Boat Insurance

A lot of boat insurance companies will not reimburse the full value of replacement parts due to depreciation of things like lower units and power heads if they have to be replaced so I would try to find one that will replace parts for retail value of new parts

20’

Used to have progressive, now I have Geico. Geico beat their price by about $150 last I checked.

Dude. That’s high.

I have Progressive through Farm Bureau and I’m at $325/yr.

23’ bay boat......brand new.

What are your liability limits?
Towing coverage?
Uninsured boaters?

Make sure what your getting has plenty of lability coverage. Medical payments coverage is also very important (someone on yourboat gets injured) and please! Make sure you have more personal property coverage than you think you need. I can't tell you how many times I've had to tell somebody that they didn't have coverage for something being stolen off the boat, out of the boat because they didn't want the property coverage, they just wanted to insure the boat. Rods, reels, life jackets, depth finders, fish finders, trolling motors, tackle, etc. Add all those things up, they get pricey, quick.

Also make sure the policy you're getting is a "stated value" policy. That means when you say I'm insuring it for 24k that's what it is day 1 or day 500. It never depreciates.

Policy coverages:
Liability (Bodily Injury & Property Damage) $100,000 person/$300,000 accident/$50,000 property damage

Uninsured Boater $100,000 person/$300,000 accident

Medical Payments $10,000 each person

Fishing Equipment $1,000 ($250 deductible)

Vehicle Coverages
Totaled Vehicle Options Agreed Value
Comprehensive $500 deductible (Agreed Value)

Comprehensive Named Storm Deductible $1600

Collision $1,000 deductible (Agreed Value)

Disappearing Deductibles Selected

Sign & Glide? On-Water Towing Selected

Propulsion Plus? Mechanical Breakdown Coverage Selected

Coastal Navigation 75 nautical miles

Replacement Cost Personal Effects $1,000

Hurricane Haul Out No coverage

I recently switched to BoatUS/Geico. I did a good bit of looking around and they had the best reviews.

That looks like a solid lineup of coverages

Question: what is a disappearing deductible?

As it was explained to me (I have Progressive) it is when you dont have a claim 4 renewals in a row. The deductible goes to 0. I also have the disappearing deductible.