How Many Boat Owners Have Boat Insurance?

[JZammetti]

Re: How Many Boat Owners Have Boat Insurance?

I carry overkill in the insurance department, but for $220 a year it is worth the peace of mind

 

[diesel5599]

Re: How Many Boat Owners Have Boat Insurance?

Mine is also through the company that I have my home and auto insurance. $170 a year for full coverage. That's $6000 on my boat and $1500 on the trailer. Plus medical and liability. Too cheap not to do it!

Well the insurance is all screwed up here in FL. My auto insurer doesn't insure houses, my homeowner's insurance doesn't insure boats, and my auto insurer wants an arm and a leg to insure my boat. And I bet if I filed a claim with any of them for anything, it would take a lawyer to get it resolved.

So much for group discounts, I will save more by keeping them all separate.

 

[Yellow Yota]

Re: How Many Boat Owners Have Boat Insurance?

In Oregon, I pay $176 per year for my 2004 Rinker RX-1. Full coverage through Allstate. Same as my autos. Deductables and limits are the same as well.

Just under $15 per month. The agent even offered to set me up for liability only during the off season, as it would be covered by Home-owners for theft or physical damage at home.
Not worth the hassle to mess with it. Plus, if there's a nice day in February (which I had a couple of this year), I don't have to remember to call my agent.

 

[diesel5599]

Re: How Many Boat Owners Have Boat Insurance?

In Oregon, I pay $176 per year for my 2004 Rinker RX-1. Full coverage through Allstate. Same as my autos. Deductables and limits are the same as well.

Just under $15 per month. The agent even offered to set me up for liability only during the off season, as it would be covered by Home-owners for theft or physical damage at home.
Not worth the hassle to mess with it. Plus, if there's a nice day in February (which I had a couple of this year), I don't have to remember to call my agent.

It sounds like every other state is cheaper than FL. Probably because FL has such a long boating season which means more boats on the water, more accidents that happen, etc. Also FL boating weather is pretty unpredictable at times, its not hard to get caught in a storm if you aren't careful.

On the Boat US site they actually had a whole separate category that stated continental US and FL. The other category was continental US excluding FL. What are they trying to say? We boat as bad as we drive down here?

 

[koko1]

Re: How Many Boat Owners Have Boat Insurance?

Someone is trying to rip ya a new one.. .I have my Tahoe insured for 17K with 100,000 in liability coverage for only $250 a year... Granted I do have 5 cars and boats through the same company but that price you quoted is outrageous..

 

[dan t.]

Re: How Many Boat Owners Have Boat Insurance?

wouldnt leave the driveway without it

 

[bruceb58]

Re: How Many Boat Owners Have Boat Insurance?

You have to be pretty stupid to boat without insurance.

 

[diesel5599]

Re: How Many Boat Owners Have Boat Insurance?

Someone is trying to rip ya a new one.. .I have my Tahoe insured for 17K with 100,000 in liability coverage for only $250 a year... Granted I do have 5 cars and boats through the same company but that price you quoted is outrageous..

Liability only was only $102/yr for 100K in coverage. It was the comprehensive that made it almost as expensive as car insurance.

 

[Proselect]

Re: How Many Boat Owners Have Boat Insurance?

I sold my snowmobiles and trailer to buy my boat and the coverage on the boat is way less than the sleds. I only pay 56 bucks a year for my boat. I also have other vehicles and my house with the same place so it comes out cheap. My two sleds cost me almost 500 a year.

 

[skargo]

Re: How Many Boat Owners Have Boat Insurance?

You have to be pretty stupid to boat without insurance.

Glad you said it Bruce. I can't believe people would even consider boating without it, realizing what's at stake and how cheap it is.

Could you 9 who said you don't have it explain why?

 

[Home Cookin']

Re: How Many Boat Owners Have Boat Insurance?

focus on the liability coverage first; that's the most important.
On old boats, consider liability only--though they often throw in some boat coverage for practically nothing. With the hurricanes, though, boat coverage is up.
Cut your rates with a high deductible. You wouldn't file a claim for less than $1000 so why pay for it?
Also save money by self-insuring part of the risk--if you have a $8000 boat, insure for $4000-if the math works on the premium difference.

 

[KeyWestBoater]

Re: How Many Boat Owners Have Boat Insurance?

I have Progressive, its about $220 / year. No way would I do without it.

KWB

 

[DianneB]

Re: How Many Boat Owners Have Boat Insurance?

I valued the replacement of my old 21' I/O at $5,000 and added it to my home owner's insurance for $50. 1% seems pretty reasonable. When I had a light plane, not-in-motion insurance was 10% of the value!

 

[stubbsboogie]

Re: How Many Boat Owners Have Boat Insurance?

Absolutley you must have insurance!

Think about not only the boat but also all of your other assets too. It only takes one mistake or even not a mistake and things can go bad really fast.

 

[NelsonQ]

Re: How Many Boat Owners Have Boat Insurance?

Well the insurance is all screwed up here in FL. My auto insurer doesn't insure houses, my homeowner's insurance doesn't insure boats, and my auto insurer wants an arm and a leg to insure my boat. And I bet if I filed a claim with any of them for anything, it would take a lawyer to get it resolved.

So much for group discounts, I will save more by keeping them all separate.

Look into a marine insurance company. I find they offer better rates and more complete coverage (mine covers damage from squirrels/raccoons if they nest/destroy your boat during storage, etc)

 

[ECVCHAMP]

Re: How Many Boat Owners Have Boat Insurance?

Boat US - $325/year for full coverage. 08 Reinell 207LS
I have my homeowners with State Farm and they wanted $650/year

 

[bear_69cuda]

Re: How Many Boat Owners Have Boat Insurance?

Full coverage, ~ $300/yr

 

[GXL205 Deke]

Re: How Many Boat Owners Have Boat Insurance?

insured for 22k cost replacement, and 2m liability, 316 a year.

650 with Statefarm? Whaaaa? I am with Statefarm.

 

[pinellas50]

Re: How Many Boat Owners Have Boat Insurance?

I'm with Progressive. I also got the optional towing insurance. All combined it was ridiculously cheap! Like $180 a year I believe. But the insured value on my boat/trailer is only $3,500 which may be why it is so cheap. Either way, this one was a no brainer for me.

 

[Sikiguya]

Re: How Many Boat Owners Have Boat Insurance?

Everyone said the right thing for the most part. A couple of points.

1. Someone said that your homeowner policy covers your boat when it is on the property. That is a yes and no. There is a limitation on the policy. Think about. If I park a 2010 Searay 260 in my driveway, do anyone really think it will be covered by a $100,000 home policy for free? It is usually an accommodation for smaller boats. Check your policy for clarification.(by the way, that is the actually policy booklet and not the declaration of coverage)

2. Liability insurance. Be sure to check your state for liability laws. It varies from state to state. For all that is holy, do not base it on price alone. Liability is one of the cheapest form of insurance. Find a local insurance agent that can help you determine the right level of liability in your state. In the great liberal state of Wisconsin, the 1997 Wrongful Death act basically carry a financial death sentence. If you are getting liability alone, check to see if you can extend it from the home policy. It can be had for only $15/year.

Happy safe boating!