One of my colleagues broke a mast recently and, on contacting his insurance company, was initially told that the claim for a new mast (£1000) would not be met as the market value of the whole boat (ie the value before the mast broke) was less than £1000!!! I don't know about yours, but that certainly describes my Laser 2!
Anyway, he sucessfully argued that the policy wording did not explain that, and has had his claim accepted but, if you might be in a similar boat, it might be worth checking with your insurance company at renewal time, and getting an answer in writing ;)
