Boat Insurance

HappyKamper

HappyKamper

Active member
Member
Joined
Oct 23, 2013
RO Number
33487
Messages
242
I had stolen my Northstar 6000i chartplotter, depth finder and wire that connects my chartplotter to my radar. Also damage to helm area.
Does anyone know how the insurance works? My gps was 13 yo and out of production for 10 years. I cannot replace it. The wire that connects to my radar is not available? That makes my other screen useless. Will insurance replace 2 screens and radar? Will they give me current value of missing items? I have NBOA insurance.
Any thoughts?
 
Just guessing here, but thinking they will depreciate your items by their age. I don't know many that were "made whole" by insurance.
 
This is where you need to contact your agent and find out if your policy was written for "replacement" value or "fair market" value. You might get lucky and be able to repair the radar cable. I would also suggest that you contact a marine surveyor or electronics installer who can provide you with an estimate of the helm damage. You'll also have your deductible to pay too. I noticed a vendor at the AC boat show who specialized in dash repair and had plans for a number of boat makes and models. You could find them from the AC boat show website and the vendor attendance list is probably still available.
 
Once you contact insurance, they will send out adjuster to review.
Sometimes they ask a local surveyor to do it.
You can also ask Vinny to provide written estimate.
I can't help you with what they will do, call NBOA, they can tell you what is in policy.
Remember, they are brokers, not agents, so they look to help you. I have always found them honest and fair.
 
You can look on your declaration page. It will likely be actual cash value which would be depreciated. Depreciation does not go all the way down to zero. But how much is your deductible? It's very unlikely that they will pay the full replacement cost to install all new 2018 electronics. The damage to the fiberglass and gel coat should be completely covered but also subject to the deductible. Shame that anything was dmaged. No need for that. Why would someone steal such old equipment though? Although none of that is in production, it may be available on ebay. Certainly the 6000 will be.
 
quote:
Originally posted by MichaelNJ

You can look on your declaration page. It will likely be actual cash value which would be depreciated. Depreciation does not go all the way down to zero. But how much is your deductible? It's very unlikely that they will pay the full replacement cost to install all new 2018 electronics. The damage to the fiberglass and gel coat should be completely covered but also subject to the deductible. Shame that anything was dmaged. No need for that. Why would someone steal such old equipment though? Although none of that is in production, it may be available on ebay. Certainly the 6000 will be.

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The 6000i is available on ebay but, they all have issues. My unit didn't have any issues. The tough part is the cable they took. That cable is no where to be found.
I have started collecting estimates today.
Electronics- It snowballs
Fiberglass repair- very little
Dash panel replacement- I figure on doing all of them. A new panel will not match the other existing.
 
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