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Thread: Boat insurance?

  1. #1

    Default Boat insurance?

    Hi guys, was wondering who you use for the insurance on your boat(s)?. any problems/praises etc with the one you went with would be helpful....
    i have already contacted "dolphin marine" and got a quote!....thanks larry

  2. #2
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    I use Allstate for my boat and they were the cheapes for the size boat i have. Have not had a claim yet but they gave me a pretty good deal on the cost. I also get 10% off the top i believe for a boaters safety card as well. Check into it.
    Regards

    Sweepint
    Wasilla, (when not overseas)
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    Member Blue Thunder's Avatar
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    Default State Farm

    I have my ins with State Farm, house, boats and vehicles. Discount for every thing insured with them and for a boating safety course. I have tried to find a better price with all of the cheaper company's, with no luck. I had a claim on my big boat, because of vandalism, it was a big claim and they came through with no problem after the adjuster looked at the boat.
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    Member Cap'n Ron's Avatar
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    Default I use allstate too...

    Quote Originally Posted by sweepint View Post
    I use Allstate for my boat and they were the cheapes for the size boat i have. Have not had a claim yet but they gave me a pretty good deal on the cost. I also get 10% off the top i believe for a boaters safety card as well. Check into it.
    Regards
    I got Allstate for two reasons: my old insurer wouldn't insure my boat when I moved it to Alaska, and they had a better price than anyone I checked and an office in Valdez.

    I have had two claims, both major, and both were handled efficiently, fastly, and with no BS, I thought they were great. Two different boats on these claims. You really don't deal with your agent after the policy is bought, except to connect you with claims. They accepted my local repair shop and pictures to complete the claims, didn't have to send a claims adjuster. They paid fast and didn't squabble. All around, a good deal for me. AND....they have not raised my rates after two claims in 3 years!

  5. #5
    Member Jimw's Avatar
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    Allstate i have not had to file a claim, but i did have a small ding in the boat and they were very helpful on getting it fixed if i wanted to.
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    Member Maast's Avatar
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    I just went through USAA (who subcontracts to Progressive) and got $78k boat replacement value w/ a 1000 deductible, sea towing coverage (extra 24 bucks a year), and $1000 worth of replacement value on boat contents (which is too low). 50k/100k on the liability/etc

    The $78K includes everything that is bolted to the boat (radar, chartplotter, heater, etc).

    I went with replacement value vs depreciated value since deprecated value might not cover the loan value and I might end up with no boat at all if I ever had to do a full claim.

    It's running me $840 a year.

    Even though I already bought the insurance I'll also give BoatUS a ring for a quote here in a month or two - $840 a year seems kind of high to me.
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    Default State Farm

    State Farm has always treated me right. I have had two claims that were handled quickly and without much fuss. One was a catastrophic engine failure. They sent a surveyor out to take a look and replaced the engine for my $500.00 deductible. Can't say enough good about them.

  8. #8
    Member Maast's Avatar
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    PS
    The only restriction is that I have to stay within 75 miles of shore. Which won't be a problem :-)
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    Member Blue Thunder's Avatar
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    I have tried Boat US and they say that they do not offer anything for Alaska
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  10. #10

    Default Progressive

    I've always used Progressive. They gave me no hassel on a large loss claim and never raised my rate. I have a $35K agreed price policy with $5k equipment and tow for $480 a year. I drop the policy when the boat is parked for the winter. My homowner's policy covers it in the back yard. I end up spending $150.
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    I have everything with State Farm. Home, two vehicles, and four boats. I get a discount for taking a boating safety class.

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    Member AK_Kid's Avatar
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    USAA has good prices and unreal service. I'll never use anyone else.

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    Member HuntKodiak's Avatar
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    Default USAA & Progressive

    Living in Alaska and having a more expensive boat did seem to limit the available insurance companies.

    I've been with USAA since the early 80's, and they've always treated me well. When USAA referred me to progressive, they seemed easy to work with and I liked the policy they sold me.

    Doug,
    Interesting thought about canceling your policy in the winter, but I'd recommend you verify that your homeowners policy will cover it without increasing your homeowner's level of coverage. For the same reason home insurers ask for updated information on your home, property, and belongings periodically, an extra liability of $40k without paying more may earn you some problems if you try to file a claim later on.

    Just a thought to possibly save you from some difficulties.

  14. #14
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    I too would look into that home owners coverage, i was told that if an item can get a policiy by itself then it would not be coverd under the home owners coverage. For instance my snow machines are sitting in the garage and it burns down that are not covered because you can get a seprate policiy. It is well worth the time to check into it and make sure.

    Good luck

    Sweepint
    Wasilla, (when not overseas)
    '' Livn' The Dream ''
    26' Hewescraft Cuddy, twin 115 Yam

  15. #15

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    thanks for all the replies guys!....i was pleasantly surprises how cheap boat insurance is compared to othere things!...i got a quote for apprx $1400 for full replacment coverage up to $200,000!....i will check out a few you guys have mentioned, even give my home owners insurance company a kick at the cat!..thanks again larry

  16. #16
    Member Maast's Avatar
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    Dang, that's pretty good, where'd you go and what kind of coverage levels? And do they have a history of no-hassle claims?
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  17. #17

    Unhappy Homeowners Policy

    I'll need to check my coverage. I just assumed it was covered in the back yard (pun intended). Although, even if not, I would still have to consider if the risk presented (very little) out weigh the cost of the premium (a little more). Thanks for the heads up Kodiak. I'll check it out and get back to you all.
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  18. #18

    Default

    Quote Originally Posted by Maast View Post
    Dang, that's pretty good, where'd you go and what kind of coverage levels? And do they have a history of no-hassle claims?

    Hey Maast!...that compnay was called dolphin insurance, i guess it is well known in BC Canada...i just phoned up and asked for a quick quote,,,we talked for about 15 minutes, told him what i wanted, and thats what i got for a quote!...not sure at all about how good they are about claims etc,. was hopeing someone here could clue me in about them, or had heard anything good OR bad!....i wont be buying the boat until the end of the year, so still have time to check things out!...but, that's what he said, $1400 a year, FULL coverage, but not sure about the limit on the contents! ..somehow in my mind i was thinking $5000/year, considerieng the amount of money floating around off shore, getting pushed and pulled by the elements, and that elusive "rouge wave"!!!!..larry

  19. #19
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    There are several places that you can do free online safety boating courses online. Most insurance agenceies will give you a discount for taking one of these. I did one. Took me abotu 4 hours... discount and great information too!!

  20. #20

    Default State Farm Insurance

    I've heard of horror stories when guys tried to insure their jet boat but I had no trouble. When I asked State farm if there would be any issues or concerns insuring a SportJon they said "State Farm insures the person, not the vehicle" and they "don't take video's on YouTube into consideration". All they required was an assessment, current photographs, where the boat would be used (Alaska's internal rivers, lakes and waterways), and any loan paperwork on the boat/trailer.

    After about ten minutes my insurance policy for the Phantom ended up being about $35 a month with a $500 deductible. The policy covers $50K for the boat/trailer/motor, $100K per person for injury, and $5K to cover any equipment on board.

    Why the $100K per person you ask? Well, after watching my wife get hurt in two accidents and seeing how fast the medical bills stacked up I decided the extra coverage is the best policy you can have. I have the same additional coverage on my auto policy... a few dollars goes a longggggg way!
    "He should have been packing a more powerful gun...you have to be a very good shot or very lucky to stop a brown bear with a .357 Magnum." - Rick Sinnott, Alaska Department of Fish and Game biologist after a double attack by a grizzly.

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