Of course, I had to read further to make sure. As near as I can tell even without the
"premier endorsement" my mast would be covered in full. Canvas and outboards depreciate
after 5 years, "Internal machinery" after 10. Rigging was not mentioned and is therefore
covered fully under an "all risks" policy.

Boat/US does offer a Basic, No Frills policy where they say up front that everything is
depreciated. Sounds like RB's friends gambled and lost.

http://www.boatus.com/insurance/policy.htm




"Jeff Morris" jeffmo@NoSpam-sv-lokiDOTcom wrote in message
...
So you're saying that your friend didn't pay the modest extra charge for the
"Depreciation
Waiver." My insurance says:

"We will pay the reasonable cost of repair or replacement of the damaged item at the
time
of loss without deduction for depreciation."

If you choose not to repair, they will only pay the depreciated value.

Later they add: "Depreciation Waiver will not apply to boats after the fifteenth year
from
the time of manufacture."

As far as I know, depreciation is standard with all boat insurance. Boat/US, however
offers the waiver as part of the "premier" endorsement, which adds a variety of useful
things, like small deductibles for electronics and dinghy theft,


"Bobsprit" wrote in message
...
So why is it that every time this issue comes up (usually on
rec.boats.cruising) that the
unanimous opinion is the Boat/US is good insurance.

Jeff, if you're serious about this, e-mail me off list and I'll explain how
BoatUS depreciates gear for claims worse than any other insurance co. For
instance, if you lose your mast, BoatUS won't pay for it unless it's less than
7-10 years old. This happened to the fellow who bought my friends Typhoon after
a powerboat hit it. It also happened to my friend with a Tartan 33. They are
the worst unless you lose the boat entirely.

RB