Tournament Boat Insurance

[tbirds00]

Just bought my first bass boat last month and was wondering how much it would cost to get insurance on it so i could fish FLW BFL tournaments with it next year. Its a 1985 Ranger 350v with a 150 mercury. Would it be possible to get insurance in the range of $20-30 a month or will it be more expensive than that?

Thanks

[J Francho]

I have $1M liability on my Bullet for $220. That's for the year.

[Sam]

Shop around.

There are two parts of a watercraft insurance contract you need to consider.

The first is your watercraft liability. I suggest at least $1,000,000 limits as the cost to go from $100,000 to $1,000,000 is not that much and you need the higher limits when on the water. The insurance company will also defend you and give you an attorney to battle any legal actions. This coverage protects your financial solvency.

The second cover is your physical damage and this can be more expensive than the third-party watercraft liability premium. Depending on the value of your boat, motor, trailer and if you want, your equipment, each insurance company will price the coverages based on their underwriting standards.

You will have to complete a watercraft liabilty application which will include questions about the waters and time of year you will be fishing.

Be sure that tournaments are included in the form. Each insurance carrier has differenct watercraft insurance policies and underwriting conditions so please question the agent about your needs.

Remember, you know what your monetary loss will be for the boat, motor, trailer and equipment. What you do not know is what your legal liability will be if you are negligent in causing an accident on the water.

One cannot just open the door and step onto the grass when on the water which makes the hazard a catastrophy when you have an accident with your boat.

Transfer the risk to a professional risk taker and go out and have some fun with out the worry of having an accident.

[RobertBG]

Shop around.

There are two parts of a watercraft insurance contract you need to consider.

The first is your watercraft liability. I suggest at least $1,000,000 limits as the cost to go from $100,000 to $1,000,000 is not that much and you need the higher limits when on the water. The insurance company will also defend you and give you an attorney to battle any legal actions. This coverage protects your financial solvency.

The second cover is your physical damage and this can be more expensive than the third-party watercraft liability premium. Depending on the value of your boat, motor, trailer and if you want, your equipment, each insurance company will price the coverages based on their underwriting standards.

You will have to complete a watercraft liabilty application which will include questions about the waters and time of year you will be fishing.

Be sure that tournaments are included in the form. Each insurance carrier has differenct watercraft insurance policies and underwriting conditions so please question the agent about your needs.

Remember, you know what your monetary loss will be for the boat, motor, trailer and equipment. What you do not know is what your legal liability will be if you are negligent in causing an accident on the water.

One cannot just open the door and step onto the grass when on the water which makes the hazard a catastrophy when you have an accident with your boat.

Transfer the risk to a professional risk taker and go out and have some fun with out the worry of having an accident.

excelent post and it is times like this that a good agent and a few extra $$ pays vs taking the cheapest quote

[Al Wolbach]

One point Sam may have not made clear is you need to know the value of the boat, motor, trailer and contents individually. The insured value of each is necessary in case only one is damaged or stolen, ie, your trailer stolen while you are fishing..........Al