Vehicle insurance is a monopoly, because it is a legal requirement, Boat insurance in the UK is NOT a legal requirement, and one of the first benefits you notice is an agreed valuation, in the event of a total loss claim they pay, in most cases the purchase price and any upgrades you may have undertaken,allowing you to replace your vessel on a like for like basis, vehicle insurance by stark contrast pays what the insurer deems to be the market value and most of the time uses "trade" values not retail values, having said that I note some vehicle insurers now offer a replacement vehicle, or pay more towards an upgrade, but this is not common practice.
The car insurance industry is like swimming with sharks, you know you MUST go into the water, no matter how one sided.
