Boat insurance..any ideas.. company suggestions etc.????

[Bassnajr]

Hey all...

I am looking to insure an older 17' Fisher bass boat with a 25 hp Mercury engine. I have never had boat insurance before and was wondering what the procedure is. Can anyone suggest a company? What should I be paying per year? Any companys specialize in just marine insurance?

Thanks for your help in advance!

ajr

[Hot Rod]

I have Progressive that seems to be very competive.  It includes road side assistance and the disappearing deductible (your deductible goes down each year you don't have a claim).

It is less than $200 for a year on a $20K boat.  It inlcudes collission and the liability limits needed to compete in tournies.

I've had other companies try to get me a better rate but so far they haven't been able too.

[tkite16]

Agree progressive

[Al Wolbach]

You may want to check with Farm Bureau. Excellent claims service and good rates in this area. I have home, vehicles and boat with them and no complaints......................Al

[Sam]

It all depends on the terms and conditions of the contract.

Some insurance contracts will pay the replacement cost of the damaged boat.

Others will pay the actual cash vaule.

Be sure that the company can include additional coverage for your equipment and accessories.

As for Third-Party Liability, may I suggest $1,000,000?

The premium difference between $300,000 and $1,000,000 is small and you need the maximum amount of Third-Party Legal Liability as you are operating your boat in a foreign environment and strange things can occur on the water due to your negligence.

As for carriers, Progressive, State Farm, Nationwide, Farm Bureau and others will give you quotes.

Be sure to have the value of the boat, motor and trailer, plus any additional accessories and equipment listed on a sheet of paper so you can ask for the same limits from all agents.

Should you have been an officer or non-commissioned officer in our military then go to USAA.

Just remember, you can guage your property damage as you know your maximum possible loss for the boat, motor and trailer, but your Third-Party Legal Liability is one aspect of your coverage that cannot be predicted so I suggest the highest limits you can obtain to protect your financial solvency.

The same is true for the operation of your motor vehicle.

And thank you for taking care of your social responsibility to the public from the operation of your watercraft.

Have fun and don't be concerned with having an accident as you will have transferred this risk to a professioinal risk taker who will provide a free defense to you and pay any judgments against you arising out of the operation of your watercraft.

[tntitans21399]

One thing to remember is most, if not all, do determine your price by your driving record.  Even thou driving on the water is a lot different on the road, that is what they base it on.

I have Nationwide, and because I have a lot of speeding tickets it might be more then most, but I pay 21.25 a month.  Nationwide was one that let you pay monthly, while a lot of them make you pay the whole amount up front.  They do that because a lot of people will stop paying during winter months and then reactivate during the summer.  My coverage covers liability and uninsured motorist.  You can add more coverage to cover your electronics and fishing gear, but I'm not sure how much more that is.

When you get insurance they usually need the hull vin number and the motor serial number, the length, horsepower, make, model, and year.

[TopDog]

Hi Ajr,

I use skisafe.  http://www.skisafe.com/

I ve never had to really use them for anything (knock on wood) but they were cheap and Gor soem good reviews. Even if you do not use them, Go online and get a free quote.