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dkthorn

Boat Insurance

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dkthorn

Hey Crew,

I have boat insurance through Boat US and was wondering if any one has it through Geiko or Progressive?

If so, do you like their coverage and have you had to make any claims? If a claim was made were you satisfied?

I was told all insurance boat policies are written the same, it just depends on the covergae you want is what makes the cost change.

Thanks for your help,

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MexTex

I've had Progressive, but I didn't have to make any claims. Their policy seemed pretty average, but they're prices were way too high. I've been with SkiSafe for about 7 years now. Great prices and they stayed great even after I made a claim for $12,000. Excellent to deal with. I live in Galveston County so I'm sure our prices are higher than in most places...especially after the storm. With Progressive I was paying $875 a year and with SkiSafe I'm paying $515 a year....same boat same policy.

Edited by MexTex

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MaddMaxx

I work for a very large insurance company. I don't have any insurance through them though because my Dad was an officer in the military and I have USAA. USAA doesn't write boat insurance anymore. They have an arrangement with Progressive. Never had a claim with USAA. Had one claim with Progressive and it was okay, but having been an auto claim rep at one time, I was surprised to find out about the depreciation taken when replacement parts were needed. That doesn't happen with cars. Anyway, I just bought a 2008 VLX and had BoatUS give me a quote. They were very thorough and had the coverages I wanted, like zero depreciation and a stated value policy. The company I work for is very good, but they specialize in auto and homeowners, not boats (and motorcycles). So far, I'm happy with BoatUS. If USAA starts writing boats again, I might go back.

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JDubya

I have Texas Southern Farm Bureeau and they are substantially less than any other company I have compared to. There are various Farm Bureau agencies around the country. If you are intersted in what specifically I am paying or finding a agent in your region. Let me know.

I have an uncle who is the Regional Manager for Harris County (basically all of Houston and surrouding area) and 3 of my cousins work as agents for him.

They also have great HOME, AUTO AND LIFE insurance rates. I have yet to find anyone cheaper.

http://www.fb.org/index.php?fuseaction=newsroom.statefbs

And yes I have had several claims (auto) and I have been very satisfied. No claims on the boat....yet Clap.gif

Edited by Ramman17

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areamike
I've had Progressive, but I didn't have to make any claims. Their policy seemed pretty average, but they're prices were way too high. I've been with SkiSafe for about 7 years now. Great prices and they stayed great even after I made a claim for $12,000. Excellent to deal with. I live in Galveston County so I'm sure our prices are higher than in most places...especially after the storm. With Progressive I was paying $875 a year and with SkiSafe I'm paying $515 a year....same boat same policy.

Plus1.gif

SkiSafe here too. I was with American Family that has my cars, home and life, but SkiSafe beat them by about 200 bucks per year for my boat.

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davemac

Just a Heads Up...as was discussed on a thread last year, be aware whether or not your policy has a "navigational period" or "lay up period" clause in it, which limits your coverage only to losses occuring "in season"...however that is defined by the policy.

Someone here hit an underwater stump in very early Spring (1 week before "navigational period" kicked in) and had the claim denied.

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JDubya

Ok....since areamike threw it up I'll bite.

I pay $196 annually with a $500 deductible. Granted my boat is valued less than some of the newwer boats but I haven't found a better rate yet.

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JDubya
Just a Heads Up...as was discussed on a thread last year, be aware whether or not your policy has a "navigational period" or "lay up period" clause in it, which limits your coverage only to losses occuring "in season"...however that is defined by the policy.

Someone here hit an underwater stump in very early Spring (1 week before "navigational period" kicked in) and had the claim denied.

This is a excellent point, and one most people are not aware of. My policy is effective year round for inland use.

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Bobby Light

I pay just under $500 for my policy through American Family Insurance. Agreed replacement value, and low deductables and higher coverages than what I was getting elsewhere. They crushed the quote I got from BIA and Boat US. I don't have any other policies with them either.

The guy that bought my 06vlx ran it up on some rocks at 40 mph 3 weeks after he bought it and the damage came out to nearly $20K. This individual had the same insurance company so I had my local dealer that handled the repair let me know how they were to deal with. They said they were fine to deal with so that was good enough for me. This is after the guy only made one payment to them.

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Baddog
I pay just under $500 for my policy through American Family Insurance. Agreed replacement value, and low deductables and higher coverages than what I was getting elsewhere. They crushed the quote I got from BIA and Boat US. I don't have any other policies with them either.

The guy that bought my 06vlx ran it up on some rocks at 40 mph 3 weeks after he bought it and the damage came out to nearly $20K. This individual had the same insurance company so I had my local dealer that handled the repair let me know how they were to deal with. They said they were fine to deal with so that was good enough for me. This is after the guy only made one payment to them.

Ouch. What got damaged that cost $20K? the whole hull?

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Bill_AirJunky
SkiSafe here too. I was with American Family that has my cars, home and life, but SkiSafe beat them by about 200 bucks per year for my boat.

Don't do anything even slightly abnormal with SkiSafe. No AirChair, no SkySki, no parasails, no kite tubes, no wake kites, no nada. They have a history of weaseling out of claims.

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Bobby Light
I pay just under $500 for my policy through American Family Insurance. Agreed replacement value, and low deductables and higher coverages than what I was getting elsewhere. They crushed the quote I got from BIA and Boat US. I don't have any other policies with them either.

The guy that bought my 06vlx ran it up on some rocks at 40 mph 3 weeks after he bought it and the damage came out to nearly $20K. This individual had the same insurance company so I had my local dealer that handled the repair let me know how they were to deal with. They said they were fine to deal with so that was good enough for me. This is after the guy only made one payment to them.

Ouch. What got damaged that cost $20K? the whole hull?

All the running gear got torn off, pushed the fiberglass up so high it crunched the oil pan which delaminated the fiberglass in that area of the boat. Engine/tranny/vdrive had to be pulled along with all the interior and flooring. Boat was tilted up on it's side to be fixed. Repairs took like 3 months.

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areamike
SkiSafe here too. I was with American Family that has my cars, home and life, but SkiSafe beat them by about 200 bucks per year for my boat.

Don't do anything even slightly abnormal with SkiSafe. No AirChair, no SkySki, no parasails, no kite tubes, no wake kites, no nada. They have a history of weaseling out of claims.

My cousins have had nothing but success with claims. One claimed he needed all new stringers in an 81 MC he was restoring. Sent them pics and they sent him a check to pay for it all. His rate has not gone up either. I guess some have success and others don't.

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birsling79

I have my boat as a rider on my homeowners policy. I am not an agent, and use Country Insurance and Financial out of the Midwest. If you have too many boat claims they just break the boat off onto a seperate policy then (instead of raising the home). Works pretty well so far, though I have not had a claim

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Bill_AirJunky
SkiSafe here too. I was with American Family that has my cars, home and life, but SkiSafe beat them by about 200 bucks per year for my boat.

Don't do anything even slightly abnormal with SkiSafe. No AirChair, no SkySki, no parasails, no kite tubes, no wake kites, no nada. They have a history of weaseling out of claims.

My cousins have had nothing but success with claims. One claimed he needed all new stringers in an 81 MC he was restoring. Sent them pics and they sent him a check to pay for it all. His rate has not gone up either. I guess some have success and others don't.

This doesn't sound terribly abnormal to me. Regular ski boats.

I was working on the project to start USA Hydrofoil, the hydrofoil arm of USA Waterski (who works closely with Ski Safe). I personally had Ski Safe insurance & they knew we were riding foils all the time. With no claims, no tickets, no offenses, in 2001 I was canceled from Ski Safe with the only explanation being that they don't cover AirChairs & SkySkis. Since then I can give you a list of people who were canceled for the use of parasails, kite tubes & wake kites (which were all legal at the time). No one I was in contact with was given an option to get rid of the toys (like when kite tubes were banned). They were just canceled. Makes it hard to get insurance the next time.

If your having good luck with them, more power to ya. But if your into anything outside of 3 event, check around a little more. You will find better coverage for comparable rates.

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bretski75

I was with Ski Safe for a while, good price, never had a claim, so can't really speak to that. Am Fam I was't really thrilled with because they didn't offer me a stated policy, which was important to me, and they had some strange language about freeze damage.

Now I have progressive, price is excellent, and on paper the coverage is great. I guess I won't really know until doomsday though. I tried to go through my State Farm agent for it but she couldn't come close and acknowledged that.

Edited by bretski75

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Soon2BV

We have our homeowners and auto coverage through State Farm and added the boat to it.

Annual premium is about $450 / year to cover the boat in use or in storage.

(2008 Sunscape - I think i insured the boat for $45,000 and the trailer for $6,000).

The nice thing about bundled coverage is a single bill (I pay 1/12th of the combined total each month) and multi-policy discounts.

If something really, really, major would happen, the liability coverage from one policy could kick in help pay if needed.

Also, with a single company covering it all, i don't have to worry about an argument of if the damage should be covered by the homeowners policy, or the truck policy, or the boat policy, depending on where a claim event occurred.

I have been with State Farm since 1981. I am sure i could save a few $$ by going to some other companies, but, What i like best is that i have a specific agent that I call with any issues and he handles it for me. And, State Farm will (and has) step in and pay a claim while they argue responsibility with another insurance company, so I don't have to do it.

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martinarcher
We have our homeowners and auto coverage through State Farm and added the boat to it.

Annual premium is about $450 / year to cover the boat in use or in storage.

(2008 Sunscape - I think i insured the boat for $45,000 and the trailer for $6,000).

The nice thing about bundled coverage is a single bill (I pay 1/12th of the combined total each month) and multi-policy discounts.

If something really, really, major would happen, the liability coverage from one policy could kick in help pay if needed.

Also, with a single company covering it all, i don't have to worry about an argument of if the damage should be covered by the homeowners policy, or the truck policy, or the boat policy, depending on where a claim event occurred.

I have been with State Farm since 1981. I am sure i could save a few $$ by going to some other companies, but, What i like best is that i have a specific agent that I call with any issues and he handles it for me. And, State Farm will (and has) step in and pay a claim while they argue responsibility with another insurance company, so I don't have to do it.

Dang that's good. We have 4 cars and the house through State Farm and our annual premium for our boat is $356! It is probably worth a fifth of what your is! Time to start shopping again.....

EDIT: I think total value insured boat and trailer is $9000!

Edited by martinarcher

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Soon2BV
Dang that's good. We have 4 cars and the house through State Farm and our annual premium for our boat is $356! It is probably worth a fifth of what your is! Time to start shopping again.....

EDIT: I think total value insured boat and trailer is $9000!

I think the majority of the premium is liability coverage so the actual boat value doesn't impact it much.

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OTN

I go with State Farm for ALL my insurance issues- I like the idea of having a "guy" that I can call for any and all insurance.

Related to this topic, I'll put in another plug for umbrella insurance. It costs me $11 a month and covers any damages above and beyond what your normal boaters/homeowners/auto/etc policy covers, to $1 million. This saved me BIG TIME when there was an unfortunate incident on my boat which resulted in injury. I was sued for $800k, but State Farm settled out of court for $400k. Didn't cost me a dime, and they didn't drop my boat OR umbrella coverage.

I was in another boat incident this year (not my fault this time) and the guy who hit me was covered by SkiSafe. From a "guy trying to get his boat fixed" perspective they were great to deal with.

t

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Greg_S

Boater's Ins Agency / Vigilant Ins Co. $595/yr. Had 1 calim when some bozo sideswiped my boat/trailer on the freeway and they handled the claim like champs.

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Bobby Light
I was with Ski Safe for a while, good price, never had a claim, so can't really speak to that. Am Fam I was't really thrilled with because they didn't offer me a stated policy, which was important to me, and they had some strange language about freeze damage.

Now I have progressive, price is excellent, and on paper the coverage is great. I guess I won't really know until doomsday though. I tried to go through my State Farm agent for it but she couldn't come close and acknowledged that.

Better check the fine print of your policy. Many don't cover that.

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dkthorn

Appreciate everyone's in put - I'll definately check around. Never thought of the umbrella coverage, I'll call my agent tonight.

Rockon.gif

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gargaro

Global Marine Insurance Is Awesome Too.

If you boat is covered through your homeowner policy and you make a claim it may raise premiums on everything with that policy. I have heard that you are best off to do boat insurance separate, with companies such as Global Marine Insurance, Ski Safe, etc.

Paper work wise its easier to do it all with your homeowners, but if you need to make a claim I think it is in your best interest to keep it separate and not jeopardize all of your premiums.

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Baddog
Appreciate everyone's in put - I'll definately check around. Never thought of the umbrella coverage, I'll call my agent tonight.

Rockon.gif

In our litiguous society, if you make any money at all, you NEED umbrella ins.

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