How many people insure their boat??

Just wondering as insurance here in BC is quite expensive. What do you pay?? We have a 2005 V-ride and were quoted around $850.00 for 2 mil. liability. Anyone know any other insurance companies in BC? I called around and not too many places carry boat coverage.

If you need two million even in Canadian dollars why even balk at the price of insurance? Cut it down unless you need more?

insurance is a must with any motor vehicle pretty much, regardless of cost

Most people insure their boat/car/home to say $300K and add an umbrella on top to boost the liability coverage further.

I think it's somewhere between 4-500 a year.

Hey Tanya talk to your regional waterski/wakeboard association. I'm pretty sure as a member the alberta association has somewhat of a discounted rate set up. I should really know this but I'm not 100% sure.

Gratz or anyone else out there that know's help me out.

Thanks Jeff, The couple of insurance companies I spoke with had no idea about boats but are trying to insure them. Anyone know what are local waterski/wakeboard ass. # is in Kelowna, BC

I pay 563 a year for my 2005 Chapparal through Allstate, saw a post in here about State Farm really taking care of some folks, so called for a quote and they hit me with 693 every six months even if I swung over my home, 2 cars and my motorcycle. I stayed with Allstate.. They were considerably higher across the board.

Just insured mine 100/300K and 2000 loss of property on boat. $500 a year with discount for boater safety certification.

Everyone needs to read this article written by one of our own regarding insurance.
http://www.wakeworld.com/Articles/2004/insurance.asp

Edit: In fact you might want to check into separating your policies so one or two claims do not get you cancelled for say your home owners insurance.

(Message edited by peter_c on March 07, 2006)

Tanya try this out,
http://www.wswbc.org/

Tanya In alberta we are paying $830 a year and thats through the same company that does our house and vehicles

i am paying 800 and a bit for my 2006 mastercraft x-1 through barton insurance in salmon arm b.c they are good to deal with.

$660 in Alberta with the Co-Operators in Barrhead AB. 2006 X-2

Just got a new quote for $609 from a local company.

Jeffrey - are you a member? Was wondering if it is worth it. They wouldn't give me a quote without signing up.

Thanks Tanya

Tanya,

I'm actually one of the two wakeboarding directors for water ski wakeboard Alberta for the 06 season. My father looked into the different rate between a member and non a few years ago and the company he had was slightly lower than associations rate.

I'm not sure about BC but being a member in Alberta is relatively inexpensive (I think it cost me $10 last year, but I do believe there were different levels, sorry I'm a bit rusty at this stuff)

Okay so I looked it up since I should know it

"Active WSWA Membership
$20
For Single and Family Memberships
(1+ people within one household)
*Please include all family members

Membership benefits includes:
- Participation in any WSWA programs
(Tournaments/coaching/officials/boat driving clinics, etc…)
- Discounts at WSWA partner marine retailers
- Option to purchase discounted boat insurance through WSWC's Towsmart Program
- Receive all newsletters and publications from WSWA and WSWC
- Voting privileges at all WSWA General Meetings
- Ability to run for and be elected to the WSWA Executive Board
- Eligible to compete in all sanctioned competitions within AB
- Eligible for subsidies for coaching within AB
- Eligible for subsidies for extended training season "

So the value all depends on you and what you want to get out of it. As a member you have access to sanctioned events, camps, and clinics.

I joined water ski wakeboard alberta last season to have access to a club and coaching. This year even without being in the position I am I was planning on competing more, getting more coaching, and I am hoping to hit up a coaching clinic so for myself being a member would be very well worth the minimal cost. If it saved me on boat insurance, even better.

Progressive...425/year. Had a claim last year. Great company. I agree with separating policies.

Boat US has great rates, I pay $325.00 a year to cover my 2003 centurion avalance 100/300K 500k fuel spill, on water towing, trailer coverage also for flats ETC. and much more.
check them out!!!

i'm in BC, Do you think Boat US has coverage here in Canada? Do you have a number I can call?
Our Membership to WSWBC is $60/year
Thanks for your help

you can go to www.boatus.com for moer info.

Tanya:
You can afford a boat and then even ask if ins is needed? Please read my article on insurance. I am not framiliar with Canada so Please ck with local agent. If law is "No Fault" then even that much more reason to purchase it. Your self insuring you and your family. If it is "at Fault and you can be held liable for any injury or property damage it's ludrichris to not purchase at least liability coverage. Its buying a legal defense and I dont know of any lawyer that will begin to defend you for less than 10-20K retainer. Wheather you insure the hull or not for damage is up to you and the size of your wallet
Rick

Rick...ludicrous And yes it is ludicrous....no matter how you spell it!!!