boat insurance

[BartmanMN]

I picked up my first boat this year. It appears my home owner insurance company no longer services boat insurance so they partner with Progressive.

Is anyone using Progressive for their boat insurance? What's the good and bad? Should I look elsewhere?

Basic insurance with $500 deductible and $1000 fishing equipment covered is $153 if paid in full.

$169 if I add an additional $1000 personal Property.

$194 if I reduce my deductible to $250 rather than $500.

Each year I don't file a claim they reduce the deductible by 25%.

Boat is a 2004 Crestliner Sportfish 1850.

Thanks

[muddpuppy]

I have used them for 5 years, They are the best boat insurer out there. I have had several companies tell me that when looking to put everything under one company. I had one claim the second year I had my boat and they made it easy.

[BartmanMN]

Thanks.

[Random guy]

I totaled a boat in 2002, Progressive had me a check in hand the next day and I was back on the water with a new boat in four days.

[Random guy]

By the way the money is not in the boat, its in the gear. Get the additional gear coverege. My gear loss was higher then the boat value.

[pulleye16]

If buying new, get the "replacement cost." I think it is a few extra dollars and it's only good for 3 years (?) but then atleast you'll get a brand new boat, not what its valued at. Progressive has this, I've been with them for atleast 5 years now (Can't say anything bad or good cause I've never made a claim).

[BartmanMN]

If I got a good deal on the boat, motor, and trailer should I insure it for what I paid or what it would cost me to find a similar boat, motor, and trailer?

[FM_Mike]

Have had Progressive for over 8 years and never had a claim. Just got a new policy for my new rig from them last week. Got the replacement coverage and as others have said, make sure you get enough coverage on your equipment. Buy the extra insurance for your equipment, to many people want what you have worked hard to get.

Mike

[401TE]

I either did something wrong when I set up insurance for my boat with Progressive, had way too much coverage, am a higher risk insured, or you all aren't covered adequately because when I was with Progressive I was paying like $700/year. No joke. I bought a house last fall and am now paying $130/year for the same coverage through a different company. I realize there is a multiple policy discount, but $570/year?!?

Jonny P is right, make sure your gear is covered as well as your boat and make sure it is replacement cost so you don't get hit with depreciation.

Also, you can do an "agreed upon value" for the boat so if it is totaled you get that price and don't have to worry about depreciation with that, too.

[muddpuppy]

I either did something wrong when I set up insurance for my boat with Progressive, had way too much coverage, am a higher risk insured, or you all aren't covered adequately because when I was with Progressive I was paying like $700/year. No joke. I bought a house last fall and am now paying $130/year for the same coverage through a different company. I realize there is a multiple policy discount, but $570/year?!?

Jonny P is right, make sure your gear is covered as well as your boat and make sure it is replacement cost so you don't get hit with depreciation.

Also, you can do an "agreed upon value" for the boat so if it is totaled you get that price and don't have to worry about depreciation with that, too.

I would say Just bad luck.... My boat it a 89, motor is a 07. I have a Agreed apon value of 8900 for the boat, motor, and trailer. 2500 for electronics and 2500 for gear. I pay about 150 per year. I sent in Pictures and they sent out a guy to look everything over.

[FM_Mike]

I either did something wrong when I set up insurance for my boat with Progressive, had way too much coverage, am a higher risk insured, or you all aren't covered adequately because when I was with Progressive I was paying like $700/year. No joke. I bought a house last fall and am now paying $130/year for the same coverage through a different company. I realize there is a multiple policy discount, but $570/year?!?

Thats crazy, 2011 Raptor 2011 115 4 stroke and 2011 9.9 4 stroke new shorelander trailer, replacement coverage, 5k equipment, 3k electronics. All for 240.00 a year. 250 deductable.

Something was not right there.

Mike

[GotALunker]

It depends too on what type of boat you have. For instance, I have a simple 16' Lund w/ a 25HP motor. It is actually covered (they only provide liability) under my homeowners insurance policy. Originally, they (Ameririse Auto Home) told me to go to progressive but after calling back I found out that my homeowners ins covers liability only. I figure that's all I really need for my boat.

[ozzie]

ya but lunker you could get a policy to cover your boat with a little to no deductible for a very low yearly price ( I pay $30 for $2100 stated value on boat and motor + liability) just in case someone steals it or you take out your lower unit........