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Old 07-30-2021, 10:27 AM
Rocketboy's Avatar
Rocketboy Rocketboy is offline
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Boat: 1993 S&S 190 w/LT1
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1993 Stars and Stripes- LT1

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I talked to my insurance company with all of the crazy prices to see what I am covered for. I am covered at book value. That comes in at $13,400 but I am thinking it is worth a little more than that.

1993 MC S&S with LT1 (Red)
upgraded stereo but not a lake rocker!
Speed Control (PP)
All new interior & Carpet
Heated seats
Heater
885 hours

What would the price be on this boat today. I just want to make sure I am covered.

Thanks
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  #2  
Old 07-30-2021, 10:33 AM
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ddismuke ddismuke is offline
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Boat: NXT20, 2017, Ilmor
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Maybe 15k bc of the desired ski hull but pretty spot on to insure it for payout. U can always up the value and pay a higher premium.

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  #3  
Old 07-30-2021, 10:49 AM
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waterlogged882 waterlogged882 is offline
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Boat: 93 190
Location: lake
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Quote:
Originally Posted by Rocketboy View Post
Group-

I talked to my insurance company with all of the crazy prices to see what I am covered for. I am covered at book value. That comes in at $13,400 but I am thinking it is worth a little more than that.

1993 MC S&S with LT1 (Red)
upgraded stereo but not a lake rocker!
Speed Control (PP)
All new interior & Carpet
Heated seats
Heater
885 hours

What would the price be on this boat today. I just want to make sure I am covered.

Thanks
I'd say they are pretty close with the insurance value. They do not care about panic buyers and greedy sellers. Nor how well it skis (I too have a nice skier in the 93 model).

I saw a 93 stars for sale just today for $US25K. Made me laugh a little but each to their own. Market value is market value regardless of circumstances.

I paid 12K for mine in 12, have put another 14K into it, and still worth only market value, typically what one is willing to pay.

You should consider selling the LT-1, forego the new prop, and buy that speed boat I showed you.

.
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  #4  
Old 07-30-2021, 02:10 PM
Rocketboy's Avatar
Rocketboy Rocketboy is offline
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Join Date: Jan 2016
Boat: 1993 S&S 190 w/LT1
Location: Midwest
Posts: 837
Quote:
Originally Posted by waterlogged882 View Post
I'd say they are pretty close with the insurance value. They do not care about panic buyers and greedy sellers. Nor how well it skis (I too have a nice skier in the 93 model).

I saw a 93 stars for sale just today for $US25K. Made me laugh a little but each to their own. Market value is market value regardless of circumstances.

I paid 12K for mine in 12, have put another 14K into it, and still worth only market value, typically what one is willing to pay.

You should consider selling the LT-1, forego the new prop, and buy that speed boat I showed you.

.

I am keeping this boat!!

We just had a big storm here and docks lifts and boats were upside down all over the one lake. If that would happen to me and I need to try and replace- with the crazy market............. It is going to cost more than book.
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  #5  
Old 07-30-2021, 04:59 PM
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bret bret is offline
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Join Date: Aug 2004
Boat: Prostar 190, 1993, Anniversary Limited.
Location: Heber Springs, AR
Posts: 1,707
Just up your coverage, it shouldn't be that much for a few thousand more. I've got $18k on the Limited for $382/yr.
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  #6  
Old 08-02-2021, 10:15 AM
88 PS190 88 PS190 is offline
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Quote:
Originally Posted by bret View Post
Just up your coverage, it shouldn't be that much for a few thousand more. I've got $18k on the Limited for $382/yr.
Make sure that is a true agreed value plan and not a stated value plan. Too many insurance companies will let you say my boat is worth 25K - then when you file a claim they may ask for you to prove the actual cash value of the boat in which case they will want proof of what you paid and will pay the lower of the stated value vs. that actual value. Which is a lose lose - you paid more for coverage that you didn't actually have and then got boned.

Typically on a true agreed value plan they will want to have either an inspection, some proof of cost etc. Which right now if you sent them proof of these boats costing 25K and get the actual policy written as a true agreed value with them - then rock and roll.
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