Need a New Boat Insurance Provider

[Arynden]

I just found out that BoatUS, the boating insurance I have, was sold to Geico. I am now looking for a new insurance provider immediately. Recommend whomever you like, or even warn against certain groups, but these are the things I would like to see in my new carrier:

1) diminishing deductibles
2) ease of claim handling
3) good, full coverage for the boat as well as extra expenses (such as towing, hull damage or engine issues, etc.) covered
4) reasonable premiums
5) no hidden fees, especially for submitting a payment
6) no skyrocketing premium after any minor mishap

BoatUS was a very good provider and I would have given them top marks on all the above. While Geico does still carry the diminishing deductibles, with the sale, the very first thing I got was an increase in premium and an additional "installment" fee if I don't pay it all up front (BoatUS didn't charge an installment fee, but they did offer a discount if you bought it all at once).

Also, having spoken with an attorney familiar with Geico in the past, Geico is the type of company where the blame lies with their client every single time, or at least they try to spin it that way. People in an accident always end up battling Geico in order to get them to pay up - so by ease of claim handling, I want a provider with a history of not being this shady. Also, I know almost all insurances will rise with an accident, but Geico is exceptionally notorious for this, so please don't think I'm asking for a provider who doesn't raise premiums after an accident.

I live in NC and winterize every year as well.

 

[GA_Boater]

I think you will have to do some homework because only the Insurance regs for NC will apply.

 

[airshot]

I have never dealt with Geico before, however their quote has always been one of the higher quotes I get. My home insurance has always been Ok and premieums have been reasonable with other quotes with like coverage. The only one I would highly recommend staying away from is "Allstate" I have had terrible problems with them and everyone I know says the same thing. The real problem is no matter what they tell you up front....everything is subject to change by the company.....so it is all just a crap shoot anyway.

 

[JimS123]

I hear people on the net claim cheap insurance for so and so, while in my case they were the highest. The bottom line is every state is different so internet people really can't advise you.

My car insurance went up 17% this year and boy was I %^&*(. But after shopping around I couldn't do better. When I got my BoatUs marine policy I was shocked..........

It went DOWN 15%. So, Im not complaining.

The only insurance company I would recommend against is the one owned by liberal criminals, but I won't say their name. But I sure like the cute lady they use as a TV spokesperson....

 

[robert graham]

Tack your boat insurance onto your homeowner's policy?....get a 10% discount for multiple coverages?.....

 

[oldjeep]

Tack your boat insurance onto your homeowner's policy?....get a 10% discount for multiple coverages?.....

Yup. I keep all my policies with state farm, both for the service and the low combined rates. Diminishing deductable is going to be tough to find, that isn't a common thing - more of a gimmick used by some companies.

 

[redneck joe]

Read this, then get in touch with the author at Anchor Marine. My only complaint is you cannot pay online, have to actally mail a check....



I have not had a claim with them so cannot speak to that.


http://baylinerownersclub.org/index.php/forum/boc-library/33739-vessel-insurance-101-very-simplified


http://www.anchormarineinsurance.com/about-us/bios

 

[Arynden]

My home insurance has always been Ok and premieums have been reasonable with other quotes with like coverage. The only one I would highly recommend staying away from is "Allstate" I have had terrible problems with them and everyone I know says the same thing. The real problem is no matter what they tell you up front....everything is subject to change by the company.....so it is all just a crap shoot anyway.

Yeah thanks for mentioning AllState. I'll steer clear of them. I heard how they wouldn't pay for damages of a Sandy victim, because there was no "proof" the damage was caused by wind (despite a neighbor seeing the roof getting ripped off in the storm) instead of flooding.

Who does your home insurance?

My car insurance went up 17% this year and boy was I %^&*(. But after shopping around I couldn't do better. When I got my BoatUs marine policy I was shocked..........

It went DOWN 15%. So, Im not complaining.

The only insurance company I would recommend against is the one owned by liberal criminals

BoatUS was hands down the best when I got it, but when are you referring to? This sale to Geico JUST happened. Although they gave me a credit for being claims free for years, the overall annual fee for my insurance has just gone up (even with the credit) by more than $70.

Please elaborate on Progressive. I don't know horror stories about them like AllState, so I need to know what problems you've heard from their clients.

Tack your boat insurance onto your homeowner's policy?....get a 10% discount for multiple coverages?.....

In many cases that might not have been bad, but my homeowner's is USAA, and their coverage for boats is ... lacking. I always try to get the best deal on everything. It's why my cars and house are one policy, life insurance is another, and my boat was a third. Years ago, when I was shopping around, BoatUS was hands down the best on premiums with many additional perks and happy customers, but at least one other offered diminishing deductibles. It was due to the fans raving about BoatUS in The Hull Truth that I even looked it up in the first place.

Yup. I keep all my policies with state farm, both for the service and the low combined rates. Diminishing deductable is going to be tough to find, that isn't a common thing - more of a gimmick used by some companies.

I can live without diminishing deductibles, it's just one of the things that I would LIKE to see. I know most people with State Farm for car insurance are happy with service, but does it have good coverage for your boat and additional expenses?
---End of Direct Replies

Please keep in mind that I will talk to all the agents of various companies directly, but the more I can hear about real-life experiences, as well as any additional providers that I may not know about, the better informed I can be about the real deal just like airshot pointed out. It was because of this method that I found out about BoatUS and other non-major providers in the first place.

 

[ccarver80]

I got mine thru "Safeco" ... $212/year full coverage on a 2004 16' crestliner with 75hp Yamaha. .. .its what we have all the vehicles under as well so we stuck with them.

 

[Arynden]

Read this, then get in touch with the author at Anchor Marine. My only complaint is you cannot pay online, have to actally mail a check....



I have not had a claim with them so cannot speak to that.


http://baylinerownersclub.org/index.php/forum/boc-library/33739-vessel-insurance-101-very-simplified


http://www.anchormarineinsurance.com/about-us/bios

Thank you, those links are helpful. In the first, I recognized how I currently have an agreed value coverage instead of actual cash value, and that is something I would have forgotten to ask about but NEED to! I will also be mindful of asking about named perils vs all-risk and seeing the price differences.

 

[oldjeep]

I can live without diminishing deductibles, it's just one of the things that I would LIKE to see. I know most people with State Farm for car insurance are happy with service, but does it have good coverage for your boat and additional expenses?
.

My boat policies are agreed value and I run fairly high liability values on them. Never had to make a claim on the boat policies, but my auto and home claims have been handled quickly and to my satisfaction.

 

[JimS123]

Yeah thanks for mentioning AllState. I'll steer clear of them. I heard how they wouldn't pay for damages of a Sandy victim, because there was no "proof" the damage was caused by wind (despite a neighbor seeing the roof getting ripped off in the storm) instead of flooding.

BoatUS was hands down the best when I got it, but when are you referring to? This sale to Geico JUST happened. Although they gave me a credit for being claims free for years, the overall annual fee for my insurance has just gone up (even with the credit) by more than $70.

Please elaborate on Progressive. I don't know horror stories about them like AllState, so I need to know what problems you've heard from their clients.

I had Allstate auto for 30 years. Had a couple of claims that they handled perfectly, and a couple of not-my-problem issues that they went to bat for me with the other guy's insurance. I can't speak highly enough about them. Then, my agent retired and the new guy was an $%#@ so I left, not because of the company, but because of the idiot agent.

I have had BoatUS since 1999. My renewal came just recently, with the announcement about Geico. The new policy was for the same coverage at 15% less premiums.

Just google the other one....I won't cite issues. The google should make you cringe. The girlie is still cute IMHO.

 

[Newbie@boats]

What is wrong with using Geico as your "new" provider? I have them for my car and truck and ATVs and never ever had an issue plus I like the fact I can call 24/7 365 no issues, I have travlers for my home owners insurance and I wanted to combine them all it would have been more money....I have always liked Geico and been using them for 7 years so far, I had allstate before and was NOT thrilled with their service

 

[RGrew176]

My boat is currently insured by Safeco. They have always had pretty good rates. I once insured a previous boat with State Farm and I had my outboard motor stolen off the boat and they paid the claim within a few days. That is the only claim I have had in 51 years of boating. For the heck of it I got a boat quote from Farmers and they are about $190 under Safeco so I might switch when it renews.

Anyone have any experience with Farmers?

 

[airshot]

During my 66 yrs I have had many different companies, including Gieco which by the way I have just gotten a quote the us boat for a new policy. After what Allstate did to my son when he was hit by a hit and run driver ( which we later caught) I will never do business with them again at any price. I have used Progressive and there auto ins was quite good but their home owners was terrible, it took me two years to get a settlement when a tornado hit our home, and due to there political affiliation I would never go back to them. I currently have a small company from Michigan call Haskins that has been good so far, but no claims to speak of. Many of those I work with have Farmers, Safeco, State Farm, and Geico with no complaints but I do not know what their premiums are. Only the two mentioned would I seriously stay away from, as far as the other companies.....do your homework!!!

 

[spoilsofwar]

BoatUS did not universally raise premiums since being taken over by Geico. I just received my renewal paperwork a week or so ago, and they did not raise my rate a cent. $296/year for agreed value ($31k) and with the 25%/year vanishing deductible, I am now down to a zero deductible for any claims except named storm, trailer, and personal effects.

 

[MITAdU]

I'm currently with State Farm but I'm having issues them "not properly" fixing damages incurred on my boat that was stolen.

 

[jbcurt00]

MITAdU, please ask that question in YOUR topic about your boat hull lifetime warranty etc w Larson.

Asking here is a hijack

 

[Maclin]

I just got a mailer from BoatUS offering their Insurance, still looks like it is totally BoatUS, interesting.

 

[Arynden]

Thanks for all the great replies. I now have added Anchor Marine and Safeco to look at with the finalists I had last time I researched boat insurance, when BoatUS won. I'm not sure why several of your rates with BoatUS have not gone up and mine has, especially since in their mailer to me they specifically state the increase in my premium is to "cover the rising costs of providing insurance protection". I had to double check with how much I paid BoatUS last year just to see what the difference was in what they were charging this time as opposed to last year. (I pay the annual fee all at once, instead of allowing myself to get grifted by paying installments every month.)

Even without the rate hike I would have likely started casting about for a new provider, for the history of them fighting to settle auto-insurance claims. I knew of a multi-car crash (something like 12 cars). One guy in the wreck had Geico, and Geico kept trying to blame the wreck on "him", but an insurance agent from another company (who was handling several of the cars as well as the person who was responsible) eventually had to tell the Geico agent, "No, it wasn't him. It was mine, and we're handling it" - with the payouts, repairs, etc. This is a VERY recurrent problem, even with a police report showing someone else fully at fault, Geico tries to blame their customer EVERY TIME. They also exploit loopholes to cancel insurance without notice even if they still debit your account, so yeah, these are among the many reasons why I will not do business with Geico. Maybe BoatUS customer service hasn't had enough time to get dragged down fully by Geico yet, but it will happen, just give it time.