Insurance question

[junkman41]

hello everyone, I am new to pontoons, this is my first one, I had small fishing boats in the past and present. I never had any kind of insurance on my fishing boats. should I have the Pontoon insured ?

 

[Jeff-in-PA]

Re: Insurance question

I have my boat insured thru State Farm and it's under $15 a month. My USCG Safety Course certificate gets me 10% off my premium. That way if something happens ON my boat, I'm covered. If it's stolen, I'm covered.

Plus, Marine Law is different than the laws regarding travel in your "ground" vehicle. If you are involved in a collision on the water, it is very possible a portion of the blame could be assigned to you.

Cheap enough for peace of mind.

 

[cyclops2]

Re: Insurance question

When you spill gasoline or oil on the water accidently in front of a " save the world " person, you will quickly understand that marine insurance can be VERY cheap.

 

[junkman41]

Re: Insurance question

thank you, my question as been answered. I will be calling my Insurance company today.

 

[Silvertip]

Re: Insurance question

Make sure you insure yourself as well. By that I mean "liability" insurance. Insuring the boat insures it against damage and theft. Include liability protects yourself should you have an incident (nice term for a wreck). Your homeowners insurance may have a personal liability clause but they generally also have a HP limit (25 HP or so). More than that you need a separate policy or a rider on the homeowners.

 

[lncoop]

Re: Insurance question

You might also consider umbrella coverage if you don't have it already. It may or may not make sense for you depending on your boating style, but IMO anyone who pulls tubers, skiers, etc. should have it. Talk to your agent about it.

 

[robert graham]

Re: Insurance question

I just add my boat insurance onto my Homeowner's policy...seems simpler to have one policy...maybe cheaper?...Call your agent...

 

[lncoop]

Re: Insurance question

I just add my boat insurance onto my Homeowner's policy...seems simpler to have one policy...maybe cheaper?...Call your agent...

Yes, I have all my insurance; home, auto, life, boat, and umbrella through Farmer's (they farm the boat insurance out to Foremost). Typically the more policies one has the bigger discount one gets. Not always though. My mama told me........

 

[robert graham]

Re: Insurance question

I forget right now exactly what the premiums are for my boat insurance, but I recall it wasn't a whole lot$, considering all the nasty things that can happen to a boat. My son and I(dad had the wheel, so got full blame:redface, hit a floating, water-logged 2"X12" in my son's boat, cracked the transom, insurance fixed it good for about $1500!....

 

[junkman41]

Re: Insurance question

thanks everyone for all of your responces, If I would not have been reading differant threads on this forum I probibly would be out on the water without any insurance. I contacted my agent yesterday and he will be getting back to me with a quote for a policy.
again thank you for all your help
Jack

 

[MH Hawker]

Re: Insurance question

Junkman I just recently took quotes from several company's and the basic policy's started around 75.00 a year and went up from there depending on what you want covered.

 

[cribber]

Re: Insurance question

Shop around when looking for insurance and get the most bang for your buck. Get quotes, compare policies, and read the fine print if you got for replacement cost coverage. Not to plug anyone one ... Progressive did me right for what I needed in a boat policy. Fingers crossed I never need them for a serious claim.

 

[junkman41]

Re: Insurance question

so far I got a quote from progressive,that includes the pontoon and the trailer also, at around 200.00 a year. I am going to look into my homeowners and put everything on it and see if that would be cheaper for me.
thanks everyone for the good information
Jack

 

[Spinzone]

Re: Insurance question

Please, please check with your agent before adding your boat to your home policy. These are not typically marine policies. They normally do not cover things like liability if someone is injured while towing tubes. Check on recovery limits if your vessel were to sink. Recovery runs $5k+ to raise a boat. Finally, home policies do not typically cover pollution from spilled fuel. These are the main coverages that you do not get with a home policy amongst many others. Ie- fishing gear gets stolen.

Shop for a true marine policy. Foremost, Progressive, Geico, Seasense, Boat US has a company. These are TRUE marine companies.

 

[lncoop]

Re: Insurance question

Welcome aboard Spinzone. Don't think anyone was suggesting adding the boat to a homeowner's policy, at least that was not the intent, but you're absolutely right. I obtained coverage through my Farmer's agent since he takes care of my homeowner, auto, and life policies, but the actual coverage is provided by Foremost unless umbrella coverage becomes necessary. Let's hope that never happens.