paparock Posted February 14, 2006 Share Posted February 14, 2006 The "Sick Feeling" post made me think! What has been the best Insurance Companies to get for boat insurance. Best coverage, price, ease to deal with etc.? Such information can help others from making some very expensive mistakes. Let's hear your experience to help our fellow fishermen and boat owners especially first time boat buyers. I'll start off. Since I have State Farm insurance on my house and autos it was natural to check them out for my boat insurance,. For my new 20ft. fishing pontoon it was $206 for a year with a $250 deductible. I have never had to use my boat insurances but would like to hear form those that have. Quote Link to comment Share on other sites More sharing options...
DDbasser Posted February 15, 2006 Share Posted February 15, 2006 Paparock, I use State Farm for all my insurance home, auto, and boat!! I called a ton of different companies and State Farm was the best deal I could find. I've never had to use the boat insurance, but my wife wrecked my truck and they sent an adjuster out to my house and wrote me a check for $300 more than the estimate that I received from the body shop. My boat insurance runs me $245 a year for a 2001 Tr-186 Triton, 150 Johnson with a $250 deductible and I also have $300,000 liabilty for tournaments. Quote Link to comment Share on other sites More sharing options...
fishinfool Posted February 15, 2006 Share Posted February 15, 2006 I just bought my first bass boat last year. It's nothing special but it gets the job done and pretty fast for the size of it. I haven't bought insurance yet but I really need to, only being 19 if i were to get in a wreck with my boat or truck theres no way i could come up with the cash to cover it. Quote Link to comment Share on other sites More sharing options...
sodaksker Posted February 15, 2006 Share Posted February 15, 2006 Good post. Just got me thinking so I had to call my Farm Bureau agent. I have a 2000 procraft 215 with 225 merc, boat and trailer are $210/year with a $1000 deduct. For $258/ year or $48 more per year, my deductible would drop to $250. With my poor driving and trailering skills I probably ought to change it. Quote Link to comment Share on other sites More sharing options...
texasbass1 Posted February 16, 2006 Share Posted February 16, 2006 I would highly recommend you check out Anglers Advantage Insurance. www.anglersadvantageinsurance.com I have use them for years and they are a great company. Competitive rates and if you need to file a claim you will recieve quick, friendly service. I unfortunately had 3 claims in 18 months, settled quickly without any hassles. Best of all, no rate increase. Check them out. Quote Link to comment Share on other sites More sharing options...
Pa Angler Posted February 16, 2006 Share Posted February 16, 2006 I also use my car insurance co for my boat which is Erie Ins. I tried the free quotes online with Progressive I sent for 6 quotes and all 6 came back with different costs IMAGINE THAT. Chow The Pa Angler Quote Link to comment Share on other sites More sharing options...
bassnleo Posted February 16, 2006 Share Posted February 16, 2006 I also use my car insurance co for my boat which is Erie Ins. I tried the free quotes online with Progressive I sent for 6 quotes and all 6 came back with different costs IMAGINE THAT.Chow The Pa Angler I have Erie for 1 boat, Progressive for another. I'm thinking about switching both to Progressive due to some horror stories I've heard about Erie not covering you if damage occurred while in a tournament. I'm going to make some phone calls on this and will post what I find out. Quote Link to comment Share on other sites More sharing options...
Super User flechero Posted February 16, 2006 Super User Share Posted February 16, 2006 I've had State Farm and Farmer's both, only used State farm... what a nightmare. I had 3 autos, 2 houses and a boat with them... the 17 yr old drunk driver that hit my boat (while it was parked on the trailer, in my driveway) also had State Farm. I naively though since we all had state farm, it would be as quick and easy as could be. I had to actually get an attorney involved to finally get it straightened out. It took 11 months to get it fixed and paid for. > And no, insurance doesn't cover your payments while it sits 11 months waiting on them to figure out how to screw you. I still spent over $1000 out of pocket to fix what insurance didn't. I'm still mad about it... and that was almost 8 yrs ago. Farmer's quit writing boats so I went back to state farm... now I have just the basics since all the extras I was originally paying for didn't ever pass the claims dept. On the flip side, I have always had fast perfect service on auto and home claims, which is why I still have them. (and the multi item and policy discounts almost pay for the boat coverarge by themselves.) So if anything else happens, at least I haven't paid much for the coverage. Quote Link to comment Share on other sites More sharing options...
TLBassin Posted February 17, 2006 Share Posted February 17, 2006 I just bought my first bass boat and was thinking about insurance. Its a 95 stratos 278 with a evinrude 130 on it. I know this may be a dumb question in since, but since it is not brand new anymore, would it still be worth me payin out the money for insurance each year to cover it? Quote Link to comment Share on other sites More sharing options...
Super User flechero Posted February 17, 2006 Super User Share Posted February 17, 2006 I just bought my first bass boat and was thinking about insurance. Its a 95 stratos 278 with a evinrude 130 on it. I know this may be a dumb question in since, but since it is not brand new anymore, would it still be worth me payin out the money for insurance each year to cover it? Probably... consider the following: If it were wrecked, lost, or stolen tomorrow, do you have the cash to replace it? God forbid you had an on the water accident with injuries, would you be able to cover the medical liabilities and the other boat(s) if it's your fault ? What if it's not your fault and the other guy doesn't have insurance, how do you pay for medical and property costs? Maybe I'm just paraniod these days but insurance is a must have for me. In some cases, auto and homeowner's covers certain things but they do not cover all your needs. Mine's a 94 Champion, I still insure it. The cost is largely based on replacement or book value (depending on which company you go with) so as your boat depreciates, your premiums go down as well. Quote Link to comment Share on other sites More sharing options...
BillyBob Posted February 17, 2006 Share Posted February 17, 2006 This is not intended to be a commercial for State Farm. I was pulling into weigh-in on Kerrs Regional BASS Series last Oct. Congested wasn't the word for it, when the prop hit the bottom and knocked boat out of gear. I smacked another brand new Triton. $3500 damages. My agent never batted and eye. Replaced all new for the other guy. Funny thing it never even scratched mine. My premium didn't raise either. Two phone calls...done. The other guy lives 400 miles from me. Thats service. I'm sure it depends on your agent. Quote Link to comment Share on other sites More sharing options...
Super User Sam Posted February 19, 2006 Super User Share Posted February 19, 2006 Great question; hard answer. There are two types of direct damage insurance for watercraft: Replacement Cost (new for old) and Actual Cash Value (depreciated value). Unless you request and are granted Replacement Cost coverage all boat insurance will be settled on an Actual Cash Value basis, meaning that you will be screwed. Third-Party liability is also a part of your boat insurance and you should have at least $1,000,000. Now, don't go nuts on me before getting the quote for the higher limits. Underwriters know that all boat accidents will be settled for under $100,000 so to go to $1,000,000 is not that costly. Also, if you have assets to protect you need an Excess Liability policy (sometimes called a Personal Umbrella policy) for another $1,000,000 over the primary limits of your homeowners, auto, motorcycle, boat and rental properties liability insurance. As for the premiums, Progressive can give you Replacement Cost coverage for over $1,000 a year while USAA can give you Actual Cash Value coverage for under $150 a year. So, if you want to transfer your exposure to an insurance company be ready to pay the premium. If you want to assume more of the exposure you will pay more. Simple, isn't it????? Quote Link to comment Share on other sites More sharing options...
Super User Sam Posted February 19, 2006 Super User Share Posted February 19, 2006 Opps! I meant that if you assume more of the risk you will pay less. But please remember the first rule of Risk Management... "Don't Risk A Lot for A Little." Think about it in all of your insurance exposures. Transfer the exposure to an insurance company and sleep like a baby at night, especially for the third-party liability insurance. Quote Link to comment Share on other sites More sharing options...
Bass Hammer Posted February 19, 2006 Share Posted February 19, 2006 Another interesting thing to look at is how much of your personal gear would be covered. I have progressive. They consider tackle, rods, etc. personal gear. When I looked to see how much of that was covered I was shocked. Not even close. I had to raise it. Quote Link to comment Share on other sites More sharing options...
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