Hull coverage
Agreed value hull insurance for yachts
Agreed value means you and the insurer settle on the vessel's value when the policy begins. In a total loss, that agreed amount is the starting point for payment, subject to policy terms and deductibles.
Why owners ask for it
It avoids depreciation arguments after a loss. It still depends on honest valuation and policy terms.
Questions to ask
- How the value is set and updated at renewal
- What a survey or appraisal must show
- How partial losses are settled
- Whether equipment and tenders are included
Coverage depends on the policy, the insurance company and underwriting approval.
Get my boat quote
Or call (813) 291-3484.
Common questions
Is agreed value the same as replacement cost?
No. Replacement cost and agreed value are different settlement methods. Ask which applies.