Insurance?

[solidhadriel]

I am sure they do. I'm 26 with no accidents in the past 5 years. So perhaps age and boating experience also plays a role in the costs. Also, I bet geographical locations make a difference as well. California here.

[BoatCop]

Progressive: $146.04 per year. ($14.17 / month)

Agreed value, full protection, towing/salvage to 75 miles off shore, fuel spill/pollution coverage. The works.

If you haven't yet done so, go take a Boating Safety Course. Most companies offer discounts up to 25% off for completion by all drivers.

[ROLAND]

for my boat, we use Progressive... full coverage.. $127.00 a year.

[Mel85CJ]

Wow!

There are some cheap rates on here!

I contacted Norman-spencer - they are a broker/agent - they quoted me for "aqua-pac" insurance for $352
That one had a lot of coverage $12.6k for boat, 300k liability, 300k un/underinsured, towing, spill protection, 1k personal effect, 600 for trailer.

I am awaiting to hear back from BoatUs

I'm definitely going to check out progressive and some of the others.

I did take the online boat coarse way back in 1999. Only BoatUs so far has asked me if I took any classes. Most asked how long I have been boating, which has been almost 30 years (I'm 44 and I know my dad let me drive our 19' runabout boat before I even had my drivers license).

Thanks so much everyone!

Melanie

[solidhadriel]

Ah, yes. I believe AquaPac is what I have! Between the 3 insurance quotes I've received so far, I am not sure how anyone is getting cheaper insurance. Assuming they have similar coverages. I know one thing that makes a large difference in premium is the replacement value.

- Market value: Significantly cheaper, the insurance only pays you what your boat is worth at that time. So if in 5 years the boat is totaled, and the boat is only worth 15k vs the 40k you paid for it, you only get 15k. BoatUs quoted me about $120 cheaper for this option.

- Agreed value: You agree for $30k (or whatever amount) coverage. In the event of a loss, insurance pays you that amount if the boat isn't repairable, regardless of age or condition. This is what I have.

[ron nh]

Ah, yes. I believe AquaPac is what I have! Between the 3 insurance quotes I've received so far, I am not sure how anyone is getting cheaper insurance. Assuming they have similar coverages. I know one thing that makes a large difference in premium is the replacement value.

- Market value: Significantly cheaper, the insurance only pays you what your boat is worth at that time. So if in 5 years the boat is totaled, and the boat is only worth 15k vs the 40k you paid for it, you only get 15k. BoatUs quoted me about $120 cheaper for this option.

- Agreed value: You agree for $30k (or whatever amount) coverage. In the event of a loss, insurance pays you that amount if the boat isn't repairable, regardless of age or condition. This is what I have.

Yes, some companies call it stated value. don't get insurance on a newer boat without it!

[brianD]

Make sure whomever you us, you get the "waiver of depreciation". Cost me an add'l $50 per year, but saved me $5000 when I hit a dike on the Mississippi two years ago. I use Boat US and after the way they handled that $15k claim and another "break in" claim the next year, I won't change. They were AWESOME when I needed them.

[SamiGuy]

Progressive here too. I have my 'toon, PWC, and Harley with them. Use Erie for house and cars. The Progressive was less than half of Erie and more coverage, ie; towing, etc. Just my $.02, but worth going on-line for a quote. Then found out my current agent of 40+ years was also a Progressive Agent. I did give them a bit of a rough time for not looking over my policies often enough and finding me better coverage/value. Gently rattling a cage now and then can be of benefit to both you and your agent !!!
Sami

[zoom650]

Allstate quoted me this. $204. I was doing a full insurance quote, multiple policies, but they might be worth checking with. Allstate insured my fishing boat.

[Strake]

We have Progressive Ins with a declared value policy for 2015 Berkshire with 200 Yamaha valued at $49k. As we have been claim free with them for 5 years, we are enjoying $0 deductible and our 12 month policy is $167. It includes $500 electronics, and other perks. $300k Liability coverage.

You might want to shop around.......

[ROLAND]

We have Progressive Ins with a declared value policy for 2015 Berkshire with 200 Yamaha valued at $49k. As we have been claim free with them for 5 years, we are enjoying $0 deductible and our 12 month policy is $167. It includes $500 electronics, and other perks. $300k Liability coverage.

You might want to shop around.......

Strake... that's a heck of a good deal on your insurance with a value of 49K on your boat... question for you, if you are involved in an accident and your boat is totaled, will they actually pay you 49K or is it depreciated... the reason I ask is I have progressive as well.. Insured my new boat in 2010 for a little over 25K... when I took out the policy I was told that if my boat were to be involved in an accident and totaled out, they would actually pay me the full 25K.. but just for the first 5 years.. after that the payout is based on depreciation....