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Started By
Message
re: Boat Insurance
Posted on 3/23/21 at 8:20 am to canyon
Posted on 3/23/21 at 8:20 am to canyon
I have Progressive, they were so good when I was involved in a hit and run on my Motorcycle. I originally picked them because they were cheap, now I use them for the service. I am insured out the arse on my 23' bay boat, it is a little over $60 a month but I have the replacement value plan, they will get me a new boat or cut me a check for what a new boat cost. I also insured WAY more than $1k of fishing equipment...
1
Posted on 3/23/21 at 8:25 am to armsdealer
Is there any company that would cover loosing your lower unit if you were at cruising speed and hit an underwater obstruction?
Posted on 3/23/21 at 8:28 am to jdavid1
I’d be careful going with the cheapest carrier for boat coverage
Service can be horrible and they’ll jack you around on claim settlements
Service can be horrible and they’ll jack you around on claim settlements
Posted on 3/23/21 at 8:45 am to X82ndTiger
I use progressive and it’s about 60 a month for full coverage on a 70k dollar boat. Full replacement value, I think like 5k medical coverage for injuries, 3k equipment replacement for equipment on board, 500 dollars for towing, 1500 for rental replacement.
ETA I looked and medical payments were 10k per person. I couldn’t remember what that one was. Plus full liability coverage and such
ETA I looked and medical payments were 10k per person. I couldn’t remember what that one was. Plus full liability coverage and such
This post was edited on 3/23/21 at 8:51 am
Posted on 3/23/21 at 8:48 am to hawgndodge
quote:
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.
This. I insured mine for 70k the day I bought it, so if it sinks or gets wrecked I can pay it off and buy another one
Posted on 3/23/21 at 8:51 am to X82ndTiger
$59/month for boat and jetski with Safeco through Louisiana Companies
Posted on 3/23/21 at 9:09 am to X82ndTiger
Not sure where you are located:
Safeco
Progressive
Foremost
Foremost and Progressive have the better coverages than Safeco. Progressive has the propulsion plus coverage which could hypothetically cover lower units hit by a submerged object.
Depending on boat value and location of boat the premium is not that much per year.
Safeco
Progressive
Foremost
Foremost and Progressive have the better coverages than Safeco. Progressive has the propulsion plus coverage which could hypothetically cover lower units hit by a submerged object.
Depending on boat value and location of boat the premium is not that much per year.
Posted on 3/23/21 at 9:33 am to X82ndTiger
I have SkiSafe. They have been pretty competitive.
Posted on 3/23/21 at 10:40 am to ct4lsu
quote:
You only can compare your rates to his if you know what coverages he has.
Fair enough ($320/year):
Physical Damage
Actual Cash Value of boat
Comp/Collision
$375 deductible
Bodily Injury/Property Damage
$50,000 each person
$100,000 each accident
$50,000 each accident
Uninsured Boater
$30,000 each person
$60,000 each accident
Fishing Equip
$2500
Posted on 3/23/21 at 10:55 am to X82ndTiger
Do insurance companies have a size/age limit of a boat they will cover?
Posted on 3/23/21 at 11:06 am to GofishMS
Varies by carrier
Most if not All will cover collision which includes hitting an underwater obstruction.
FYI, choose wisely when submitting a claim. 2 in a 5 year period you keep coverage, more than that and you Will be Non-Renewed.
Most if not All will cover collision which includes hitting an underwater obstruction.
FYI, choose wisely when submitting a claim. 2 in a 5 year period you keep coverage, more than that and you Will be Non-Renewed.
Posted on 3/23/21 at 11:54 am to deltaland
quote:
This. I insured mine for 70k the day I bought it, so if it sinks or gets wrecked I can pay it off and buy another one
They might require you to have it surveyed or they might depreciate it every renewal.
It’s unlikely that they will just take your word for the value and also unlikely that they will insure a used boat for the same value as new.
Posted on 3/23/21 at 12:04 pm to SlidellCajun
Carriers know what they are insuring beforehand. You will not replace an older boat for a new one at the same value.
Surveys are typically reserved for documented or higher value blue water boats bought used.
37' Freeman new insured for $505,000 delivered 2019, 37' Freeman new delivered 2021 $600,000 +. Can you buy the 2021 with agreed value money from 2019?
Surveys are typically reserved for documented or higher value blue water boats bought used.
37' Freeman new insured for $505,000 delivered 2019, 37' Freeman new delivered 2021 $600,000 +. Can you buy the 2021 with agreed value money from 2019?
Posted on 3/23/21 at 1:50 pm to X82ndTiger
Progressive (not bundled)
$40/mo
Agreed value ($40k)
500k Liability
500k Uninsured
1k Medical Payment/ person
1k Deductible
2k personal items
$40/mo
Agreed value ($40k)
500k Liability
500k Uninsured
1k Medical Payment/ person
1k Deductible
2k personal items
Posted on 3/23/21 at 2:22 pm to jmorr34
I use Foremost for my boat, State Farm for my vehicles.
Had a couple claims last 2 years and never saw an adjuster.
Check showed up, no problems or rate increases. Claims averaged $8-$10 k
Had Progressive off and on over the last 25 years and every time (including vehicle accidents that weren't my fault) They were always a pain in the arse, and tried to go cheap route with reman parts etc.
Had a couple claims last 2 years and never saw an adjuster.
Check showed up, no problems or rate increases. Claims averaged $8-$10 k
Had Progressive off and on over the last 25 years and every time (including vehicle accidents that weren't my fault) They were always a pain in the arse, and tried to go cheap route with reman parts etc.
Posted on 3/23/21 at 4:10 pm to X82ndTiger
I looked up my old quote for my 20’ runabout that I have
Premium $450/year
500,000 liability limit
Hull value 16,000 with $500 deductible
Trailer value 2,000
Geico-Boat US
Premium $450/year
500,000 liability limit
Hull value 16,000 with $500 deductible
Trailer value 2,000
Geico-Boat US
This post was edited on 3/23/21 at 8:38 pm
Posted on 3/23/21 at 4:28 pm to X82ndTiger
I bundled with Geico
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