Boat Insurance

Is there a good way to go with this? Mine is with my home and im thinking there is a better way. Whats your thoughts on this?

I have my boat insured with state farm. I think most insurance companies are prob the same. The boat, trailer and motor are all listed seperate on the policy. I have a $250 deductable. They will replace if it can’t be fixed. I think I pay $200-300 per year for an 03 1800 fisherman with a 150 optimax. I do think it pays to call around for quotes. A few years ago my previous boat had an argument with a big rock a and lost. No hassles at all with the claim.

One thing to consider is getting a stand alone boat policy instead of scheduling it on your homeowners. A boat policy provides better coverage usually and a loss on a boat policy will not result in cancellation of your homeowners insurance. Just some thoughts.

I too, have seperate boat insurance with a company called Foremost. I have made a claim as well with no problems, check in the mail ASAP, and no spike in rates because of it.

I have American Family full coverage $139 on a 2004 17′ w/ 115hp

Farmers switched me to Foremost about one year ago, as yet I have had no claims. Foremost costs are the best I could find and I hear they cover a lot of boats in the midwest.

Scott is right. Shopping around for a separate boat policy is very beneficial to the boat owner. There are some coverages that you may be missing if you schedule under your homeowners policy. Foremost and Progressive are good companies to look at. Also check with your current insurance company if they have the ability to write a separate boat policy. You may want to think about covering your boat for replacement cost vs. actual cash value. If you insure for replacement cost, the premium will be more, but it may be worth it when your boat is 5 years old and worth much less.

Arjak’s sweetie – an independent insurance agent

i just got a price from progressive they want a grand a yr. I think im gonna shop around and see if there is a difference in price

$1000/yr?!?!?!?! I have progressive insurance for my 2004 C-liner Fishawk with 115 4 stroke, and my annual premium is less than $200, and that includes a separate rider for equipment. What kind of boat are you trying to insure?? Something doesn’t seem quite right to me about that number.

the $1000 is about what im paying where im at now. I dont know …you guys say 200 and 300 a yr…im thinking im doing something wrong….Skeeter ZX 200 with 200 mercury…..what about you Bass guys,,,,are you doing about the same numbers i am

I have my ts192 insur3ed with progressive for 37k and it costs me $400 year that is with all gear ant total loss replacement and if you don’t have any claims in a year it will drop 25% the next year. At least thats what it did in my policy

Dan I just did a Bass Cat Cougar with a 225 Opti for < $250 with State Farm in Onalaska, Mike Noelke. My walleye boat with the 90 on it was $140. Are you carrying a large amount of liability or a low deductible ??

I have a brand new 2005 Ranger DVS with a 225 HO Evinrude and I pay $275 with a claim from prior year. The prior year claim raised my deductible from $250 to $500 but like Tim said above the premium remained unchanged and it covers everything. Check with Larry @ Farmers Insurance Group 507-452-5916 (Winona, MN)

alright ….thanks guys…i knew i had to be paying way to much…..im gonna call both them numbers monday…thanks again…ya just gotta luv this site

Anglers Advantage Insurance.

They are the best, and one of the few who offer commercial liabilty on your boats if you guide or fish tourneys.(FYI…Homeowners WILL NOT cover any type of commercial liability in case of any accidents.)

Less than a hundred dollars a year of full coverage on my Ranger with Farmers,but I also have my house and cars covered with them.

Its not hard to get a price like that if your boat use is purely recreational. What I was saying is if you use your boat in any commercial activity such as guiding, or competeing in tournaments, your homeowners policy will not cover any liability claims on your homeowners policy.

My insurance costs me about $470/yr. as a guide. That is with $500,000 liability, and pretty soon, I’m going to raise it to an even million liability. Thats on an 1895 Yar-Craft SC with all my electronics and also $5000 personal equipment coverage.

Yea my boat is in the water about nine or ten times a year.

Be sure to check what “Personal Equipment” means by reading the policy under “definitions”. You may be covered under your Homeowners or Renters policy under the “Personal Property” heading. A Sonar, GPS is Personal Property, it just happens to be away from your residence when you go fishing. Just like if you have a theft from the boat of clothing, rods, electronics, etc. These are all considered Personal Property; Homeowners policy covers the loss. By having coverage from a homeowners policy you can save the few bucks a year on premium.
Keep in Mind: One thing insurance companies are looking at is getting rid of insureds that have claims. They look at frequency and severity. How often a claim, how severe the loss amount. If you have had a claim in the last 5 years, maybe a “Personal Equipment” endorsement on your separate boat policy is better. That way, if you have another boat related Personal Property loss, your Homeowners policy is not at risk for cancellation.
Check with your agent about your specific situation. If he doesn’t know, get a new agent.

I understand what your saying. Another thing to consider with having everything covered under your homepowners policy is that if you have to make a claim, most homeowner policies are a $1000 deductable!