Best Insurance Coverage / Payout & ease of claim?

[Gene3x]

So I am about to take ownership of a new 25LSV and have been overall happy with Skisafe but have not filed a claim with them.  What is everyone's opinion or experience actually collecting on a claim.  I had a nightmare collecting from Geico and Usually go with USAA for cars but curious what others experience has been?

Is Skisafe, Allstate, BoatUS, State Farm, Travelers, etc....  best to deal with and close a claim fairly?  I don't mind paying just a little bit more for excellent coverage that will save me headache in the long run.

[ahopkins22LSV]

I filed a claim with them two years ago after having our windshield shatter on a road trip. Tore up 2 seats, damaged the glove box, the walkway panels and obviously the windshield so not a cheap. The submission was easy and straight forward, and the payout was super quick, within a few days. This year our rate barely went up. I have nothing but good things to say about them.

[94MalibuEchelon]

I’m the original owner of a 1994 Malibu Echelon and I have made four (4) insurance claims in the 26 years I’ve owned the boat.  I’m with Travelers.
 

The four insurance claims were all the same type of damage tearing up underwater gear (strut, shaft, prop, tracking fins) by running over submerged logs on the California Delta or hitting submerged rocks on Lake Powell.   Cost of repairs on these 4 incidents ranged from $2000 - $4500 per each incident. 
 

I have an insurance agent who works with Travelers and is the “go between” when something goes wrong. I probably pay an extra $100 a year more by having a dedicated agent.   I’ve priced out other carriers and talked to neighbors and friends with boats.   I know I’m paying $100 more a year. But the service and timely repairs have been phenomenal. 
 

Lastly, my boat insurance has run around $300 to $400 in the 26 years I’ve owned the boat. I’ve received just as much in paid out claims as I have paid in claims. 

Edited November 22, 2021 by 94MalibuEchelon
Clarifying

[Gene3x]

18 hours ago, ahopkinsVTX said:

I filed a claim with them two years ago after having our windshield shatter on a road trip. Tore up 2 seats, damaged the glove box, the walkway panels and obviously the windshield so not a cheap. The submission was easy and straight forward, and the payout was super quick, within a few days. This year our rate barely went up. I have nothing but good things to say about them.

You are referring to Skisafe?

[ahopkins22LSV]

16 minutes ago, Gene3x said:

You are referring to Skisafe?

Yes, sorry. Should have clarified. 

[Txstoj]

Another +1 for skisafe.  I had a 2017 T23 that was destroyed in a storage fire in 2018 and they were pretty easy to deal with.  They worked with a dealer to produce out a replacement boat and sent us a check since it was destroyed within 4 years of new.

[Slayer]

I have a friend who uses skisafe, as do I, and he was hit on the 4th of July by a jetski traveling about 50 MPH.  It did significant damage to his 2020 Tige 23ZX.  Skisafe has been very good with him on the claim.  Fortunately, I've not had an issue that requires a claim, so I can't offer first hand experience.  I did however have a claim with State Farm a number of years ago on a boat hoist that was damaged in a storm.  The claim process wasn't the best, but I got what I needed to get out of it. 

 

 

[dalt1]

4 hours ago, Slayer said:

I have a friend who uses skisafe, as do I, and he was hit on the 4th of July by a jetski traveling about 50 MPH.  It did significant damage to his 2020 Tige 23ZX.  Skisafe has been very good with him on the claim.  Fortunately, I've not had an issue that requires a claim, so I can't offer first hand experience.  I did however have a claim with State Farm a number of years ago on a boat hoist that was damaged in a storm.  The claim process wasn't the best, but I got what I needed to get out of it. 

 

 

Jetski uninsured?

 

[Slayer]

16 hours ago, dalt1 said:

Jetski uninsured?

 

Correct.  And he caused $40k in damage to the Tige.

 

 

Edited November 24, 2021 by Slayer

[familyfun]

Have State Farm.  Had a total loss of a 12 year old 23LSV.  They wrote us a check for the full purchase amount (the total value on the insurance policy).  No issues and relatively painless as I remember.

[dlb]

I use State Farm for all my needs.  They have been prompt and generous in paying claims for home and auto issues.  They have covered my boats for 20+ years and I have not had to file with them for boat issues.  I highly recommend them.

[CharlieBeaU]

On 11/24/2021 at 4:15 PM, dlb said:

I use State Farm for all my needs.  They have been prompt and generous in paying claims for home and auto issues.  They have covered my boats for 20+ years and I have not had to file with them for boat issues.  I highly recommend them.

Re-lighting an older thread...

I am trading in my 2017 23 LSV for a 21 25 LSV. I have had nothing but a great experience with State Farm but I just got my new premium today and it's over double my previous premium for my 23 LSV. Size of the boat and size of the engine (M6Di) were the primary reasons for the increase according to my agent (approx $750 per year to over $1500 per year).

I have everything insured through State Farm and have always been extremely happy with their service and with the speed and thoroughness of their reimbursements in the few times I've needed them (1 was a total loss of my 2010 23 LSV in a marina fire).

However, I think this new rate means I need to go shopping. Skisafe seems to have a very good reputation. I'll talk to Travelers based on above experience. I'm not a Veteran so USAA is out for me. Any other recommendations on carriers I should call?

[granddaddy55]

11 hours ago, CharlieBeaU said:

Re-lighting an older thread...

I am trading in my 2017 23 LSV for a 21 25 LSV. I have had nothing but a great experience with State Farm but I just got my new premium today and it's over double my previous premium for my 23 LSV. Size of the boat and size of the engine (M6Di) were the primary reasons for the increase according to my agent (approx $750 per year to over $1500 per year).

I have everything insured through State Farm and have always been extremely happy with their service and with the speed and thoroughness of their reimbursements in the few times I've needed them (1 was a total loss of my 2010 23 LSV in a marina fire).

However, I think this new rate means I need to go shopping. Skisafe seems to have a very good reputation. I'll talk to Travelers based on above experience. I'm not a Veteran so USAA is out for me. Any other recommendations on carriers I should call?

ski safe is great except for coastal areas they will not touch!!

https://m.oldkentuckyinsurance.com

Emerson Poort is a ski safe snd progressive agent  

Edited February 3, 2022 by granddaddy55

[PNWoke]

State Farm for the win.  Lost my 2014 in a Marina fire.  Had check for full insurance policy within 30 days, most of that time was waiting on shop/mechanic to price out replacement costs.  State Farm even realized that since the boat had appreciated, replacement cost was about $15k more than my policy was written for.  They opted to let me keep ownership and possession of the damaged boat, which I was able to sell and recoup the difference I needed to get new boat during peak summer.  Nice thing abt State Farm is that they offer umbrella policies to cover for situations like mine where something appreciates unexpectedly.

[burider]

Any issues getting these carriers to provide a waiver of subrogation? A lot of marinas are requiring that in the slip contract. 

[wedge88]

On 2/2/2022 at 10:05 PM, CharlieBeaU said:

Re-lighting an older thread...

I am trading in my 2017 23 LSV for a 21 25 LSV. I have had nothing but a great experience with State Farm but I just got my new premium today and it's over double my previous premium for my 23 LSV. Size of the boat and size of the engine (M6Di) were the primary reasons for the increase according to my agent (approx $750 per year to over $1500 per year).

I have everything insured through State Farm and have always been extremely happy with their service and with the speed and thoroughness of their reimbursements in the few times I've needed them (1 was a total loss of my 2010 23 LSV in a marina fire).

However, I think this new rate means I need to go shopping. Skisafe seems to have a very good reputation. I'll talk to Travelers based on above experience. I'm not a Veteran so USAA is out for me. Any other recommendations on carriers I should call?

Ski Safe makes it so easy with their online quotes.  I too was with State Farm for everything but on our last boat they jumped to over $800.  We just purchased our insurance for our new 2022 Axis T220 and my yearly rate is $472 with 4 month layup.  Our boat doesn't touch the water from 11/1-3/1 so that is a big savings that no one else offered.  

[CharlieBeaU]

2 hours ago, wedge88 said:

Ski Safe makes it so easy with their online quotes.  I too was with State Farm for everything but on our last boat they jumped to over $800.  We just purchased our insurance for our new 2022 Axis T220 and my yearly rate is $472 with 4 month layup.  Our boat doesn't touch the water from 11/1-3/1 so that is a big savings that no one else offered.  

Thank you for this info. I'm going to check them out today. I've also looked at Allstate and SafeCo. Neither one offered meaningful savings over State Farm for the new boat.

[Slayer]

19 hours ago, CharlieBeaU said:

Thank you for this info. I'm going to check them out today. I've also looked at Allstate and SafeCo. Neither one offered meaningful savings over State Farm for the new boat.

One thing that I've learned, particularly on the newer boats, is that the least expensive provider may not necessarily be the provided that's giving you the best value.  I pay more for my 2006 Response LXI and my 2022 25LSV through ski safe than I did with State Farm.  However, I'm getting more for my money than what was available through State Farm.  So while there were cost savings to stay with them, the exposure I had from the savings isn't worth the money in the event of a claim.  

 

[guitarcrazy]

I have had Progressive on last 3 boats and all were very affordable ($400ish per year).  Thankfully no claims.  I haven't called about new boat yet, but expecting an increase with LT4 an 25 foot hull. 

[Sparky450]

2 hours ago, Slayer said:

One thing that I've learned, particularly on the newer boats, is that the least expensive provider may not necessarily be the provided that's giving you the best value.  I pay more for my 2006 Response LXI and my 2022 25LSV through ski safe than I did with State Farm.  However, I'm getting more for my money than what was available through State Farm.  So while there were cost savings to stay with them, the exposure I had from the savings isn't worth the money in the event of a claim.  

 

Our houseboat insurance cancelled us a few years ago. I believe they quit insuring steel pontooned boats. We then shopped and found State Farm to be the cheapest, by a long shot.
BBUUTT!!  
The coverage was not comparable. Although they do insure houseboats, the agent was not familiar with what was needed. We did get the coverages worked out, and are still with State Farm for now  

Bottom line, be sure to compare what is needed. Especially when talking about hazardous waste in the water,  in the event there is a catastrophe and she goes down. 
IE: Hazardous waste, recovery,etc

Syate Farm has not even asked for a survey. In my experience, an insurance company specializing in marine, wants a survey every 5 years  

 

[granddaddy55]

On 3/23/2022 at 10:01 AM, guitarcrazy said:

I have had Progressive on last 3 boats and all were very affordable ($400ish per year).  Thankfully no claims.  I haven't called about new boat yet, but expecting an increase with LT4 an 25 foot hull. 

must not be anywhere near the coast, get to the coast with agreed value and it doubles,  insure enough  value like my new boat with agreed value near coast and its 5 times at over $2000 , ski safe wont touch near coast and geico wouldn't insure $175k

Edited March 24, 2022 by granddaddy55

[dalt1]

SkiSafe here just renewed policy. $349 for agreed value of what I paid new for my 18 LSV + Trailer. Used Boat US for about 20 years till the premiums shot up. Been with SkiSafe for last 7 ish years. No claims so can't help there.

[guitarcrazy]

On 3/24/2022 at 11:05 AM, granddaddy55 said:

must not be anywhere near the coast, get to the coast with agreed value and it doubles,  insure enough  value like my new boat with agreed value near coast and its 5 times at over $2000 , ski safe wont touch near coast and geico wouldn't insure $175k

Montana isn't very close to the coast, unless global warming accelerates. 🙂