Boat Insurance

[Steuben Jerry]

For the boat owners; what kind of insurance are you running on your rigs?

I picked up that 18 ft fiberglass with 125 O/B this week, and want to put at least liability insurance on it so I don't get sued if something happens. The last boats I had were small aluminum boats that I didn't bother insuring. The last insured boat I had was a 20 footer back in the 90's that I had a bank loan on and had whatever the bank required at the time (no loan on the current boat). Low book value on current boat is $6800.

I'll call my agent later today but thought I'd ask here for info. 

What liability limits?

Collision or loss protection?

[cbyzerman]

I just combine it with my progressive car insurance.....  It is only like $380 for the year for my 19 ft proline.......... For years I did not even insure it but some marinas are really cracking down on that.........

[ApexerER]

My boat is insured through State Farm with my Auto's, home, snowmobile etc. I am not sure what it costs alone, its one big bundle that I pay 1 bill for monthly. I remember when I insured it I was only going to get liability but the cost for Collision/comprehensive was so little I felt it was stupid not to take it....

Good Luck with the boat!

[The_Real_TCIII]

Good question. I just have a 16' tiller steered aluminum but wonder should I have coverage?

[cbyzerman]

34 minutes ago, The_Real_TCIII said:

Good question. I just have a 16' tiller steered aluminum but wonder should I have coverage?

I never even thought about it with a boat my worth but what if I did lose control and put a hole in one of those yachts   or someone hit me and blamed me.....  For $400 it is totally worth it.........    Lady told me at marina that and uninsured boat came in to use transient slip and the guy had no idea what he was doing and literally hit like 4 boats...  It was a huge mess........

[Steuben Jerry]

I go through Allstate for home, auto, and ATV ins. They've always treated us very well. Just got a quote for $176/yr for $500k liability, collision and loss, and $2500 personal property aboard the boat.

Surprisingly inexpensive!

[BigVal]

I insured my last boat with progressive for about 300 per year, my 18 ft aluminum isn't insured

I was also 19-21 years old so it was probably more expensive for me 

Edited June 21, 2019 by BigVal

[Nytracker]

I had  my boat insured it was 375 a year .Covered  boat, trailer, passengers ,  and a rider up to 10k on my personal property. Rider covered radios fishfinders down riggers  trolling motors and gear.  Also. Overed up to 100k , liability. That was back in 2000 or so. 

Look hard at what your buying . As far as coverage for passengers  and  liability.  Replacement will be the least of your worries  if somebody gets hurt.

Edited June 21, 2019 by Nytracker

[moog5050]

If you carry an umbrella liability policy, that policy will require certain minimums for your primary policies.  If it’s all through the same carrier, you should be set.  

[Steuben Jerry]

2 hours ago, Nytracker said:

I had  my boat insured it was 375 a year .Covered  boat, trailer, passengers ,  and a rider up to 10k on my personal property. Rider covered radios fishfinders down riggers  trolling motors and gear.  Also. Overed up to 100k , liability. That was back in 2000 or so. 

Look hard at what your buying . As far as coverage for passengers  and  liability.  Replacement will be the least of your worries  if somebody gets hurt.

I agree. The 500k liability was the max they had, and only 20-ish bucks to go from $100k to $500k. 

[Steuben Jerry]

2 hours ago, moog5050 said:

If you carry an umbrella liability policy, that policy will require certain minimums for your primary policies.  If it’s all through the same carrier, you should be set.  

Yup, everything through Allstate. Been with them for probably 30 years. I’ve shopped them around a couple of times, they’re usually not the cheapest, but they’re among the lower cost insurers and the service has been stellar.