RT 25SC VALUE

[portlandtug25]

Hello All,

Does anyone know where to get a reasonably accurate value on a 2015 RT25 SC for insurance purposes. Thinking of going with a different insurer. Premiums keep going up more than I think they should. What else is new, huh?

Thanks

 

[it4llc]

https://www.nadaguides.com/Boats/2015/Ranger-Tugs

 

[scross]

It really depends on the options and condition of the boat. That said, the two 2015-2016 R25 SC’s listed on yachtworld right now (one with trailer, one without) are listed at $119,500 and $119,900. I wouldn’t want to under insure - the premiums don’t seem to change much for a $5-10k difference in stated value.

 

[knotflying]

Another thing to consider when insuring: Most insurance policies are offered at a depreciated market value less your deductible. This can be considerably less than what it would cost to buy a similar boat. I always get "Agreed replacement Value". You set the price, as long as it is not ridiculously high, and that is what you will get, less deductible, on a complete loss. This will most likely increase the premium, but you will not be going through hell negotiating a higher settlement with the insurer if you really want a fair value for the loss. You also want to make sure you have consequential damage coverage. This is a more likely occurrence. For example if the boat sinks because your bilge pump failed, that is consequential damage. So the moral of the story is premium pricing should be done with detailed comparison and not just by the bottom dollar cost. My experience has been to shop insurance as soon as the premium starts going up and I found that Progressive is a good competitor.

 

[Rocky]

My suggestion -
Call Holly Tillotson at Global. She works with a lot of Ranger Tugs. She will give you straight answers on insurance questions. She saved me hundreds per year when my previous insurer raised rates for what appeared to be no reason,

htillotson@globalmarineinsurance.com

Best of luck. This is a frustrating subject.

Rocky

 

[knotflying]

My suggestion -
Call Holly Tillotson at Global. She works with a lot of Ranger Tugs. She will give you straight answers on insurance questions. She saved me hundreds per year when my previous insurer raised rates for what appeared to be no reason,

htillotson@globalmarineinsurance.com

Best of luck. This is a frustrating subject.

Rocky

For me Global was good on price and service when I switched from Progressive. Then after two years the premium price went sky hi and their response time deteriorated. I shopped again and low & behold Progressive was competitive again. Keep in mind Global is a broker and placed me with Geico. Boat US uses Geico. When I decided to shop the Insurance I could not get a quote from Boat US/Geico. Their system protects the broker. The moral of the story is shop your insurance, switch if it makes sense. Make sure you are comparing apples to apples. Make sure the company you choose is reputable.

 

[GaylesFaerie]

I had a similar experience with GEICO being quite expensive and I ended up going with Progressive at reasonable rates. GF