Boat ins.?

[stickbait]

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.

[pastorbass]

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.

[fishbum]

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.

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

[rustedhook]

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 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

[bevo]

It's worth it. Most cover your tackle as well.

[Tyme2fish]

It's worth it. Most cover your tackle as well.

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.

[MSD]

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.

My brother had all his rods, reels, and tackle boxes stolen from his boat while we were away from the boat for a few minutes. His boat insurance (not sure which insurance co.)would not cover any of his losses, he was able to recoup some of his losses by filing a claim with his homeowners insurance. He later found out that they would only cover original equipment and not any fishing equipment or any other items which were not original equipment. I still don't understand how fishing tackle is not covered equipment in a fishing boat. Insurance companies just want our money; I trust them about as far as I can throw them.

[Fishin_4_Fun]

Limits of $10,000 on medical and $10,000 property damage is hardly any coverage at all. If you have any assets, or a good income, and you cause an accident, when your limits are reached, the injured, along with the injured's lawyer, could become the new owner of your assets, and you will be working for him when your check is garnished to pay his medical costs, or his property damage.

Recently I've heard several accounts of that happening in automobile accidents where the person at fault only had $100,000 per person, $300,000 per accident medical coverage. Many recommend carrying a minimum of $250,000 per person, $500,000 per accident, unless you don't own anything, and don't work. It's also highly recommended that you carry $250,000 and $500,000 on underinsured, and uninsured motorist to cover your own medical costs, if someone injures you in an accident that doesn't have insureance, or has a low limit for liability. $100,000 runs out quickly paying for medical costs when surgeries are involved, and you could end up paying out of your pocket.

[wkerber]

Limits of $10,000 on medical and $10,000 property damage is hardly any coverage at all. If you have any assets, or a good income, and you cause an accident, when your limits are reached, the injured, along with the injured's lawyer, could become the new owner of your assets, and you will be working for him when your check is garnished to pay his medical costs, or his property damage.

Recently I've heard several accounts of that happening in automobile accidents where the person at fault only had $100,000 per person, $300,000 per accident medical coverage. Many recommend carrying a minimum of $250,000 per person, $500,000 per accident, unless you don't own anything, and don't work. It's also highly recommended that you carry $250,000 and $500,000 on underinsured, and uninsured motorist to cover your own medical costs, if someone injures you in an accident that doesn't have insureance, or has a low limit for liability. $100,000 runs out quickly paying for medical costs when surgeries are involved, and you could end up paying out of your pocket.

Another way to go is to keep reasonable limits on your policies and then buy an umbrella liability policy. I did that and I think I pay about $250/year for $1M in liability coverage.

[Fishin_4_Fun]

Yes, if you have considerable assets, an umbrella policy is good to have.

[dc chopper]

My boat is in the old mans name (bought it during a divorce and didn't want any issues) he's on disability so no problems there. I carry 500k across the board on my personal vehicle through Grange @ 46 per month.

[billm_usa1]

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 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.