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Jan 23rd, 2013
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What is agreed value? #12574067
01/11/18 07:58 PM
01/11/18 07:58 PM
Joined: Dec 2012
Posts: 675
Mineral Wells, TX
B
BrazosRiverTom Offline OP
Pro Angler
BrazosRiverTom  Offline OP
Pro Angler
B

Joined: Dec 2012
Posts: 675
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.

Re: What is agreed value? [Re: BrazosRiverTom] #12575607
01/12/18 06:58 PM
01/12/18 06:58 PM
Joined: Jul 2007
Posts: 1,864
Ft. worth
N
nitroslim Offline
Extreme Angler
nitroslim  Offline
Extreme Angler
N

Joined: Jul 2007
Posts: 1,864
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.

Re: What is agreed value? [Re: BrazosRiverTom] #12575794
01/12/18 09:10 PM
01/12/18 09:10 PM
Joined: Jan 2009
Posts: 170
Insurancepro Offline
Outdoorsman
Insurancepro  Offline
Outdoorsman

Joined: Jan 2009
Posts: 170
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

Re: What is agreed value? [Re: BrazosRiverTom] #12578648
01/15/18 12:38 AM
01/15/18 12:38 AM
Joined: Mar 2005
Posts: 1,570
Kaufman
P
psycho0819 Offline
Extreme Angler
psycho0819  Offline
Extreme Angler
P

Joined: Mar 2005
Posts: 1,570
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!
Re: What is agreed value? [Re: BrazosRiverTom] #12580067
01/15/18 10:53 PM
01/15/18 10:53 PM
Joined: Jan 2009
Posts: 170
Insurancepro Offline
Outdoorsman
Insurancepro  Offline
Outdoorsman

Joined: Jan 2009
Posts: 170
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

Re: What is agreed value? [Re: BrazosRiverTom] #12598778
01/28/18 03:36 PM
01/28/18 03:36 PM
Joined: Jun 2012
Posts: 489
Odessa Tx
Mr. Greensides Offline
Angler
Mr. Greensides  Offline
Angler

Joined: Jun 2012
Posts: 489
Odessa Tx
BOB! I went with you last spring, Haven't needed you since the day we did business. I don't see or hear from you but I trust you are riding along w me. I should have a bill coming up.
Hope you are well!

Re: What is agreed value? [Re: BrazosRiverTom] #12600182
01/29/18 04:47 PM
01/29/18 04:47 PM
Joined: Jan 2009
Posts: 170
Insurancepro Offline
Outdoorsman
Insurancepro  Offline
Outdoorsman

Joined: Jan 2009
Posts: 170
I'm just getting old. Thanks for checking.

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