To insure or not to insure...

[jennis9]

Re: To insure or not to insure...

Up here I pay $154 per year for trailer/boat and all of the goodies inside. I also get the tow through BoatUS with trailer service at about $25/year.

My husband made sure to include equipment at replacement value in the insurance package. So we listed the equipment that would be attached - GPS, downriggers, rodholders etc... and took pics.

I would never run without insurance - and after seeing some of the bozo's at the ramps... I don't trust anyone.

 

[cobra99]

Re: To insure or not to insure...

I have a 16' aluminum bass tracker boat that has full coverage for 125$ a year. It has a 40 hp johnson and i insure it for 3,000$ worth of coverage through allstate. Keep looking around for a better rate because for me it is worth the piece of mind in case something should happen.

 

[Starcraftguy1]

Re: To insure or not to insure...

My 1995 Bass Tracker with a 40 Merc through US Boats cost me 175.00 a year,with 1500 for the trailer,5,000 for the boat and another 5,000 for what is inside,haz waste spills,.I think it is a good deal.

 

[lakelover]

Re: To insure or not to insure...

My 14' aluminum Starcraft & 20 hp motor are covered for $4000 with $300,000 liability with Sate Farm and costs $67/year. I think that's pretty reasonable for a little peace of mind, especially when the kids in their 20's are also operators. As said previously, all is covered by car ins. when being towed.

 

[45Auto]

Re: To insure or not to insure...

Definitely get the liability, unless you really like risking everything you own to save about $50 a year. 100k per person, 300k per accident liability on my 425 HP Crownline runs $55/year.

Anything over that is just a call on your part as to how much financial risk on the value of your boat (theft, sinking, etc) you want to shift to the insurance company. My 35k agreed value policy (if the boat is lost they cut a check for 35k) is $613 a year.

 

[Ishboo25]

Re: To insure or not to insure...

ive ben reading the posts above..... last year i purchased my boat at the end of august so i didnt bother, but this year id like to get it well at least liabity and maybe 3k to cover what i paid for the boat..... r there certain places to get it from, or do you just contact your auto ins...?

 

[grego]

Re: To insure or not to insure...

I have every thing fully insured through same co. boat payment is 107.00 yearly.

 

[thepotroast]

Re: To insure or not to insure...

ive ben reading the posts above..... last year i purchased my boat at the end of august so i didnt bother, but this year id like to get it well at least liabity and maybe 3k to cover what i paid for the boat..... r there certain places to get it from, or do you just contact your auto ins...?

Call your auto insurance agent and ask if they offer boat insurance. If they are a major carrier such as State Farm, Allstate, Geico, Progressive, etc...then they cover boats. There are companies online that also offer the services. If you read through the posts here, you will see a few names being mentioned.

 

[ezmobee]

Re: To insure or not to insure...

I currently have USAA for everything and love them. I just looked into getting boat coverage from them and unfortunately it appears they don't offer that kind of insurance and they want to broker me through Progressive. That sucks because I want absolutely nothing to do with Progressive.

 

[45Auto]

Re: To insure or not to insure...

Make sure you check around. I have 5 cars insured with State Farm - they wanted $1200/year to add my boat. I have my house insured with Allstate - they wanted $2200/year to add my boat!! I went with Progressive at $600/year. Same coverage in all cases.

 

[thepotroast]

Re: To insure or not to insure...

Make sure you check around. I have 5 cars insured with State Farm - they wanted $1200/year to add my boat. I have my house insured with Allstate - they wanted $2200/year to add my boat!! I went with Progressive at $600/year. Same coverage in all cases.

Very true! I went to 3 different insurers for my 2004 in the signature. State Farm we currently have a home and auto policies with (they gave me the lowest rate), I also got a rate with Progressive which was slightly higher and Geico was actually a little lower than State Farm but their coverages were not as good, plus I just don't like their advertisements!

 

[special_kaye]

Re: To insure or not to insure...

I also got a rate with Progressive which was slightly higher and Geico was actually a little lower than State Farm but their coverages were not as good, plus I just don't like their advertisements!

Amen, hate 'em.
I'm also with USAA so will probably end up with who ever they use for now.

 

[ezmobee]

Re: To insure or not to insure...

Amen, hate 'em.
I'm also with USAA so will probably end up with who ever they use for now.

Good luck with that....they use Progressive!

 

[special_kaye]

Re: To insure or not to insure...

Good luck with that....they use Progressive!

That might not have come across right. My dislike is for Geico. They used to really rip service members off, me and my wife being ones, and not pay claims that should have been paid. We got hit pretty hard, and so did several of our friends over the years. So, no matter what, I'll run without insurance if Geico is the only one I can get. Progressive I don't have an opinion on yet. Never worked with them.

USAA, them I have an opinion on: They might be a touch higher on some costs but the customer service is wonderful. They called me to notify me about something before the bank had a clue. Saved my bacon.

 

[rrhodes]

Re: To insure or not to insure...

I added my boat onto my Auto policy with State Farm. $33k in coverage costs me $325 per year.

 

[ezmobee]

Re: To insure or not to insure...

That might not have come across right. My dislike is for Geico. They used to really rip service members off, me and my wife being ones, and not pay claims that should have been paid. We got hit pretty hard, and so did several of our friends over the years. So, no matter what, I'll run without insurance if Geico is the only one I can get. Progressive I don't have an opinion on yet. Never worked with them.

USAA, them I have an opinion on: They might be a touch higher on some costs but the customer service is wonderful. They called me to notify me about something before the bank had a clue. Saved my bacon.

I have USAA for everything I can have with them. Love them. Unfortunately I have had real bad experiences with Progressive in the past so being brokered through them by USAA is not a tempting option for me. I wish USAA could provide the coverage themselves.

 

[reelfishin]

Re: To insure or not to insure...

I added my boat onto my Auto policy with State Farm. $33k in coverage costs me $325 per year.

$33K is nothing in coverage when it comes to liability today.
Even the bare minimum on a car policy in most places is $100K.
If someone was to get seriously injured or killed by your boat, you would not be sufficiently covered.
I'd venture to guess your policy may be only for the value of your boat if it's damaged or stolen, and not $33K in liability coverage?

 

[ezez]

Re: To insure or not to insure...

BODILY INJURY & PROPERTY DAMAGE LIABILITY

$34.00​

BI $100,000 EACH PERSON - $300,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $50,000 EACH ACCIDENT


UNINSURED BOATERS

$11.00​

$25,000 EACH PERSON - $50,000 EACH ACCIDENT


COMPREHENSIVE $250 DED AGREED VALUE

$35.00​

AGREED VALUE $4,000


COLLISION $250 DED AGREED VALUE

$20.00​

AGREED VALUE $4,000


DISAPPEARING DEDUCTIBLE INCL
WRECKAGE REMOVAL INCL
MARINE ELECTRONICS DED $500 INCL
TRAILER DED $250 INCL
FUEL SPILL LIABILITY INCL
COASTAL NAVIGATION 75 NAUTICAL MILES INCL
ROADSIDE ASSISTANCE INCL


Premium by Watercraft

$100.00​

Total Policy Premium

$100.00​

 

[werthert]

Re: To insure or not to insure...

I currently have USAA for everything and love them. I just looked into getting boat coverage from them and unfortunately it appears they don't offer that kind of insurance and they want to broker me through Progressive. That sucks because I want absolutely nothing to do with Progressive.

That's what I found out too, what are your suggestions? What have you found?

 

[Fun Times]

Re: To insure or not to insure...

Not too many logs around here. But you reminded of when I purchased my 2001 Merc 25. For $100, Mercury offered a 5 year warranty...anything that happens, they replace it. I even asked "What if I hit an underwater obstruction and break the motor in two?". I'm covered. I jumped on it. Fortunately (or not) I never needed it. But it was a good deal

Well I am glad you did you did not hit a log within that time frame, Because I hate to be the one to tell you, But Mercury/ mercruiser would not have covered your engine under "warranty" if you had hit something in the water and broke the motor in two. As I am wrighting this I am thinking you ment to say Mercury insurance will cover your engine if you hit a log or something. If not then the salesman would have givin you the wrong info at the time of the engine sale.