Boat insurance worth it?

[SPOONMINNOW]

I'm buying a new boat and wondered if boat insurance is worth the annual premium. Never had it on by Ranger bass boat for over 25 years, but then again I rarely ran it on heavy traffic waters. New, the boat cost 21k - aluminum with an aluminum trailer. I figure the best insurance is using common sense on the water and daring jerks on the water to a duel like a club member did and turned his boat over crashing into a jet ski.

 

[ficht158]

in todays world I would not put that boat on the water without insurance. shop around as the rates are not that bad.

 

[zack1a2]

Stay away from Allstate at all cost!

 

[SPOONMINNOW]

Just checked out Progressive and full coverage, including trailer, was $209/yr. Being that everything is aluminum and new boat value of $22k I'm sure was a lot cheaper than a new fiberglass bass boat selling for more than 50k.

Wife insists we get it considering my deteriorating driving skill (according to her). LOL

 

[SPOONMINNOW]

Nice thing I just found out about Progressive is that if I have no accidents for one year, 25 % is taken off the deductible and another 25% per year after that lowering it to zero deductible.

 

[Pop-R]

My agent recently shopped my pontoon boat that is valued at 14K and switched my policy over to Safeco for just over $200 a year it protects you from theft of boat or property on it, accidents & Injuries caused by or on the boat and even includes tow insurance. In this day and time I wouldn't want to be without it. You can make a claim on the boat fiberglass or engine foot if you hit a log.

 

[Rob Lee]

You’re kidding right? I wouldn’t pull mine out of the garage without it. My annual boat premium is 425.00. That is 35.41 a month for 30,000 in liability. Boat, motor, trailer, electronics power poles.

 

[Paul Nichols]

I deal with boat insurance companies a good bit. When it comes to anything to do with the outboard motor Progressive is by far the worst insurance I've dealt with by far.

 

[JEEPnFISH]

Gas fire, garage fire, towing to and from lake, theft.
I would insure to fool out of it.

 

[SPOONMINNOW]

Paul Nichols - 5/4/2018 1:29 PM I deal with boat insurance companies a good bit. When it comes to anything to do with the outboard motor Progressive is by far the worst insurance I've dealt with by far.

</p>

From your experience, what happened?</p>

 

[rusty50576]

I’ve had a boat stolen and was glad I had insurance

 

[Smalliefan2]

Unless you can afford to lose your $21K, get insurance. The way folks drive, your boat could be whacked driving to the ramp, and totaled. I use Boat US, agreed upon coverage, and pay $ 188./year. That is a five year no claim discount. Includes $300k liability, accident, med, property, spill clean-up. You may be safe and alert, doesn't mean the other jerk is. To me, it is no different than homeowners or auto.

 

[31airborne]

The liability aspects alone oughta lead you to buying a policy. Most states won't let you register your sled without it. And with all the thieves and s***heads out there ripping stuff off the premium is a small price to pay for a lot of peace of mind.

 

[CATCHMAN]

I am a Farmers agent in Cleveland, TN. Give me a call at 423-226-4200 and I'll check it out. Homeowner insurance doesn't cover a boat. You might get some personal property coverage on it if it was in the basement or garage, but it would be minimal. If you keep it under a boat cover in the back yard, it better be covered all by itself. Boat insurance covers a boat. Same goes for four-wheelers, motorcycles, etc.

 

[gobigorange]

State Farm just replaced my lower unit this year no questions when i hit a log on nickajack

 

[heath423]

Boat insurance is a must. One never leaves the house heading to the lake looking to have an accident. Years ago I caught hit a huge wave by accident and had 5 rod/reels go over-board in 30FOW with river flow. Insurance replaced those items. Boat Ins is fairly cheap and a great piece of mind in the event you ever had to use it.

 

[finbully]

Really are you serious no insurance? If you were ever involved in an accident you could end up loosing everything you have and owe reperations for the rest of your life.

 

[SPOONMINNOW]

Looks like I've lucky for over 25 years. State Farm (my home and vehicle insurance) is not bad for boat and trailer. Deductible is $500 and hopefully won't have to use it. I still haven't heard negative experiences about Progressive, but Paul advised strongly against going with them. (Could it have been his agent?)

 

[Gator]

I think Paul is speaking from his viewpoint as a Marine dealer and he has dealt with them on claims. Personally, I feel you are taking a HUGE financial risk if you don’t have insurance coverage, just think of the amount of money you could be sued for should you have an accident involving a child. Liability would cover situations like that.

 

[Blue76]

zack1a2 - 5/4/2018 11:15 AM Stay away from Allstate at all cost!

</p>

</p>

Why? I have Allstate and they are cheaper than anyone I can find. I beached mine about a week after I bought it and had not even made a payment yet on the premium but they sent a marine estimator out within days and paid me way more than the estimate I got for the repair. It couldn't have been any easier or better experience.</p>

Evidently you had a different experience.</p>

I don't even have any other insurance with them. Cost me less than $200 a year </p>

Greg</p>