Insure boat for what I paid? Or what it would cost to replace new?

I paid very minimal for my 94 Ranger, but I'm insuring it for 40K. Is this a good idea in case of total loss or am I just wasting my money on the higher premium?

I'd ask the insurance company but they'll just say what's in their best interest = money.

Thanks,

Justin

Justin, I think you better find out what kind of policy you have. If you have a Actual Cash Value policy. The insurance company will only pay you what the current value is. Even though they are charging you for the $40,000 premium. I will be happy to go over your options with you. I have been able to help a lot of members here to better understand what kind of coverage's are available and what are best. I will be happy to help you in any way I can. Please feel free to give me a call' Thanks Bob Luellen 800-339-1235