"Capt. Rob" wrote in message
oups.com...
Valuation of property according to the cost of replacing it with
property of
a like kind and quality; the cost to replace property at its current
price
with no deduction for depreciation.


We're insured for the fair market value. It helped that the previous
survey listed her value at 68K and that was before things like A/C and
canvas were added. The big problem was that several insurance companies
had freezes in effect for Florida. Insurance was 980.00 per year with a
750 deductable. I felt that was high, but hey, it's NY. On the C&C we
only paid 650 per year.

RB
35s5
NY

Why not insure it for replacement cost?

If you lost the thing, you can buy a real big boat with the proceeds.

Think of the troll value! You would be unstoppable then!

Amen!