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Author Topic:   boating insurance

richardm posted 06-01-2002 09:36 PM ET (US)
What kind of policy is best for anew and infrequent boater-fisherman? is towing needed? does towing refer to towing in the boat if engine goes out? is this only needed in costal/large lakes? does policy only cover you as driver or what about family/friends?are some companies better than others with claim service? Thanks for any advice
DCPeters posted 06-01-2002 10:03 PM ET (US)
I get the following coverages:
(looking at my last policy)
boat and boating equip...as agreed (25K)
liability 300K
fuel spill liability 500K
med payments 500
trailer (none for me)
personal effects 500
uninsured boater 10K
whole thing cost $260/year on great lakes and tributaries. Boat US
DCPeters posted 06-01-2002 10:03 PM ET (US)
I get the following coverages:
(looking at my last policy)
boat and boating equip...as agreed (25K)
liability 300K
fuel spill liability 500K
med payments 500
trailer (none for me)
personal effects 500
uninsured boater 10K
whole thing cost $260/year on great lakes and tributaries. Boat US
B Bear posted 06-01-2002 10:13 PM ET (US)
Here is a thought, I just talked to a tow boat operator and found out that he charges $200 an hour for a tow or just to bring out some gas.
You can always hope that there are other boaters around that can bring you, but there are times when there is no one out there. It happened to me in the fall fishing when I had a I/O 5.7 ltr. Mercrusier that blew a diaphram in the carb, cost me $300 to get towed 7 miles. He charged from the time he left the dock to the ramp. He took plastic!
Bear
Jay A posted 06-01-2002 10:24 PM ET (US)
Best bet is to shop around locally. Another boater I know had his boat broken into this past winter and $14,000 worth of damage.He had Boat US coverage and had an awfull time with them. He had to do alot of the repairs himself because he could only get a partial settlement!As far as towing the boat at sea (or lake) TowBoat US: Unlimited towing for $99.00,Get$500.00per tow for $55.00,Get $350per tow for $40.00,Or get $150.00per tow for $15.00 annually It all depends how far you travel in your boat what plan is best for you. As far as towing your trailer is concerned,that should be covered with your trailer insurance. At least that's how it works here in Ma.
Don Fisher posted 06-02-2002 12:32 PM ET (US)
You might check out AAA too. I've been with them for over 20 years and their rates have always been reasonable and their service very good.
David Ratusnik posted 06-02-2002 08:12 PM ET (US)
With regard to the towing part of the post, SEATOW is a fine insurance to carry. $95 per year, can't beat it. Check your area for the most reputable towing company. Story- family were out boating on a nice day. Having sooo much fun kept going off shore. About 20+ miles out broke down. Cost $900 to be towed in by a tow service. Figure. .03 David
reelescape1 posted 06-02-2002 10:25 PM ET (US)
Jay...did they have the "yacht" policy???
DC...I have virtually the exact coverage with Boat US except...trailer and in SC...mine is twice that $$$$
Jay A posted 06-02-2002 10:45 PM ET (US)
I'm not sure on the "yacht" policy,but the main problem he had was for the insurance company to send an adjuster to determine damage. This damage was to a 30' sail boat, it was broken into in November. All his lines were either cut or burnt,all cabinet doors ripped off,all electronics smashed, main hatch ripped out, epoxy spread over all the woodwork. It took 5 months for them to cut a $7800 check for $14,000 worth of damage! He finally has got the boat in the water,but still is doing repairs when he has the cash.
DCPeters posted 06-03-2002 12:24 AM ET (US)
Reelscape...that's interesting.
I'd guess that your season is longer and you have those hurricanes to contend with.
I've had them since '88, and no claims so far. Also had a few Power Squadron courses...
State farm was nearly 4x higher last I checked, even though I have house and car with them.
whalerdude posted 06-06-2002 12:35 PM ET (US)
I am an insurance agent for State Farm.
I feel that we have an excellent boat insurance policy.
It covers all of the major perils.
It also covers towing and recovery of a sunken boat.
I recommend liability limits of $500,000
Cover the hull,engine,trailer,and accessories for at least the current market value.
Give your local State Farm agent a call.
You can find one at statefarm.com
I had fire damage to my Guardian 19 8 years ago. The claims people let me have it fixed at my Whaler dealer and the claim was handled beautifully. You need good insurance when you have a quality boat like a Whaler.
Whalerdude
David Ratusnik posted 06-06-2002 07:34 PM ET (US)
Whalerdude- I'm with your company. So far so good- no claims. Trust you will stick with me as per your experience. Price is in the ballpark. Tx. David
daverdla posted 06-06-2002 08:58 PM ET (US)
I also have a state farm policy for auto, home, boat and some of my business stuff. I've been with them for about 15 years. They've always been good to work with but not necessarily the cheapest. Can't use them for life because I have a pilot's license. Had to go to a specialty company.
Dave
bbutler241 posted 06-06-2002 10:33 PM ET (US)
I am have my homeowners through USAA. When I bought my 13' I was told that I would be covered for liability under my homeowners. They had a size cutoff. I think it was under 18', and you I did not need a separate liability policy. But I do not have any damage coverage.

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Author	Topic: boating insurance
richardm	posted 06-01-2002 09:36 PM ET (US) What kind of policy is best for anew and infrequent boater-fisherman? is towing needed? does towing refer to towing in the boat if engine goes out? is this only needed in costal/large lakes? does policy only cover you as driver or what about family/friends?are some companies better than others with claim service? Thanks for any advice
DCPeters	posted 06-01-2002 10:03 PM ET (US) I get the following coverages: (looking at my last policy) boat and boating equip...as agreed (25K) liability 300K fuel spill liability 500K med payments 500 trailer (none for me) personal effects 500 uninsured boater 10K whole thing cost $260/year on great lakes and tributaries. Boat US
DCPeters	posted 06-01-2002 10:03 PM ET (US) I get the following coverages: (looking at my last policy) boat and boating equip...as agreed (25K) liability 300K fuel spill liability 500K med payments 500 trailer (none for me) personal effects 500 uninsured boater 10K whole thing cost $260/year on great lakes and tributaries. Boat US
B Bear	posted 06-01-2002 10:13 PM ET (US) Here is a thought, I just talked to a tow boat operator and found out that he charges $200 an hour for a tow or just to bring out some gas. You can always hope that there are other boaters around that can bring you, but there are times when there is no one out there. It happened to me in the fall fishing when I had a I/O 5.7 ltr. Mercrusier that blew a diaphram in the carb, cost me $300 to get towed 7 miles. He charged from the time he left the dock to the ramp. He took plastic! Bear
Jay A	posted 06-01-2002 10:24 PM ET (US) Best bet is to shop around locally. Another boater I know had his boat broken into this past winter and $14,000 worth of damage.He had Boat US coverage and had an awfull time with them. He had to do alot of the repairs himself because he could only get a partial settlement!As far as towing the boat at sea (or lake) TowBoat US: Unlimited towing for $99.00,Get$500.00per tow for $55.00,Get $350per tow for $40.00,Or get $150.00per tow for $15.00 annually It all depends how far you travel in your boat what plan is best for you. As far as towing your trailer is concerned,that should be covered with your trailer insurance. At least that's how it works here in Ma.
Don Fisher	posted 06-02-2002 12:32 PM ET (US) You might check out AAA too. I've been with them for over 20 years and their rates have always been reasonable and their service very good.
David Ratusnik	posted 06-02-2002 08:12 PM ET (US) With regard to the towing part of the post, SEATOW is a fine insurance to carry. $95 per year, can't beat it. Check your area for the most reputable towing company. Story- family were out boating on a nice day. Having sooo much fun kept going off shore. About 20+ miles out broke down. Cost $900 to be towed in by a tow service. Figure. .03 David
reelescape1	posted 06-02-2002 10:25 PM ET (US) Jay...did they have the "yacht" policy??? DC...I have virtually the exact coverage with Boat US except...trailer and in SC...mine is twice that $$$$
Jay A	posted 06-02-2002 10:45 PM ET (US) I'm not sure on the "yacht" policy,but the main problem he had was for the insurance company to send an adjuster to determine damage. This damage was to a 30' sail boat, it was broken into in November. All his lines were either cut or burnt,all cabinet doors ripped off,all electronics smashed, main hatch ripped out, epoxy spread over all the woodwork. It took 5 months for them to cut a $7800 check for $14,000 worth of damage! He finally has got the boat in the water,but still is doing repairs when he has the cash.
DCPeters	posted 06-03-2002 12:24 AM ET (US) Reelscape...that's interesting. I'd guess that your season is longer and you have those hurricanes to contend with. I've had them since '88, and no claims so far. Also had a few Power Squadron courses... State farm was nearly 4x higher last I checked, even though I have house and car with them.
whalerdude	posted 06-06-2002 12:35 PM ET (US) I am an insurance agent for State Farm. I feel that we have an excellent boat insurance policy. It covers all of the major perils. It also covers towing and recovery of a sunken boat. I recommend liability limits of $500,000 Cover the hull,engine,trailer,and accessories for at least the current market value. Give your local State Farm agent a call. You can find one at statefarm.com I had fire damage to my Guardian 19 8 years ago. The claims people let me have it fixed at my Whaler dealer and the claim was handled beautifully. You need good insurance when you have a quality boat like a Whaler. Whalerdude
David Ratusnik	posted 06-06-2002 07:34 PM ET (US) Whalerdude- I'm with your company. So far so good- no claims. Trust you will stick with me as per your experience. Price is in the ballpark. Tx. David
daverdla	posted 06-06-2002 08:58 PM ET (US) I also have a state farm policy for auto, home, boat and some of my business stuff. I've been with them for about 15 years. They've always been good to work with but not necessarily the cheapest. Can't use them for life because I have a pilot's license. Had to go to a specialty company. Dave
bbutler241	posted 06-06-2002 10:33 PM ET (US) I am have my homeowners through USAA. When I bought my 13' I was told that I would be covered for liability under my homeowners. They had a size cutoff. I think it was under 18', and you I did not need a separate liability policy. But I do not have any damage coverage.