Re: insurance help
Interesting subject. My first reaction is why insure a 14 ft. boat with a 50hp.? Wait, hear me out. 4 yrs ago I had a hull built for 5K, hung a YAMAHA 115hp. on it and thought it would be a good idea to insure it, total value to me 16K. Maby I filed the application out wrong but BOATS US. charged me better than $800 for a years coverage. That was more than I paid for liability, collishing and comp. on my car with a 1k deductable. Boat sits on a lift in my back yard, could be stolen but the chances are slim. Boat is not used daily in traffic, on water collishions do occure but are rare compaired to public roads. Why the high premium? Canceled the insu.
Yes, I am taking a chance but as long as insu. is not required here in FL. think I will do without. Do understand that like a car, if the boat is financed you will be required to have collisshion coverage. I keep my road vehicles for a good length of time, never financed since 1973, so there gets to a point where I drop the collishion/ comp and take my chances. Might sound risky but research what the real replacement cost is on your vehicle if it was totaled.
Not to steal the thread, would like to hear what the people here pay for insu. and their replacement boat value is. Liability, another story, can be covered by a blanket policy. regards FRED
