It is a little different with all companies. Most companies will do an ACV policy, just like automobiles. However, some offer a “stated amount” or replacement cost policy. Some companies like mine do an ACV policy with a “repair cost” endorsment that will make sure there isnt any depreciation on damages. But, that is usually only on boats that are 10 years old or newer. It all goes back to finding a good agent who explains their policies to you and you know you can trust. Progressive sells a good policy as long as you buy it from the right individual who sells you the proper coverages. There are several companies that offer a good policy. Pick the person you buy from carefully!
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