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Bertram31.com General Bulletin Board
Re: B31 valuation - beware *LINK*
Posted By: Paul J In Response To: Re: B31 valuation - beware (JP)
Date: Wednesday, 30 November 2005, at 3:16 p.m.
I ran into problems here in South FL last spring when trying to get Market Value insurance on my '73. #1 - Underwriters didn't want any boat over 15 years old. #2 - No one wanted to insure for Market Value, or if they did, the premiums were out of sight. I actually got one annual premium quote that was equal to 10% of the value.
To get proper insurance on these "Classic B31's" try Hagerty. See link. They specialize in classic cars and boats. Be prepared to pay the piper depending on what hurricane zone you're in.
I got a good deal through Jack Martin & Associates. You can see them at http://www.jackmartin.com/.
For now, I am most concerned about liability. As UV says, you're basically placing bets with a bookie. I've decided to maximize my liability insurance and have self insured the value of the boat. Something to think about....
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