boat insurance

[fishnhuntnboy]

I am currently shopping for boat insurance. I just picked up my new boat yesterday and not sure what type of insurance or who to go through. My boat is a 2016 Ranger vs1780 with a 135 e-tec on it. I did call my state farm agent and they quoted me 324 for the year with a Actual cash value. I also got a quote from progressive for 726 a year with a replacement cost value. Both have personal property coverage and what not. It's just hard to believe one is double the cost over the other.

So question is what do I look for and is one going to be better than the other. What things should I find out and maybe other companies to look at. 

I did look up previous post but the earliest u could find was 2012/13 and not sure if there have been any big changes or not.

 

Thanks 

Darrin

[Pat K]

I've used Worldwide Marine Ins for several years. They are an independent agent and shop several ins. companies for you. I have better coverage at a lower price than I could find on my own. They spend some time talking to you and explain what coverage they feel you need for your type of boating.  Just add .com and get rid of the spaces in worldwide marine ins to go to there web page.

[ANYFISH2]

Was going to suggest progressive.  However, your quote is substantially more than I pay.  Both quotes are for that matter.  I have state farm for all of my auto, they looked at me and said to keep what I have, they couldn't get close.

Keep shopping, and consider adding riders to your home and auto insurance to cover your boat in tow or in storage.  

[fishnhuntnboy]

That's what I thought too. The insurance seemed pretty high. I have everything through state farm and thought that I would get a better deal. 

What do you mean ad riders to my home and auto insurance? I do have my fiance on all the things we own too if that's what you mean?

[Pat K]

 

(What do you mean ad riders to my home and auto insurance? I do have my fiance on all the things we own too if that's what you mean?)

Boat insurance can get weird and complicated. When the boat is in storage some things may be covered by you homeowners ins instead of your boat ins. Your rods reels and other equipment may be partially covered by the personal property section of your home owners policy.  The same when you are towing it and it is damaged, some things may switch to your auto ins.

A rider is an addition to your insurance policy that you pay a little extra for that spells out specifically what is covered and for how much.

 

Edited August 15, 2015 by Pat K

[Pat K]

A simpler explanation of a rider would be if your standard home owners policy covered up to $3500. dollars in jewelry and your fiance had a ring worth $4500.  You could add coverage, called a rider, for the ring specifically for a small addition to your premium.

You can do the same thing for holes in the coverage for your boat.

[fishnhuntnboy]

Thanks for the explanation. I will have to look at that also. Hoping that I can get insurance soon as I don't want to take the boat out without it.

[ozzie]

you should have insurance right when you pick the boat up as if something physically happens to it you won't have coverage for example your garage burns down with boat in it or someone steals it or a tire popped on your way home and you loose control and something happens to the boat.  You have big investment and the premiums you were quoted seem fair for the most part when you say one policy is actual cash value and the other is replacement cost.  The policies are for the most part based off value of the boat and motor.  your accessories such as graphs and electric motors are usually covered on endorsements.  Your tackle and rods can also be added to the policy and that is where you should cover them.  Actual cash value is a perfectly fine policy for most situations but in your case I would look into what the actual cash policy would pay out if you totaled it in the next year or so.  Boats normally don't lose a lot of value off the dealers lot but they do lose some.  You really don't want to have to use your homeowners policy to cover your fishing equipment as if you have to make a claim the deductible is usually higher and the ramifications are usually greater.  You want to avoid making claims on your homeowners policy and a small claim on fishing equipment could have been better covered on the boat policy.  Good Luck 

 

[fishnhuntnboy]

I decided to go with Bob Lullen over at world wide marine. I tell you what he knows what he is doing and is very straight forward and passionate about what he does and makes sure that you are 100% cover for anything on you boat and trailer. Especially after doing research on other companies I can tell you that he will cover absolutely everything to where other insurances wont and at a very affordable rate!