Insurance required in California?

[Josh7711]

Hi and thank you for any clarification.

In California, do I need full coverage year-round since I still owe money on the boat? does the bank require "full" coverage "year-round."

My insurance just went up a lot and was hoping I could reduce to straight liability when it's just sitting in driveway during off-season.

Thank you!

[Pnwrider]

Regardless of state, banks will require full coverage if they’re a lien holder and if your boat is stored “in your driveway” then you’d be crazy not to keep year round coverage from theft. Who’s your insurance company? Maybe shop around and see if you can find a better policy?

[Josh7711]

6 minutes ago, Pnwrider said:

Regardless of state, banks will require full coverage if they’re a lien holder and if your boat is stored “in your driveway” then you’d be crazy not to keep year round coverage from theft. Who’s your insurance company? Maybe shop around and see if you can find a better policy?

Thanks, I have Geico but i'll shop around. It just went up from $550 to $850 so that's what got me researching here.

[John I.]

I switched from Boat US/Geico to SkiSafe. 

Link to my thread-

https://www.themalibucrew.com/index.php?/forums/topic/82662-boat-insurance-big-premium-increase/#comment-1223236

[UWSkier]

40 minutes ago, John I. said:

I switched from Boat US/Geico to SkiSafe. 

Link to my thread-

https://www.themalibucrew.com/index.php?/forums/topic/82662-boat-insurance-big-premium-increase/#comment-1223236

Crazy. I just went in the other direction about 18 months ago.  Ski-safe jacked my premiums to the moon, and BoatUS was cheaper for the same coverage here in AZ.

[Josh7711]

51 minutes ago, John I. said:

I switched from Boat US/Geico to SkiSafe. 

Link to my thread-

https://www.themalibucrew.com/index.php?/forums/topic/82662-boat-insurance-big-premium-increase/#comment-1223236

Thank you!

[redrooster]

A friend who is with farmers told me rates will continue to climb as we are almost the 50/50 threshold of people having insurance and not having insurance.   Essentially the people paying for insurance are paying for those who do not.  

[hunter77ah]

33 minutes ago, redrooster said:

A friend who is with farmers told me rates will continue to climb as we are almost the 50/50 threshold of people having insurance and not having insurance.   Essentially the people paying for insurance are paying for those who do not.  

Lol. That can be said for figuratively everything. 

[Sparky450]

On 6/29/2023 at 7:34 AM, Josh7711 said:

Hi and thank you for any clarification.

In California, do I need full coverage year-round since I still owe money on the boat? does the bank require "full" coverage "year-round."

My insurance just went up a lot and was hoping I could reduce to straight liability when it's just sitting in driveway during off-season.

Thank you!

All rates are going up in California. I have heard Geico is out,  or getting out of Cali. I have heard Kia and Hyundai are getting difficult to insure. This could be bad info.  I usually take the payment option on boat insurance just because I hate cutting a check all at once for insurance. This year my boat and houseboat policy said.” Pay in full now or we will not renew”😡😡 This is a fact!!  So we cut the checks. Might as well get used to it. 
And the new one out here in California. Our politicians have passed a law that it is a FELONY to even say something to a person that is stealing. From what I heard, but I could be wrong. The only time you can say something is if it is your own property. So what good do security guards do anymore?  

I just went back and saw that you are with Geico. 
About a year ago I had an employee with a bad driving record. The only way I could insure him was to get a special policy on one truck just for him. FROM GEICO.   45 days b later they cancelled the policy!!  
Needless to say, he is no longer employed by me.🙃🙃

Edited June 30, 2023 by Sparky450

[Josh7711]

11 minutes ago, Sparky450 said:

All rates are going up in California. I have heard Geico is out,  or getting out of Cali. I have heard Kia and Hyundai are getting difficult to insure. This could be bad info.  I usually take the payment option on boat insurance just because I hate cutting a check all at once for insurance. This year my boat and houseboat policy said.” Pay in full now or we will not renew”😡😡 This is a fact!!  So we cut the checks. Might as well get used to it. 
And the new one out here in California. Our politicians have passed a law that it is a FELONY to even say something to a person that is stealing. From what I heard, but I could be wrong. The only time you can say something is if it is your own property. So what good do security guards do anymore?  

I just went back and saw that you are with Geico. 
About a year ago I had an employee with a bad driving record. The only way I could insure him was to get a special policy on one truck just for him. FROM GEICO.   45 days b later they cancelled the policy!!  
Needless to say, he is no longer employed by me.🙃🙃

wow thanks for the info, i appreciate the insight. 

[Rack]

Allstate is no longer accepting new home owners insurance in California. ( Off Topic )

My Boat has been with Allstate for 31 years. the rates are good,  Granted its an older boat, but I havent had a claim either.

Now the boats are exceeding  24' and 200K with a crew of 10-15 people, What could go wrong??

"Better Call Saul"  LOL

 

 

 

 

Edited July 1, 2023 by Rack

[Sparky450]

2 hours ago, Rack said:

Allstate is no longer accepting new home owners insurance in California. ( Off Topic )

My Boat has been with Allstate for 31 years. the rates are good,  Granted its an older boat, but I havent had a claim either.

Now the boats are exceeding  24' and 200K with a crew of 10-15 people what could go wrong??

 

 

 

 

It’s all about claims. We are in a state that everyone will blame responsibility on others. And the attorneys are not ethical. It is all about money to the attorneys in this state. NO MORALS. 
And my wife and I have said , for the entire 36 or 37 years, total lack of respect for others.