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Old    Nick (ndavis03)      Join Date: Jul 2006       03-27-2014, 3:35 PM Reply   
I recently looked over my boat and trailer insurance policy, and noticed my trailer has an insured value of $7,000. It is a 2007 Extreme trailer that came with my Malibu VTX. Just wondering if this may be a little more than needed?
Old    Tim (srock)      Join Date: Mar 2002       04-02-2014, 11:34 AM Reply   
Seven grand seems high.

A separate point of interest. See if you have a stated value to actual value policy.
Old    Nick (ndavis03)      Join Date: Jul 2006       04-02-2014, 12:37 PM Reply   
As I read it, it appears to be stated value. The declarations page specifically indicates agreed values for the boat and trailer.
Old    E.J. (deuce)      Join Date: Mar 2002       04-02-2014, 9:52 PM Reply   
2K on my 2003 DA (can't remember the brand) trailer for 2003 SAN new, has not changed....
Old    Nick (ndavis03)      Join Date: Jul 2006       04-03-2014, 8:53 AM Reply   
Thanks guys. Does anyone know approximately how much a new trailer costs? Something like what I currently have, which is a dual axle with swing away tongue....pretty standard.
Old    Jeff Exum (whatshesaid)      Join Date: Jun 2013       04-03-2014, 10:23 AM Reply   
A new trailer is about $5K, but could get to $7K.
Old    RB (boardman74)      Join Date: Jul 2012       04-03-2014, 12:46 PM Reply   
5K is about right. 7K is to much for a basic trailer. Now if you add rims and all the bling options it might get there.
Old    Nick (ndavis03)      Join Date: Jul 2006       04-03-2014, 12:56 PM Reply   
$5,000 is what I was thinking too. My trailer has LED lights, built-in rear tie-downs, and some upgraded stainless steel swivel tongue. Besides that, it is pretty standard.
Old    Cory D (cadunkle)      Join Date: Jul 2009       04-05-2014, 2:02 PM Reply   
Sounds like a lot if it's just a typical inboard trailer. Mine is at $2500. To get a brand new trailer made would probably closer to $3500 from what I've read but I'm not overly worried about it. Idea is to mitigate catastrophic loss if it's stolen or otherwise totaled. It would have to be something real crazy for me to make a claim. As far as I'm concerned it's to limit out of pocket in a catastrophic damage or total loss scenario, not cover some dock rash, a ripped off fender from a blowout, backing into something and breaking a light or guide pole something stupid like that. If I'm dumb enough to do any of that then I need to man up and spend the time to fix it.

Given the grief I went through changing insurance a while back (just after Sandy and I'm on the east coast) I'm amazed anyone would insure the trailer for $7k. I had a hell of a time either finding a company to do both agreed value and to insure the boat more than ~100 miles from home but finally got them to write an exception. It's like they all thought my old Supra was some million dollar yacht with a bomb hidden on it and waiting to go off any second.
Old    J (Jmorlan)      Join Date: May 2013       04-06-2014, 9:02 AM Reply   
I have ski safe, agreed value on the boat, and $3500 trailer.
I'm sure I could not replace it for $3500, given that I have $1500 wheels and tires on it. I get worried about the wheels being stolen, or someone just taking the entire trailer for the wheels. I've been debating raising the coverage on it because of that.

What deductibles are you guys running?
Old    Nick (ndavis03)      Join Date: Jul 2006       04-07-2014, 9:50 AM Reply   
I ended up lowering it to $5,000. I called my local boat dealer and asked for a ballpark figure on a new trailer similar to the one I have. They said about $4,500.

Cory-I hear you. I've had a few issues with my trailer and decided to get them fixed myself rather than open a claim. I was just trying to find an amount I feel more comfortable with.

J. mo-I currently have Boat US. No deductible on the boat and $250 on the trailer.
Old    Brian L (brianl)      Join Date: Jun 2003       04-07-2014, 12:25 PM Reply   
Good Topic, as I am currently going through an insurance claim on my trailer. My trailer was insured for $2500, which I am finding out was too low to cover it. Even tough you insure a trailer for $2500 doesn't mean you can get "Full value" of your insured amount. BTW I have a 2003 Extreme trailer for my 2003 Malibu VLX.

The insurance company would only provide 80% or the insured value as compensation, which was approx. $1,740.00. My total repairs exceeded that amount and they wanted to total my trailer. But in California, if you have a totaled trailer, they come pick up your trailer and then you are stuck going out on your own to get another trailer. So I negotiated with my insurance company to cover the most they could and I would pay the delta so my trailer doesn't have a salvaged trailer or no trailer at all.

So my best advice would be if you insure your trailer for $5k, keep in mind your insurance company will only cover 80% of that value. Is that enough for your trailer? IDK but I know $2500 was way too low. Good Luck!
Old    Tim (srock)      Join Date: Mar 2002       04-07-2014, 8:00 PM Reply   
Only covering 80%...something is not right.

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