Boat Insurance? Who Do You Use?

[ctf58]

Looking for boat insurance. Last year I tried to go with State Farm. Paid the premium and got a binder in about October I got a notice that the paperwork had not been completed correctly and was refunded a portion of my money. The agent I was dealing with was about 80 years old and I had to take him my information 3 times. But he quoted me like $180.00 a year for coverage on the boat, motor and trailer with $2,000 for tackle and electronics.

Now I'm shopping again and Progressive wants $300+ to what looks like comparable coverage. I've read several other forums and post where people are getting insurance for about $200.

I ran my credit score through 2 of the 3 services and it is very very good and I've not ever had an accident.

My boat is worth about $9,000

150 Merc Motor about $7,000

Trailer about $3,000

tackle and electronics $2,000

So my question is who do you use and why? Also what should I ask for in the policy that might not be a standard service?

[zip pow]

You need my state farm agent my policy cost 25$ a month 125$ deductible 25000$ of coverage split between boat and contents

[slonezp]

State Farm insures my boat, car, home. Boat, motor, and trailer are insured for what I paid for it, so on a total loss, I get what I paid for it. I think I have $5000 on contents. Not sure what the liability $ amount is. Knock on wood, never had a claim on the boat, car or home so who knows if it's any good.

[ctf58]

Just got a quote from a different State Farm agent $387.00!!!!!! How can 2 state farm agents 4 blocks away from one another be $200 different for the exact same coverage?? And that was with a $500 deductible. This agent claimed that she insures boats all the time but said that she could not figure it as separate pieces ie.. hull, motor, and trailer. She wanted a grand total value.

P.s. 116 views and only 2 replies??? thanks Zip pow and slonezp

[Diablos]

I have Progressive and pay $160/year for a boat/motor/trailer $7500 value and $1500 in tackle. I'm not sure of the exact splits but it's decent coverage with towing.

[scrutch]

I use progressive, never hd a claim so I don't know how good they are. Check BoatUs. I hear they're pretty good.

[Sfritr]

X2 on State Farm. However, my boat policy is listed in Northern Michigan, Oscoda to be exact. I currently live in Cincinnati. May need to switch also. The policy was held there because it was cheaper due to it being a boating area. Not sure if that is true in your neck of the woods.

[slonezp]

just checked my policy. 100k liability 7k in contents for under $300 a year.

[ctf58]

just checked my policy. 100k liability 7k in contents for under $300 a year.

Who you with?

[Stingray23]

Does Geico have boat insurance?

[slonezp]

Who you with?

State Farm for my boat truck and home.

[ctf58]

I checked Boat US, they were competitive and they have an "Agreed Value" policy, but they also have a clause that says once

'Depreciation also applies to outdrive units, outboard motors, and gel coat beginning with the sixth year from the year of manufacture, and to internal machinery beginning with the eleventh year from the year of manufacture. In the event of damage to plywood, plastic, fiberglass, metal, cement, or other molded material, we are obligated to pay only the reasonable cost of repairing the damaged area." That would mean that on my 14 year old boat my policy would immediately depreciate a large % of what it is written for on the motor/lowerunit. So far most "home and auto" type companies have not had a clue and I find exclusions in their policies that I do not like. Right now I'm leaning towards World Wide Marine. They are just a little higher than I would hope for, but their policy looks really good and the "Agree Value" is just that, no depreciation. they also have vanishing deductible, so go 4 years and the deductible is $0.

Keep the comments coming, I have learned a lot. Thanks to all for the replies

[J Francho]

I'm insured for $11K to replace my rig, and $1,000,000 for liability. It's around $200 per year, and rolled into my homowners/car/boat coverage.

[ctf58]

Went with world wide marine. Costing me about 300 but the coverage looks better than the others. I'll keep looking if I find the same for less I'll move.

[Procious]

Yes Geico offers boat insurance.

I went with Allstate b/c they insure everything else I own and when I shopped around they offered me the best deal on price and coverage.

[backpain...]

I use Allstate as well. I get a discount because of my auto, renters, and boat policies.