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Author Topic:   Boat Insurance
timbo posted 10-08-2002 10:04 PM ET (US)   Profile for timbo   Send Email to timbo  
If anyone could please tell me a company or post a link of good affordable boat insurance that would be great thanks alot.
Morocco posted 10-09-2002 01:22 AM ET (US)     Profile for Morocco  Send Email to Morocco     
BoatUS was where I finally landed after checking out all kind of companies -- however, I haven't had to make a claim, nor do I want to...

jameso posted 10-09-2002 09:33 AM ET (US)     Profile for jameso  Send Email to jameso     
Would try the Co you have auto or homeowners with first, State Farm did a good quote for me based on an actual dollar amount, i.e. $4000 coverage as opposed to the 'book value' of a mid 80's Whaler.
Jim Armstrong
tabasco posted 10-09-2002 09:48 AM ET (US)     Profile for tabasco  Send Email to tabasco     
Try Progressive .......gave me a good price and covered the over HP issue in the policy.
tabasco posted 10-09-2002 09:49 AM ET (US)     Profile for tabasco  Send Email to tabasco     
Hint- Make sure you get replacement value ...not book value
FLUKEDUKE posted 10-09-2002 01:04 PM ET (US)     Profile for FLUKEDUKE  Send Email to FLUKEDUKE     
Our independent carrier for homeowners/auto
would NOT insure my 18 OR, said it had too much horsepower ?, beats me. Ended up with
BoatUS, have yet to place a claim with them
but my understanding is their very good.
As a BoatUS member you also get their monthly publications which has some excellent
marine/boating articles, and their equipment
catalog, similar to West Marine's and competatively priced.
timbo posted 10-09-2002 06:10 PM ET (US)     Profile for timbo  Send Email to timbo     
thanks for the feedback all, my boat the only thing to do now i put 5 coats of varnish on the wood and do my homework.... thanks, Timbo
whaler131 posted 10-09-2002 06:53 PM ET (US)     Profile for whaler131  Send Email to whaler131     
I sell Nationwide ins. have done this for the last 26 years. Check it out in your area. coverages are good and claims payments have been fair.
Buckda posted 10-09-2002 07:47 PM ET (US)     Profile for Buckda  Send Email to Buckda     
Allstate was good enough to cover the boat for any amount I specified, and the price was reasonable too. Based on the other responses to this thread, It appears that it's much like buying insurance for a car - shop for the best coverage and rates.

They didn't even ask about what I paid for the boat - they just asked what it is worth - to me - so I "overinsured" like a good American and will probably be able to actually upgrade if the boat is somehow totaled. I probably pay a bit more, but insurance is exactly that - insurance - and assurance that you'll be covered is worth whatever you decide it's worth and are willing to pay for that piece of mind.

You pay to play.

Dave

David Ratusnik posted 10-09-2002 08:05 PM ET (US)     Profile for David Ratusnik  Send Email to David Ratusnik     
Buckda- I switched from Allstate to State Farm due to the high price of Allstate. Asked Allstate to price match and they said "no". Basically, I am pleased with my State Farm policy. FYI David
lhg posted 10-09-2002 08:17 PM ET (US)     Profile for lhg    
A policy like Buckda has writes the boat on an "Agreed Value" basis, usually for an upcharge. Under this form they will take any amount want, but in the event of a loss, YOU MUST BE ABLE TO PROVE YOUR HIGHER THAN CASH VALUE (Buc Book, etc) FIGURE. It is not a slam dunk. In other words, they start at book value, and give you the option of talking them up, if you can make your case, up to the limit you selected. With a straight ACV policy (like all auto policies), you have no option to do that, and most will insist the boat be insured by the book value.

With Whalers, always buy an Agreed Value form, as the artificially deflated book values will kill you. It's not too hard to prove your higher valuation case with sites like this, Trader on Line, etc. I'm in insurance.

kingfish posted 10-09-2002 08:36 PM ET (US)     Profile for kingfish  Send Email to kingfish     
What LHG said-

I was half-way through saying the same thing though not as well when I scrolled down and saw Larry had already caught this one.

Actually it is through Larry's patient and thorough guidance that I have come to understand this issue about insuring Whalers and have made changes with our boats accordingly.


Larry, I was hoping you'd pick up on this thread and share some of your expertise, as you have-

kingfish

rsgwynn1 posted 10-10-2002 01:00 AM ET (US)     Profile for rsgwynn1  Send Email to rsgwynn1     
Call State Farm. They have the best deals by far.
OUTRAGEOUS22 posted 10-10-2002 12:18 PM ET (US)     Profile for OUTRAGEOUS22    
Having an older Outrage brought up a value problem with all the Insurance brokers in my area. State farm, Allstate etc. The one fellow who understood the value of a clasic whaler was Al Mott from Huntington NY only does boat insurance and knew my 1988 Outrage as equiped was worth over $25,000+ http://www.boat-ins.com/ The other adjusters used blue book values and others that low ball prices.
ratherwhalering posted 10-10-2002 02:13 PM ET (US)     Profile for ratherwhalering  Send Email to ratherwhalering     
For military vets out there, USAA has value boat insurance available. I got 300k/100k liability, 25k med pay, 10k hull, engine, accessories ($250.00 deductable.... $127.00 per year.
djahncke posted 10-11-2002 10:14 PM ET (US)     Profile for djahncke  Send Email to djahncke     
Shop more than just price. It is important to investigate how they handle a claim. After all you are buying insurance to cover you if you suffer a loss.

This summer I had the misfortune to suffer a loss leading me to file my first claim with State Farm after 15 years of continuous coverage. The way they handled the claim was so poor and unprofessional that I am now taking all of my insurance business elsewhere.

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