Insurance.. How much are you paying?

[Mark42]

Re: Insurance.. How much are you paying?

State Farm does my Home/Auto insuance and covers my 43 year old 14ft boat for $104 a year. The policy covers liability at 100/300 k, and loss at a stated value of $5000. Included are all the nice stuff like towing reimbursement, both on land and water, up to $500 on water repair service, and some other stuff I can't remember right now. So you also save on not needing additional water tow insurance.<br /><br />They wanted a photo of the boat, motor and trailer, the usual identificaton numbers and 3 weeks later I had a policy in hand. <br /><br />I went through the same stuff you are trying to get a policy from boat insurance companies. Either they didn't want to cover a boat that old, or no loss value, or the coverage was rediculously high. Like $800 year on my little boat. <br /><br />I had to call my insurance office two or three times before getting a rep who had experience in boat policies, but it was well worth it.<br /><br />And if you are a homeowner or own valuable assets, a million dollar personal unbrella liability policy is a good idea too. Mine costs about $100 year. Not much cost to save your house and belongings if you injure someone seriously.<br /><br />Mark.

 

[scubatrooper]

Re: Insurance.. How much are you paying?

I'm glad I came across this topic. I just bought a boat and am going through all the insurance and registration paperwork. I feel I got a great deal through Progressive at Progressive.com.<br /><br />My premium is $201/year for a 2004 Caravelle 187LS Bow rider w/V-6 and trailer. The coverages are 300/500 for BI/PD/Uninsured with $500/deductibles across the board. It has a full replacement clause and includes road assistance and a disappearing deductible. My insurance agent from Farmer’s quoted me over $600/year through Foremost Ins. Company for a policy with less coverages than Progressive was offering. I have my homeowners, two vehicles and motorcycle insurance policies through Farmers with great rates. I would have thought they would be a little more competitive on boat insurance. <br /><br />Regards,<br /><br />Steve

 

[muskyone]

Re: Insurance.. How much are you paying?

i pay 386 a year from boatsUS there the only ones who would take it american famly droped me on it befor i even had it on the water some crap about it going over 60mph i lost a hub on the freeway and thay coverd the tow and repairs when i toasted my lower unit thay picked up that bill my rates never went up so i like them

 

[SpinnerBait_Nut]

Re: Insurance.. How much are you paying?

I just bought a Gambler. <br />Full year coverage, full coverage with 200 deductible, $216.00 a year.<br /><br />That is through my local Kentucky Farm Bureau.

 

[JamNJ1955]

Re: Insurance.. How much are you paying?

I have a 2004 18f runabout with 4.3 L<br /><br />Ski-Safe 310.00 for 8 mos.

 

[rwidman]

Re: Insurance.. How much are you paying?

Originally posted by snapperbait:<br /> Thanks Fly rod.. If i were chartering my boat thats about what i would expect to pay, given the the amount you have in liabilty, ect., there...<br /><br />I tried united marine.. they gave me one of the boat's too old "quotes" i posted above...<br /><br />here's what boat us wants to offer...<br />Type of Boat : BENGAL 1972 TIGERCRAFT 21<br />Cruising Area : U.S. Atlantic Coastal Waters incl Florida East + West Coast<br /><br />SUMMARY OF COVERAGES<br />Boat and Boating Equipment (Agreed Hull Value) : $10,000.00<br />Boat and Boating Equipment Deductible : $420.00<br />Boating Liability : $100,000.00<br />Fuel and Other Spill Liability : $500,000.00<br />Medical Payments : $1,000.00<br />Boat Trailer : $2,200.00<br />Trailer Deductible : $50.00<br />Personal Effects : $.00<br />Personal Effects Deductible : $.00<br />Uninsured Boater Protection-Limit each Accident : $100,000.00<br /><br />TOTAL ANNUAL PREMIUM : $836.00<br /><br />H2O, i think i put in a quote with Beacon one too.. so many i can't remember now..

Raise your boating liability to $300,000 or $5,000.000. This will cost more. <br /><br />Raise your deductables to $500.00. This will save money.

 

[rwidman]

Re: Insurance.. How much are you paying?

I'm shopping for new insurance for home, auto, boat, and personal umbrella because were moving out of state. It's a real confusion with one company higer on one item and lower on another. My boat quotes have been from under $300.00 to over $700.00.

 

[lingcod]

Re: Insurance.. How much are you paying?

i'm with progressive also. actual cash value on boat motor, gear, everything. problem is that 3 weeks ago someone stole my 1980 6 horse evinrude kicker motor. this motor ran like a dream, started 1st or 2nd pull everytime. when I contacted progressive about a claim inqury, they told me that actual cash value of this motor was $82.00. where in the world can you buy a good running kicker motor for $82.00? I asked her where she got her info as I need to replace this motor and her source is way cheaper than any of mine. she told me that she called a couple of dealers and asked how much they would pay to buy my motor if I wanted to sell it to them. isn't that trade-in value? anyway just do your homework and ask them what they percieve is actual cash value on your particular setup. more money per year may be more money in your pocket if you ever have to use them<br /><br />lingcod

 

[biloxiriver]

Re: Insurance.. How much are you paying?

lingcodejamie: My carrier says they use the lesser of NADA, BUC, and "actual cash value" (sounds like you got the actual cash value treatment). But you should be able to argue that what a dealer would pay is not what you can buy one for; get some puchase price values and go back to them.

 

[biloxiriver]

Re: Insurance.. How much are you paying?

FYI. Something that some may not realize is that boat insurance costs are affected by driving records too. So in some cases high costs may be a result of the insurer running an applicants MVR. Also, make sure you read your policy. Example: I carry a $300K limit, but my policy provides an additional $200K for pollution coverage; and it didn't cost any extra. I pay under $400 a year w/$250 deduct, for full coverage on my 1998 21 Rendezvous. Also, for those running 50hp or under outboard (sorry IB/IO not included) your homeowners may cover you, read your policy.