Boat Insurance Rates

I need to get some boat insurance. What company or companies are known to have the best boat insurance prices right now.

Thank you,

Ken

I don't know if it is the best, but I went with Progressive. $524 annually with homeowner's discount (boat valued at $31,000 w/ stereo) 2002 Centurion Hurricane.

"Boaters Insurance" is by far the best out there for insurance for boats. www.boatins.com

Boat insurance is pretty cheap. I pay about $600 a year on my 06' X-star. That includes $12K in stereo value. My insurance is also through progressive. Another cool thing about progressive is that they have disappearing deductables. Each year they knock off a $100 on your deductable until it reaches zero.

I'll have to find out who my insurance is through, 07 22SSV and my insurance is $400 a year.

I'll look when I get home, Progressive did it, but its not through them.

Mine is from Progressive as well. '05 Tige 24V for roughly $450.00 per year. (And thats in California !!)

I'm with Global Marine Ins. They are the preferred ins. co. for USA Waterski. Good folks. very competetive!!! All they do is boats.
www.globalmarineinsurance.com

Ditto on Progressive, except we actually book it through USAA who then uses Progressive. I pay $389 a year for an agreed value of $36,000 on my 2004 Supra SSV.

I just go some quotes for my 2008 x2 based on 65k

progressive 575
boat us 559
Markel marine 765
boaters insurance 610
Global mid 700s (I forgot the exact)
ski safe doesn't insure for named storms so they were out.

06 V-RIDE, 270 year. Allstate

American Family $475/year 2004 Centurion Enzo. This is bundled with our home/auto policies.

Is there anyone from Canada that has some ideas on insurance?

Boaters Insurance Agency $453 yr. with agreed replacement value.

$308/yr for agreed value of 35k plus 2k for the trailer. I believe they are called Seahorse Underwriters. Havent had to make a claim so no experience there but the rate is pretty good. I got it through my dealer when I bought the boat. Dont know if that helped at all.

Damn, why is mine so high

I think I might have the winner! Just got my renewal in the mail today for $193/year with Boat U.S. for an 'O4 Centurion Lighting. I have been with them for a few years with no claims and am getting some discounts because of that.

State Farm, $444 per year for an '07 Tige RZ2.

Just got a quote for my 2007 Wakecraft from progressive $858 WTF? $170 more than my current Westmar plan w/ same coverage.

You're paying to much Kevin, unless you've had several claims in the past.

Never had one. Wondering if I'm over insured (if such a thing).

2007 V-Ride with Tandem Trailer.
$300,000 liability coverage.
$500 deductable.
State Farm Insurance

cost: $532 a year.

Insurance prices are regional. Warmer climates have longer season so where some one in Montana is going to have a shorter season than say Alabama. More risk for the Alabama folks who get to use there boat twice as long per year.

Then factors of driving record, age, past claims, value of boat, liability limits.

You can never have enough liability and it's cheaper than you think to go from $100,000 to $500,000.

cosmocat, I see you live in NC if you live close to coastal waters and theres a chance you might navigate those waters they will surcharge for that.

I have Voyager Marine $606 a year for $70,000 on a 03 MasterCraft 197.

That covers Supercharger and stereo.

mcfatty

That's what I did I jumped it to the max and it was only $40 more per year to do that so I figured what the heck.

There is more to insurance then cost. The cheapest rates are not always the best policies. Look for things like Agreed Value V's ACV for newer boats. Repair Cost Depreciation. Emergency Service Limits. Compare the Exclusions.

$310 a year with ski safe on a 05 centurion lightning. Only went up $70 from my old 4cyl I/O

Tigamike & Mcfatty are the only 2 posters who actually made any thoughtful comments on this thread.
Who cares how much you pay if you have crappy
coverage? Mike was the only one who realized the liability limit drives much of the premium.

Only a couple mentioned their deductible amounts which again drives premium paid.

Even fewer mentioned how much medical was on their policy. Pretty cheap & very much needed.

But the biggest surprise is not one of you mentioned uninsured or what would worry me & should worry you is underinsured boater section. Being as most of you only want a cheap premium it makes me want to increase my limits so when you hit me I can look to my own policy for bodily injury for my family and passengers.

I wish you all luck in getting out of the spill clean up if your policy doesnt have enough or any pollution coverage.

Did anybody take a lay up period?
Is hurricane damage EXCLUDED?
Is it protection & indemnity or split limt liability coverage?
Not one of you mentioned an umbrella?
Do your policy have navigation or territorial limits?
Does your carrier use company or independant adjusters? Is that adjuster marine certified?
Do you live in or operate in a "No Fault" state.
Do you understand what a no fault state is and how it affects the coverage you buy?

Please consider more than just the price. We have all been blessed with disposable income that allows us these toys. Protect your family, friends and future by asking the right questions. Using an internet or service center may mean the person on the other end who is trying to sell you something by giving you the cheapest price.

Sorry for the rant.
Please see the link attached or email me if you have a specific question. Ask Dave if you feel the article should run again. I hate to repeat myself but it was intended to help answer these questions and I have answered literally hundreds of questions from around the world since I wrote it for Wakeworld.

Rick

http://www.wakeworld.com/Articles/2004/insurance.asp

I have a 2004 Supra Launch 22 ssv Gravity Games
I pay with nationwide $1,300.00 year. Could someone tell me why it is so high.

Daaaaaaannnngggg dude, you need to switch..

Rick how dare us not disclose our coverages with our posts. Don't assume everyone on here didn't do their homework or talk to an agent. It's up to each person who owns their boat to get the best coverages for themselves. This particular poster asked who had the best rates. That was a good article you wrote, there is some very useful info in there. Please contact me if you're interested in my specific coverages.

on the 70k 03 mastercraft, did the insurance agree on the value of the boat in the case of an accident? I had an accident one time, that wasn't my fault, they only paid about 1500 below retail. I had the boat insured for retail plus extras on the boat.

I second that post nu bu. Good article Rick, but the original post was interested in "best prices". I am sure everyone in here including myself reviewed their policy before signing. But Ken like myself might not have a huge surplus of disposable income due to a boat payment and cost is a large factor in choosing insurance companies.

Here you go Rick:

Did anybody take a lay up period? Not Sure
Is hurricane damage EXCLUDED? No, but there are reasonable actions the owner must take prior to a named storm. Not a factor for me though.
Is it protection & indemnity or split limt liability coverage? Protection Indemnity.
Not one of you mentioned an umbrella? Yes - We have a separate umbrella liability policy.
Do your policy have navigation or territorial limits? I think so, but again not a factor for me as I will NEVER take my boat outside of these territories.
Does your carrier use company or independant adjusters? Not sure on this.
Is that adjuster marine certified? Not sure on this.
Do you live in or operate in a "No Fault" state. No
Do you understand what a no fault state is and how it affects the coverage you buy? NA

Deductible $500.
Boat Coverage Limits: Fair market value which is currently more than I paid for it.
Medical Coverage: $1000 - but have an umbrella to come in behind this
Uninsured boater: Yes

My $193 still looks good to me.

$400/year on $50k boat. $500 deductible in the mid-west. Stored inside.