Fair deal??

[BobA]

A couple of weeks ago some b*****d nicked my Mariner 4hp outboard (2seasons old)from a locked yard, it was properly secured to the boat with lock etc.
Don't worry says SWMBO it's insured - so duly put in a claim and reported theft to Marine unit of local police.
Get an email yesterday from insurance company saying that it is covered by the terms and conditions of policy and offerred £350 less excess as normal.
The issue is - that to replace it like for like is going to cost me the best part of £550. /forums/images/graemlins/mad.gif

Am i getting my leg lifted and should i go back to them and 'suggest' a settlement more in the region of £450 less excess.

Bob

 

[rodwhite]

never accept insurers first offer - say they are not being fair -quote some realistic prices

 

[Birdseye]

Obviously your policy isnt "new for old" so you need to look at the price of 2 year old engines. £550 new would be something like £350 / 400 2 byear old at a guess. So haggle as best you can but you're not being ripped off IMHO .

 

[jonathankent]

How much have you actually insured the engine for?

 

[BobA]

It is insured with the boat - boat, engine(s), dinghy, kit etc. all included in insured value of 20K

 

[Omatako]

Agree with Birdseye, you're not being ripped off.

Very few policies will contain a new for old condition and there will always be a consideration for "betterment". And actually when you think about it, the motor is two years old, it's probably unreasonable to expect it to be replaced with a new one.

But what the heck, give it a whirl.