Guest TelcoBroker Posted September 22, 2005 Share Posted September 22, 2005 (edited) Hi Raiders, Today I rang GIO to transfer my boat insurance from the Quintrex I just sold to my Bayliner. I was surprised to have them happily transfer the outstanding policy from the outgoing boat to the incoming boat without further costs considering the Bayliner would be valued at a few thousand $$$ more than the Quintrex. My only problem is that GIO require an itemised valuation for the hull, trailer and the motor. To satisfy their requirements I pulled a few figures from up my sleeve but now I am a bit worried that I may have undervalued one item and over valued another. Overall I have insured the boat, motor and trailer for $20k. My main concern is what would the value of a 135hp Mercruiser be worth and also what would an Escort float on trailer be worth? Fortunately GIO HAVE said that I can come back to them with a variation on the valuation breakdown. Suggestions and comments welcomed. Edited September 22, 2005 by TelcoBroker Link to comment Share on other sites More sharing options...
djmac Posted September 22, 2005 Share Posted September 22, 2005 i transfered mine today too. i gave them quotes off the top off my head. you can always change it later Link to comment Share on other sites More sharing options...
Guest Jocool Posted September 22, 2005 Share Posted September 22, 2005 you can always change it later 68413[/snapback] But prefferably before you make any claims. I went through the same thing when I first did my insurance. You need to think about a breakdown that would work for you. For example, your trailer would have to be worth $3K for an equivelant to buy new here in Australia. Bear in mind that the trailer you would get new rather than second hand because they are so rare. The motor, I would hazzard a guess, and say that replacement value would be in the $10K range depending on age. Would the remainder, at $7K cover your hull, electronics and any other accesories that are fitted to the boat? Then again...I could be out with my figures! Link to comment Share on other sites More sharing options...
Guest rzep Posted September 22, 2005 Share Posted September 22, 2005 (edited) Whilst looking around for a boat to purchase I spoke to many marinas in regards to what is a reasonable price to be paying for a boat. One marina was very helpfull and informed me that they had a copy of a price index, similar to what NRMA give for cars, specifing estimated values for trailers, motors and hulls. All I had to give him was the inforamation and he gave me a value that was put on these by some boating place. Was very helpfull and could help you with your valuation. If you want the marina's information just send me a PM. Regards Paul. Edited September 22, 2005 by rzep Link to comment Share on other sites More sharing options...
Guest iain Posted September 22, 2005 Share Posted September 22, 2005 I guessed too. When my restoration is complete I will have to revise the numbers. I think I went $10k motor, $6k hull and $2k trailer. Link to comment Share on other sites More sharing options...
Guest hottuna Posted September 23, 2005 Share Posted September 23, 2005 i transfered mine today too.i gave them quotes off the top off my head. you can always change it later 68413[/snapback] You get a new boat COLIN? Dan Link to comment Share on other sites More sharing options...
djmac Posted September 23, 2005 Share Posted September 23, 2005 hey dan, sure did pick it up tomorrow. seafarer viking 5.5m 98 model will post pics etc later!! Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now