Insuring Old Boats

Terms of depreciation waivers are getting tighter.

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Editor’s note: Our recent article on marine insurance (see “Consequential DamageCoverage,” PS Jan. 2020) prompted many questions from readers regarding insurance for older boats. For answers, we turned to Mark Pellerin of BoatUS Marine Insurance Program (underwrittenby GEICO), who, in addition to answering these questions, offered this updateon changes in its depreciation terms. Depreciation and other policy details can vary greatly, so […]
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