BWCA Insurance: Placing a value on your strip boat Boundary Waters Group Forum: Boat Builders and Repair
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      Insurance: Placing a value on your strip boat     

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HighPlainsDrifter
distinguished member(2365)distinguished memberdistinguished memberdistinguished memberdistinguished member
  
08/17/2011 11:57AM  
I wanted to insure my Merlin, so I called my State Farm agent. When I said that the boat was handmade, the questions started. One question really irked me when he asked if there was a knowledgeable person who could put a value on my canoe...... I said, "in Brookings, I think not"

I was seeing red and read him "the riot act". Finally I cooled down, and showed him WEB sites that had prices for cedar strip canoes kits (BearMountain being one).

I also parked my canoe in front of his office and for once (since I have had this agent), he listened to me rather than talking "at me"

So, the question, how do you put a price tag on something that was built with a fair amount of blood (real blood), sweat, and occasional tear (sawdust in my eye). Anyway, I insured it for 3K.
 
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Woods Walker
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08/17/2011 07:01PM  
Mine could not be replaced at any price, I built it myself with my son & will probably never build another. $3000 would buy another cedar strip, but it wouldn't be the same. I agree, how do you put a value on the pride & achievement of paddling a canoe that you built yourself.
 
08/17/2011 11:13PM  
I hear what you're saying. I think $3k is a good number for insurance purposes.

American Trader
 
08/18/2011 10:15AM  
HPD,

Just wondering, if you did not insure it and it were stolen, would it be covered under your homeowners insurance?

JD
 
bcon2011
member (33)member
  
10/13/2011 05:06PM  
I would agree that 3,000 would be a fair assessment. Some are better than others (my daughter built one, and also lives in Brookings by the way) and I know she would not dream of selling it for less than that, although I'm guessing there is no way to really "replace" one.

 
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