Boat Insurance. Who to go with?

[BMWboatski]

Just bought my first boat, 2003 Four Winns H200 in great condition. Looking to get insurance, what companies have the best rates and what can I expect to pay per month? Any advice in this area? Thank you.

 

[superpop]

Re: Boat Insurance. Who to go with?

I just went with Progressive, I think it was around 250 a year for a boat worth around 30K.

 

[BMWboatski]

Re: Boat Insurance. Who to go with?

Not bad, was that full coverage or liability only?

 

[ezmobee]

Re: Boat Insurance. Who to go with?

Search on this forum to see how Progressive takes care of you if your boat is stolen.

 

[jay_merrill]

Re: Boat Insurance. Who to go with?

I'm not going to name names, because there seems to be some sensitivity on this site in regard to doing so, but I would strongly urge you to do some homework on claims procedures of the available insurers. I suppose that they all could be taken to task to some degree, but there does seem to be some variance in willingness to pay up when the time comes, without a bunch of unwarranted delays and requirements.

If there were ever an arena in which "buyer beware" would be an appropriate stance, this is it.

 

[cadunkle]

Re: Boat Insurance. Who to go with?

I insure my boat with Progressive. Agreed value $7500, seems like good coverage. Covered for submerged objects, collission, covered from damages on the trailer when towing and also when stored in my yard. Not sure what my theft coverage is actually, only mentioned it in passing when I got the policy. It's not a great concern for me, but I'll ask about it and search for that other thread.

I had originally insured through BoatUS who acted as an agent and gave me a policy through Progressive. Cost maybe $25/yr more than straight through progressive. They never sent me the bill, then sent me an overdue/cancellation of coverage notice. No mail or phone call before cancelling. So I called up Progressive and dealt directly with them. No problems. I also have a motorcycle policy with progressive and got a discount for multiple vehicles. Progressive has always been friendly and pleasant and quick to deal with for changes to coverage or vehicles. Never had to make a claim so can't speak for that. I think my price is about $100 or $120 per year for my boat, which is a 21' I/O bowrider.

 

[salmonee]

Re: Boat Insurance. Who to go with?

Has anyone filed a claim with boatus? How did it go?

 

[Woodnaut]

Re: Boat Insurance. Who to go with?

I have a home built boat and could not get anyone to give me a quote. I worked with a Marine Surveyor to arrive at a fair market value and a replacement cost for the vessel. I presented the information to State Farm and we agreed upon a value. They're now my insurance agent.

 

[Tyme2fish]

Re: Boat Insurance. Who to go with?

Please make sure that you have "content" coverage on your boat. Items such as skis,fishing tackle,depth finders, life jackets,etc. are not part of the "boat" and you may be shocked to discover that they will not be included if you have to make a claim.

I found out the hard way on "contents".

 

[magillacuddy]

Re: Boat Insurance. Who to go with?

Has anyone filed a claim with boatus? How did it go?

I filed a claim with them when I had some damage during a storm (fiberglass, rubrail, and bowrail from hitting the dock). I filed the claim, submitted an estimate from a local shop, and had a check in hand for the amount of the estimate (minus the deductable) a week or two later. No problems. They did jack my premium up the following year, and I actually got a great deal through the same company we insure our home and vehicle through, so I don't use them anymore, but for the claim I filed, it was smooth.

 

[Navy Jr.]

Re: Boat Insurance. Who to go with?

I just went with Progressive, I think it was around 250 a year for a boat worth around 30K.

That's sounds like a fair price. It all depends on what kind of coverage they're providing. Full replacement (agreed value)? Trailer, too? Towing & assistance? Exclusions? Etc, etc.

That's the thing about insurance. Lots of variables.

 

[slasmith1]

Re: Boat Insurance. Who to go with?

Has anyone filed a claim with boatus? How did it go?

I have 1 going right now here is the thread
http://forums.iboats.com/showthread.php?t=294872

 

[TilliamWe]

Re: Boat Insurance. Who to go with?

BMW, I will give you this website:

www.westfieldinsurance.com

They have an agent locator on the front page. Find one in your area and call them. If they aren't familiar with the "American Select BTP-105" policy, call the next agent on the list. But if you are in a popular boating area of MI (and really what isn't a popular boating area in MI? he he) they should know exactly what you want and need.

Yacht policy type coverage for ACV pricing, in most cases. Excellent claims personnel and claims practices. Great company to deal with, provided you aren't trying to commit insurance fraud.

Now a disclaimer, I used to work for Westfield. In claims, and on boat claims. My brother-in-law is the President of their claims department. I left on bad terms in 2005, but kept my boat insured with them. Does that give you any ideas on their coverage vs. price?

Good luck.