Apart from financing issues, what are the insurance implications? Do they prefer to insure for surveyed value or agreed value? Is there a cost difference in insuring it one way or another? Or do insurers do it either one way or the other, without option?
Very good topic, BTW. There are many implications in any market shift; and some of them are not obvious by any stretch.
I got an Old Fat Boat
She's Slow But Handsome
Hard In The Chine, but Soft In The Transom
I Love Her Well, And She Must Love Me
But I think It's Only For My Money
. ..... Gordon Bok