I got a comp/collision plan through progressive with a $500 “vanishing” deductible for $100. Seems like a no brainer for a $7000 boat.
Ya. I’m surprised how many people don’t carry Comp/Collision coverage on their boats. For how inexpensive boat policies are it seems like a No brainer to me as well. Enjoy the new Pontoon !!!
Well I learned a lot about insurance in the last 2 days. Turns out I have liability coverage for watercraft under 75hp through my homeowners insurance, which could then extend to my umbrella policy if I find a way to do over $300k of damage with my boat. According to Justin and other insurance brokers the permissive use stuff in MN covers whoever is driving.
So I could have left it at liability and not gotten a specific pontoon plan, but I got a comp/collision plan through progressive with a $500 “vanishing” deductible for $100. Seems like a no brainer for a $7000 boat.
Tindall,
Do yourself a favor and keep the boat on a separate policy from your home. It sounds good to save a couple of hundred dollars a year by having it as a rider on your home, but when you have a claim on your boat(because you hit a rock or something) and then that hail or wind storm comes through and does damage to your house in the same year. Now all of the sudden your company cancels you for the 2 claims in one year on your home. It is a pain to try and find reasonable insurance with a new company because of the claims history. Yes, I am an insurance agent but do not live nor am I licensed in MN so this isn’t a “call me for a quote” post. Just 21 years of experience trying to help out. Feel free to PM if you have any questions.
You must be logged in to reply to this topic.
