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Lookin for some advice with Boat Insurance


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Winter is winding down and before we know it we will be slammin browns in skinny water. Bought my new boat last August and ran it the remainder of the season without any insurance. Really don’t want to think of the “unthinkable” but it does happen and I want to get insurance on it just for the piece of mind. 
   Just ran a quote from progressive for an agreed value and they came back at $1400 per year. Seems expensive and they didnt ask if theres a layup or anything. I know an agreed value is more.  
   Whats some other companys I should look into and what do some of you guys pay? Any imput is greatly appreciated 

 

thanks

Mike
 

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You'll probably need insurance coverage to get a slip and you want it for liability coverage just in case

 

Geico through Boat US

 

2001 26' PennYan

$401/yr

24,000 agreed value, 2500 on trailer, 5000 personal effects, 125 deductible

500,000 liability

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7 minutes ago, mudflat said:

You'll probably need insurance coverage to get a slip and you want it for liability coverage just in case

 

Geico through Boat US

 

2001 26' PennYan

$401/yr

24,000 agreed value, 2500 on trailer, 5000 personal effects, 125 deductible

500,000 liability

Excellant. Thank you. Thats what I’m lookin for.  Ive been in my slip a couple years without insurance, but there are some marinas that want to see insurance 

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1 hour ago, mudflat said:

You'll probably need insurance coverage to get a slip and you want it for liability coverage just in case

 

Geico through Boat US

 

2001 26' PennYan

$401/yr

24,000 agreed value, 2500 on trailer, 5000 personal effects, 125 deductible

500,000 liability

 

X2

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This is the quote I just got from BoatUs. Seems whenener I go online and get a quote there all over a $1000. So I took sk8man’s (Les) advice and called an agent. Statefarm just gave me a quote of $580 for 25k replacement value. 300k liability.  Now I’m gettin somewhere.  Thank you fellas

 

Edited by Hachimo
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55 minutes ago, Hachimo said:

This is the quote I just got from BoatUs. Seems whenener I go online and get a quote there all over a $1000. So I took sk8man’s (Les) advice and called an agent. Statefarm just gave me a quote of $580 for 25k replacement value. 300k liability.  Now I’m gettin somewhere.  Thank you fellas

 

Something wrong there. I have a charter insurance policy with a million liability through Boat US/Geico and pay less than that.

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I have my boat house and vehicles all bundled I pay 27 a month for 50k replacement cost and I believe it's a 1k deductible. I use a private insurance broker though.

Sent from my SM-G950U using Tapatalk

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I highly recommend contacting Larry Goltz for boat insurance. Larry is an avid boater with a fleet of museum quality classic and antique boats he’s personally restored. He’s an independent agent so he can tailor a policy to your specific needs from a large number of companies he works with. He understands insuring newer and older boats with lots of high value gear aboard.

 

Lawrence C Goltz | Producer

The WAYNE OAKLAND Agency

Insurance Since 1954

619 Enterprise Drive, Suite 200

Oak Brook  IL  60523

Office:  (248)649-6006

[email protected]

 

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Just remember that "Agreed Value" coverage protects just your boat if something bad happens but it's "Liability" coverage that protects

everything else that you own from the lawyers.

 

Make sure you are getting the right coverage not just the lowest price.

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Just remember that "Agreed Value" coverage protects just your boat if something bad happens but it's "Liability" coverage that protects
everything else that you own from the lawyers.
 
Make sure you are getting the right coverage not just the lowest price.

Great advice. I might add to be careful of “ actual cash value “ coverage. The insurance companies idea of what your boat is worth will be far different than yours. Get agreed value or replacement cost


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  • 2 months later...

Has anyone noticed the Increase in your Insurance premium per year at BoatUS ? Mine increased $131.00. Last year I paid $473 for the year, This year it's $604 for the same coverage. I called them and was told it was because of the unusually high claims made in NY and NJ for the last year.

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I called Urbanski and they wouldn't give a quote for just boat insurance. They wanted all or nothing. Their loss.

 

I went with my home/auto agency, Travelers. No complaints.

 

First year for boat insurance due to a 2021 slip at Bald Eagle so I can't compare previous years.

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Posted (edited)

Not just about what could happen to you but based on the Marina you are in if your boat has lines break in a storm and damages someone else’s boat or you hit someone coming into the slip you will want to be protected there too - not hard to do several thousand dollars in damage to someone else’s boat and then have to pay the entire amount out of pocket...

Edited by AnglingAddict
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