The amount of protection you get is completely up to you and what makes sense for your lifestyle. To start building your policy we offer two main ways to protect your boat/watercraft. They are called actual cash value and agreed value.
Here’s how it works:
Actual cash value means that we’ll cover the replacement cost of your boat, minus depreciation for its age and condition.
Agreed value means that you and you and American Family will agree on the value of your vessel based on an appraisal. In the event of a total loss, you’ll be paid that pre-determined amount. Agreed value policies also pay to repair, rebuild, or replace the necessary parts of damaged property for a partial loss, without any deduction for depreciation.
Not sure what makes sense for you? Your agent is the perfect person to help you decide.