Boaters Insurance Recommendations?

[Nitrousbird]

One question though...if you choose to have a "lay up" period, are you not covered during those months? I don't ride in the winter, but if I felt like getting crazy in the cold of December, am I covered? How does that work?

You bascially can't use the boat during the layup period. I have mine set for early November through March. It is too cold here to even try boating during that period. I always have it winterized before November and I normally don't de-winterize it until early-mid April (depending on the weather), so it is a no-brainer for me. I guess if I ever take a vacation down south with it I might change that period but I've never done it before.

[Deven]

From skisafe site....

Q:Is my boat still covered during the lay-up period?

A:Yes, it is covered, but it must be out of commission (a PWC must be ashore) and cannot be operated.

Q:What if I want to use my boat during the lay-up period?

A:After review, we may endorse your policy for temporary use during your layup period, but you would not be covered unless you first call (or e-mail) us to request coverage for that use and receive confirmation that we have endorsed the policy accordingly. You can also remove the lay-up period at any time and be covered for year round use.

[JoeA]

Total insurance cost has a lot of variables. Most don't get a 500k liability, but I want a 1.5 mill coverage (combined with my umbrella policy). We take out a lot of kids and everyone is your friend until someone gets hurt. I dont want someone taking my house and everything else if they were injured. Your deductible also plays a factor in the total price.

I will more than likely go with Progressive again, they have a declining deductible. It drops $250 every year you don't make a claim. I was quoted $640 for the 13 vlx which I think is a fair price.

Thanks for all the feedback.

I spoke with our Allstate agent today about boat insurance. In my case if I bought insurance from another company our $1 million umbrella policy would not cover the boat and kick in if liability limits were exceeded on the boat policy. That's disappointing to hear however I'd rather know now. Don't assume your umbrella policies will cover your boat.....you need to ask the right questions.

[Fman]

Its already been discussed, this is why I have to have a $500k liability policy. Its part of the requirement of the umbrella policy.

[Hozzr1]

I have Norman spencer as well formally westmar. I pay $485 a year. Total new replacement the first 5 years of my boat( they buy my same boat new model year if something happens) knock on wood haven't had to use a claim yet. But..... Heard great things.

[whatsupd]

This is a great thread. Looking to pick up a boat. So many options!!!!

[mcdye]

i have had god luck with Progessive

[Wake4Fun]

You're misunderstood nyryan2001. The Indmar Factory 5 is indeed a factory direct engine warranty. Indmar offers 3 years of engine warranty. If you get a policy with Boater's, the Indmar factory engine warranty is extended for an additional 2 years. If there is something wrong with the engine that is under warranty, it's covered for 5 years. There is no deductible for factory warranties, there are for 3rd party extended warranties, which the Factory 5 is not. The Indmar Factory 5 is NOT a warranty through a Malibu dealer. Its a program offered by Boaters Insurance Agency for all boats with an Indmar engine. Supra, Moomba, Malibu, Axis, Sanger and MB Sports all recieve the Factory 5. In many states, the Factory 5 is less than a home/car insurance company that has far less coverage. The Factory 5 has only been in force for 3 seasons, so no one has had any experience in year 4 and 5. That will happen next year.

The more you read up on the +5 warranty the more you learn it's more of a sales gimmick.

First, it's not really a "warranty".... The word warranty tends to make folks think "it's covered". It's not... You pay a deductible ....and the "claim" is subject to review and approval. It's an insurance warranty thru a Malibu dealer, not a Malibu warranty. So in your case Fman, you still pay the first 800$ (roughly 10% of boat price) of that repair. More of a gimmick to sell boats and isurance as being "covered" for 5yrs. And yes you pay more for it comparatively. Think also that you are paying more for that coverage for the first 3yrs... And not even using it until a short window in yrs 4-5.

Has anyone ever used or heard of anyone using the warranty between yrs 4 and 5?

[cougzfan83]

I have Norman spencer as well formally westmar. I pay $485 a year. Total new replacement the first 5 years of my boat( they buy my same boat new model year if something happens) knock on wood haven't had to use a claim yet. But..... Heard great things.

x3 for Norman Spencer. Just locked my premium in today. $480 for 2013 MXZ. 300,000 liability, no lay-up period, insured for any driver, complete replacement for 5 years, then agreed value after that. For less options Boat US wanted to charge me $1100. I've also been told filing claims is easy with this company. Very responsive.

[PyleDriver]

I just got quotes from BoatUS, progressive, boaters insurance, & Ski Safe. Ski safe was the best deal with the options I wanted. Progressive was the highest by far.

So for sure get a quote from Ski Safe before you decide.

Mike

[rennis]

If you live in Washington or Oregon, Pemco is a great company to insure just about anything through. I insure all of my cars, my boat, and house with Pemco.

I would have to go back and look for the exact number, but I know our boat policy is less than $500 a year.

IMO, no one can touch Pemco when it comes to claims service.

[Chattwake]

This thread got me thinking about looking around to see if I could get a better rate for my coverage. Here's what I was quoted:

BoatUS - $520 annual premium for full coverage ($250 deductable, no layup period, agreed value of about 80k)

Boaters Insurance - $388 ($700 deductable, layup from November 1-March 1, 2014, agreed value of about 80k)

Because I don't use my boat from November 1-March 1 (they drop the water where I live), and because I probably wouldn't bother making a claim unless I had a significant loss (you end up getting crushed on rated down the line if you make a claim for something minor), I went with the Boaters Insurance policy.

Now, this does not include the Factory 5 deal. My premium would have been hundreds more to enrole in thait program. The agent I dealt with at Boaters was freaking awesome. Here are his details in case any of you guys are shopping around:

Morgan Swiggett
Boater`s Insurance Agency, Inc.
Email: [email protected]
Phone: 1-800-344-7488 Ext 510
Fax #: 1-800-837-1158
Ca Lic.# 0774116

[Chattwake]

Oh, and with the Boaters' Insurance policy, I got 9k more in medical payment coverage if someone gets hurt on my boat.

[Nitrousbird]

Oh, and with the Boaters' Insurance policy, I got 9k more in medical payment coverage if someone gets hurt on my boat.

Did you get a quote from Ski Safe? If not, check out their website and do an online quote (they have a really good online setup). I'm wondering if they beat Boater's price.

[40oz]

Update - if you live on the gulf coast, Ski Safe is cheaper, but they do not offer hurricane coverage. US Boat Insurance does. To me, hurricane damage to the boat is more likely than any other damage.

[PyleDriver]

Update - if you live on the gulf coast, Ski Safe is cheaper, but they do not offer hurricane coverage. US Boat Insurance does. To me, hurricane damage to the boat is more likely than any other damage.

Ski Safe does have named storm (hurricane) coverage but its a higher deductible then normal claims. I think the deductible is about double for the names storm. So if you have a $1000 deductible then it would be $2000 if the damage was from a storm with a name.

[Nitrousbird]

Ski Safe does have named storm (hurricane) coverage but its a higher deductible then normal claims. I think the deductible is about double for the names storm. So if you have a $1000 deductible then it would be $2000 if the damage was from a storm with a name.

This. My deductable is $500 and a named storm deductable is $1500. I didn't really care since my boat has never been in a state that borders an ocean.

[Fman]

I just insured my 13 vlx, ended up going with SkiSafe. $438 for a one year policy, $500k liability, $1000 deductible. It does have a 4 month layup period, you can still use the boat during this time but a phone call is required. We never go out Dec-March anyway.

[RJ1]

I will be getting rid of Boat US and will never look back. For those of you who have never had to make a claim with Boat US, I would find another insurance company before you do. They are a very shady business and depreciate all claims without telling customers this when they sell their policies. I bought a Boat US policy a few years ago after leaning about them from an ad. I called and spoke to them over the phone and signed up for a boat saver policy which they let me pick the value I wanted my boat insured for. Sounded like a good company with a lot to offer. Then I hit a low spot in the lake with my boat and had to make my first claim. I was sent about 50 percent of what the estimate was leaving me to pay around two thousand dollars. I was told it was because of depreciation and my boat is a 2005. I was never told this information when I bought the policy. Although my boat is a 2005 it is still worth a lot of money and I never would have purchased such a policy if I would have been told this information. It appears Boat US depreciates all claims weather you have a yacht policy or a boat saver, one just less than the other. What a scam, leave out the most important information to make a sale. Dump this company before you have to make a claim!

[Frog]

After reading this post I might be paying too much for my policy!! When I was shopping for my 06 response progressive was around 775/yr, I ended up going with geico who uses seaworthy as there underwriter for 550/yr, that's 100/300k with 250 deductibles, prop dmg, medical Etc. I'm doing a claim right now cause my boat sank :-/ but so far seaworthy has been really helpful. Just throwing them out there.

[JTech]

I always laugh when people want the cheapest insurance possible, especially in the boating world. Road's are bad enough and we know who the best/worst are there. On the water would seem a 1000x times worse to me. Idiots everywhere, crappy docks and crowded launch areas make for a target rich environment. I have had more near misses with the boat in the past 2+ years than in my car and I drive 25k+ a year in a metropolitan area.

$700/year is $58.33 a month. I would spend that all day/every day to make sure that my 60k+ boat is covered well and there is no question as to what will happen when a claim is made. That and the fact that the boat is #2 in value behind my house. Heck, the value of both my (used) cars doesn't equal have what the boat costs!

[itznowonder]

I am getting quotes for insurance on my 2013 VLX. Does anyone have a recommendation for a good insurance company? I used Progressive the last couple years but have heard they are not great for claims. Knock on wood, I have never had to make a claim... It would be nice to hear from someone who has made a claim and had good results with no issues on getting there boat repaired or replaced.

Thanks for any info...

Long story short version: Husband and i buy boat. Husband arranges for boat insurance. Husband dies. I keep paying insurance bills for boat. Storm Hits July 3 2012, $14,000 damage to boat. Progressive paid everything - no questions asked. When a few hairline cracks were not repaired initially they arranged to have the repairs done in the winter. Boat good as new now. full replacement coverage...should have cut the boat loose during the storm! Boat 2007 ride XTI progressive annual pmt $320. just got my renewal today. there is now a Named storm deductible. If I have loss due to a named storm I either pay the NSD, in my case $2326 or 5% of market value of boat... again in my case $2325.80. I'm not happy about the change.. guessing other insurance companies will start this as well.