To save lots of trouble it is better to get an "agreed value" policy. Agreed value means that is the amount that the insurance company will pay on a total loss. If you have a policy that says agreed value and they try to knock down what they will pay you then point to the policy and say, "you agreed to this value when you wrote the policy, and this is what I have been paying premimums for". They will pay the price. The big problem with replacement value is that it varies so widely with condition and is subject to much argument. michael wsteffen_at_skypoint.com wrote: > > At 08:43 AM 10/1/98 EDT, JCMARTIN43_at_aol.com wrote: > It is insured for "replacement" value. Right now the boats replacement > value is the same as its original value, but a few years down the road they > would never give me $2700 for it, so I will reduce the policy coverage > accordingly. Best to err on the high side though. *************************************************************************** PaddleWise Paddling Mailing List Submissions: paddlewise_at_lists.intelenet.net Subscriptions: paddlewise-request_at_lists.intelenet.net Website: http://www.gasp-seakayak.net/paddlewise/ ***************************************************************************
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