with an idiot. He'll drag you down to his level & then beat you with experience.
Rule#3: Tha' can't educate pork.
Rule#4: See rule#5
Pikey Dave is offline   Reply With Quote
Old 27 April 2014, 08:24   #5
Member
 
moore288's Avatar
 
Country: Denmark
Town: Copenhagen
Make: Ribeye
Length: 6m +
Engine: 115hp OB
Join Date: Jun 2013
Posts: 79
Agree with PikeyDave - that is what I do, hence why I giggle to see what a replacement would cost if the worst happened. Just watch what they actually pay though in the small print. Not all actually pay out the insured amount! Richard
__________________
moore288 is offline   Reply With Quote
Old 27 April 2014, 08:24   #6
Member
 
moore288's Avatar
 
Country: Denmark
Town: Copenhagen
Make: Ribeye
Length: 6m +
Engine: 115hp OB
Join Date: Jun 2013
Posts: 79
Giggle . Google. Whatever :-)
__________________
moore288 is offline   Reply With Quote
Old 28 April 2014, 09:49   #7
Member
 
maxg's Avatar
 
Country: UK - England
Town: london
Boat name: Yo-Yo
Make: Ribeye
Length: 7m +
Engine: Yamaha 300
Join Date: Nov 2012
Posts: 49
I use bing no giggleing ever again.....................

Thanks for the help.

Hmm just need to find a good insurer.
__________________
maxg is offline   Reply With Quote
Old 28 April 2014, 13:05   #8
RIBnet supporter
 
Pikey Dave's Avatar
 
Country: UK - England
Town: South Yorks
Boat name: Black Pig
Make: Ribcraft
Length: 5m +
Engine: DF140a
MMSI: 235111389
Join Date: Feb 2008
Posts: 7,584
RIBase
Quote:
Originally Posted by maxg View Post
I use bing no giggleing ever again.....................

Thanks for the help.

Hmm just need to find a good insurer.
I use Mercia Marine, probably not the cheapest you could find, but you gets what you pays for.
__________________
Rule#2: Never argue with an idiot. He'll drag you down to his level & then beat you with experience.
Rule#3: Tha' can't educate pork.
Rule#4: See rule#5
Pikey Dave is offline   Reply With Quote
Old 28 April 2014, 13:31   #9
Member
 
Exe treme's Avatar
 
Country: UK - England
Town: Exeter
Make: Highfield
Length: 5m +
Engine: Honda BF90
Join Date: Mar 2013
Posts: 272
Quote:
Originally Posted by Pikey Dave View Post

I use Mercia Marine, probably not the cheapest you could find, but you gets what you pays for.
+1 for Mercia Marine. Quality boat insurance and a real person on the other end of the phone!

Although not the cheapest, still very competitive and good bang for your buck!
__________________

__________________
Happy when wet!
Exe treme is offline   Reply With Quote
Reply

Tags
rib

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 11:52.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.