Boat Insurance

How many guys carry separate boat insurance? My 2000 Lund is probably worth about $7000 and State Farm wants $75 again this year.

Hate to break it to you but I don't think any company would cover that. Sounds more of a wear and tear then a comp or collision claim. You might have coverage for the towing if you had that on your policy.

Funny I stumbled across this today. A bearing blew on my trailer on the way to the lake last Sunday, had to get the Boat & Trailer loaded on a flatbed and towed home. I will find out today if Progressive will cover the damage. The bearing pretty much exploded, blew the rear seal out, destroyed the hub and spindle. 2005 Rolco customer trailer and they don't make the torsion/spindle component, so the next option is to find a complete axle!!!

I am paying 30 per year on a 30 yr old boat that the bank says is worth 600. I bought the insurance for the purpose of liability and realize I may not be compensated very much anything if the boat is damaged. Liability is important. If my trailer decides to unhook itself from my car I have at least some peace of mind, however small, for a relatively low price.

yes it is good to hav ins. i hit something 2 weeks ago and crapped up the lower unit. called ins company covered saved me about 900$ all for 50$ a year

Do Not Use Progressive. They wouldn't cover rodent damage on my boat because I don't use a cover for my boat. Any excuse they can find they do to avoid paying.

As a Liberal (in todays political climate) and a guy who had a fantastic experience with a $20,000+ boat claim from Progressive and cheaper premiums than others I'm happy, regardless of political platform. The bottom line is, as long as you're responsible enough to buy insurance it doesn't matter to me who you pay the premium to. What's aggravating is when a guy totals your rig and doesn't have insurance The state of Wisconsin has a law that if you don't have insurance and your at fault. You're responsible to pay back the damages to the other party until there "made whole". The state will pull and hold the at fault parties drivers license and registration until this is done! Wonder how long it will take a driver (with out insurance and at fault in an accident) to pay back a $20,000 boat claim and a $17,000 truck claim? Especially if they don't have a license and can't drive a vehicle legally? Buying Insurance is not only the responsible thing to do but is cheap when you consider the consequences.

I have $9,000 boat and I needed insurance in a pinch.I got it from Progressive fir the year.$140.This year they dropped it to $122.I just tried State Farm and they gave it to me for $85.I was surprised. I also heard that the guy who own Progressive is a big Liberal.Me being a Conservative didnt fit:>

Also, ALL boat owners should ask about "an agreed value policy" An agreed value policy will pay you back the amount you have your boat insured for should say.....some idiot driving 75mph in a pouring down rain looses control of his truck and hits / totals your boat at 4:30 in the morning while your on your way salmon fishing. And....he of course...doesn't have insurance You typically don't pay any additional amount for an agreed value policy. And God fore bid, if you ever have to use it, at least you will be able to replace it for the amount you have it insured for. No arguing about what your boat was worth, no discussion about depreciated value...they just write you a check. Having coverage on contents is also a must for most of us. Ever think about how much you've got in a trolling motor, poles, lures, safety equipment, locators, anchors, life jackets.....

Yes, buy it. Make sure you know what is covered though. I have equipment covered as well and keep all of my tackle accounted for in a spreadsheet that shows the value. A few years back some stuff was stolen and that was handy to pull out to show to the insurance adjuster on what the losses were. I was asked to verify the prices that I had listed so hanging onto those old Rollie and Helens, Cabelas, BassPro, etc. catalogs came in handy. A few weeks back a coworker of mine hit a log in the Mississippi River and damaged the lower unit on her boat. She was thought that she would have to eat the cost of the damages to get the lower unit replaced. After encouraging her to contact her insurance company to simply ask if damage like that was covered she found out that it was. Many people don't realize that this is an option or that they even have that sort of thing covered.

Buy the insurance! It's cheap. I would guess most owners that have anything have boat insurance. I would hope so anyway.

My Dad taught me years ago that there are two types of people in the world. The "haves" and the "have nots" and the "haves" better have good insurance. I completely agree, liability on everything you own is an absolute must. I even have a liability only policy on my campsite. How many of us have seen someone we know get in a minor fender bender and walk around with a neck brace on for year until they get their settlement - then all is right with the world.

Course I' in the ins. business, but at age 69 i've seen it all, well almost all. I tell all my clients that the most important thing is to protect your assets. the only way to do that is to make sure you have liability insurance on everything you own. Does not take much to be sued for 1 million these days, and on top of that even if found not at fault you still have a fortune in legal fees to pay without insurance coverage. Now the Umbrella policy for $120 to $175/yr is a small price to pay for that much coverage. Now as to covering your boat for physical damage, if you owe the bank on it they will almost always make you have this coverage because it protects their loan to you. If you have no bank loan, then it is entirely up to you if you want physical damage, theft, vandalism ect coverage. OH and by the way, as they all say, None This is Going to Happen to Me Anyway.

I pay a little more but have loss coverage on my boat with a $500 deductable and $300K liability. It don't take much these days for $300K to get eaten up in a single accident so I also have a $1M blanket umbrella policy also. This kicks in on homeowners, auto, and boat should the limits on those get reached. When I got the blanket they also asked that I raise my liability coverage on the homeowners and auto.

I think mine is around 85 bucks a year... For me the liability coverage is more important than the physical boat coverage. Many folks don't insure their boat or even carry liability. Imagine your pulling a skier or a tube and the person your pulling gets hurt or falls off and gets run over by some drunken fool without insurance. It has the potential to financially (and emotionally) bankrupt you. From my perspective, nobody should be on the water without being insured. Also, for about 130 bucks a year you can purchase a $1,000,000 dollar umbrella that kicks in should you run out of home owners, car, or boat insurance. Small price to pay for piece of mind.

I would for many reasons put your boats or 4wheelers on a separate policy. One being, most companies offer disappearing deductible. 2 if you have a claim it goes against your homeowners and if you have too many claims weather related or whatever you will be canceled. Then good luck finding coverage for your home for anything close to what your paying now. 3. Coverage, you get lot more perks when you have your boat insurance on it's own. There are many more reasons but those are the three big ones. Cheapest insurance isn't always better. $75 seems cheap enough but all depends on what you're getting for that $75.