Who Has the Best Boat Insurance?

[dingbat]

Re: Who Has the Best Boat Insurance?

I have State Farm. I tore up a prop last year. I had no issues with filing/collecting on the claim. My rate is $26.30/month for full coverage.

The devil is in the details

Define "Full" coverage. Agreed Value? Actual cash value?

My homeowners insurance automatically covers any boat 16 feet or less with an 85hp or less motor with a full liability policy.

How much is "full" liabilty? How much fuel spill liabilty?

 

[halfmoa]

Re: Who Has the Best Boat Insurance?

The devil is in the details

Define "Full" coverage. Agreed Value? Actual cash value? How much liabilty? How much fuel spill liabilty?

We (the agent, wife and I) agreed upon $2500 as the value of my (read: her) boat and contents within...which is probably $1500 high but when I said $1000 he suggested $2500 as the value because I would, of course, want to replace it with something and a grand doesn't go very far. If I recall the liability was $500K...predefined value. In the case of fuel liability...honestly I didn't know to ask about fuel spill liability at the time. I shall check forthwith.

 

[halfmoa]

Re: Who Has the Best Boat Insurance?

We (the agent, wife and I) agreed upon $2500 as the value of my (read: her) boat and contents within...which is probably $1500 high but when I said $1000 he suggested $2500 as the value because I would, of course, want to replace it with something and a grand doesn't go very far. If I recall the liability was $500K...predefined value. In the case of fuel liability...honestly I didn't know to ask about fuel spill liability at the time. I shall check forthwith.

Apparently my boat has liability ONLY...they have no record of my boat being added to the policy. I said, "That's odd, I've been paying for it," but my agent isn't in the office today. The agent I spoke with said the fuel liability is covered within the $500K value.

Ticked off and glad I called at the same time...weird feeling.

 

[Thalasso]

Re: Who Has the Best Boat Insurance?

WOW a $2000 deductible?? NO thanks!

It is like car ins. The higher the ded. the lower the policy cost. $2000.00, isn't squat.I don't intend to sink my boat or damage it.

 

[dingbat]

Re: Who Has the Best Boat Insurance?

Apparently my boat has liability ONLY...they have no record of my boat being added to the policy. I said, "That's odd, I've been paying for it," but my agent isn't in the office today. The agent I spoke with said the fuel liability is covered within the $500K value.

Ticked off and glad I called at the same time...weird feeling.

You may want to ask him it's a "agreed value" or "cash value" policy. There is a big difference on how they pay out should something happen.

 

[halfmoa]

Re: Who Has the Best Boat Insurance?

You may want to ask him it's a "agreed value" or "cash value" policy. There is a big difference on how they pay out should something happen.

Thanks for the pointers man!

At this point I'm more concerned as to why I'm not getting the coverage I'm paying for. Some things need to be done face to face and this is one of those things.

 

[cyclops2]

Re: Who Has the Best Boat Insurance?

I do.

Covers what I want covered, at the lowest price, from a long time company.

It is the best.

 

[lingcod]

Re: Who Has the Best Boat Insurance?

I had progressive for a couple of years. someone stole my 1977 kicker motor. I called them to see if it was worth filing a claim. $500.00 deductible. didn't end up having them pay out and on the next renewal my rates doubled. when I asked why, they said I filed a claim. I explained that I simply made a phone call to inquier about something and I was told that THAT phone call started the claim process. I am with State Farm now.

 

[ckalupa]

Re: Who Has the Best Boat Insurance?

I presently cover my two boats (31' cruiser and 20' bass boat ) with Progressive. Just got the renewal. Checked out BoatUS rates and they were less than half the cost of Progressive for what appears to be the same coverage (maybe even more coverage with the environmental disaster coverage included). Never had a chance to talk with anyone on how claims went though. I am certainly looking to make a switch with these differences

 

[billyman]

Re: Who Has the Best Boat Insurance?

I'm an insuance Nazi and aggressively shop insurance rates every chance I get; not because I like to, but I know there's no benefits in brand loyalty when it comes to paying for insurance. That being said I can say that if you have a good driving/boating record and are financially responsible (good credit scores), Travelers has been consistently lowest for me. I have shopped Boat US, Geico, Progressive, Allstate, Farm Bureau and others and they can't beat them. Ofcourse, I can only speak for myself, but you may want to give them a call. Good luck!!