What are you spending annually on Boat Ins.

Discussion in 'LOCAL WEST VIRGINIA TALK' started by mrshadetree0222, Jul 25, 2009.

  1. mrshadetree0222

    mrshadetree0222 New Member

    Messages:
    23
    State:
    Buffalo, WV.
    I do not work for or affiliated in any way, shape, fashion, or form with any ins. co. I am not soliciting ins. for sale in this post

    If this post is a violation in any way then plz moderators plz take it down as i wish not to be in violation of any rules set forth for this site. Just thought maybe an ins. question was appropriate with the economy the way it is we are all trying to save a few bucks, and well i did much better then a few bucks saved.

    Just wondering what fellow Wv'rs are spending on Boat ins. annually, i know their are a lot of factor that determine the values of your annual ins. costs, but on a realistic note we aughta be able to get a general idea on this value maybe just to see where we compare...

    Im pretty sure we are not allowed to mention name sof ins. co.s here in this format but we can atleast talk about rates and coverages without violating the rules of BOC.

    agreed hull value : 4400 250 deductible
    property damage : 300,000
    fuel and other spill : 800,000
    medical : 1000
    trailer agreed value : 800 50 deductible
    uninsured :300,000
    commercial towing :250/500
    total premium :233
    no loss credit :46
    net annual premium : 187 + 19 for annual membership dues =$206.00

    previous ins. co's premium: $448.00 annual
    same limits except boat and trailer were same package with 1000 deductible

    so where are you fairing up? is this a standard ins. rate or do I need to shop for anew ins. co. come next yr? Or do you need to shop for a new ins. co. next yr?

    this is only my 3rd yr insuring the boat as it is my first boat. Last 2 yrs I paid the 448 rate, and shopped online b4 I got ins. This yr and found this new ins. company with great crudentials, and a great record with BBB,
     
  2. Pip

    Pip New Member

    Messages:
    1,670
    State:
    pa
    I paying $279 annually for mine full coverage, being I just purchased it last year. Also picked up insurance if I break down out on the water or along the road while trailering. covers if I need towed or run out of fuel, battery's die, flat tire on the trailer or a bearing takes a crap. Nothing like having peace of mind if something happens, that i can call one number and they do the rest. Stuff isn't cheap these days, specially if your stranded in the middle of the night on or off the water.
     

  3. AwShucks

    AwShucks New Member

    Messages:
    4,532
    State:
    Guthrie, Oklaho
    I generally buy and use boats/motors so old there is little sense in insuring them. So, my actual outlay on the 4 boat I have is zero dollars per year. LOL
     
  4. Slatebar

    Slatebar New Member

    Messages:
    992
    State:
    ohio
    Full coverage with agreed value of boat $8300.00 and trailer @ $1200.00. With $250.00 deductable. Cost $183.00 per year. Progressive.
    I would never think of putting a boat on the water without at least liability.
     
  5. Big Sam

    Big Sam Well-Known Member

    Messages:
    4,286
    State:
    Booneville AR
    Name:
    Sam
    I got full coverage, road assistance, theft the whole 8 yards..Progressive...500.00 deductible that will be waived in 5 yrs with no claim....71 cents per day:wink:
     
  6. Mark J

    Mark J New Member

    Messages:
    9,407
    State:
    Four Oaks, NC
    Watch that 1000 in medical. A thousand bucks wont even fire up an X=ray machine and pay somebody to read the results. 10,000 aint squat either.

    Look at insurance not just as something you have to have because a bank or finance company is requiring you to. Instead look at it as something you need to protect you and everything you own including the boat you like. Be a bitch to go to the lake and see the guy you ran over driving your boat around while you still made payments on it.

    Not long ago I was sued for injuries and pain and suffering for a wreck that happened with one of my vehicles. I wasn't involved at all but I was still the owner and the insured.
    My insurance coverage wasn't going to cover what they were wanting by about 30,000.
    Thankfully I'm with a well known fantastic insurance company. They said, Mark, don't worry about none of this, we'll handle it. And they did.
    The fact is that they didn't have to. The person driving was living in my home and not listed as a driver.
    If I need to discuss something with my agent I don't have to drive across town. He comes to me at my convenience. If I need an adjuster I'll get one that day or the next. If my house burned down I'd have atleast a partial payment of the loss (enough to get somewhere to stay, some clothes, and food) within 24 hours.

    These are the kinds of things you shop for in insurance.

    What cheap insurance will get you.
    Coworker hit one of those deer grazing on asphalt a couple of weeks ago.
    No problem, he'll get a rental and be back at work the next morning a couple of hours late.
    WRONG! That is just one area they stuck him to be cheaper. No rental.
    So he rents a car out of pocket at 250 a week and misses 3 days of work.
    Took an adjuster over a week to look at the car and he came from another state. That is a week the car could have been in a garage and a week he could have saved on a rental.

    By him saving 150 -200 bucks a year is going to take years to recoup what it is costing him out of pocket. I'm still interested to see how bad the adjuster low balled the repair. Thank god he hit a deer and not a person.

    Watch the policies and protect yourself. Accidents happen. If you are underinsured attorneys will come after everything you own. That isn't a maybe. They will. Remember, attorneys make their money based on what they actually collect out of your butt.
    If you own your home I would also consider a blanket policy on top of your individual policies as a safety net.