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-   -   Boat Insurance (http://www.wakeworld.com/forum/showthread.php?t=769252)

consigliereg8r 01-15-2010 3:33 PM

I live in Fl and just paid my insurance bill for the year. I have an 06 SAN 220 with 300k liability insurance--the rate with State Farm was almost $900.00 for a year. Anyone know of better deals? <BR> <BR>Thanks

ixfe 01-15-2010 4:35 PM

I have State Farm, and I only pay about 1/2 that.

sailing216 01-15-2010 5:32 PM

My state farm is $600 for $500k on my 06' Cent Avy. My previous insurance (Grange which is local I think) was $500 for the same coverage. <BR> <BR>I'd shop around as for that coverage it should be under $500 bucks a year. <BR> <BR>I trailer and keep in a locked storage place. If you leave in the water and chance of hurricane then maybe that's the difference, don't know as I'm in landlocked mid-West.

h20king 01-15-2010 5:37 PM

progresive insurance on my 08 centurion falcon is only 390.00 a year

boarditup 01-15-2010 5:37 PM

Global Marine Insurance. They specialize in our kind of boats and are they only coverage effective if your boat is used in a sanctioned tournament. Everyone else has a boatload of exclusions leaving you exposed.

blastmaster 01-15-2010 6:08 PM

Insurance in Florida is more expensive due to climate being fair,longer seasons and hurricanes which destroy boats. Rates vary by region, carriers, policy type=being stated value, actual cash value or full replacement cost. Deductibles affect rates as well as driving record of primary operator. <BR> <BR>I see in your profile you are an atty. It surprises me you would accept what I consider a low limit of liability @ $300K? Expecially since Fl is a no fault state? I would bet the uninsured underinsured boater coverage mirrors the liability limit. <BR> <BR>Be careful on policies that are auto form following with split limits. Seek a Protection &amp; Indemnity single limt policy. Be careful warranting lay up periods, seek wreckage removal and pollution along with high medical limits.

brett564 01-15-2010 8:03 PM

Boat US. My 08 Malibu LSV is insured for $340. Everyone else quoted me $700 to $900.

consigliereg8r 01-15-2010 8:23 PM

What liability does limits does everyone else carry? I thought I had the max offered by State Farm. <BR> <BR>Florida is not a no-fault state for boating liability. You still have to show fault to obtain a recovery-that being said, Rick is correct on seeking higher limits. <BR> <BR>I had client who was pulling several tubers with his Moomba Outback. He didn't see a teenager who was far from shore on his port side. He hit the kid and the child's foot was severed. If not for his actions after the accident, the child would had died. The visibility on the boat on the port side was/is terrible. There really is a blindside especially on a ski type boat that rides low and where the drivers seat is so low. <BR> <BR>I have never had a claim (knock on fiberglass) either with my boat or my car. We also live in the Panhandle away from the coast so I don't know if hurricanes are a factor. The boat is trailered and not in the water. <BR> <BR>I am going to try some other companies and see if I can get some higher limits at a better price.

05elitevc4 01-15-2010 9:29 PM

Seahorse Underwriters, The Saint Paul. $340 per year. Agreed value of $35K. 2005 Centurion Elite V C4 in Fresno CA.

silvermustang35 01-15-2010 10:21 PM

Switching from State Farm to Boat US...Boat US for the upcoming Axis will be $525 per year, agreed value of $50K. Medical payments of 5K if the person doesnt have med-insurance. $50 trailer deductible and $500 trailer deduct. My I/O with statefarm was agreed value of $23K, $500 trailer deduct, $500 boat deduct. and it was $350 year...was not impressed what Statefarm could do for the Axis...

mhunter 01-16-2010 6:25 AM

Boat US they only do boats and are very good when things go wrong.

dudeman 01-16-2010 6:33 AM

$360 a year at Progressive for an '06 Supra 21v. It was only $276 until I hit some hidden objects and had 5k in damage. I came from State Farm where we had everything insured, boat, 4 vehicles and house. Had been there 10 years and they still charged me about $950 a year for boat insurance without a claim.

justsan 01-16-2010 9:06 AM

X 2 for Seahorse Underwriters...same coverage same payment as mentioned. <BR>Went through eboatloans.com and they brokered it to Seahorse and I couldn't be happier. I even am covered into Mexico 190 miles -was pretty impressed that was included in my policy.

cwfletch 01-16-2010 2:13 PM

+1 for Global Marine Insurance, I have used them from the beginning. Declared Value on boat &amp; trailer, 500.00 deduct, 57.00 a month on a 2006 SANTE 220.

consigliereg8r 01-16-2010 2:32 PM

you guys with Sea horse and global, what are your liability limits

you_da_man 01-16-2010 3:22 PM

Boat US for me as well. $450 per year on declared value and trailer on 2008 Moomba XLV and Boatmate tandem axel trailer <BR> <BR>(Message edited by you_da_man on January 16, 2010)

consigliereg8r 01-16-2010 4:05 PM


cwfletch 01-16-2010 4:48 PM

Global Marine has my insurance through Travelers, here are the rates: <BR> <BR>Boat &amp; Aux Equip: 44,000.00 - 440 ded <BR> <BR>Trailer: 3,000.00 - 100 ded <BR> <BR>Personal Property: 2,000.00 - 250 ded <BR> <BR>Commercial Towing: 500.00 - 0 ded <BR> <BR>Watercraft Liability: 300,000.00 - 0 ded <BR> <BR>I should probably bump the trailer to 5k. Hope this helps.

dirwoody 01-16-2010 4:55 PM

What you need to do is get the liability limits between your homeowners and boatowners to a level where you can get an umbrella policy. You can get a 1M policy for a decent price. <BR> <BR>this is an option to look at, I don't know the prices for sure, I just handle the claims!

ajholt7 01-17-2010 8:30 AM

Boat US was the best deal for me. I have told other people about it and it seems there are many variables. Such as location, age, and type of boat. They are at least worth looking into. By the way, I had to make a claim with them after 2 months of being with them. They handled it excellent.

blastmaster 01-17-2010 12:54 PM

Quick FYI: <BR> There are 2 carrier I know of and probably others depending on state that offer Underinsured/Uninsured motorist coverage as an option on umbrella policies. I like the US Liability(Berkshire Hathaway) and Navigators umbrellas. They cost a bit more, but IMO worth the extra. <BR>If you meet underlying limit on your boat/auto home etc and someone in your boat,car etc.. is permamnantly disabled or disfigured you look to your own policy for big limits. Additional cost is aboput $100-$150 a year.

mcfatty 01-18-2010 11:19 AM

Fletch the personal property coverage isn't necessary because if you have any items stolen of enough value to file a claim you can go through your homeowners. On a boat policy personal property premium is high for what it is.

ottog1979 01-18-2010 11:33 AM

Boat US.

cwfletch 01-18-2010 12:27 PM

mcfatty - thanks I never thought about that, I will call to get it removed and bump my trailer to 5k as well.

consigliereg8r 01-18-2010 12:33 PM

Here is the quote I got online from Boat US. When my policy expires, I am changing. <BR>Application#: Name: HARRY M FUQUA <BR>Quote Date: 1/18/2010 Quote Valid Until: 4/18/2010 <BR>Boat Year: 2006 Boat Length: 22 <BR>Builder: CORRECT CRAFT Hull ID: <BR>Document #: Registration #: <BR> <BR>Coverage Description <BR> Coverage $ Deductible $ <BR>Boat and Boating Equipment (Agreed Hull Value) 40,000 400 <BR>Storm Deductible 2,000 <BR> <BR>Boating Liability (Protection and Indemnity) <BR>Property Damage/Bodily Injury <BR> 500,000 <BR> <BR>Fuel and Other Spill Liability <BR> 800,000 <BR> <BR>Medical Payments -- Limit Each Accident <BR> 1,000 <BR> <BR>Boat Trailer <BR> 2,000 50 <BR>Personal Effects <BR> <BR>Uninsured Boaters Protection -- Limit Each Accident <BR> 500,000 <BR> <BR>Commercial Towing Assistance - Each Incident/Annual Limit <BR> 250/500 <BR>Total Premium <BR> <BR>713.00 <BR> <BR>Credit No Loss 71.00 <BR> <BR>State Surcharge <BR> 6.00 <BR>Net Annual Premium 638

wakesurfer08 01-18-2010 5:36 PM

On our boat, 2001 MasterCraft X-Star w/MC Trailer <BR> <BR>Farm Bureau Ins. As Listed for the Boat, <BR> <BR>Bodily Injury Liability 250,000 each person <BR> 500,000 each occurrence <BR>Property Damage Liability 100,000 each occurrence <BR>Watercraft Med. Payments 2,000 ea.person No Ded. <BR>Physical Damage 30,000 agreed amount 500 Ded. <BR> <BR>Cost on Boat $300.61 per year <BR> <BR>As Listed for MC Trailer, <BR> <BR>Collision 4,000.00 agreed amount 500 Ded <BR>Comprehensive 4,000.00 agreed amount 500 Ded <BR> <BR>Cost $34.41 per year <BR> <BR>Total Boat and Trailer $335.02 per year I don't think this is bad at all for our Insurance. We also just added a 1 Million Umbrella also for $278.00 per year.

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