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I carry ins. on a $5,000.00 bass boat. The ins. costs $160.00 a year. The policy has a $50,000.00 liability and $1,000.00 medical for each person plus a $100.00 deductible. The policy also covers for loss of property and damage. I am going to remain insured, but this policy goes up a little every year and I've never made a claim. I was just wondering what everybodys outlook on boat ins. was and trying to compare prices. Thanks.
I pay around 250 a year on insurance. I initially thought it was pointless... However, I hit a stump on barren river lake that did a number on the lower unit. It had to be completely rebuilt. Total damage $3,500 on a year 2000 90hp Johnson. I had a $500 deductable and the insurance company took care of the rest. I have not made another claim in 3 years, but will keep coverage in case that situation ever comes up again. That was with progressive. I recently traded boats and progressive and some other were going to double in price so now I carry Marine Underwriters, I haven't had to use them and I pray I don't
Also, if you ever fish any tournaments - most tournaments that I know require you to have coverage.
[QUOTE=stickbait;318881]I carry ins. on a $5,000.00 bass boat. The ins. costs $160.00 a year. The policy has a $50,000.00 liability and $1,000.00 medical for each person plus a $100.00 deductible. The policy also covers for loss of property and damage. I am going to remain insured, but this policy goes up a little every year and I've never made a claim. I was just wondering what everybodys outlook on boat ins. was and trying to compare prices. Thanks.[/QUOTE]
There is a Boat Insurance link on the site that pays us if you fill out a survey I think. Apparently a lot of people have been using it because we have been getting a good number of payments... so you hopefully some of the guys here can tell you if they were cheaper for the same coverage.. I think it is Boat.us
[QUOTE=stickbait;318881]I carry ins. on a $5,000.00 bass boat. The ins. costs $160.00 a year. The policy has a $50,000.00 liability and $1,000.00 medical for each person plus a $100.00 deductible. The policy also covers for loss of property and damage. I am going to remain insured, but this policy goes up a little every year and I've never made a claim. I was just wondering what everybodys outlook on boat ins. was and trying to compare prices. Thanks.[/QUOTE]
I have ins. with Progressive on my 03 Tracker with full replacement. It started out at 225 a year but has droped to about 175 because I have never turned in a claim.
rustedhook
It's worth it. Most cover your tackle as well.
[QUOTE=stickbait;318881]I carry ins. on a $5,000.00 bass boat. The ins. costs $160.00 a year. The policy has a $50,000.00 liability and $1,000.00 medical for each person plus a $100.00 deductible. The policy also covers for loss of property and damage. I am going to remain insured, but this policy goes up a little every year and I've never made a claim. I was just wondering what everybodys outlook on boat ins. was and trying to compare prices. Thanks.[/QUOTE]
I think that's a lot for some pretty poor coverage. $1000 medical probably wouldn't cover the visit to the emergency room. The $100 deductable is very pricey. It would be good to read the policy very closely. Here in Indiana the insurance Value of a boat/car totals out at the Wholesale value. Though you may value the boat at $5000 the INS payout may only be $2500.
The $50,000 liability is not a lot, If you happen to run into somebody that money is gone pretty quickly. I'd be looking closely at some other policies.
If you want to lower your payment, increase your deductible. I try to keep all of my deductibles at $1,000 or more. While it hurts if you have to pay it, I want the insurance to cover major problems. I'll handle the ordinary issues.
This topic was posted on another board and I believe most were with State Farm, but others swore by Nationwide, Progressive, etc.. You will generally get the best deal if you get all of your insurance in one place as most carriers will give you what's called a multi-line discount. So, don't just shop boat insurance, have them quote it all together (auto, homeowners/renters, boat, maybe life). Also, find a company that is strong and stay with them. That way if you have a claim, your subsequent premiums won't increase as much as you are a long time customer. Of course if you have a lot of claims, you'll have issues with any company.
I was down at Barkley State Park marina last fall and they will not rent you a slip unless you have insurance with at least $300,000 liability. They are worried about your boat starting a fire or something and hurting other boats.
We pay about $200/year with State Farm.
I have progressive, and so far I like it. I know if you really want to lower your rates, you can raise your deductible. $100 deductible is kind of low. You can probably get a pretty good cut in your rate by raising that to $250. Anything much under 250 is not really worth the hassle of dealing with insurance and making a claim. $160/year is a great price though. I would be thrilled paying that.
Know your policy too. There is a lot of fine print. I have coverage for tackle and gear. However I have to prove they were locked and there was forced entry to claim it.
[QUOTE=bevo;318897]It's worth it. Most cover your tackle as well.[/QUOTE]
Double check to make sure contents are covered. I had insurance with Allstate and my boat "sank" at the dock in Canada after a storm.
I bailed the boat out and the big motor never went under water. We continued to fish thru out the week. Lots of equipment was washed out and lost during the storm.
Allstate would not cover this, saying the items were contents and not part of the boat and motor.
So add up your rods,reels,tackle, rain gear,GPS, trolling motor, etc and make SURE they are covered.
I have shield of shelter. Complete replacement- not a "what it's worth but replacement on a 95 procraft. Includes non insured boater for 10k and medical -personal for 10 k . no locked/forced entry. $182 per year, but the old man had a full operational farm with them so they hooked me up.
Also Grange has very good boat insurance.