In article ,
"Denis Marier" wrote:

The insurance brokers like the evaluation produced by the surveyor so
they can ask to have your boat insure accordingly. When time comes to
replace your boat they will only pay what the real market value is. A
good example of this is one of my friend was involved in a big storm
and his boat sunk on the eastern coast. His 1970 Grampion 30 was
insured for $45000. What he got from his insurance company is half of
that amount.


Then he had the wrong type of insurance. In the case of a total loss, a
proper marine policy payment will be based upon the *agreed-upon* survey
value. There will be deductibles and such, of course. I didn't insure
with my home/auto company because of things like that, though my broker
is a sailor.

--
Jere Lull
Xan-a-Deux ('73 Tanzer 28 #4 out of Tolchester, MD)
Xan's Pages: http://members.dca.net/jerelull/X-Main.html
Our BVI FAQs (290+ pics) http://homepage.mac.com/jerelull/BVI/