20' Seafari Insurance Value

[Capt Terry]

Should I modify my agreed value with GEICO?
In 2017 I insured my 1976 20’ Seafari and 2012 Evinrude ETEC 150 HO with GEICO with an agreed value policy for $12000 and my 1978 Tandem axle Hitchhiker for $500. In the last few years, I have replaced the fuel tank, mechanical steering, replaced all gauges, two new bilge pumps, added Bennett Bolt trim tabs, done a Seacast replacement of the transom, and added a Garmin echomap and Sony blue tooth stereo. The ETEC with only 245 hours on it still looks and performs like new and has only been used in fresh water. With my guessing the hull is worth $4000 and the avg retail of the ETEC is $8645, although I haven’t seen my rates for renewing in June, I am tempted to not tinker with the $12000 agreed value. Comments?