Insurance

[TBarCYa]

I'm buying a new boat and am looking into insurance and have gotten quotes that vary wildly. The difference from high to low is over $100/yr. I've narrowed it down to either SeaInsure (thru SeaTow) or Geico. Does anyone use either of these companies for boat insurance and if so, how do you like it?

Thanks.

 

[firehog6305]

Re: Insurance

I keep my boat in the water, at the marina where I keep it. I'm required to keep a $500,000.00 liablity policy, plus the policy for just the boat. it only runs me about $60.00 a month for both, through my homeowners policy with AAA, I found it cheaper to do it that way then opening up a new policy, hope this helps

 

[JB]

Re: Insurance

I use State Farm. About $150/yr.

My boat is on a trailer and kept at home, waaaay out in the stix.

 

[RubberFrog]

Re: Insurance

I use geico (SeaSafe).

 

[arboldt]

Re: Insurance

Our first choice was a rider on our homeowner's policy, but our agent said it would be very expensive for our type of boat. So I got a separate policy through Progressive online. Seemed to be cheaper than other companies, but it's always a good idea to shop around every 2 or 3 years.

Yes, just like home and auto insurance, costs can vary widely between companies. It pays to shop.

 

[jay.robinson15]

Re: Insurance

I use State Farm. About $150/yr.

My boat is on a trailer and kept at home, waaaay out in the stix.

State Farm is a really safe choice. I don't think $150 is unreasonable either.

 

[cbavier]

Re: Insurance

I had BoatUS for years $132

I Just added mine to my homeowners policy. Pioneer Mutual who matched my BoatUS coverage for $70 a year.

 

[KeyWestBoater]

Re: Insurance

I have Progressive. It was less than half of State Farm who we have our cars with.

 

[TBarCYa]

Re: Insurance

It looks like there are plenty of options I have not considered. I'll look into the homeowners thing but I doubt that the coverage will be as good as SeaInsure. They don't exclude damage caused by mechanical breakdown or freezing and I think I want that coverage.

Thanks.

 

[CILCIA]

Re: Insurance

Most of the policies from the State Farms, Allstates, Progressives are not true marine policies, SeaInsure is. Like you said the others do not cover a lot of "events" that most boaters would/should want to be covered. I've have a lot of friends that have switched to SeaInsure and I'll be doing the same, they all saved money and got better coverage.

 

[kenmyfam]

Re: Insurance

I have ours on the homeowners policy. $80 per year addition and covers the boat, motor, trailer, contents and liability of $500,000 wherever the boat is in Canada or the U.S.A

 

[orion25]

Re: Insurance

I have Progressive. It was less than half of State Farm who we have our cars with.

I have state Farm for about $500/yr replacement policy. Glad to hear this. I will be hitting up their website in a few..............

 

[WillCmars]

Re: Insurance

I use United Marine Underwriters, they''ve been real good to my family and they know boats better than I do.

 

[cbavier]

Re: Insurance

It looks like there are plenty of options I have not considered. I'll look into the homeowners thing but I doubt that the coverage will be as good as SeaInsure. They don't exclude damage caused by mechanical breakdown or freezing and I think I want that coverage.

Thanks.

I just got a quote from SeaInsure today. $242 for the same coverage Pioneer Mutual (My house Insurer) is insuring me for at a cost of $70 and Boat US offered to insure for $132. I think it pays to shop around.

 

[TBarCYa]

Re: Insurance

I decided to stick with SeaInsure because when I spoke with my homeowner's insurance they were cheap but had exceptions for most things that I want to have insurance for. All things considered, better to be safe than cheap in this case.

 

[SS MAYFLOAT]

Re: Insurance

Several years ago I did a swap on my insurance company. I had Allstate for about 25 years. (without boat ins) Their rates kept going up and the agent became rude. It was as if I was a bother to him. So I started checking out all the different compaines. State Farm saved me about $500 plus I was able to get insurance on the boat with the savings. My boating is limited to inland boating and that could be why the rate from State Farm is lower.

I think a lot of it has to do where you live and where you use your boat.