1999 Bav 35E. $780 USD here in Seattle, Washington. Liability and loss to the stated value, but 10% per year from 20th year in service as a reduction in payout on partial damage claims. So if a claim were 20k, they'd reduce it by 2k b/c we are in the 20th year from production/service of the boat.
Even though the policy just renewed, I will be shopping for another that doesn't deduct 10% per year on payouts representing depreciation for an older boat. It's interesting that the insurer doesn't depreciate the full amount if it were a total write off, only for amounts less than that. I'd like to be enlightened as to the logic of that. We've been lucky, though, in that the premium has been steady for the past 3 years even considering we had a claim.
