How many of your carry boat insurance over the entire year?

[salmonee]

I got a quote from my car insurance company for $240 a year for 20k value. Sounds good, I guess better rate than boatus. Anyhow, the boating season in Seattle is maybe 4 months (guess). Makes no sense keeping it all year if your not going to use it. I spoke with my insurance company about buying/canceling insurance for a third vehicle last summer and he says it was fine. What do most people do with their insurance after boating season end?

 

[Navy Jr.]

Re: How many of your carry boat insurance over the entire year?

Our boat in a storage facility six months of the year. I keep the insurance on it all year, however, to cover theft, vandalism and anything else I can't think of. At less than $10 per $1,000 of coverage, it's pretty cheap and well worth the peace of mind.

 

[tashasdaddy]

Re: How many of your carry boat insurance over the entire year?

theft fire, etc, that is a big investment not to be insured. all of mine are too old for comprehensive, but it would be a big loss to be to loose one. lost a windshield 2 years ago to a tree limb.

 

[salmonee]

Re: How many of your carry boat insurance over the entire year?

My boat will be stored in my garage. My homeowner's insurance will cover it during the off time.

 

[ebry710]

Re: How many of your carry boat insurance over the entire year?

My boat only has liability and it is a year policy. Of course I use it 10 months out of the year.

 

[superpop]

Re: How many of your carry boat insurance over the entire year?

I would just verify that your HO policy covers boats, even when stored in the garage. Some do not.

 

[salmonee]

Re: How many of your carry boat insurance over the entire year?

I would just verify that your HO policy covers boats, even when stored in the garage. Some do not.

I thought the home owner cover all your possession under the house? I'll double check.

 

[tashasdaddy]

Re: How many of your carry boat insurance over the entire year?

also it may not cover the full market value of the boat.

 

[dingbat]

Re: How many of your carry boat insurance over the entire year?

Be careful with the Agreed Value vs. Actual Cash Value policy.

The agreed Value is the fair market value that is agreed upon by you, the insured, and the insurance company. In the event that you suffer a total loss, the policy pays the value stated on your policy with no deduction for depreciation.

The actual Cash Value valuation will apply depreciation at the time of loss, often paying you much less than is shown on the policy..

Also read the fine details. When I was first quoted a policy the price was too good to be true. Come to find out that the ?equipment? was only insured to $1,500. I have 3 times that in electronics let alone everything else on the boat.

It's insured 365 days a year. I fish 300 days and I have too much into it not to have it insured.

 

[sickwilly]

Re: How many of your carry boat insurance over the entire year?

Year round, but my policy with progressive is based on the boat being stored a certain amount of months of the year.

 

[mthieme]

Re: How many of your carry boat insurance over the entire year?

Insurance ??????

 

[cpubud]

Re: How many of your carry boat insurance over the entire year?

for piece of mind 24/7/365

 

[ksubigbuck]

Re: How many of your carry boat insurance over the entire year?

Question, what would boat insurance do for someone like me? My boat is a 1977 17ft bass boat with a 115 outboard. I fish probably 30 to 45 days per year, and only travel about 30 minutes to the lake? I have checked and the boat is covered by my homeowners policy when it is in the garage. If I'm not mistaken it is also covered by my tow vehicle's policy when I'm pulling it down the road. To top it all off it isn't worth much in the insurance company's eyes because of it's age.

Thanks,
Hunter

 

[thepotroast]

Re: How many of your carry boat insurance over the entire year?

I was going to call State Farm today to see what they would quote me on the boat I am picking up this weekend (in the sig). We don't own the home we're currently in (although we do have homeowners on a house we do own), so no coverage with that. Our vehicles are through SF as well, but they do not cover the boat unless it's stated on the policy. Even though it would only be ~5k in stated value for the boat/motor/trailer, it would still be peace of mind to have it. Besides, I've seen and hard my fair share of stories about collisions on the water, especially with jet ski's. If the boat is hit while I'm towing it, or god forbid the trailer has a flat and the trailer jackknifes...again, there's no coverage there for me.

So insurance seems a must...at least in my case.

 

[tashasdaddy]

Re: How many of your carry boat insurance over the entire year?

ksubigbuck, you need to make sure you have some type of liability, you are like me, they will not cover any comprehensive because of age. but i do carry liability.

 

[ksubigbuck]

Re: How many of your carry boat insurance over the entire year?

ksubigbuck, you need to make sure you have some type of liability, you are like me, they will not cover any comprehensive because of age. but i do carry liability.

Thank you TD, I'll call my agent. I'm guessing that will cost just peanuts for my setup.

Hunter

 

[kandil]

Re: How many of your carry boat insurance over the entire year?

Question, what would boat insurance do for someone like me?
Hunter

You need insurance in case you hit some ones $100,000 or more boat

Insurance ??????

Wher do you boat so I would stay awy from that area

 

[wuttja]

Re: How many of your carry boat insurance over the entire year?

I carry it year round for peace of mind. The place where I store it during the off-season requires proof of insurance, but I would carry it regardless of where I stored it. For me it's about $150 per year and it's also covered under my $1 million homeowners umbrella policy.

 

[thepotroast]

Re: How many of your carry boat insurance over the entire year?

I just called State Farm about adding a boat policy to our existing homeowners/vehicle coverage. For a $5000 agreed upon policy (if it's totaled they will give me a check for $5k), it's roughly $30/mo. That also includes 300k in liability, and comprehensive, as well as $500 towing coverage (in the water AND on the trailer). I could always up the policy to cover more than this if I wanted to...but $5k would replace my rig. When I take delivery of the boat this weekend, I will add it to my policy...for peace of mind. Too many people on PWC's in these waters in the summer....

 

[salmonee]

Re: How many of your carry boat insurance over the entire year?

potroast,

That sounds expensive. I'm 31 and mine was for 20k at $20/month.