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Author Topic:   Progressive Boat Insurance

wbullwin posted 04-03-2013 05:22 PM ET (US)
I did a search on here and most of the postings were from a few years ago. It seemds that I see more and more ads on TV and in boating publications for Progressive. They just sponsered the Baltimore Boat Show. I am looking into getting a different insurance company.
Has anyone who is insured with Progressive had any problems? Any claims? Bad customer service? Good service? Any input would be appreciated.
Today I have BoatUS and paying $497. I just got a quote from Progressive for the same boat for $203. Sounds too good to be true!!
Thanks in advance,
Wally
Jeff posted 04-03-2013 06:11 PM ET (US)
Wally,
I have insured all of my Whaler through Safeco. The last 3 where with the same agent in Chicago. Larry C Goltz (LHG's Son). Their family's agency is in Chicago but, can write policies for all 50 States. I have used them for many years to cover my Classic Whalers and now my Grady White too. Since they own 5 Museum Quality Classic Whalers themselves, they know how to properly insure classic vessels for their true market value. Their prices have always been the best I can find and after making some claims in the past, I can say they are very helpful. I see a lot of value and have a good piece of mind knowing that my agent not only knows these classic boats but is a valuable part of he community
contender posted 04-03-2013 08:46 PM ET (US)
Once I purchased one of my boats brand new, I put a down a nice down payment and made the all the other payments on time. Since I did not pay full price for the boat I had to carry insurance (payment every 6 months Jan. and July). Now comes Hurricane Andrew (Aug. 1992) and my boat was about 8 months old at the time of the hurricane. The boat ended up with about $15,000. worth of damage (3 different estimates from 3 different boat dealer/repair shops) The 1st insurance adjuster told me just to use rattle cans (spray paint) to cover up the damage to the hull and engine cover...I told him to leave my property, The next guy that came out tried to dock me 10% because of the age of the boat, again I told him to pound sand and leave my property. The third guy that came out was understanding and knew boats. He gave me full credit for everything minus my deductible which was understanding. Now I submitted my paperwork to the company and they refuse to cut me a check until I made the next payment which is now the time frame of July 1993 almost 1 year after the fact. I had to threaten the owner of the company with a phone call to the state for insurance fraud, and stating how I have made all my payments that they were refusing to pay the claim, I got the check for the full amount in a week. I'm not sure and I will not use their name here but I think it is the same company you are talking about. When I got my check with some extra cash I used it to pay off the loan on the boat. Since then I have never carried any insurance on any of my boats and never will. Couple of things, During this time all of the insurance companies were over ran with claims do to the hurricane, Insurance adjusters came from out of state to help with the claims (however knew nothing about boats). But the sad part was that I had to threaten them to get paid and I did not get paid until June of 93...10 months after the hurricane...
frontier posted 04-03-2013 11:31 PM ET (US)
I vote a big NO on the Progressive Insurance Company.
Progressive Insurance founder Peter Lewis gave close to $2 million dollars in the effort to legalize marijuana in my state of Washington.
That hurts kids, is making a mess of our legal and law enforcement systems and is draining valuable time and money from our very limited state dollars.
dgoodhue posted 04-04-2013 09:42 AM ET (US)
I have progressive insurance for my 15' whaler, this years inurance was $200, it has gone down every year I have had a policy. I have progressive because it's what my insurance agents has for boat insurance. (I don't use progressive auto or home). I haven't made any claims and i have declared value $8000.
jfortson posted 04-04-2013 02:41 PM ET (US)
I personally have everything with State farm - home, auto and whaler. May not be the absolute cheapest, but probably in the lowest 10% when all combined. Had to have my roof replaced when a tree fell on the house. paid enough that I did not have to even pay the deductible and replaced the entire roof which was 1 year away from needing to being replaced anyway.
I have not used progressive, but have heard some not so good things.. The key word is "heard", but do not know for sure.
I have nothing but good to say about State Farm and their claims handling - and my rates did not go up the they paid the $7,000 claim.
wezie posted 04-04-2013 03:18 PM ET (US)
The quantity of tv advertising by progressive consumes tens of millions of dollars. It is constant and seemingly increases daily.
With that expenditure, will there be any left for claims.
Too much promotion for me.
I know State Farm is good.
Chriscz posted 04-04-2013 03:33 PM ET (US)
I have progressive insurance. Had a sizable claim and had no issues, good service, and timely payment. Also learned a good nuance about how boat insurance works. Namely that although some direct failures are not covered, the downstream effects of those failures may be. The example the insurance adjuster gave was, if a checkvalve in a through-hull fixture were to fail, the insurance would not cover the checkvalve replacement, however if the boat sank or had other damage due to that failure, those items would be covered, like the rest of the boat. In my case, this held true for an impeller failure, where the impeller was not covered, however the $6k powerhead was covered that was damaged as a result of the impeller failure.
Frontier, I wouldnt be overly concerned about Washington being destroyed by a relaxation of pot laws and not wasting our police force time on chasing these "criminals". The Netherlands is still a thriving country despite its similar views on this issue. So for a wealthy company founder to fund an effort which most politicians can't touch, sounds "progressive" to me not scary.
Moose posted 04-04-2013 05:16 PM ET (US)
The first year of insurance on my Outrage was with Boat US. During the first off-season I found Progressive. Comparing apples to apples (there were the normal little differences in coverage) Progressive was about half the premium, $200 vs. about $400 yearly.
I stayed with Progressive for 8-9 years, no claims, no complaints, no problems. Things are typically pretty good when there isn't any damages, money, etc., to fight over. My local agent for my homeowners insurance finally made me an offer I couldn't refuse a couple seasons ago: car, homeowners and boat all with one carrier for quite a bit less than I was paying with my a la carte approach, so I switched everything to Allstate.
Teak Oil posted 04-04-2013 07:06 PM ET (US)
I had progressive on my 1985 Montauk for 7 seven years, but never had to make a claim. It was less than $200 a year.
With my current 22 Outrage I have a ton of custom equipment, and it was cheaper to go with the company I have my house and cars with, Allstate. I still pay less than $500 a year.
I would always have a MINIMUM of liability insurance on my boat, in this sue happy world it is worth the few bucks a year to protect yourself
pcrussell50 posted 04-04-2013 08:43 PM ET (US)

quote:
I would always have a MINIMUM of liability insurance on my boat, in this sue happy world it is worth the few bucks a year to protect yourself
You may find that this is not possible for serious injuries. Medical bills can _easily_ be a million dollars as we have learned when people back into one of their swimmers or when one of your swimmers jumps into the prop with the motor running and in gear. And not being at fault is no protection either. When medical bills get large, sources of money will be found, even if it is you, and you are not at fault. The highest liability value I was able to select on Progressive's pulldown menu was $500,000 maximum per incident. I would not feel comfortable with that. At. All.
I couldn't care less about insuring the value of my boats. It's a pittance in comparison to your liability exposure.
-Peter
AZdave posted 04-04-2013 10:46 PM ET (US)
We have insured a number of cars with Progressive for more than a decade. We have had some significant claims which were handled promptly and with commendable fairness. We have had liability only on the Outrage, and more recently, the Montauk for the last few years. Thankfully, we have not had a claim for the boats. I agree with Peter that liability could exceed a half million. My understanding is that higher liability coverage is usually provided by a separate "umbrella" policy. I have not investigated this thoroughly, and would appreciate the input of others. Dave
pcrussell50 posted 04-04-2013 11:01 PM ET (US)

quote:
My understanding is that higher liability coverage is usually provided by a separate "umbrella" policy.
Yes, I figured that out recently. But if I get an umbrella policy, what's to stop me from getting the minimal liability coverage on my boats and then let the umbrella handle the rest?
-Peter
rtk posted 04-05-2013 05:18 AM ET (US)
For my umbrella policy I had to raise my liability limits on my auto insurance. They wouldn't allow the lower limit of liabilty. I probably had to do something similar with my homeowners policy.
For the boating liabilty endorsement on my umbrella I was required to have a boat insurance policy- they want a copy each year when the umbrella is up for renewal.
My perception of an umbrella insurance policy is that it is a supplemental liability policy.
I have progressive for my boat. Rates were good and the sign up was painless. They're great to deal with. I do not have claim experience though.
Rich
outragesteve posted 04-05-2013 01:40 PM ET (US)
I have my two boats insured with Progressive. Both are insured for "stated" value. My 1989 22' Outrage w/ Yamaha F90's has a stated value of $24,000.00. My 1989 MasterCraft Prostar 190 stated @ $14,000.00. Total policy is $740.00/yr. I recently filed a claim on the Whaler. I freak wind storm destoyed my Mills bimini top and ripped up the mooring cover. Progressive handled the claim quickly. In less than 2 weeks I received a check that covered the two items. Full payment for new items, priced from Mills. I do have a deductible of $1000.00. No problem. I was so impressed, I switched my 3 cars to Progressive and saaved about 35% from my previous carrier. (AARP/Hartford) Very happy with "Flo" and her pals!
Keeper posted 04-07-2013 02:00 PM ET (US)
My 15 is insured through progressive with a "stated value".
I chose them largely because a vessel assist captain who pulled my boat off the rocks once said they were & far & Away the best he's worked with.
They were easy to work with and resonable in price.
Buckda posted 04-07-2013 06:57 PM ET (US)
Insurance is a funny game.
To Peter's point - you liability exposure can be enormous - especially for medical. The decision you make about a carrier and policy, however, might just be more related to your net worth and true exposure to financial loss from a liability claim. If you don't have very deep pockets at all, then all the courts in the world can find you financially responsible and no one will get paid - because you just don't have it.
I would say stick with insurers who have a strong track record for above-board dealing, but I can think of instances with pretty much every one where they tried to stick it to their policy holders for various reasons.
It also greatly depends on how you use the boat and what you let people do aboard your boat. If you serve, consume or allow alcohol to be consumed aboard your vessel, then I strongly suggest that you can not "not" afford a good, solid, strong policy with plenty of liability coverage. If you tow skiers - especially your kids and/or their friends...then I suggest a solid, strong, beefy policy.
If you just putter along in your boat on an inland lake or quiet river to go fishing now and again, then your exposure is much less (depending on the net worth of your buddies!).
What I'm taking a long time to say is that you are better off discussing your needs with a qualified, professional insurance agent who can help you determine your exposure and coverage needs, and will help you find a policy that provides the best coverage within your budget. For that, I recommend an independent agent. **Disclaimer, my father and a close personal friend are both independent agents who work with several different companies to find coverage plans to fit the needs of their clients. I've never bought insurance through my father, however....but that's just because we don't mix business and family matters as a matter of general rule.
EJO posted 04-07-2013 09:03 PM ET (US)
I agree with the Safeco statement made B-4 and the use of a qualified independent insurance agent. This agent can determine what you need and you can determine if it is acceptable. Luckily I'm in a state where it is required to have insurance (liability minimum) as I do not want to be un-insured ever.
It is one of those pests in life you can't do without as an accident might be around the corner and it can ruin you. (house, car, boat, medical, and even life are policies I don't like to pay for but happy to have when needed)
Brian7son posted 04-09-2013 08:57 AM ET (US)
I have had my boats insured with Progressive since 1999. I have had 2 major claims. The first time, they replaced my generator. They paid out over $10K and handled the claim very well. On the second claim I had an "Agreed Value policy" on my Conquest for $80K. The boat was totaled last summer and they paid me the $80K agreed value. I have no issues whatsoever with Progressive.
On another note, very few other carriers offer "uninsured boater" coverage. In the event that another boater collides with your boat and god forbid, injures you or your passengers, the uninsured boater coverage would pay for your injuries in the event that the at fault guy carried either no bodily injury coverage or "the minimum" like many here say they carry.
Jefecinco posted 04-09-2013 09:40 AM ET (US)
Brian,
Please correct me if I'm wrong, but I understand uninsured/underinsured boater/driver coverage is limited to the amount of medical coverage in your basic policy. So, if you buy this coverage you may wish to up the limits of the medical coverage in your basic policy.
Butch
wbullwin posted 04-09-2013 09:50 AM ET (US)
Thanks everyone for your feedback. I am going to switch over to Progressive. Their premium is more than half what I am paying for BoatUS. My bad for not looking into this years ago.
Butch, the uninsured/under insured coverage is a separate line item on the policy and you pick what coverage you want. As far as minimums, I have an umbrella policy with State Farm and they demand a $100K minimum liability. I think other companies do too.
Brian7son posted 04-09-2013 04:52 PM ET (US)
Jeffinco:
The uninsured/underinsured coverage is different than medical coverage. Agents frequently misinform people (becuase they dont have claims experience) and advise them if they have health insurance they dont need uninsured motorist coverage.
Medical Payments coverage: covers medical expenses and pays the medical providers directly or it will reimburse you if you paid the provider and have a receipt.
Uninsured motorist coverage (In Florida): pays you for pain and suffering, scarring, lost wages, medical bills not covered by other sources, etc. Essentially, the polcy "steps into the shoes" of the at fault guy that caused your injuries and pays you what you would be legally entitled to collect from him.
I have been a licensed claims adjuster in Florida for 20 years. I have 10 years experience working for insurance companies adjusting claims and 10 more years experience working at a law office handling claims for people.
I dont want to put you to sleep with TMI on this topic, but if you have any questions shoot me an email and I'll be happy to answer.

Take it easy,
Brian
Brian7son posted 04-09-2013 04:54 PM ET (US)
Jefecinco: Sorry for the typo on your name
Jefecinco posted 04-09-2013 07:11 PM ET (US)
Brian,
Call me Butch. Much easier.
Butch
Marsh posted 04-09-2013 08:46 PM ET (US)
For several years, I have insurance via Progressive on my boat, Wave Runner, and two motorcycles, and have been very happy. Progressive is not the least bit put off by the fact that my boat engine horsepower exceeds the rated capacity of the boat. As far as claims, I totaled a motorcycle back in 2011, and Progressive paid the claim within two weeks. Their first offer, which I eagerly accepted, was for more than the bike cost me when I bought it seven months earlier. They offer annual policies, contrasted to semi-annual renewals required by many other insurors. Their constant commercials are a drag, but I kinda like Flo.
I get comps every year from Allstate and State Farm, but those two can't come close.
Happy customer here.
wbullwin posted 05-06-2013 05:06 PM ET (US)
I just wanted to give everyone that replied to my question about Progressive Boat Insurance an update as to what I have found out recently. I did a thorough comparison between Progressive and BoatUS. With Progressive I am getting better coverage for a lot less premium. One question someone raised earlier was "Consequential Damages". I emailed their Claims Department and asked the question "Point blank" to them, "Do you cover Consequential Damages?"
Their answer is YES. They used the examples that if the boat sinks because of a faulty 2 year old bilge pump, they would not cover the pump but would cover the damages caused by the sinking. Also, if a shifter cable failed and causes a collison, the cable is not covered but the damages to the boat and dock would be.
swist posted 05-07-2013 03:04 PM ET (US)
With regard to umbrella policies, yes they take over when the normal policy can't cover the claim. But they all require the underlying regular policies to have max or very high limits.
On the other hand they are relatively inexpensive. They are a pain to renew, however, since you have to give them proof that all the underlying policies are still in force, and to the specified limits.
My agent, whom I trust in a big way, says that anyone with even modest assets really needs an umbrella policy - they can take your liability limits up to $1m or even more.
freebored posted 05-09-2013 07:26 AM ET (US)
"With regard to umbrella policies, yes they take over when the normal policy can't cover the claim. But they all require the underlying regular policies ..."
Yes! I have a 15 footer center console. I only bought boat insurance because my carrier required it for the umbrella policy. I was about $100 a year, but for about $15 a year they added what I call tow insurance insurance.
Sea Tow and the like are what(?) about $400 a year or maybe $400 for a tow if you don't have a policy with them? For $15 a year, my insurance company will reimburse me for the cost of a tow if I ever need one. Seems like a heck of a deal to me.
wbullwin posted 05-09-2013 11:38 AM ET (US)
BoatUS is $110 for "Unlimited" up to $1,000
Mambo Minnow posted 05-12-2013 02:57 PM ET (US)
For what it's worth, USAA is my main insurer but they don't write new policies in Florida. For new boat policies, they referred me to Progressive.
I got a quote from BoatUS, which I am also a member and Progressive is quoting nearly half premium for the same coverage.

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Author	Topic: Progressive Boat Insurance
wbullwin	posted 04-03-2013 05:22 PM ET (US) I did a search on here and most of the postings were from a few years ago. It seemds that I see more and more ads on TV and in boating publications for Progressive. They just sponsered the Baltimore Boat Show. I am looking into getting a different insurance company. Has anyone who is insured with Progressive had any problems? Any claims? Bad customer service? Good service? Any input would be appreciated. Today I have BoatUS and paying $497. I just got a quote from Progressive for the same boat for $203. Sounds too good to be true!! Thanks in advance, Wally
Jeff	posted 04-03-2013 06:11 PM ET (US) Wally, I have insured all of my Whaler through Safeco. The last 3 where with the same agent in Chicago. Larry C Goltz (LHG's Son). Their family's agency is in Chicago but, can write policies for all 50 States. I have used them for many years to cover my Classic Whalers and now my Grady White too. Since they own 5 Museum Quality Classic Whalers themselves, they know how to properly insure classic vessels for their true market value. Their prices have always been the best I can find and after making some claims in the past, I can say they are very helpful. I see a lot of value and have a good piece of mind knowing that my agent not only knows these classic boats but is a valuable part of he community
contender	posted 04-03-2013 08:46 PM ET (US) Once I purchased one of my boats brand new, I put a down a nice down payment and made the all the other payments on time. Since I did not pay full price for the boat I had to carry insurance (payment every 6 months Jan. and July). Now comes Hurricane Andrew (Aug. 1992) and my boat was about 8 months old at the time of the hurricane. The boat ended up with about $15,000. worth of damage (3 different estimates from 3 different boat dealer/repair shops) The 1st insurance adjuster told me just to use rattle cans (spray paint) to cover up the damage to the hull and engine cover...I told him to leave my property, The next guy that came out tried to dock me 10% because of the age of the boat, again I told him to pound sand and leave my property. The third guy that came out was understanding and knew boats. He gave me full credit for everything minus my deductible which was understanding. Now I submitted my paperwork to the company and they refuse to cut me a check until I made the next payment which is now the time frame of July 1993 almost 1 year after the fact. I had to threaten the owner of the company with a phone call to the state for insurance fraud, and stating how I have made all my payments that they were refusing to pay the claim, I got the check for the full amount in a week. I'm not sure and I will not use their name here but I think it is the same company you are talking about. When I got my check with some extra cash I used it to pay off the loan on the boat. Since then I have never carried any insurance on any of my boats and never will. Couple of things, During this time all of the insurance companies were over ran with claims do to the hurricane, Insurance adjusters came from out of state to help with the claims (however knew nothing about boats). But the sad part was that I had to threaten them to get paid and I did not get paid until June of 93...10 months after the hurricane...
frontier	posted 04-03-2013 11:31 PM ET (US) I vote a big NO on the Progressive Insurance Company. Progressive Insurance founder Peter Lewis gave close to $2 million dollars in the effort to legalize marijuana in my state of Washington. That hurts kids, is making a mess of our legal and law enforcement systems and is draining valuable time and money from our very limited state dollars.
dgoodhue	posted 04-04-2013 09:42 AM ET (US) I have progressive insurance for my 15' whaler, this years inurance was $200, it has gone down every year I have had a policy. I have progressive because it's what my insurance agents has for boat insurance. (I don't use progressive auto or home). I haven't made any claims and i have declared value $8000.
jfortson	posted 04-04-2013 02:41 PM ET (US) I personally have everything with State farm - home, auto and whaler. May not be the absolute cheapest, but probably in the lowest 10% when all combined. Had to have my roof replaced when a tree fell on the house. paid enough that I did not have to even pay the deductible and replaced the entire roof which was 1 year away from needing to being replaced anyway. I have not used progressive, but have heard some not so good things.. The key word is "heard", but do not know for sure. I have nothing but good to say about State Farm and their claims handling - and my rates did not go up the they paid the $7,000 claim.
wezie	posted 04-04-2013 03:18 PM ET (US) The quantity of tv advertising by progressive consumes tens of millions of dollars. It is constant and seemingly increases daily. With that expenditure, will there be any left for claims. Too much promotion for me. I know State Farm is good.
Chriscz	posted 04-04-2013 03:33 PM ET (US) I have progressive insurance. Had a sizable claim and had no issues, good service, and timely payment. Also learned a good nuance about how boat insurance works. Namely that although some direct failures are not covered, the downstream effects of those failures may be. The example the insurance adjuster gave was, if a checkvalve in a through-hull fixture were to fail, the insurance would not cover the checkvalve replacement, however if the boat sank or had other damage due to that failure, those items would be covered, like the rest of the boat. In my case, this held true for an impeller failure, where the impeller was not covered, however the $6k powerhead was covered that was damaged as a result of the impeller failure. Frontier, I wouldnt be overly concerned about Washington being destroyed by a relaxation of pot laws and not wasting our police force time on chasing these "criminals". The Netherlands is still a thriving country despite its similar views on this issue. So for a wealthy company founder to fund an effort which most politicians can't touch, sounds "progressive" to me not scary.
Moose	posted 04-04-2013 05:16 PM ET (US) The first year of insurance on my Outrage was with Boat US. During the first off-season I found Progressive. Comparing apples to apples (there were the normal little differences in coverage) Progressive was about half the premium, $200 vs. about $400 yearly. I stayed with Progressive for 8-9 years, no claims, no complaints, no problems. Things are typically pretty good when there isn't any damages, money, etc., to fight over. My local agent for my homeowners insurance finally made me an offer I couldn't refuse a couple seasons ago: car, homeowners and boat all with one carrier for quite a bit less than I was paying with my a la carte approach, so I switched everything to Allstate.
Teak Oil	posted 04-04-2013 07:06 PM ET (US) I had progressive on my 1985 Montauk for 7 seven years, but never had to make a claim. It was less than $200 a year. With my current 22 Outrage I have a ton of custom equipment, and it was cheaper to go with the company I have my house and cars with, Allstate. I still pay less than $500 a year. I would always have a MINIMUM of liability insurance on my boat, in this sue happy world it is worth the few bucks a year to protect yourself
pcrussell50	posted 04-04-2013 08:43 PM ET (US) quote: I would always have a MINIMUM of liability insurance on my boat, in this sue happy world it is worth the few bucks a year to protect yourself You may find that this is not possible for serious injuries. Medical bills can _easily_ be a million dollars as we have learned when people back into one of their swimmers or when one of your swimmers jumps into the prop with the motor running and in gear. And not being at fault is no protection either. When medical bills get large, sources of money will be found, even if it is you, and you are not at fault. The highest liability value I was able to select on Progressive's pulldown menu was $500,000 maximum per incident. I would not feel comfortable with that. At. All. I couldn't care less about insuring the value of my boats. It's a pittance in comparison to your liability exposure. -Peter
AZdave	posted 04-04-2013 10:46 PM ET (US) We have insured a number of cars with Progressive for more than a decade. We have had some significant claims which were handled promptly and with commendable fairness. We have had liability only on the Outrage, and more recently, the Montauk for the last few years. Thankfully, we have not had a claim for the boats. I agree with Peter that liability could exceed a half million. My understanding is that higher liability coverage is usually provided by a separate "umbrella" policy. I have not investigated this thoroughly, and would appreciate the input of others. Dave
pcrussell50	posted 04-04-2013 11:01 PM ET (US) quote: My understanding is that higher liability coverage is usually provided by a separate "umbrella" policy. Yes, I figured that out recently. But if I get an umbrella policy, what's to stop me from getting the minimal liability coverage on my boats and then let the umbrella handle the rest? -Peter
rtk	posted 04-05-2013 05:18 AM ET (US) For my umbrella policy I had to raise my liability limits on my auto insurance. They wouldn't allow the lower limit of liabilty. I probably had to do something similar with my homeowners policy. For the boating liabilty endorsement on my umbrella I was required to have a boat insurance policy- they want a copy each year when the umbrella is up for renewal. My perception of an umbrella insurance policy is that it is a supplemental liability policy. I have progressive for my boat. Rates were good and the sign up was painless. They're great to deal with. I do not have claim experience though. Rich
outragesteve	posted 04-05-2013 01:40 PM ET (US) I have my two boats insured with Progressive. Both are insured for "stated" value. My 1989 22' Outrage w/ Yamaha F90's has a stated value of $24,000.00. My 1989 MasterCraft Prostar 190 stated @ $14,000.00. Total policy is $740.00/yr. I recently filed a claim on the Whaler. I freak wind storm destoyed my Mills bimini top and ripped up the mooring cover. Progressive handled the claim quickly. In less than 2 weeks I received a check that covered the two items. Full payment for new items, priced from Mills. I do have a deductible of $1000.00. No problem. I was so impressed, I switched my 3 cars to Progressive and saaved about 35% from my previous carrier. (AARP/Hartford) Very happy with "Flo" and her pals!
Keeper	posted 04-07-2013 02:00 PM ET (US) My 15 is insured through progressive with a "stated value". I chose them largely because a vessel assist captain who pulled my boat off the rocks once said they were & far & Away the best he's worked with. They were easy to work with and resonable in price.
Buckda	posted 04-07-2013 06:57 PM ET (US) Insurance is a funny game. To Peter's point - you liability exposure can be enormous - especially for medical. The decision you make about a carrier and policy, however, might just be more related to your net worth and true exposure to financial loss from a liability claim. If you don't have very deep pockets at all, then all the courts in the world can find you financially responsible and no one will get paid - because you just don't have it. I would say stick with insurers who have a strong track record for above-board dealing, but I can think of instances with pretty much every one where they tried to stick it to their policy holders for various reasons. It also greatly depends on how you use the boat and what you let people do aboard your boat. If you serve, consume or allow alcohol to be consumed aboard your vessel, then I strongly suggest that you can not "not" afford a good, solid, strong policy with plenty of liability coverage. If you tow skiers - especially your kids and/or their friends...then I suggest a solid, strong, beefy policy. If you just putter along in your boat on an inland lake or quiet river to go fishing now and again, then your exposure is much less (depending on the net worth of your buddies!). What I'm taking a long time to say is that you are better off discussing your needs with a qualified, professional insurance agent who can help you determine your exposure and coverage needs, and will help you find a policy that provides the best coverage within your budget. For that, I recommend an independent agent. **Disclaimer, my father and a close personal friend are both independent agents who work with several different companies to find coverage plans to fit the needs of their clients. I've never bought insurance through my father, however....but that's just because we don't mix business and family matters as a matter of general rule.
EJO	posted 04-07-2013 09:03 PM ET (US) I agree with the Safeco statement made B-4 and the use of a qualified independent insurance agent. This agent can determine what you need and you can determine if it is acceptable. Luckily I'm in a state where it is required to have insurance (liability minimum) as I do not want to be un-insured ever. It is one of those pests in life you can't do without as an accident might be around the corner and it can ruin you. (house, car, boat, medical, and even life are policies I don't like to pay for but happy to have when needed)
Brian7son	posted 04-09-2013 08:57 AM ET (US) I have had my boats insured with Progressive since 1999. I have had 2 major claims. The first time, they replaced my generator. They paid out over $10K and handled the claim very well. On the second claim I had an "Agreed Value policy" on my Conquest for $80K. The boat was totaled last summer and they paid me the $80K agreed value. I have no issues whatsoever with Progressive. On another note, very few other carriers offer "uninsured boater" coverage. In the event that another boater collides with your boat and god forbid, injures you or your passengers, the uninsured boater coverage would pay for your injuries in the event that the at fault guy carried either no bodily injury coverage or "the minimum" like many here say they carry.
Jefecinco	posted 04-09-2013 09:40 AM ET (US) Brian, Please correct me if I'm wrong, but I understand uninsured/underinsured boater/driver coverage is limited to the amount of medical coverage in your basic policy. So, if you buy this coverage you may wish to up the limits of the medical coverage in your basic policy. Butch
wbullwin	posted 04-09-2013 09:50 AM ET (US) Thanks everyone for your feedback. I am going to switch over to Progressive. Their premium is more than half what I am paying for BoatUS. My bad for not looking into this years ago. Butch, the uninsured/under insured coverage is a separate line item on the policy and you pick what coverage you want. As far as minimums, I have an umbrella policy with State Farm and they demand a $100K minimum liability. I think other companies do too.
Brian7son	posted 04-09-2013 04:52 PM ET (US) Jeffinco: The uninsured/underinsured coverage is different than medical coverage. Agents frequently misinform people (becuase they dont have claims experience) and advise them if they have health insurance they dont need uninsured motorist coverage. Medical Payments coverage: covers medical expenses and pays the medical providers directly or it will reimburse you if you paid the provider and have a receipt. Uninsured motorist coverage (In Florida): pays you for pain and suffering, scarring, lost wages, medical bills not covered by other sources, etc. Essentially, the polcy "steps into the shoes" of the at fault guy that caused your injuries and pays you what you would be legally entitled to collect from him. I have been a licensed claims adjuster in Florida for 20 years. I have 10 years experience working for insurance companies adjusting claims and 10 more years experience working at a law office handling claims for people. I dont want to put you to sleep with TMI on this topic, but if you have any questions shoot me an email and I'll be happy to answer. Take it easy, Brian
Brian7son	posted 04-09-2013 04:54 PM ET (US) Jefecinco: Sorry for the typo on your name
Jefecinco	posted 04-09-2013 07:11 PM ET (US) Brian, Call me Butch. Much easier. Butch
Marsh	posted 04-09-2013 08:46 PM ET (US) For several years, I have insurance via Progressive on my boat, Wave Runner, and two motorcycles, and have been very happy. Progressive is not the least bit put off by the fact that my boat engine horsepower exceeds the rated capacity of the boat. As far as claims, I totaled a motorcycle back in 2011, and Progressive paid the claim within two weeks. Their first offer, which I eagerly accepted, was for more than the bike cost me when I bought it seven months earlier. They offer annual policies, contrasted to semi-annual renewals required by many other insurors. Their constant commercials are a drag, but I kinda like Flo. I get comps every year from Allstate and State Farm, but those two can't come close. Happy customer here.
wbullwin	posted 05-06-2013 05:06 PM ET (US) I just wanted to give everyone that replied to my question about Progressive Boat Insurance an update as to what I have found out recently. I did a thorough comparison between Progressive and BoatUS. With Progressive I am getting better coverage for a lot less premium. One question someone raised earlier was "Consequential Damages". I emailed their Claims Department and asked the question "Point blank" to them, "Do you cover Consequential Damages?" Their answer is YES. They used the examples that if the boat sinks because of a faulty 2 year old bilge pump, they would not cover the pump but would cover the damages caused by the sinking. Also, if a shifter cable failed and causes a collison, the cable is not covered but the damages to the boat and dock would be.
swist	posted 05-07-2013 03:04 PM ET (US) With regard to umbrella policies, yes they take over when the normal policy can't cover the claim. But they all require the underlying regular policies to have max or very high limits. On the other hand they are relatively inexpensive. They are a pain to renew, however, since you have to give them proof that all the underlying policies are still in force, and to the specified limits. My agent, whom I trust in a big way, says that anyone with even modest assets really needs an umbrella policy - they can take your liability limits up to $1m or even more.
freebored	posted 05-09-2013 07:26 AM ET (US) "With regard to umbrella policies, yes they take over when the normal policy can't cover the claim. But they all require the underlying regular policies ..." Yes! I have a 15 footer center console. I only bought boat insurance because my carrier required it for the umbrella policy. I was about $100 a year, but for about $15 a year they added what I call tow insurance insurance. Sea Tow and the like are what(?) about $400 a year or maybe $400 for a tow if you don't have a policy with them? For $15 a year, my insurance company will reimburse me for the cost of a tow if I ever need one. Seems like a heck of a deal to me.
wbullwin	posted 05-09-2013 11:38 AM ET (US) BoatUS is $110 for "Unlimited" up to $1,000
Mambo Minnow	posted 05-12-2013 02:57 PM ET (US) For what it's worth, USAA is my main insurer but they don't write new policies in Florida. For new boat policies, they referred me to Progressive. I got a quote from BoatUS, which I am also a member and Progressive is quoting nearly half premium for the same coverage.