help valuing engine/hull/trailer for nrma insurance ?

[datamile]

I'm looking at nrma for insurance, and got a the following quotes based on $28K value with skier option.

Standard Excess $200
Your Annual Premium Payment (including govt charges) $482.58

Voluntary Excess $500
Your Annual Premium Payment (including govt charges) $395.39

Is nrma good, I can't see any strick rules for theft in the PDS.

I need help valuing the separate parts for the insurance. I paid $27.5 for

2005 STACER 525 EASYRIDER x51 gsp 126,
115HP EVINRUDE DI with 50hrs
REDCO TRAILER

[rayken1938]

I think that they go by the red book. That is what the racq did last year when I was enquireing.
Cheers
Ray

[PADDLES]

as far as i know there's no red book for boats ray. i enquired at racq last year as well and after going through a series of levels of managers they asked if they could return my call when they found out the answer for themselves. they returned it and said that what they actually do is get the assessor to do a bit of research of what your boat is worth in the boat yards in your area and then come up with a figure. this is in the event of a total loss anyway. datamile, i have just gone through this excercise with my new (second hand) boat and
i got the dealer to help me out with some off the record numbers.

[thelump]

Just went through the same thing with QBE. All i did was pick the most expensive bits and see how much they are new then make a educated guess.In your case the motor sells for about11.5k (my mate bought one recently)and the trailer would come in about 2k .That leaves about 13 for the hull and 1 for electrics.Just to give you a few ideas!

[polky]

Datamile when you insure rember the tackle you use, I found to replace 3/4 rods and reels tackle and esky would cost me around $2000, so I included this when insuring my rig.

[honda900]

Mate,

I have recently changed my insurance, all of it, away from NRMA, After a couple of incidents which proved them to be incompetent, Get a quote from CGU, better PDS and support and I saved a couple of hundred dollars a year as well.

Regards
Honda

[rayken1938]

as far as i know there's no red book for boats ray. i enquired at racq last year as well and after going through a series of levels of managers they asked if they could return my call when they found out the answer for themselves. they returned it and said that what they actually do is get the assessor to do a bit of research of what your boat is worth in the boat yards in your area and then come up with a figure. this is in the event of a total loss anyway. datamile, i have just gone through this excercise with my new (second hand) boat and
i got the dealer to help me out with some off the record numbers.

When I asked for a quote they wanted the year and model of the hull, trailer,and motor and extras and they then came up with a quote which I rejected as the then outfit i owned was only 18 months old and they valued it at around 60% of its replacement value. I was told that if I provided an independant valuation they may reacess the quote.
Cheers
Ray
Dont know of it is public access for marine you may have to subcribe for access.This is result of a google search for red book for boats.
Check Car and vehicle prices online with Red Book ... well as wholesale, retail and new prices for Boats and Outboards, plus Trailers.www.redbookasiapacific.com/au/commercial/printproducts.php

[dnej]

NRMA,are agreed value.You put your realistic own value on same,like the lump has indicated,and pay the premium accordingly.
Market value is a depreciated value,and companies pay out on the market price,which is usually low,by comparison,to what you feel it is worth.
David

[Brumby]

Mate,

I have recently changed my insurance, all of it, away from NRMA, After a couple of incidents which proved them to be incompetent, Get a quote from CGU, better PDS and support and I saved a couple of hundred dollars a year as well.

Regards
Honda

Hate to be the bearer of bad news, but both CGU and NRMA are part of the IAG Group, you'll probably end up dealing with the same claims department.

As far as agreed value goes, read your PDS carefully, most policies allow insurers to choose either agreed or market value when they settle - obviously whichever is the lower. It's still worth doing your homework though, if you have a claim you'll be able to argue your point.

[The-easyrider]

You lucky bugger datamile ,you only paid $27.5 I bought the exact same boat but a 2004 modle but cost me $25000

[datamile]

There's a black one for 28K going now at Aus Marine centre, not sure on the hours on the motor, but it had a couple more things than mine.

[PADDLES]

yeah that sounds about right then ray. i asked the question of them because the policy was for agreed or market value whichever is the lesser and i noticed that on my vehicle insurance it states the market value on the policy document but doesn't state a value on the boat policy document.

[northernblue]

I applied with club marine and they want a valuation done in order to have agreed value. The boat is a 23 sharkcat 1982 model.

[Dean1]

I insured my kc with suncorp i found them really good and the cheapest. Anyone else agree with suncorp?? Northernblue arent club marine really expensive?

[ss--ss]

I found gio to be pretty good & i picked a 3 month layoff where it can't be used but will be insured if stolen .. 26k boat insured for around $380 which includes skiers option.