What is it worth?

[Audiofn]

I am having a little bit of a battle with my insurance co. We had an agreed apon value for my boat of 15,000 and they dropped it this year to 10,000. I want them to up it back up but they said that it NADA's for 4,000. Of course NADA does not have a model the same as I have so it is a little hard. At any rate I have a 18 2+3 with a 454 and TRS drive. In very good shape. Some of the ussuall suspect stress cracks but nothing real bad. Boat is a definate runner. New motor that has about 40 hours on it.... This is a originall big block boat and from what I have been told and read on the board it is very collectable. Am I way off base to think that it is worth in the 15,000 range?

Jon

[Lenny]

If you have it professionally appraised, and it comes in close to that, and you are WILLING to pay the monthly premiums based on that number, where is the problem?

Have you had it appraised? If so, where did it come in at? Everything is worth more to the buyer that has to have it. But generally, there is an accepted replacement value for things.

[Audiofn]

I have not had it apraised. I am not sure who could apraise it and know what they are talking about. This I know is one of those boats that you have to find the right buyer for, but I am sure there are a few on the board that would not mind having this thing..... I know with cars there are apraisers that specialize in rare and collectable cars. Does such a thing exist with boats?

Jon

[joel3078]

Look up boat surveyors in your area. A surveyor is kinda like a home inspection company. They will give you a detailed report on the condition of your boat and will help establish the value of the boat. Prepare to pay money for this survey report by the way. I belive is is a couple hundred bucks or so. Take this survey information to the insurance company. You may want to shop around at different insurance companies. Hell, tell your current insurance agent that you are shopping around with other companies. This should help motivate the agent to get you a good rate. Remember insurance agents are salespeople on commision. They do have the ability to change your rate. Especially if you tell the agent you are dropping him/her and going with the competiion.

[TuxedoPk]

Jon,

FWIW I don't think $10k is necessarily undervaluing a good condition big block 18' with TRS. I'm sure its a great boat but unless there is something you didn't mention about it not especially 'collectible'.

I mention this not to knock your boat but to give you some peace of mind that in the event of a total loss you're agreed upon value would give you the ability to go out and replace the boat with an X-18 which is a truly collectible boat.

I believe that you were purchasing more insurance than necessary if you were only looking to be made whole in the event of a loss rather than have a windfall.

There are others here who are more knowlegeable on the value ranges of these boats who might share their concurring or desenting opinions.

[Cuda]

I think if you can get 10k on it, you're doing ok with it. I don't have any insurance on my boats other than liability. If I sink one, I'm just SOL. :embarasse

[marcdups]

Audio, what year model is it, check BUCNET, they are much better on boat values and consider what people are buying it for, any good yacht broker should have the books, or check online @http://www.bucvalu.com/

[Audiofn]

Sorry for not putting in the year :bonk: :bonk: It is a 1981. From what I have been told there were only 8 of these made. Some one on the board was looking for that actuall number but I know that when we had the list of most collectable Donzi's this was like #3 I think?

Jon

[MOP]

NADA only got into the boat biz a few years back and treat boats like cars, I sell boat and also appraise boats for a couple of local banks. You should find a local NAMS or SAMS surveyor to give you an evauation, you can punch in the initials into any seach engine and find a local. Win loose or draw they usualy come very close, they will do the comps correctly not like NADA. I hate NADA and have proven them wrong over 90% of the time they have no damn biz doing boats.

Phil

[Forrest]

Yea, I would love to buy a Donzi for as cheap as NADA says the should go for. But anyway, I have Progressive Insurance on my '77 X-18/TRS for $10K coverage plus $2K on the trailer. No survey required, just pay the premimum, which is less than my car insurance.

[EricG]

Yea, I would love to buy a Donzi for as cheap as NADA says the should go for. But anyway, I have Progressive Insurance on my '77 X-18/TRS for $10K coverage plus $2K on the trailer. No survey required, just pay the premimum, which is less than my car insurance.

FYI, I have always thought I had an agreed value policy. But when I got my Progressive renewal this year, my policy specifically states that it's the LESSER of stated value or Actual Cash Value based on one of the books... My stated value was 10k, incl. trailer...but the NADA value is around 4k + trailer. I asked if they would do an agreed value, but Progressive told me they would NOT. Interesting that they will charge you premium based on a stated value, but then only pay based on the book value... I now know this and am willing to accept it (I'm really more concerned about the liability portion anyway), but others may want to read the policy again. Maybe they do it differently in other states.

EG

EG

[marcdups]

Audio, I have my 18 1994 insured for replacement value and trailer for 2 rand with allstate, but mind you all of our insurance is with all state, 3 vehicles, house and boat, boat ins is $ 480 yr.

[Audiofn]

Boat US agreed to raise it back up. However, with some of the points that have been raised I will have to go back and re-read my policy.

Thanks

Jon