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#12574067 - 01/11/18 01:58 PM What is agreed value?
BrazosRiverTom Offline
Pro Angler

Registered: 12/15/12
Posts: 577
Loc: Mineral Wells, TX
While filing out a quote online, I put the value for my 1978 Ranger and 1981 Evinrude 115hp (which in the condition it is in is a very good value) at 1800. The quote came back with
Policy coverages:

Liability (BI/PD) $100,000 person/$300,000 accident/$50,000 property damage
Uninsured Boater $100,000 person/$300,000 accident
Medical Payments $2,500 each person
Fishing Equipment $1,000 ($250 deductible)

Vehicle coverages for 1981 Ranger 16 Bass Boat

Physical Damage Options Agreed Value
Comprehensive $250 deductible (Agreed value)
Comprehensive Named Storm Deductible $500
Collision $250 deductible (Agreed Value)
Disappearing Deductibles Selected
Sign & Glide® On-Water Towing Selected
Coastal Navigation 75 Nautical Miles
Replacement Cost Personal Effects $3,000
Roadside Assistance No coverage

Is the agreed value the 1800 I valued it at?
If so the above seems like a pretty good deal to me.

Thanks for any advice.

#12575607 - 01/12/18 12:58 PM Re: What is agreed value? [Re: BrazosRiverTom]
nitroslim Offline
Extreme Angler

Registered: 06/30/07
Posts: 1742
Loc: Ft. worth
I would ask your agent, but the policy itself should define the term. Be sure to look for a Texas Changes form, which could be on the policy, depending on what the carrier is using.

#12575794 - 01/12/18 03:10 PM Re: What is agreed value? [Re: BrazosRiverTom]
Insurancepro Offline

Registered: 01/23/09
Posts: 167
Tom, If you want me to help you with this just give me a call. I have been able to help a lot of the members here to better understand marine insurance. Thanks Bob Luellen 517-627-8080

#12578648 - 01/14/18 06:38 PM Re: What is agreed value? [Re: BrazosRiverTom]
psycho0819 Offline
Extreme Angler

Registered: 03/27/05
Posts: 1531
Loc: Kaufman
Call Bob, he's a great guy to do business with. He'll fix you up.
If you're not living on the edge, you're taking up too much space!

#12580067 - 01/15/18 04:53 PM Re: What is agreed value? [Re: BrazosRiverTom]
Insurancepro Offline

Registered: 01/23/09
Posts: 167
Agreed value is a agreement between the insurance company and the insured as to the value. In the event of a total loss. This is the amount you should receive. There are a lot of other things you should be concerned with. A lot of companies have depreciation on partial loss. With the age of this boat that would be a huge concern. Thanks Bob Luellen


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