boat insurance

[beanz2166]

Who has it? With what company? and If you dont have it why not?

 

[MH Hawker]

Re: boat insurance

I have mine through progressive, boatus wouldn't quote me anything with in reason.

 

[tpenfield]

Re: boat insurance

I went through the local agent that we use for home & auto, not sure the exactly which company it is with . . . You should definitely have it from a liability standpoint.

Interestingly enough, my 'big' boat was less than my 'mid-size' boat, with same/better coverage.

 

[JoLin]

Re: boat insurance

I have mine through progressive, boatus wouldn't quote me anything with in reason.

Interesting. I paid $367. last year, with upgraded personal and fuel spill liability coverage. I've made one claim (storm damage in late 2011) and it was handled quickly with no drama.

Don't know what this year's premium will look like, what with Sandy and all.

 

[emilsr]

Re: boat insurance

I've been using Boat US ever since USAA stopped writing marine policies. They're not usually the cheapest if that's what you're looking for, but the service is top notch. My one claim was handled perfectly; that's the only company I would recommend.

 

[16victor]

Re: boat insurance

Mine is through Amica, who also holds my home and auto policies. I have been with them for many years, and every time I shop I stay with them. Service is outstanding.

BTW for my 2001 Stingray 200LS, 210HP, I pay a tick over $200/year. Insured at $10,000 for the boat/engine/trailer. Progressive was slightly more for less coverage.

 

[agallant80]

Re: boat insurance

I go through State Farm which has my car and house. My boat is about $425/year to insure a boat/trailer with a 70K replacement value . Don't forget to get towing insurance from boatus/seatow etc if you are going to be in lots of open water.

 

[Home Cookin']

Re: boat insurance

every motor boater should have liability coverage, and throw in uninsured/underinsured coverage as well. It does not matter how, where or what you boat in. Not less that $200,000

Liability will usually include med pay and similar coverages.

Property coverage (meaning coverage of YOUR boat if something happens like it sinks or you crash it) depends on the value of the boat; many companies won't cover old ones but at the same time, many will throw in property when you buy liability. As for value, there are agreed value policies, which protect you from the vagaries of valuing a used boat, which will always be less that you think its worth and not enough to replace it.

I think it's a good idea for most people to get an umbrella policy, and if so, your underlying liability coverage has to be high enough to reach the umbrella.

Look at your boat and auto coverage to determine what happens if you are in a wreck while trailering your boat--is your liability covered and is your boat covered.

 

[lncoop]

Re: boat insurance

Always start with your existing company. That's your best shot at a good rate since most offer multipolicy discounts. I just called my agent and told him what I bought and we sorted it out. In Arkansas liability coverage is required if your rig has more horsepower than fifty. In my mind even it's not required it's a moral imperative and is inexpensive peace of mind. I carry full coverage on my party barge that would pay slightly more than it's worth in case of a total loss. It also includes coverage for items in the boat (fishing gear, electronics, etc.) that I'll likely never use, but it's cheap, and who knows? Like HC, in addition to the boat coverage I have umbrella coverage. Since you asked for carriers I use Farmer's for everything (their boating coverage is provided by Foremost, which I think is a wholly owned subsidiary, but I'm not positive) and have always been pleased with rates and service. I have filed a claim and not been subjected to an accident surcharge.

 

[Thalasso]

Re: boat insurance

I have mine with N.B.O.A for agreed value of $97,000. $450.00 a year with $ 1000.00 deductible. My boating is done on inland waterways. Beings your in N.C my guess your will be more because of access to the ocean.

 

[Home Cookin']

Re: boat insurance

good point; mine distinquishes between inshore, coastal and offshore and limits coverage--and you have to know their definitions, not yours, not the dictionary, not "everyone else's."

 

[jayhanig]

Re: boat insurance

Who has it? With what company? and If you dont have it why not?

I'm with Progressive. I tried to get BoatUS to quote a policy but they wouldn't touch my older boat. So I have a policy with Progressive based on agreed value.

Aside from not wanting to suffer a personal loss if my boat gets stolen or sinks, an excellent reason to carry insurance is for those situations where you hurt somebody or damage somebody else's boat. There are some pricey boats around here I'd rather not have to buy if I ran into one around a dock or elsewhere.

 

[jkust]

Re: boat insurance

Progressive because it was the cheapest. I carry insurance because I prefer to transfer the liability and property risk to someone else for a couple hundred dollars a year.

 

[Home Cookin']

Re: boat insurance

I was indirectly involved in a boat collision with 3 fatalities. Until you go through that (God forbid) you have no appreciation for how important--and complicated--insurance coverage is.

 

[1970nds]

Re: boat insurance

I use Markel Insurance for both my boat and motorcycle. They are the cheapest I have found for recreational vehicles.
Boat Insurance from Markel | Buy Specialized Watercraft Insurance

 

[Alwhite00]

Re: boat insurance

Boat US here, Agreed value policy on the boat and trailer. so far, so good - have not had a claim and hope not to but I hear they handle claims well. I am sure with all of the sandy claims my rates will go up next year.

LK

 

[MarkSee]

Re: boat insurance

I have Sea Tow for towing service so when time came up for renewal (I was with progressive) I switched to Sea Insure which is what they call their insurance division which I believe is underwritten by an insurance company back East.

I switched as when I still had both boats, Sea Insure was about the same for the Maxum but much less for the 27 Sundancer--also better coverage.

I found that to rent a guest slip at some marinas here in SoCAl, the marina wants to see a policy with $300,000+ per incident coverage and for some reason, Progressive was showing only $250,000 and when I called them, they could not raise it.

Regarding not having it: that's pretty un-responsible and if you can't afford the few hundred dollars a year, well, wait until you can afford it then buy a boat.

Mark

 

[Thalasso]

Re: boat insurance

Just read on another forum that progressive no longer write ins. for boats longer then 27'

 

[tpenfield]

Re: boat insurance

Well, if you read it on the Internet, it must be true . . .

 

[rallyart]

Re: boat insurance

My boat and its contents are insured through my home insurance policy. I have an addition to the policy which provides me with a $1M liability floater that covers my boat, house, bicycles, and additional on my car for public liability. That was the best way to get the liability coverage on my boat and get my car up to a better level. That's in Canada but I'm quite sure you could get it anywhere. (except maybe Somalia)