Originally Posted by DJL
My EIS policy through Porthcawl is insured value - no need to worry about valuations.
I'd be checking this very very carefully - if you do have an agreed value policy its like hens teeth for a 'normal' boat . Even for a total loss claim I would expect you to be paying big money , or driving something like HMS victory for any insurer to accept the risk!
I could be wrong - but I was in broking fro several years and never came across any such policy for a normal boat.
If you have can you share the details of who sold it you - we can all get one !
Just looked the EIS marine proposal form (Its a yacht & classic boat prop) . It asks for current market value , not new replacement cost - you could put new value on the form - but its a waste of time - you'll just pay more for the same cover as you would only ever get ' current market value' back ( maximum ) . cant see polciy wording to check for sure . I'd be stunned - but very happy to be proved wrong