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Insurance...What Do You Pay?
https://www.smwebhead.com/phpBB3/viewtopic.php?f=3&t=7089		 Page 1 of 3
Author:  mcclellandj [ Thu Feb 17, 2011 11:45 pm ]
Post subject:  Insurance...What Do You Pay?
So as an almost there boat owner, I'm looking around for insurance.

Full coverage:
Progressive: $489/yr
Geico: $388/yr (included a little more coverage than Progressive)

Just curious as to what everyone else was paying and if they know of any good companies to get insured by?

Thanks..this forum rocks!
Author:  230 Mike [ Thu Feb 17, 2011 11:59 pm ]
Post subject:  Re: Insurance...What Do You Pay?
About $600, but that's for an agreed value policy with no depreciation through BoatUS. Yes, it's a lot. I don't scrimp on insurance. Also, my boat is stored an hour away from home in an area that is secured only by it's remoteness and a single padlock.

If you stop and consider all the things that can go wrong when boating, you'll see that it's really not the same as insuring a car. Of course it also depends on what you paid for the boat, your ability to cover large losses out of pocket, etc.

Also consider your liability insurance. A large umbrella liability policy is a smart thing to have if you own a boat IMO, and doesn't cost much.
Author:  verpoort [ Fri Feb 18, 2011 1:26 am ]
Post subject:  Re: Insurance...What Do You Pay?
We purchased a brand new 2011 boat this past October. For whatever reason my auto/home insurance underwriter is not able to put the boat under my existing policies (I think it had to do with the horse power rating, 300HP). Anyways, as a result we had to get a separate policy just for our boat. We went with Progressive, our boat is insured for $43,000.00 which includes the boat, engine and trailer. Based on that information our annual with Progressive is $610.00. Of note, make sure whomever is insuring your boat has the correct horse power rating. Our agent wrote down something other than what we told him. I later discovered that he had our boat down having 350 HP opposed to 300, which actually made a bit of difference in price ($50.00 worth or so) Hope this helps.


Jim
Author:  aguyindallas [ Fri Feb 18, 2011 10:00 am ]
Post subject:  Re: Insurance...What Do You Pay?
If I recall correctly, mine is about $550.00/year for an agreed value policy. Mine is through Farmers (Foremost)
Author:  Boat Tech [ Sat Feb 19, 2011 3:13 am ]
Post subject:  Re: Insurance...What Do You Pay?
http://www.westmarinsurance.com/

I just recently bought insurance for my performance boat through westmar marine insurance services.

Before calling westmar, I did two online insurance quotes with both Boat US and progressive insurance companies.

Progressive online wanted about $50.00 more for much less coverage then westmar offered, And Boat US came back wanting $236.00 more going through progressive as well.

You might try giving Barry Paulsen a call, Barry helped me out with my boat insurance needs. Good luck.

Yacht Underwriter

Westmar Marine Insurance Services

Norman-Spencer

4226 Coronado Avenue

P.O. Box 208016

Stockton, Ca. 95208-9016

California 800-252-9597 ext.1338

All Other States 888-466-6402 ext. 1338

Fax 209-466-4515

INSURANCE YOU CAN BOAT ON!
Author:  07H200SS [ Sat Feb 19, 2011 4:06 pm ]
Post subject:  Re: Insurance...What Do You Pay?
Pregressive here also and paying $360/year on an agreed value policy.
Author:  cabwizard [ Sun Feb 20, 2011 5:27 pm ]
Post subject:  Re: Insurance...What Do You Pay?
Hi, I am paying just under $300 I changed from state farm to all state. H200 4.3 GXi 225hp .
Author:  robbo3 [ Sun Feb 20, 2011 8:49 pm ]
Post subject:  Re: Insurance...What Do You Pay?
Agreed value through Progressive for $260/year.
Author:  Lakebum [ Mon Feb 21, 2011 11:08 am ]
Post subject:  Re: Insurance...What Do You Pay?
$343 agreed amount coverage - United Marine Underwriters, Louisville KY.
Author:  taz42169 [ Mon Feb 21, 2011 2:31 pm ]
Post subject:  Re: Insurance...What Do You Pay?
I pay $360 (agreed value) through SeaInsure...
Author:  verpoort [ Mon Feb 21, 2011 2:34 pm ]
Post subject:  Re: Insurance...What Do You Pay?
taz42169 wrote:
I pay $360 (agreed value) through SeaInsure...


Man Im getting ripped off royal.
Author:  Cap'n Morgan [ Mon Feb 21, 2011 3:42 pm ]
Post subject:  Re: Insurance...What Do You Pay?
$302 per year with agreed value through Global Marine.It's actually a bit less than we were paying for
our 268 Vista 2 years ago. Not bad for a 31ft boat.
Author:  mco804 [ Wed Feb 23, 2011 11:35 am ]
Post subject:  Re: Insurance...What Do You Pay?
2007 H200 5.0GL 372/year with Boat US
Author:  saopm [ Wed Feb 23, 2011 3:14 pm ]
Post subject:  Re: Insurance...What Do You Pay?
Try http://www.nboat.com. I just bought a 28' Searay and went through them. Progressive wanted $830. Nboat cost $590 for a lot more coverage.
Author:  scotchwater [ Mon Feb 28, 2011 2:40 pm ]
Post subject:  Re: Insurance...What Do You Pay?
Pretty hard to compare policies without "apples to apples" on what boat is being insured. Would you expect to pay the same insurance for a 10 year old car worth $10K as a new Mercedes worth $100K? As much as I've heard State Farm thrown under the bus, they have insured multiple boats for me at a price I could not match from anyone. My agent tells me that I can pick how many thousands I want to insure my boat for (up to the value) and that's what my policy will be based on. If I pick too low to save money and total my boat, then I'll be paying the difference out of my pocket. I've insured my new boat for what it would cost to buy another identical new one (at a good discount) with full coverage for $490/year. When it gets a couple more years older, I'll go in and reduce what it's worth and lower my premium. Also, my boat is listed with 420 hp on my policy and makes no difference. My thoughts on insurance are, when you're a winner.....you're a loser.
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