I almost started a thread on insurance the other. I am debating about cancelling it. I have never used it, but have always had it (paid for it). I'm carrying 7730 on the boat and accessories, 5300 on the motor, 1200 on the trailer, 2500 on personal property, and 500 for towing/assistance. The deductible for each of the above ranges from 100 to 250 dollars. Overall, the annual premium is 126.00.

I've been paying for the coverage since 1995 on two different boats. So I could estimate that I've spent a little over 2,000 for coverage.

In trying to find ways to cut my budget, this is on the table. I would absolutely "go insane" if I paid for this coverage and my insurance company acted like that mentioned by the original OP.

So my question is.....I would like to know how many you in this forum do or do not choose to have coverage. It's not required by law, so for those of us that do its simply a matter of choice.

The real answer is most likely: If you have 5 - 10K in savings or reserves, paying for insurance is a bad choice. If you're like me and don't have that cash sitting around, it may be best to buy the insurance. I can't afford to pay cash for the damage and I can't afford to be without my fishing vessel until I can save the money to fix it.