Guides
Read the settlement definition before comparing figures
Ask what the policy means by agreed value or market value and how that basis applies to a total loss. A requested amount on an application is not necessarily an agreed contractual amount. Read the final schedule with the wording and endorsements. Do not assume two quotes displaying the same number use the same settlement method or deductions.
Use comparable evidence for the complete boat
Prepare evidence relevant to the model, year, condition, configuration and market. Distinguish asking prices from completed-sale evidence where available and explain significant differences. A complete-boat figure can already reflect the engine, rig and electronics. Adding their individual replacement prices again can double count value rather than strengthen the case for the requested amount.
Keep partial loss and separate limits visible
An agreed total-loss amount does not necessarily remove partial-loss depreciation, betterment or individual item limits. Ask about tender, outboard and personal effects independently. For imported or modified boats, explain the valuation evidence without assuming freight, duties or every upgrade invoice is automatically recoverable. Record the insurer's basis and outstanding valuation requirements in the comparison worksheet.
Documents and questions to prepare
- Written total-loss settlement definition.
- Evidence supporting the complete-boat amount.
- Equipment already included in that baseline.
- Separate item limits and partial-loss deductions.
Worked ownership scenario
An owner values the complete catamaran at $300,000 using relevant evidence, then considers adding $40,000 for equipment already reflected in that figure. The owner instead reconciles the inventory and asks which items have separate limits. The numbers are illustrative; the exercise avoids double counting rather than estimating market value.
Turn the guide into a written insurance brief
Keep the relevant photographs, invoices, reports and correspondence together. Separate facts you can document from questions that remain unresolved. When requesting a decision, identify the vessel, the intended activity and the exact policy term you need clarified. Record who replied, when the response applies and whether an endorsement is required; a general brochure statement may not answer the specific question.
Record the policy wording and unanswered questions
Use the comparison worksheet to keep each requirement beside its document reference. Leave an item unresolved until the insurer has answered it.
Frequently asked questions
Is agreed value always better for every catamaran owner?
This guide does not make that recommendation. Compare the definitions, conditions, exclusions, deductions and price for your requirements rather than deciding from the label alone.
Does the sum insured calculator provide a market appraisal?
No. It organises your evidence and amounts. Obtain the valuation support required by the insurer and do not treat the worksheet as a professional appraisal.
Sources and scope
Manufacturer links support identification and design context. Australian insurer document libraries are starting points for checking policy wording, not evidence of acceptance of this boat or activity. The checklists and examples are editorial guidance. Use the PDS version, schedule and endorsements that apply to your own policy; this guide does not rank insurers or provide an individual insurance recommendation.
Related guides
- Catamaran Insurance Guides by Brand, Model and Topic
- Boat Sum Insured Calculator
- Boat Insurance Cost Comparison Calculator
- Catamaran Insurance Cost Australia: Factors and Quotes
- Boat Insurance Quote Preparation Checklist
- Lagoon 400 Insurance Australia
- Catamaran Partial-Loss Depreciation and Betterment