Boat insurance double what it was 10yrs ago?

Same boat, mostly same electronics but insurance skyrocketed ? Double what it was 10 years ago. What’s an 05 Ranger worth? It’s got to be less now?

7% annual rate of increase. Greater than the CPI but not outrageous for insurance given the increase in the value of boats and the cost of a new boat.

Often some insurance boat policies are at agreed on value policies and not ACV policies. If they are based on agreed on value, and you want to save some money on premiums, Make sure to keep the value listed up to date as the Value decreases. I know people who listed their value of their boat as 60,000 ten years ago and the boat are not near worth that value today. If they don’t call the insurance company / Agent to adjust the value they will be paying higher premiums based on the original value given at the time the policy was issued. This is only the case if the boat is on agreed value.
Another way to often decrease the premium is to look at higher deductibles. See far to many people with 60,000-100,000 boats or pontoons that have a 100.00-250.00 deductible. I’d think if you can afford a boat of that value you could afford a higher deductible.

Its up to $890 for an agreed upon value of $39,500

Buzz wrote:

Its up to $890 for an agreed upon value of $39,500

At what deductible and with how much personal property? That seems rather high

$5,000 personal property, $500 deductable

Buzz wrote:

$5,000 personal property, $500 deductable

That’s extraordinarily high. My ranger has same coverage and a replacement value of $50k. I pay $547 annually.

I agree that is really high. The boat I sold had a value of $65k and 15K rider for personal equipment. That was I think $680.

My agreed value of 42k, 5k tackle coverage, and $250 deductible is less than $200. Yours is high.

My boat insurance is literally the only policy that has continued to go downward in premium cost with the same coverage.

Every other policy has gone up, even without any claims submitted.

Crazy high.
I have Progressive and back in 2019 they paid for a totaled 620.
$442

Agreed price of $83,191
500K/500K
0 deductible for collision and comprehensive
Sign & Glide – on water towing
1M fuel and oil spillage
Propulsion Plus – replace the lower unit
Roadside Assistance
Fishing Equipment – 10k, 250 deductable