Boat insurance tip

So I had Boaters Insurance agency on the 06 vlx and called them up for a quote on the 09' 23 LSV today. After I got that quote I called up American Family Insurance on a tip from a buddy. American Family Insurance was $200 a year cheaper than BIA. Both policies were the same because I asked for a quote based on my current coverages (besides the increased amount of agreed value replacement cost).

Just thought I'd pass it along.

Someone said BoatUS was pretty cheap as well.

I tried boatus though, and for some reason they gave me a quote from Progressive.

Be sure to check a couple of things when you get a good rate.

I got a great rate from Progressive on my Personal Watercraft. Found a clause in there which didn't allow others to drive them automatically. I called they said unless I faxed a copy of a driver's license and social security card to Progressive and then they would "get back to me" if the person could drive my PWC with my permission. I guess they felt if I was at the beach and a friend wanted to use my PWC I would have a fax machine handy.

Apparently the insurance term "permissive use" which allows others to use your boat pwc ect. meant something different to Progressive.

Something to check out before you have a problem.

While on the subject... Had a recent dealing with a 23,000 dollar claim on tree fall that hit boat and trailer.

Don't assume anything on the value of your trailer just because most Inboard Manufacturers include the trailer in the price. When it comes to insurance they will go by what ever value you put on the quote when you finalize your policy. Maybe a little naive on my part but even though this is my second inboard, I didn't think 2500 dollars for the trailer value was all that far off. Wrong answer, try 7500 for full replacement cost. Just something else that someone else doesn't need to learn the hard way.

Jason, you are getting robbed. Shop around a little bit, you can get a pimpin' trailer from Boatmate for less than $5k.

I ended up replacing the whole frame and changing over components from the old trailer. Kind of a PITA but for 1750 for the painted frame and a 250 in labor to switch the tongue components, axles, suspension and lights, I was able to get it done for the 2000 in my insurance coverage. Had the entire trailer actually been totalled, I would have been researching buying directly from Boatmate. My only point was that as an owner of my 4th boat, I was oblivious to the drastic changes in trailer costs. Even directly from boatmate 5,000 is still a sizeable ammount of money, I think.

My last boat was insured with state farm and they did a great job with everything after my accident. And there rates were the best out there.

Try Global Marine

Remember also that when you get an insurance rate quote there will be a hit to your "FICO" score for each inquiry. The reason this is important is that you may be also trying to get a boat loan too.

I too insure my trailer for $7500. Going rate these days.

State Farm called a boat dealer to ask how much replacement cost is of my 'ski boat' since they didn't believe $62k for any ski boat out there. Dealer said $70k

State Farm is expensive but I know where my agent lives and he fights for me when my stuff breaks and cuts a check on the spot. $600/yr if asking for 500k all around on $500 deductible.
My previous coverage was $480/yr, but it was like pulling teeth when my car got hit.

We have progressive.
The way progressive writes their policies the value of the trailer is included in the full underwriting amount as long as the trailer is listed on the policy. Just make sure the full amount includes your boat,motor,trailer, and any permanently attached stuff (stereos etc.)
Progressive also covers you for PWCs on your policy for NON-household member occasional users over 18 years old. Household members over 18 need to be on the policy to be covered.

(Message edited by mars on April 24, 2009)