Boat insurance

12/13/14 @ 6:28 PM
ORIGINAL POST
hook, line&sinker
hook, line&sinker
USER since 4/18/07
Hi, Thinking of changing my boat insurance along with home and auto. Presently with auto owners ins. Not good. Anyone have any thoughts about their company with a decent price. Thanks
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Displaying 1 to 10 of 16 Posts
3/2/15 @ 8:44 PM
RBel88
RBel88
USER since 1/25/13
So many good points here that it makes me want to call my agent and ask questions. Remember that the value of the boat has a major role in the cost of insuring. I have 3 automobiles,1 house, 2 rentals and 2 boats with Allstate. If something happened with one insured item and they raised my rates...they would be gone.

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3/2/15 @ 5:23 PM
hook, line&sinker
hook, line&sinker
USER since 4/18/07
Decided to go with Progressive Insurance. According to an agent an individual should have his boat insurance separate from the home and auto. The agent said if I had an accident with the boat my home and auto insurance would rise significantly.

Also learned that with the boat insurance you also have to insure your poles, electronics, anchors, etc. separately from the boat.

Thanks for everyone's comments on the subject. Went with West Bend insurance for home and auto.

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1/4/15 @ 3:19 PM
Plmlk
Plmlk
MEMBER since 12/18/07
Just keep shopping around HL&S...

I've been with my company for over 10 years, nothing major, but have had some ticky tacky type stuff. My wife and son both got speeding tickets (otherwise a perfect record), and I was in a partially "at-fault" accident. The accident only went down that way because the accident occurred in the city of Milwaukee, and they do not send a squad unless someone is hurt, or a vehicle is stuck in traffic. Long story short, it ended up my word against hers, so we were both assessed 50% at fault - that was really frustrating.

At any rate, my yearly premium has not gone up. When my oldest got his drivers license / own vehicle, our rates went up $50 per month. Thought that was reasonable for an additional vehicle and teenage driver.

Keep shopping...

Edited on 1/4/15 3:20 PM
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1/4/15 @ 3:07 PM
hook, line&sinker
hook, line&sinker
USER since 4/18/07
Not sure about the well known companies either. Had Hartford and after 1 claim they raised my rates drastically. Same thing with American Family. Had all kinds of problems with them. May go back to Amica as they were the best although their rates were much higher. Looked at all the ratings through JD Power Assoicates and other rating companies. Not sure how accurate the reports are.

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1/4/15 @ 11:40 AM
Plmlk
Plmlk
MEMBER since 12/18/07
That is a good point FF, but in today's economy, most of the bad companies are out of business. Today it is hard to find a mainstream company that does not have at least an A credit rating or better... Of the 1,000 companies evaluated by AM Best or Fitch only 55 companies have a rating of marginal or less, 100 received a rating of good, and 800 were rated A or better.

State Farm, Progressive, American Family, Farmers, Secura, Triple A, Aetna, Allstate, Empire, Farmington, Geico, Nationwide, the list of A or better companies is almost endless.

Shopping around with single carrier companies such as American Family, or your local independent insurance agent for companies like Erie, Metlife, or Secura will get you the best price.

Customer service on the other hand may be a different story, but from a financial perspective, you are pretty safe no matter where you go.

Edited on 1/4/15 3:09 PM
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1/4/15 @ 10:42 AM
fishfillet
fishfillet
USER since 1/8/13
I wouldn't worry so much about price. I would get insurance from the better companies. many of the companies that have cheaper rates and are not rated high, really jerk you around when it comes to making a claim. it takes forever to get your money and many times you'll get less than you should.

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12/26/14 @ 3:56 PM
eyesman
eyesman
USER since 1/7/02
My 16' deep vee runs $100.00 per year and my 14' jon boat $50.00 per year. Under my homeowners with liability, all peril and a collision type coverage. Should I hit anything in the water (rock, log or floating debris or another watercraft I am covered under collision type. All peril covers theft of the boat, motor or trailer as well as storm damage, towing mishap or other acts of nature. Liability the same as an auto type coverage and also is in force under the umbrella policy provision. Never had a claim in the 23 years I had the 16' vee or the jon boat so I can't attest to how good or bad the coverage would be. Also have my auto and business insurance with the same agent and company so sending them 15-20k a year should get me some agent support. the few claims I did have in the last 25 years with this company were handles quick and to my satisfaction, and then some. 4 wheeler cost twice as much per year as both boats, go figure, never a claim with that in 6 years.

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12/22/14 @ 10:38 AM
haf2fsh
haf2fsh
MEMBER since 6/23/01
Plmlk & Prop both have valid points about insuring your boat. Myself I prefer to keep everything with my local independent agent that I know and trust. I now have West Bend switched from Secura about 12 years ago, but nothing wrong with them. Hit a deer with truck about a month ago, called agent she told me to take it to body shop of choice. Half hour later while I was there got a call from West Bend claims adjuster telling me it had authorized the body shop to fix truck. Also while talking with insurance agent, we did a review of my policy, we did some changes that saved me over 200 dollar in premium. So it pays to review your policy every couple years, also..

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12/20/14 @ 7:25 AM
Plmlk
Plmlk
MEMBER since 12/18/07
Thanks CDS...

My Dad taught me that too...

Figured I was safe on here as only about 5 people know who Plum Lake is in real life.

For all anyone knows I could be Higgs lol....

Almost forgot cds, my buddy told me ole' Tichigan has 4" of ice. Might have to get out soon!

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12/19/14 @ 10:10 PM
cds
cds
USER since 9/18/01
Plum - I'll pass on a bit of advice several oldtimers with WAY more money than I'll have,have told me: never EVER admit to having an umbrella policy except for trusted friends and even then it's probably not a good idea.

For some reason,folks with good insurance get sued far more that people with just "enough" insurance.

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