Boating Insurance

[DJ]

Does anyone have any ideas on how to insure a boat under "reconstruction"?

The local agent wants the same rate whether or not the boat ever sees water.

NO, it's not covered under homeowners!

 

[Scaaty]

Re: Boating Insurance

I have 3 boats and 6 bikes usable..BUT, I don't/can't use them all at one time. I have State Farm. I put some of the bikes in "Storage". $40 a year. It will cover fire/theft/etc. Boats, keep them all up (as I need to for the slip rules, and never know which one will hit the launch ramp), but I just insure for what I would want back if something happens, plus Liability. If I was to work on one, I would just put it in "Storage"..and thats , well, probably $40 a year.
Might need to look at someone new, and a new company. Its pretty cut-throat...ya just got to let them know you will take you business elsewhere..

 

[DJ]

Re: Boating Insurance

Scaaty,

My company is the same as yours. They want nothing to hear of just "storage".

Time to look, I guess.

Thanks.

 

[Scaaty]

Re: Boating Insurance

Do they let you insure it for what YOU want, or do they go by some BS NADA price?
My agent lets me name the value..
Maybe run it by a competing SF agent..

 

[newbie4life]

Re: Boating Insurance

Do they let you insure it for what YOU want, or do they go by some BS NADA price?
My agent lets me name the value..
Maybe run it by a competing SF agent..

You can name any value you want.... doesn't mean you'll get that value in the event of a loss. The adjuster will go by Nada/Edmunds/Kelly book values, add on whatever you put on the boat, and come to a 'logical' settlement.

If you have a boat that's worth $2500, and insure it for $7000, good luck. All it means is you'll have a higher premium to pay, and it means nothing when it comes to a loss. If your boat REALLY is worth the $7000, then take lots of pictures, document everything you've put into it, and then at least you've got some proof for the adjuster.

I've been around the block a time or two on this.

 

[tashasdaddy]

Re: Boating Insurance

i have the chris craft covered with Farmers. they rest under the homeowners.

 

[Tyme2fish]

Re: Boating Insurance

I've got boat, vehicles, and home all under one company. Plus an umbrella policy.
I hope there's no way in heck they can say, "Your other insurance carrier is liable for that loss."

 

[SpinnerBait_Nut]

Re: Boating Insurance

Scatty and newbie4life, I just deleted 3 posts that had some name calling in them.
We don't do that here.
Let's be nice.