www.iFourWinns.com

Any one insured with State Farm?

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2007 358 T-5.7GXi IB
Previous Boats
'08 H240, '08 V318, '04 268, '04 225

Yeah, I got State Farm insurance for my boats. It appears to be negotiated value insurance with an initial amount equal to the purchase price.

2. Policy limits for
a. liability? $300,000
b. uninsured/underinsured boater? $300,000
c. property damage? Part of Liability amount $300,000
d. medical? $5,000 per peson
e. hazardous material/fuel spill? ???
f. contents? Not certain. I believe it's either part of Boat/Equipment or hits Homeowners policy.
g. Values- (Initial coverage amount equal to purchase price $26,800 boat, $2,200 trailer)
h. deductible? $500.00
i. emergency towing? ???
3. Yearly premium for boat policy? $172.00 (I have Safety Certification discounts).

Looks like I need to review a couple items with my Agent, and possibly pump up the value.

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2007 Horizon 200
4.3L GXi/ SX 225 HP

Im with NBOA which uses American Bankers Insurance Company of FLorida to underwrite my policy.

Agreed value policy with $2672 (10%) deductible $910.00
Personal Property $250.00 deductible included
Emergency towing $1000.00 included
Liability $500k $210.00
Medical payments $10k included
Uninsured boater $500k included
Total annual premium $1120.00

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2008 Four Winns V358 (T 6.2L Merc Bravo III's with DTS and SeaCore)
2006 Sea Ray 340DA
2006 Sea Ray 320DA
2005 Maxum 3100 SE

Don't forget to consider getting an additional umbrella liability policy from your home or auto insurance. These are among the most inexpensive add-ons you can get. But if/when your main policy runs out the umbrella can help pick up the difference (of liability claims, not deductibles of course).

Think about how expensive it would be if, for some reason, your boat struck another REALLY expensive one loaded with passengers.... $500k disappears in the blink of an eye. The next thing you know your house gets sold out from under you and still doesn't cover the damages. It'd make paying that umbrella premium seem like pocket change.

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-Bill Kearney, 2005 348 Vista

It's costing me $261/year for about the same liability limits as Jim R, with State Farm. I do not have any certification discounts, and I'm insuring it for 30k, 27 for the boat and 3 for the trailer.

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2007 358 T-5.7GXi IB
Previous Boats
'08 H240, '08 V318, '04 268, '04 225