Best Insurance Companies to cover boats - and do they cover catastrophic incidents like wrecking your lower unit?

[Bluebasser86]

I have Progressive and have had on all my boats. I've used it once when a bearing froze and wrecked my axle 80 miles from home. They sent a flatbed trailer, loaded the boat and the trailer onto the flatbed, hauled it all the way and dropped it off in the driveway, didn't cost me a dime. 

I can't remember the exact amount but I have crazy high coverage of my boat, property damage, liability, and injury, as well as 10k coverage of anything not attached to the boat (a lot of policies don't consider your TM "attached" since it can be easily removed and rods/reels/tackle aren't covered by a lot of policies), and it's all a very affordable $32 a month. 

[Ohio Archer]

I have Boat US on both my boats. With my new one I got a rider added for accidental damage to the lower unit. Added a few dollars (don't remember the amount) to the yearly premium. With the cost of lower units it was an easy decision.

BTW, Boat US in underwritten by GEICO Marine.  

 

[tcbass]

On 7/29/2016 at 10:39 PM, DubyaDee said:

Wear and tear will not be covered.  The rule of thumb for coverage is typically, 'sudden and accidental'. Don't skimp on bodily injury liability. There is no reason to have less than $500,000. That covers pain and suffering for the other party. You don't want your current and future assets to be at risk and in the hands of the legal system. 

 

 

 

 

Progessive has an option called "Propulsion Plus" which covers the outboard's lower unit, even from wear and tear. 

 

Does any insurance cover wear and tear on the outboard motor itself, like the starter?

[DelcoSol]

2 hours ago, tcbass said:

 

Progessive has an option called "Propulsion Plus" which covers the outboard's lower unit, even from wear and tear. 

 

Does any insurance cover wear and tear on the outboard motor itself, like the starter?

I highly doubt it. That would be a warranty item at best. My advise to you if you do not have any motor warranty is to plan on putting aside or having access to $2500-5k. These motors are extremely expensive to repair and will break. A buddy of mine just had to shell out 3k for a compressor repair and another had an injector go killing his powerhead for 7k. 

[mc6524]

Progressive does have propulsion plus coverage that does act like a warranty.  I have the insurance option

[S. Sass]

2 hours ago, mc6524 said:

Progressive does have propulsion plus coverage that does act like a warranty.  I have the insurance option

I believe I do as well the lady explicitly told me if I rip it off on a stump or it just fails from use its covered. It was one of the better reasons I saw to get it. 

[tcbass]

34 minutes ago, S. Sass said:

I believe I do as well the lady explicitly told me if I rip it off on a stump or it just fails from use its covered. It was one of the better reasons I saw to get it. 

 

 

Thx guys. With your advice I went with Progressive and got the Propulsion Plus lower unit coverage.