Boat Insurance Rates. Bored?

[Jennie@ifish]

Try this one and let me know. Pete said that State Farm is cheaper. How bout your boat? Bill is going to try it, later, and he is with Safeco, I think.
I haven't tried it, because I don't know all of the particulars.

Jen

[freespool]

I think Pete maybe right. State Farm is the cheapest I could find.


salmon hugger

[Old Salty]

Hey Guys,

We have looked at the prices for boat insurance
ourselves. And noticed that State Farm is the cheapest we could find. Let us know if this ones cheaper?
Old Salty


Troll down deep with
Old Salty Planers.

[sunshinefisherman]

I am with State Farm for boat, home and cars. I have $27,000 replacement value for about $52/month.

Last year, my 21' Duckworth Magnum had a close encounter with the bottom of the Clack up between Barton and Carver. :depressed: State Farm shelled out over $8,000 for a new bottom with only a few questions. I recommend them.

Replacement value is worth the extra $$ because boat values are sometimes difficult to nail dowm. Jet boats for instance have no "Blue Book." If you do not have replacement value insurance they may pro-rate your claim based on the estimated lifetime of the boat.

I also quoted with Progressive and they were around 50% higher. :shocked:

[skein]

I'm with BoatUS and while I haven't had a claim, I'm very pleased with the service - and cost. I'm covered in any US or Canadian waters, including the Big Tub. If you go offshore at all make sure your insurance covers you.

Skein

[Reel Premier]

I just got a quote from BoatUs for boat insurance on my sled and drifter, and they came back at $436 for the sled, and $130 for the drifter. Those are both yearly premium rates, covered in US and Canada, as well as the salt.

I then called State Farm, and they quoted me at $220 for the sled, and $110 for the drifter. Also covered in US, Canada, and the salt. Both quotes were for same agreed value on boats, and trailers, 5K medical, and 5K personal property. I won't mention names of the other six or seven insurance companies I had give me quotes, they weren't even close. State Farm all the way. :grin:

[Jennie@ifish]

That's good to know. I wonder why they are so much more expensive?
I know that I was with Allstate Auto for years, and then all of the sudden, they went sky high. I saved nearly 50 percent, by switching to another company. Weird!

Jen

[Miss B Haven]

You can't just shop by the loss coverage. Liability limits etc need to be considered.
"Boat" policies (by Home/Auto companies) may not cover environmental damage/cleanup if your boat goes down either. Boat US is coverage is more inclusive "Yacht" policy.
Small trailer boat owners can choose to not worry about this and save some money if they are willing to take a chance(What are the odds?). With a larger boat in a moorage the additional liability and environmental coverage is a must have. If your boat catches on fire a Million Dollars in liability won't go very far. That's just a couple boats on each side at my dock (and I'm NOT in the high rent district).

[Smily]

Funny Jen,
I had just got insurance with Allstate and they were the cheepest for me. Of course this was the end of the last year so maybe nect year will go up.

Auto insurance was up there but not to bad and switched to AIG. They have great rates, Give em a try.

:smile: Smily :smile:

[TheKing]

I am with Allstate for everything inculding the much overlooked liability umbrell. We comparision shop every year to keep them honest. They are the lowest by far.


The more policies you have with one company the better your rates are generally. Make sure you have riders on everything like guns, fishing gear etc for full value. Most people are shocked to find out how little insurance they have when they need it.

[Capt.D]

BoatUS all the way...75,000.00 boat insured for 400.00 year

[mtpar]

I did a check last year and have State Farm

Farmers was losing money so they now sub thru another insurer

mtpar :tongue:

[WheresMyBobber]

I have everything insured with the same company. I know my auto insurance is lower because my homeowners is with them also. In the past I've only shopped around for homeowners and auto. Have you folks found that you can still find cheaper boat insurance rates even if you don't have other policies with the same company?

[Smily]

WheresMyBobber,
Definately shop around. We have them spit up. It don't matter if you have all policies with one company or not. We split them between AIG for auto and All state with everything else. Home, Boat, etc.

:smile: Smily :smile:

[Jennie@ifish]

I guess Boat US adds with their boat insurance policy a membership to BoatUS, which has boat towing, free monthly BoatUS magazine, etc.
Miss B has a point, if you have a fire, too.

Guess there are lots of ways to look at it.

Jen

[wannacatchem]

I insure with USAA and they are half as much as the quote I got from Boat-US. Guess I'll stay with them

[WheresMyBobber]

I just got back my online quote from Boat US, and I can get better coverage for less money with my current carrier (Allstate). Thanks for the link, it always pays to check, but I'll stay where I'm at.
:smile:

[Pete]

I will have to review my current policy ... the better coverage from BoatUS may very well be worth the few extra bucks. Better to have full coverage than a big problem ... I hate it when my toes are exposed!

[Salmonator]

My boat US quote was substantially less than my farmers policy.

[FrogPond]

Should I have boat insurance on my drifter? It is pretty old, but in great shape. Since I never owed any money on it, I never considered getting insurance.

[Pete]

Even if you boat is an old drifter, insurance will cover you and your passengers if something bad happens. Consider what happens if you drop it on the freeway! Drifties insure very cheap, I wouldn't be without it!

[1eyed]

I will have to call and check, but my Allstate Policy was for complete replacement cost.

I don't think it is depriciated value

They were the cheapest for me a few years ago.

[5-Cents]

1eyed my Allstate agent told me that it is not a replacement policy and that Allstate does not offer one :shocked: Time to dust off the old policy disclosure and do some bed time reading

[Bluetick]

I have been shopping for insurance, boat us was Two Hundred nore then Boaters World. You can get quotes on line.
I can put 21,000 on the boat with 500 deduct
liability of 100,000
medical of 5,000 per person
uninsured boater 100,000
personal property 2500.00
towing assist 500.00
for 318.00 annually
I have more questions to ask but this sounds good.
Please reply if not.
Thanks

[Just A Little Chrome]

I have all my insurance with AMICA. They have no sales people..give great customer service and have great rates although I didn't compare for the boat. Good Luck!

[FishFood]

Great topic, Jennie. I'm glad to hear all this as I consider buying a boat appropriate for these waters. One thing I can say is that having multiple policies with the same insurer really makes a difference. We have USAA for multiple cars and it makes about a 10-15% saving. They won't cover my woodshop or we'd have homeowners as well, which would save another 5-10%.

The other thing is that USAA is a credit union, which can save you money (my wife's dad was in the military, which allowed us to join). You might want to consider if your work or service gives you the credit union option. Credit unions can't make a profit so rates are almost always cheaper.

Steve

[Salty Walty]

I have house, car and boat with Allstate. They are $84 less than BoatUs. They will knock another 10% off yearly after I finish USCG BS&S course. I will go over the policy for exact details.

[Jennie@ifish]

I don't get it. How come some are more, and some are less? Is it like car insurance with different deductibles?

Jen

[5-Cents]

I got a quote from BoatUS and it looks great compared to my Allstate policy. The big difference is the replacement cost -vs- a depreciation policy that Allstate offers. The BoatUS policy covers a specified face amount period. The Allstate policy only covers you for the depreciated value of your boat and motors which I am afraid is not sufficent to replace my boat if something happened, heck it probably would not even pay off the loan! That would be awful to still have a boat payment with no boat! :shocked: [img]graemlins/1zhelp.gif[/img]

I am waiting to get policy details in the mail but I am pretty sure I will be switching.

[Jennie@ifish]

Brought this up to let people try, again.
Jen

[justcastn]

All I can say is if you have a jet and you run river's make sure they cover the recovery of your boat. Just in case...Because that can be spendy!!!

State Farm has mine and it was the cheepest I could find...