Insurance advice..

[jtoronto0]

Hi Everyone,

I'm looking into buying my first boat, but trying to price everything out (get an idea at least)... I don't have a cottage and would have to dock my boat at a marina, etc. Does anyone know the general costs of docking a boat for the summer? Also, can anyone give me a rough estimate regarding insurance costs?? The boat I'm thinking of buying is around 10,000 (run about type boat).... Any info would be great.. I'm totally lost with this...

Thanks guys!

Jack

 

[Jeff-in-PA]

Re: Insurance advice..

Marina costs vary greatly. It would help tremendously if you gave a location as to where you would have the boat docked.

I use State Farm for my boat insurance and get a 10% discount for passing the USCG safety course. That's also something to look into to.

Jeff

 

[Ram58]

Re: Insurance advice..

Call the marina(s) you think you may want to rent a slip from for their rates. I have our boat covered on our homeowners policy. Cost about $100/yr. for $12K coverage + carries the same medical, comprehensive, etc. as the home.

 

[arks]

Re: Insurance advice..

Hi Everyone,

Does anyone know the general costs of docking a boat for the summer? Also, can anyone give me a rough estimate regarding insurance costs?? The boat I'm thinking of buying is around 10,000 (run about type boat).... Any info would be great..

If you currently trailer, the biggest added expense will be the slip itself. Of course, you'll have to do more maintenance (cleaning the bottom, washing the deck) but the convienience of a slip is worth it IMO. You'll need sturdy dock lines, maybe a few fenders, and a good weather cover (cockpit, bimini, or full) to keep out the elements. I see uncovered boats left in slips all summer and just can't fathom why anyone would do that.

I trailered for many years before getting a slip, and when I inquired about any insurance change due to the slip my agent said "no difference". I think the rules are different in hurricane-prone areas.

 

[Jeep Man]

Re: Insurance advice..

First thing is, we don't know where you are or where you want to leave your boat. Insurance rated vary from place to place and marina rates vary from lake to lake.

 

[KYBOY]

Re: Insurance advice..

mabey a dumb question?? but i am also looking to buy my first boat and i was wondering about insurance on the boat to. Is it just like a car where u have to carry it? or is it optional? im looking buy a 1971 starcraft so im sure it wont be that much to insure... like i said proabbly just a dumb question but it had to be asked

 

[Ram58]

Re: Insurance advice..

In the State of Indiana I don't believe it's required. They don't ask for proof at the license branch like they do when registering a vehicle. But for $100/yr. I do it for myself, one mishap could be very costly. I had wiring catch fire on a boat and it covered all damage. Well worth it to me.

 

[KYBOY]

Re: Insurance advice..

Thanks for the reply!! ya i dont think that 100 bucks would be that bad for a year for a little bit more "peace of mind".. thanks again

 

[jtoronto0]

Re: Insurance advice..

Thanks guys! I think adding the boat to my current home owners insurance sounds like a good idea.... From what was said, it doesnt seem like a big cost. I was expecting a couple hunder per month.... I'll definitly call around regarding a slip, hopefully wont be too much, but I guess that also depends on location..

Thanks again guys!

Jack

 

[Erk469]

Re: Insurance advice..

I have State Farm also and it costs me about $130.00 a year...cheaper than any of the ones a looked at.

 

[jakebrake]

Re: Insurance advice..

State Farm insures BOATS? when i insured the Harley, they said they didn't do boats. Maybe it was the tub i had at the time. Maybe it's a geographical thing...anyone in Pennsylvania use State Farm?

 

[Edge180]

Re: Insurance advice..

I didn't know you could insure your boat under Home Owners Insurance. I was recently quoted ~30/month for my boat, agreed value of $10,000 and $300K liability. Now I'm beginning to wonder.

I though $30/mo was good, but then when I look at the time I actually on the boat or pulling it, it's pretty expensive.

 

[OldePharte]

Re: Insurance advice..

I didn't know you could insure your boat under Home Owners Insurance. I was recently quoted ~30/month for my boat, agreed value of $10,000 and $300K liability. Now I'm beginning to wonder.

I though $30/mo was good, but then when I look at the time I actually on the boat or pulling it, it's pretty expensive.

I got my new pontoon insured through BoatUS for $268/year. $40k agreed value, $300k liability, $800k fuel spill, $300k uninsured boater, plus towing coverage. It also includes an extra $20/year for engine freezing damages.