Wow, I opened a can of worms when I suggested that I was pleased with my insurance coverage, with Progressive Insurance Companies, and the cost of that coverage. Although I have an Actual Cash Value coverage policy, I feel comfortable with that. As Charles Culotta notes, after a loss, owners and their insurers can't agree on the time of day. However, let me describe the circumstances under which I obtained the policy and see if that is a factor, in why I feel comfortable with my policy and its coverage. I sought insurance quotes from about 8 different companies. I liked Progressive's quotes and dealing with my agent. I requested coverage of a specific amount, as I believe in co-insurance. (I am not going into the actual values for my policy as that is a private matter, and I am only willing to disclose this off-line to anyone that wants to call me.) Per usual, they requested a survey. I hope anyone reading this understands that there are different kinds of surveys. For example, a Purchase or Pre-Purchase Survey focuses on the value of the vessel as it pertains to a potential lender. A typical Insurance Survey will emphasize the physical characteristics and conditions of the hull and machinery. I chose to prepare and submit, a full Condition & Value Survey, also known as a C&V in the industry. The company agreed to a binder when I told them it would take quite a bit of time to prepare. All in all, I probably spent a month in gathering the information BEFORE I actually closed on the boat, and when it was finished, a month after buying the boat, and delivered to the insurance company, it was a 20 page volume and then had about 20 additional photos. A good C&V is very comprehensive, right down to the brand, model number, and serial number of each item on the boat and its condition. I did most of the work, but had a third party surveyor sign off on this package. Also, since the boat had been on the hard for 6 years, and needed a lot of work, I agreed to send regular supplements and updates to the C&V to correct problems identified in the survey, which fell into the categories of: Problems that had to be corrected, and Suggestions for potential problems. There have been four additional updates to the original C&V in order to attest to the fixes that were made and to reflect about $30.000 worth of upgrades! The C&V always contains an Economic Analysis section, in which the surveyor estimates the market value of the vessel. He uses actual experience, market data, includes BUC and NADA values (worthless), etc. This section of my survey was very complete since I am an economist by profession! The Actual Cash Value of coverage was chosen by Progressive's underwriters. It was for more money than I thought the boat was worth, and it was for more money than I paid for the boat. However, it was not an inflated amount that could have been a setup for insurance fraud. Again, it was the Progressive company that increased the ACV for this renewal period, perhaps as a result of the four updates to the C&V, or perhaps due to inflation. I don't have the answer to that question. However, I do know that if we ever have a dispute as to ACV for the total loss, and we go into a court of law, my claim should be supported since THEY set the ACV. So you see, I believe them when they say they will pay me the full ACV less my deductible of $1,000. Thanks to all of you for your suggestions. I am in the process of reviewing my policy endorsements carefully. I agree that any policy that does not have Wreckage Removal or Fuel Spill Liability should be avoided, as these constitute major liability for anyone cruising the Florida keys and other marine sanctuaries. Martin I. Veiner 1825 Bridgemont Trail, Tallahassee, FL 32312-3623 Tel: 850-907-9969; Cel: 850-559-1766 Email: veiner@juno.com ________________________________________________________________ The best thing to hit the internet in years - Juno SpeedBand! Surf the web up to FIVE TIMES FASTER! Only $14.95/ month - visit www.juno.com to sign up today!