Boat insurance

[basstender10.6]

I have been in the market to buy a new boat. I have been looking at something around a aluminum 14' or 15' feet with the carpeted floors and decks and a 25hp motor. the problem is that most of the boats that I have been looking at are under powered with a 25hp on the back. So I have been looking for something with a 40hp motor. Something in the years of 2000- present for the whole package. My question is about boat insurance. I will be using the boat on a very busy lake with lots of jet skiers and cabin cruisers. I think my home owners covers boats under 14' and 30hp but If I go over that should I get my own insurance. I am only
15 years old but my father has a great deal of boating experience. He had a 23' sea ray and had insurance for that but the boats that I am looking to buy are in a different class. You care comparing a 14' fishing boat to a 23' speed boat with 350hp in it. Most of the time I will be trolling around fishing. Oh and I am not worried about theft, when the boat is on the trailer I put the boat backwards in the driveway, take both tires off and take off the coupler. (there is no chance of someone hitching up and trailering away. So what are your opinions.
Thanks

 

[roscoe]

Re: Boat insurance

Yes, get the insurance.
It will likely need to be in your fathers name, as you are a minor.
You have an accident of some sort, and you and your father could lose everything.

Should only be about $100 a year as a rider on the homeowners insurance.

 

[H20Rat]

Re: Boat insurance

Make double sure you are actually covered... I used to work in insurance, and for the policies we wrote, you would never have had coverage at that age with that horsepower. Yes, it could (and would have to be) written under your dad's name, but even then, the policy would not extend coverage if only you were on board.

It was a specific horsepower/speed/size/age formula, usually applied to the muscle PWC's but also caught other fast boats. Under 16 had one set of restrictions, 16-17 had another. 18 was no restrictions.

 

[halfmoa]

Re: Boat insurance

My homeowners insurance automatically covers any boat 16 foot or less with less than an 85hp motor attached. That sounded great to me until I found out comprehensive coverage was 26 bucks a year for up to $2000 reimbursement. Cheap insurance and peace of mind!

 

[Home Cookin']

Re: Boat insurance

and my homeowners has different minimums for coverage/exclusion. You have to understand (not just read) the provisions in yours; boat coverage/exclusion is a minefield of double negatives.
I agree you want to focus on liability; the property/comprehensive may be a cheap add-on.

 

[Texasmark]

Re: Boat insurance

My homeowners insurance automatically covers any boat 16 foot or less with less than an 85hp motor attached.

Same with me and State Farm. Small boat, low hp, covered. But don't second guess. Contact your agent.

Mark

 

[basstender10.6]

Re: Boat insurance

I am going to talk to my agent tomorrow. When I bought my first boat I remember being around 14' and 30hp. That might have changed.

 

[Home Cookin']

Re: Boat insurance

not only are many policies different, state laws are often superimposed on the policies. Never ever rely on, or even consider, someone else's policy or even your old one. That's why I didn't say what mine says specifically.

Have your policy in hand when you talk to the agent. Even they are often wrong, or guessing, when it comes to this, and if they tell you wrong you have no recourse.