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Boat Insurance


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5 hours ago, minnmarker said:

If you go with a different company and have an umbrella policy (or assets to sue for) make sure any boat policies qualify to fit under the umbrella policy.

Great point!!!

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State Farm is who we go through. It’s like $390 a year for full coverage on our 2020 23 MXZ. I looked into actual boat insurance companies and it was more. It was easier to just put it on my insurance where I have everything else. 

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10 minutes ago, dwc032 said:

State Farm is who we go through. It’s like $390 a year for full coverage on our 2020 23 MXZ. I looked into actual boat insurance companies and it was more. It was easier to just put it on my insurance where I have everything else. 

That is really cheap for state farm.  When I used to have my 2012 VTX on my state farm policy it was around $450 - 60K of agreed value coverage 100/300 liability and a 5 month layup

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Just now, oldjeep said:

That is really cheap for state farm.  When I used to have my 2012 VTX on my state farm policy it was around $450 - 60K of agreed value coverage 100/300 liability and a 5 month layup

I could be off by a little. Wife usually takes care of that stuff...lol. We do have everything we own through them so maybe that makes the cost a little cheaper. 

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1 minute ago, dwc032 said:

I could be off by a little. Wife usually takes care of that stuff...lol. We do have everything we own through them so maybe that makes the cost a little cheaper. 

At the time I was insuring my house, 5 cars and the boat ;) through them ;)

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Skisafe is a good option for stand alone insurance but expensive.  The best deal I found is bundling it with my cars, and home through Farm Bureau. Its $425 for full coverage and replacement value without a winter layup 

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22 hours ago, oldjeep said:

That is really cheap for state farm.  

Agreed.  I have them for everything including my 19 23 LSV.  They are far from the cheapest.  

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I see you have 1999 boat, so I'll give you some things that I was dealing with when looking for insurance for a boat older than 20 years.

I had Skisafe for years, but they would not give an agreed value policy on any boat over 20 years old, so I had to look for another company.

I then had BoatUS, but they wouldn't give an agreed value policy anywhere near close to the value of my boat, so I had to keep shopping.  (I needed to increase the agreed value by a lot this summer as the boat prices were increasing)

I finally went with progressive and paid ~$100 more per year than the other two options, but I have an agreed value policy that covers my boat, and they had unlimited on the water towing built into the policy (similar to Boat US).

All of these option were better and less expensive than trying to get it through my homeowners/auto insurance company and it ties into my existing umbrella.

 

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On 11/24/2020 at 9:16 AM, cla10beck said:

I see you have 1999 boat, so I'll give you some things that I was dealing with when looking for insurance for a boat older than 20 years.

I had Skisafe for years, but they would not give an agreed value policy on any boat over 20 years old, so I had to look for another company.

I then had BoatUS, but they wouldn't give an agreed value policy anywhere near close to the value of my boat, so I had to keep shopping.  (I needed to increase the agreed value by a lot this summer as the boat prices were increasing)

I finally went with progressive and paid ~$100 more per year than the other two options, but I have an agreed value policy that covers my boat, and they had unlimited on the water towing built into the policy (similar to Boat US).

All of these option were better and less expensive than trying to get it through my homeowners/auto insurance company and it ties into my existing umbrella.

 

you also get a miles limited tow on land for trailer included,  your agreed value modifies after 5 years if you keep it where they have to get you in to the equivalent boat for value but as described by agents the agreed value amount  still has some positive effect.  i chose after my 5 new model years ended dec 31, 2019 for my new 14 bought new 4/2014 to keep the policy and not lower my insured value as savings were not great enough

i also believe you have a disappearing deductible $200/yr so  after 5 years no deductible (actually maybe its $500 100/yr). i pay $72/mo inc billing fee but no deductible after my 5 years now.  i think i started at $63/yr years ago

Edited by granddaddy55
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