Boat Insurance

[markm]

My policy is for the current value of my boat rather than replacement value. It also does not cover contents or accessories. I am very happy with my company, but they have given their boat business to Progressive Insurance. I think I should look around. My company also suggested that I have my boat surved, especially since Ranger Tug has many add ons and accessories that are not taken into account.

My main concern is having adequate coverage in case of theft or other disaster.

I know this a broad and subjective subject, but I really need some general advise here.

Thanks

Mark

 

[norbhat]

In my research, State Farm was not competitive. BoatUS quote was about half of SF. And Allstate was half of BUS. I'm with Allstate, although a competitor mentioned that the company was "in trouble." How any company will pay off is something I know nothing about. So I bought for blind peace of mind :? . Norb

 

[henrym]

Surveys for insurance purposes are usually required for older boats, not for year old ± boats. For years I insured with Boat US until they gave me a quote for Little Toot. For the same policy coverage and limits, Boat US was almost 2.5 times more expensive than Progressive. They did not ask me what accessories or equipment was on the boat, just what did it cost and how much do you want to insure it for. Other boaters nearby and I have been very happy with Progressive.
Henry

 

[ccconway]

I am in the process of buying a Ranger 25 and hope to take possession by the end of this month. I am buying it to replace a 32-foot nimble motor sailor i lost in January on the Potomac River when the engine quit and I was blown aground onto rocks where 25 knot winds and 3 foot waves pounded the boat and caused a breach in the hull--a total loss. i had a Boat US policy for $100,000 stated value. While i probably paid more for that policy over the years than one that would have provided only current appraised value, I was glad to have had the policy when i needed it--the over $50K i am netting after paying off the loan on the Nimble is what is allowing me to get a new Ranger 25.

Chuck Conway

 

[captain's cat]

Take a look at the C-Brats site. Many of us, including me, use Progressive and are very happy with it. You can do EVERYTHING on line. I have my boats and cars with them and have never talked to an agent or the company. Very convenient and efficient. I switched from USAA after almost 40 years. PM me and I'll tell you why...

Charlie

 

[rt11002003]

One should carry insurance which pays an agreed or stated value. I recently insured my R-21 EC with Boat US for an agreed amount which included all the optional equipment. I use Progressive for some of of my insurance and USAA for the rest.

I used USAA for my boats until they quit insuring yachts and started using other underwriters.

Gene

 

[notaclue]

hey rt, i also have extensive dealings with usaa [ without a doubt, the best insurer in the world] when i went to insure our r25 they underwrote it to progressive, who gave me a great quote for the replacement value of the boat that was determined by the survey i had done even though our boat was only 2 yrs old,, hope this helps somebody,, we still have notaclue

 

[RDragon]

Insurance as always is a little tricky subject. However...I have had very good dealings with 1 particular agent in the Seattle area. Changed after BoatUS sent my rates skyhigh. This policy covers so much more and appears to my untrained eye to truly offer more coverage. The Underwriter is Lloyds. I believe (wife pays bills :? that it costs under $500 a year for replacement value) Chris Gibbon (206) 269-5200. Just a thought...Have a great day

Drew

 

[Tugly]

We use Foremost and have full coverage for $433.80 annual. Never had a claim but have local service through Farmers.

 

[Texas Steve]

For those that boat inland, my Nationwide Policy for my R21-EC runs $292 per year for replacement coverage. I am investigating the differences between a yacht policy and a boat policy now.

Steve Frisch