Premium Question

[Johnboy]

Is there much difference in insurance premiums when a policy has Actual Cash Value or Agreed Value ? Which one of the two is most often purchased ?

[yooper911]

Actual cash value will be less expensive as you will likely get less when you submit a claim. However watch out for the agreed amount wording " actual cash value not to exceede the agreed amount". You are actually better off with a policy that will pay a specific limit if the boat is totaled. Just make sure the limit is adequate and you review it every couple of years.