| www.iFourWinns.com https://www.smwebhead.com/phpBB3/ |
|
| GAP INSURANCE https://www.smwebhead.com/phpBB3/viewtopic.php?f=2&t=5522 |
Page 1 of 1 |
| Author: | calvinhead [ Tue May 04, 2010 8:09 am ] |
| Post subject: | GAP INSURANCE |
Since boat values have taken a beating the past couple of years the "actual cash value" of my Horizon 220 is much less than what I owe on the boat. Has anyone purchased "GAP" insurance or have opinions on whether or not this is a good idea? Thanks! |
|
| Author: | Txjole2 [ Tue May 04, 2010 8:56 am ] |
| Post subject: | Re: GAP INSURANCE |
A boat in ANY economy should NEVER be insured at actual cash value. In marine insurance its called agree value instead of gap. If you have an actual cash policy I would change to actual cash value YESTERDAY. |
|
| Author: | aguyindallas [ Tue May 04, 2010 10:29 am ] |
| Post subject: | Re: GAP INSURANCE |
Txjole2 wrote: A boat in ANY economy should NEVER be insured at actual cash value. In marine insurance its called agree value instead of gap. If you have an actual cash policy I would change to actual cash value YESTERDAY. Joe is right and in most states/cases, you cannot just go buy a GAP policy...it has to be done at the time your boat was financed. Agreed value is the ONLY way to go. |
|
| Page 1 of 1 | All times are UTC - 6 hours [ DST ] |
| Powered by phpBB® Forum Software © phpBB Group http://www.phpbb.com/ |
|