Exactly hence why you should get a survey done and tell the surveyor to not scrimp on it you want the highest value you can get , yes your gonna have to pay a bit more but in the even someting happens bigger $$$ amount back buddy has his boat sink at dock and he got next to nothing for it. very sad....Just because the limit on the boat is $107k, does not mean they will pay that out. Ask them what the maximum you can expect in a total loss claim. they love to insure for whatever you want but at the end of the day it's how much they will give you for it.
Pretty sure you would need comprehensive coverage from ICBC for coverage in the event of lossI have a small, old inexpensive boat. Mine went up 17.6% and then they added a $25 "policy fee" for the first time to bring the total to $520.
I'm confused by the trailer coverage. What happens if I just use ICBC for the trailer and the boat and trailer or just trailer is stolen from storage in Ukee or elsewhere? I always thought the insurance through ICBC for the trailer only covered travel and damage caused by the trailer should it become dislodged from the truck on a road. So I still have both.