[Angelina]

Hello
My husband & I are new owners of a 1998 Mariah z202 I just looked under the hood it said 350 MAG mercruiser, the information I need if anyones knows is what is the horsepower, value of the motor, and the boat, & the trailer ( 1998 prestige model # CMTBTZ202. We need this information for insurance. We are obviously new to boating any info on this boat would be greatly appreciated.

[ColoradoDiablo]

Welcome to MOC Angelina
Nice to here from another new Mariah owner.
If you go to nada.com and look in the boat section , they can give you a round about worth of the boat and trailer. I for one feel they are a tad low in their estimates.
I insured my 93 Diablo and trailer for 7500.00. According to them it is not worth anywhere near that , but it is to me.
I believe the MAG for 98 is right at 300hp , but don't hold me to it.

Once again ,
Welcome!!

[Dozer]

My boat insurance uses an agreed upon value for the boat. If you had to have another trailer made it would be around $2500 in my area. ( upstate NY)

[mikeyt]

Just insure it for what you paid for it plus the amount of your policy deductible unless you believe you got it at a very good price. That way you aren't out any $$ if its written off in the near future and you are not overpaying for insurance cuz there is no advantage in doing so. Unless you have paid the little extra cost for an Agreed Value policy, the insurers will simply check the marketplace and NADA to establish a value if the boat is ever written off. And, you can do the same if you feel their value is low. Note also that an Agreed Value policy is just that. If something appreciates, the previously agreed value is what you get. I'm not sure of the US rules Dozer. Do they require an appraisal on a regular basis for Agreed Value? Maybe Paul F will chime in here too.

[Dozer]

No appraisal for the policy. Here in New York that is. Also there isn't an up charge for that policy. Boats around here usually go well above the NADA or book value.

[ColoradoDiablo]

I hate this subject LOL ,
The only thing I have done is send pics of the boat to the Insurance Company.
I doubt my Diablos' value will ever increase more than what I have agreed upon with them.
If it was to for some unknown reason , then I'd simply change the policy.
JMO

[mikeyt]

Originally Posted by Dozer

No appraisal for the policy. Here in New York that is. Also there isn't an up charge for that policy. Boats around here usually go well above the NADA or book value.

There is an 'upcharge' for Agreed Value policies but you dont see it. The insurer simply includes it in their pricing as if there weren't. That way it doesn't look like you are paying extra for the 'extra' coverage... Did they require an appraisal when you first bought the policy? How did you/they arrive at the agreed value?

[Dozer]

Nope. No appraisal at all. I called my agent and told him what I have, told him what I paid. He asked about the engine and he wrote the policy. The value is based on what I paid although I could have given him any amount. I never had to give proof of the amount paid.

[mikeyt]

Originally Posted by Dozer

Nope. No appraisal at all. I called my agent and told him what I have, told him what I paid. He asked about the engine and he wrote the policy. The value is based on what I paid although I could have given him any amount. I never had to give proof of the amount paid.

Strange stuff. You are absolutely certain that you have an 'Agreed Value" policy and not just a policy that insures you up to the agreed value? There is a significant difference there in those two policies. If what you say is accurate, many people would state a far higher amount, pay the premium for it and then have a little 'accident' to claim the insurance policy value, then go out and upgrade their boat and do it all over again....

[Dozer]

Haha. Thought about that. My policy is for sure an agreed upon value. Thought about upping it just in case. I carry higher liability coverages so I'd rather not pay the higher premium. Policy is through Progressive. Really not bad compared to the auto policies around here.