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Insuring your boat


GrahamM

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Hey,

I recently purchased a boat and was just getting it insured... I'm originally from Canada and up there you're able to insure the motor incase of failure... I asked my insurance agent about this and she said they don't have anything like that. Do you guys get an insurance policy like that? If so where from and what sort of cost is it?

FYI - I have a 05 WakeSetter VLX and its insured for $350/yr via AmFam in the Seattle area.

I'm open to switching insurance companies if there is a better company to insure through... it just not as easy as shopping for car insurance.

Thanks,

Graham

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Hey,

I recently purchased a boat and was just getting it insured... I'm originally from Canada and up there you're able to insure the motor incase of failure... I asked my insurance agent about this and she said they don't have anything like that. Do you guys get an insurance policy like that? If so where from and what sort of cost is it?

FYI - I have a 05 WakeSetter VLX and its insured for $350/yr via AmFam in the Seattle area.

I'm open to switching insurance companies if there is a better company to insure through... it just not as easy as shopping for car insurance.

Thanks,

Graham

I had AmFam but just switched to Pemco. When I read my amfam policy I thought the motor was covered for anything other than freezing due to not making an attempt to winterize.

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Are you talking about breakdowns from accidents or mechanical failure from normal use? I once had a Sea Ray and ran it in shallow mud by accident. Note I said shallow mud, not water. The engine overheated and died. I called my insurance company and they covered the $1,400+ engine repair.

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So I haven't gotten my policy yet so I can't read it... however, the agent said it wouldn't be covered. I was talking about mechanical failure from anything but wear and tear (water in pistons, cracked block from winter, random act of god etc). But I guess the general consesus is that they don't do that?

Thanks,

Graham

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So I haven't gotten my policy yet so I can't read it... however, the agent said it wouldn't be covered. I was talking about mechanical failure from anything but wear and tear (water in pistons, cracked block from winter, random act of god etc). But I guess the general consesus is that they don't do that?

Thanks,

Graham

Graham,

Witch company insured your Wakesetter in Canada. $350.00 is a great price I pay double here in Canada for same boat. :cry:

Rgds

post-12114-012727300 1293111378_thumb.jp

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Graham,

Witch company insured your Wakesetter in Canada. $350.00 is a great price I pay double here in Canada for same boat. :cry:

Rgds

$350 is what I pay down in the US at American Family. I just got the boat so I never insured it in Canada... The reason I know they have that coverage is my brothers boat (he still lives in Vancouver) is insured and he's had the engine replaced via insurance when it failed. However, in general, its far cheaper for insurance in the US... my car insurance got cut in half when I moved South, so I'm not surprised that boat insurance is also half the cost.

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What you have in mind is an engine warranty. I suspect you should be able to get a policy that would cover the boat. There are a number of companies that provide these for cars and I would check with them about marine policies.

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Hey,

...FYI - I have a 05 WakeSetter VLX and its insured for $350/yr via AmFam in the Seattle area.

I'm open to switching insurance companies if there is a better company to insure through... it just not as easy as shopping for car insurance.

Thanks,

Graham

I just got my 2011 renewal notice from ACE USA (Global Marine) for my '05 RLXI. $266 a year for $28.5K coverage + $3K on the trailer. And this just after they paid out $4K in late October to fix damage after I hit a submerged log the last weekend of September (lake we don't go to too ofter, long story). Handled the claim in what I though was a reasonable amount of time and were reasonable to deal with. I can't say that they're BETTER, but for the price and the service I have gotten IMO they ain't too bad.

Ed

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Boaters Insurance Agency. I have been recommending them for years and also they are now part of an extended warranty program with Indmar. Their price are fair and the coverage can't be beat when it comes to the marine world. I think ACE may be one of their underwriters still?

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Boater's Insurance Agency is the only Agency that offers a 5 year factory direct warranty on Indmar engines. Boat has to be 2011 or newer.

GrahamM, the only way to insure or warranty your 2005 engine is to purchase an extended engine warranty. They are very limited and can cost a lot of money. Best of luck!

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I just got my 2011 renewal notice from ACE USA (Global Marine) for my '05 RLXI. $266 a year for $28.5K coverage + $3K on the trailer. And this just after they paid out $4K in late October to fix damage after I hit a submerged log the last weekend of September (lake we don't go to too ofter, long story). Handled the claim in what I though was a reasonable amount of time and were reasonable to deal with. I can't say that they're BETTER, but for the price and the service I have gotten IMO they ain't too bad.

Ed

Hey Ed,

Is that price for $500 deductible with no layup period(yearound use)?

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