I have "scheduled" my tackle under my homeowners' policy with $0 deductible, and depending on the values you've got, if you can afford to self-insure, and whether or not you travel with it a lot, you may consider doing the same.

It is on a Sports Equipment Floater Endorsement. My insurance carrier allowed me to schedule it loosly witout a super detailed inventory list and declare the Replacment value of it all.

I listed each rod and reel individually, but with the lures, boxes, accessories, etc, I just came up with an average value per type x # of lures, and determined a value for the lot. For example, 50 cranks at $6 average per bait=$250.

You'd be amazed how chep it is. I don't want to admit here, how much stuff I have, but to insure the whole lot was around $140 per year with $0 deductible.

At the very least, you need to inventory your stuff, and keep the list, pictures, off-site. I have a feeling a lot of claims adjusters will have a hard time believing you have $____ thousand of fishing poles and crickets.

Yes, you can transfer the risk of a pure loss event to an insurance carrier.

I never gave this transfer any thought but will call my carrier, USAA, and ask them if they will allow me to do so on my PAF.

Thanks for the tip.

My home owners won't do that kind of coverage.  The stuff in the garage or house is covered under the home owners.

My stuff in the boat is covered as long as the boat boxes are locked. It is funny that my depth finders are not covered in locked boxes but are covered if left on the boat (makes no sense to me). I spread all my stuff out and took digital pics and put them in the puter.

I dont have mine insured but in the winter I take pics of all my gear showing whats in each Plano

I have an excellent policy: anyone who is follish enough to touch my stuff, gets their neck broken, funny I am never missing anything

;D  Muddy, I like the way you think!

I have a "sports equipment" rider on my homeowner's policy that provides an extra $10,000 worth of comprehensive coverage for my guns, fishing equipment, etc.   My boat insurance also provides additional protection for certain losses.

Your homeowners (or renters policy) should provide some level of protection.  But if all you have is a homeowners or renters policy and you don't have a comprehensive rider on your policy, or a separate policy for your sports equipment, DON'T ASSUME you are covered properly.  Your policy may give different level of protection depending on whether your loss was due to fire or theft.   Could be that the coverage you think you have is totally inadequate.  

READ YOUR POLICY.  As Shadcranker pointed out, coverage for this kind of stuff is cheap.  

Being an Insurance agent i will add my two cents.  One of two options as stated before:

1. Schedule under your homeowners policy with no deductible. Document and take pictures, and send pics to agent. Very cheap and comprehensive.

or

2. Most boat policies will allow you to increase your coverage for personal items in your boat...depth finders, tackle, rods and reels. (i know progressive will)

Most people do not think of doing this until it is too late. The same thing goes with guns and golf equipment. Better safe than sorry.

In addition, i know most tournaments require at least $300,000 liability for your boat. If you do not have your boat insured under your homeowners policy ask your agent if that is possible. it is usually cheaper and you can increase your liability for a lot less. i know each state has different rules but my state will allow that.

Now i guess i will get back to quoting and writing policies and quit thinking about fishing.

-chase

-chase

Thanks, I had forgotten about that but I think i'm covered under my boat insurance. I remember giving a round about total when we took out the policy. Better go check. Thanks again

Being an Insurance agent i will add my two cents. One of two options as stated before:

1. Schedule under your homeowners policy with no deductible. Document and take pictures, and send pics to agent. Very cheap and comprehensive.

or

2. Most boat policies will allow you to increase your coverage for personal items in your boat...depth finders, tackle, rods and reels. (i know progressive will)

Most people do not think of doing this until it is too late. The same thing goes with guns and golf equipment. Better safe than sorry.

In addition, i know most tournaments require at least $300,000 liability for your boat. If you do not have your boat insured under your homeowners policy ask your agent if that is possible. it is usually cheaper and you can increase your liability for a lot less. i know each state has different rules but my state will allow that.

Now i guess i will get back to quoting and writing policies and quit thinking about fishing.

-chase

-chase

Im a fellow insurance agent myself! nice to meet ya Chase

if anybody has any questions about this and lives in PA, call my agency (610) 539 9000. ill steer you in the right direction

Pretty much everybody on here has it right. Many homeowners policys will allow you to schedure your stuff under sports Equip floaters, etc

I could use that. BPS jsut garnishes my paycheck!  

Very wise thing to do here, I leanred the hard way. My boat was hit 2 times last year and my insurance didn't cover a thing..... 3000+ down the drain.

Its a lot cheaper to pay a few bucks extra per month even if you never use it, because 1 time and you will wish you did. :'(

Just be sure to check the policies you already have.  Years ago I had my stuff stolen, it was covered under homeowners since i was at out lakehouse and the boat was in the boathouse.  I found out afterwards that my boat policy would have covered it under the "contents" portion.  

The point is that many of you already have coverage, and might not know about it.  As stated, read your policies (boat, auto and home/renter's) and know what you are paying for.