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Author Topic:   Boat Insurance for your Whaler

whaler007 posted 01-31-2011 04:44 PM ET (US)
Is anyone here covered by Boat US?
If so, are you happy with them?
I might switch from Allstate to Boat US for my Montauk 190.
Advice, tips, etc.?
Ridge Runner posted 01-31-2011 05:09 PM ET (US)
It's interesting.. different companies are more competitive then others based on markets. For my 170 Montauk in NJ BoatUS had the best price by far, for my 170 Montauk in FL Progressive beat BoatUS by 20% for the same coverage. Both have been great to work with...
Moose posted 01-31-2011 05:27 PM ET (US)
I did the opposite.
I was with Boat US for about 8 years, then switched to Allstate a couple of years ago.
I guess I was happy with Boat US, never made a claim, so no background on how well that goes with them. If I recall correctly the price was geat with Boat US when the boat was new, then it increased almost every year.
Went to Allstate for a lower premium when combined with my home owners and some other insurance we have with them. Is there something about the coverage with Allstate that is your reason for the switch? I'd be interested in any feedback you'd care to share.
whaler007 posted 01-31-2011 05:27 PM ET (US)
Thanks for the reply. I'll check out progressive as well.
How much for watercraft medical payments do you guys have?
I currently have $10,000. Too high, too low?
BoatUS' quote had only $1,000 for passengers(non family) but $25,000 for family members.
whaler007 posted 01-31-2011 05:31 PM ET (US)
Moose - no real issue w/ Allstate.
Just crunching numbers last night and our payments with them seem to keep increasing despite no big claims (1 $1500 car damage claim with a $500 deductible). We have car & house through them as well.
Mark D posted 01-31-2011 05:47 PM ET (US)
State Farm. Hands down the best I have heard about and ever worked with
dscew posted 01-31-2011 06:04 PM ET (US)
I've found the same premium creep with Allstate (creep has a dual meaning here). I've found that threatening them with shopping around makes "new discounts" appear for "good customers like you." It's funny how they happen just after you ask.
wstr75 posted 01-31-2011 08:17 PM ET (US)
Am not in the insurance industry, but I make sure to have considerably more than the minimum insurance in all aspects (medical, property damage, etc.). Where possible, I link affiliated insurance matters to our home policy because we have a large umbrella arrangement. It is easy to blow through thousands in medical expenses and that means the injured party sucks it out of your wallet after the insurance company cries no mas after paying their obligated amount.
You work hard all your life accumulating assets and don't want to lose it all because of an accident, do you? It is the same logic as my father-in-law exhibited one day when a Rolls-Royce passed us and pulled in front of us in our lane. My FIL immediately slowed down and I asked why he was giving the Rolls so much spacing. He replied, I'don't have enough insurance coverage to pay for the damages if the Rolls stops suddenly.
Bill in NC
Liteamorn posted 01-31-2011 08:45 PM ET (US)
I switched from Allstate to Boatus last year. For the same premium I was paying Allstate with $500 towing (I doubt that would cover a tow from my fishing grounds today)BoatUS supplied insurance and unlimited towing. Since I haven't had to use it I can't comment on it. My one towing experience with Allstate was flawless, I had the check in my hands before I recieved my bill from my credit card.
Ed
litnin posted 01-31-2011 09:53 PM ET (US)
Try Hagerty. I think that they are the largest classic boat insurer. If like their insurance for classic cars, they assume that you will not drive them too far or mistreat them so their rates are lower. Give them a shot but I do think that it is standard practice for the insurance companies to creep.
tom976 posted 02-01-2011 09:29 AM ET (US)
I have progressive myself, not bad and they lower your deductible every year. I have statefarm for everything else (house, cars etc) but when I went to my agent about my boat, they were not interested.
The one thing to really look for when having insurance carriers is having a policy based agreed upon value and not book value. If you had restored a 1969 montauk, if you sold it you'd get a few grand. But book value may be less that a thousand. If you had a total loss, you would be out all the money that you put into it. Agreed value is a realistic number that you and your insurer value your boat at. If there is a claim, they base it on that value.
So not all insurance is the same.
bluewaterpirate posted 02-01-2011 09:49 AM ET (US)
I use SeaSafe thru SeaTow. Provides the converage I need at a reasonable price. Great folks to work with.
Tom
bluewaterpirate posted 02-01-2011 09:51 AM ET (US)
Excuse me Sea Insure not Sea Safe.
hc803 posted 02-01-2011 01:59 PM ET (US)
^^^
I have SeaSafe (via Geico), and although I've never had to file a claim {knock-on-wood}, it is cheaper than other quotes I got (Allstate, Progressive) and they actually call me every so often to make sure I don't need more or less coverage.
PeteB88 posted 02-01-2011 02:02 PM ET (US)
My insurance man added our boats to the home-owners policy or created separate policies based on our long term excellent relationships and s&%# load of payments we have made over the years. Seems to be working, not breaking the bank. However, I think I will contact him to double check how things are going based on this thread.
ivansfo posted 02-01-2011 02:38 PM ET (US)
My Whaler is insured with Boat U.S. for the past 9 years. So far I've never filed any claims. My annual premium hasn't changed in the past 6+ years. Of all the reports I read about claims filed with Boat US, they've all been handled efficiently and fairly. So I will stick with them.
Prior to Boat U.S, the Whaler was insured with State Farm at twice the current premium. I quickly canceled that policy.

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Author	Topic: Boat Insurance for your Whaler
whaler007	posted 01-31-2011 04:44 PM ET (US) Is anyone here covered by Boat US? If so, are you happy with them? I might switch from Allstate to Boat US for my Montauk 190. Advice, tips, etc.?
Ridge Runner	posted 01-31-2011 05:09 PM ET (US) It's interesting.. different companies are more competitive then others based on markets. For my 170 Montauk in NJ BoatUS had the best price by far, for my 170 Montauk in FL Progressive beat BoatUS by 20% for the same coverage. Both have been great to work with...
Moose	posted 01-31-2011 05:27 PM ET (US) I did the opposite. I was with Boat US for about 8 years, then switched to Allstate a couple of years ago. I guess I was happy with Boat US, never made a claim, so no background on how well that goes with them. If I recall correctly the price was geat with Boat US when the boat was new, then it increased almost every year. Went to Allstate for a lower premium when combined with my home owners and some other insurance we have with them. Is there something about the coverage with Allstate that is your reason for the switch? I'd be interested in any feedback you'd care to share.
whaler007	posted 01-31-2011 05:27 PM ET (US) Thanks for the reply. I'll check out progressive as well. How much for watercraft medical payments do you guys have? I currently have $10,000. Too high, too low? BoatUS' quote had only $1,000 for passengers(non family) but $25,000 for family members.
whaler007	posted 01-31-2011 05:31 PM ET (US) Moose - no real issue w/ Allstate. Just crunching numbers last night and our payments with them seem to keep increasing despite no big claims (1 $1500 car damage claim with a $500 deductible). We have car & house through them as well.
Mark D	posted 01-31-2011 05:47 PM ET (US) State Farm. Hands down the best I have heard about and ever worked with
dscew	posted 01-31-2011 06:04 PM ET (US) I've found the same premium creep with Allstate (creep has a dual meaning here). I've found that threatening them with shopping around makes "new discounts" appear for "good customers like you." It's funny how they happen just after you ask.
wstr75	posted 01-31-2011 08:17 PM ET (US) Am not in the insurance industry, but I make sure to have considerably more than the minimum insurance in all aspects (medical, property damage, etc.). Where possible, I link affiliated insurance matters to our home policy because we have a large umbrella arrangement. It is easy to blow through thousands in medical expenses and that means the injured party sucks it out of your wallet after the insurance company cries no mas after paying their obligated amount. You work hard all your life accumulating assets and don't want to lose it all because of an accident, do you? It is the same logic as my father-in-law exhibited one day when a Rolls-Royce passed us and pulled in front of us in our lane. My FIL immediately slowed down and I asked why he was giving the Rolls so much spacing. He replied, I'don't have enough insurance coverage to pay for the damages if the Rolls stops suddenly. Bill in NC
Liteamorn	posted 01-31-2011 08:45 PM ET (US) I switched from Allstate to Boatus last year. For the same premium I was paying Allstate with $500 towing (I doubt that would cover a tow from my fishing grounds today)BoatUS supplied insurance and unlimited towing. Since I haven't had to use it I can't comment on it. My one towing experience with Allstate was flawless, I had the check in my hands before I recieved my bill from my credit card. Ed
litnin	posted 01-31-2011 09:53 PM ET (US) Try Hagerty. I think that they are the largest classic boat insurer. If like their insurance for classic cars, they assume that you will not drive them too far or mistreat them so their rates are lower. Give them a shot but I do think that it is standard practice for the insurance companies to creep.
tom976	posted 02-01-2011 09:29 AM ET (US) I have progressive myself, not bad and they lower your deductible every year. I have statefarm for everything else (house, cars etc) but when I went to my agent about my boat, they were not interested. The one thing to really look for when having insurance carriers is having a policy based agreed upon value and not book value. If you had restored a 1969 montauk, if you sold it you'd get a few grand. But book value may be less that a thousand. If you had a total loss, you would be out all the money that you put into it. Agreed value is a realistic number that you and your insurer value your boat at. If there is a claim, they base it on that value. So not all insurance is the same.
bluewaterpirate	posted 02-01-2011 09:49 AM ET (US) I use SeaSafe thru SeaTow. Provides the converage I need at a reasonable price. Great folks to work with. Tom
bluewaterpirate	posted 02-01-2011 09:51 AM ET (US) Excuse me Sea Insure not Sea Safe.
hc803	posted 02-01-2011 01:59 PM ET (US) ^^^ I have SeaSafe (via Geico), and although I've never had to file a claim {knock-on-wood}, it is cheaper than other quotes I got (Allstate, Progressive) and they actually call me every so often to make sure I don't need more or less coverage.
PeteB88	posted 02-01-2011 02:02 PM ET (US) My insurance man added our boats to the home-owners policy or created separate policies based on our long term excellent relationships and s&%# load of payments we have made over the years. Seems to be working, not breaking the bank. However, I think I will contact him to double check how things are going based on this thread.
ivansfo	posted 02-01-2011 02:38 PM ET (US) My Whaler is insured with Boat U.S. for the past 9 years. So far I've never filed any claims. My annual premium hasn't changed in the past 6+ years. Of all the reports I read about claims filed with Boat US, they've all been handled efficiently and fairly. So I will stick with them. Prior to Boat U.S, the Whaler was insured with State Farm at twice the current premium. I quickly canceled that policy.