# Boat insurance.



## ihavenoideawhattoput (Jul 22, 2010)

Do you have it?

Why?

Why not?

Who do you have it with?

Cost per year for what type coverage?


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## baseball_guy_99 (Jul 22, 2010)

I don't have it on the Jon Boat but my dad has it on his Ranger.

It is insured through the same company as their house. State Farm I believe.

I think it used to run him a couple hundred bucks a year because he did alot of tourney fishing. But now its insured like a pleasure boat. So its much cheaper.


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## bobberboy (Jul 22, 2010)

There was a thread about this a couple of months ago. It can be a little complicated because of the fact that the trailer is a "vehicle" and the boat is not. I have my 1448 w/25hp Merc insured through Progressive for about $100/year. When you are considering whether to insure or not, don't just think of replacement costs. Other things can happen too. Accidents, by definition, aren't planned events and they do happen. Medical and liability are also important issues and in our very litigious culture, you can get sued for just about anything. Best to insure. The price surely goes up with the value and hp, but worth it in any case.


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## redbug (Jul 22, 2010)

I have mine insured the main reason is to protect my family and what we own.
for a couple hundred bucks a year i have 300k in liability that will protect me from being sued..
I also have 5k worth of tackle replacement


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## dyeguy1212 (Jul 22, 2010)

redbug said:


> I have mine insured the main reason is to protect my family and what we own.
> for a couple hundred bucks a year i have 300k in liability that will protect me from being sued..
> I also have 5k worth of tackle replacement



What company, if you don't mind me asking?


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## redbug (Jul 22, 2010)

I use anglers advantage. They cost a bit more than others but they sponsor our big fish prize if you have the insurance and are wearing the patch and win the big fish at the local level they add $100 at the nationals it is 5k
I have won the prize 3 times in the past 4 years all at the local level


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## fender66 (Jul 22, 2010)

I do have insurance through American Family. I've been warned by my local dealer that the 2 companies to use are either American Family or Prudential. Reason?......the other companies really nitpick the repairs and try to weasel you out of every penny they can. He's working a several claims a week during the summer so I'm trusting that he knows what he's talking about. My house is with AmFam so it was easy to do. Before I knew this info, my older tin was insured with State Farm. I learned that they were a LOT more expensive too.

Right now my boat/motor/trailer is insured for $18,000 with content at $3,000 and $300,000 for liability for each passenger and it's costing me $300 a year.
My old tin was insured for $3000 with content at $2000 and same liability. That was costing me $120 a year.


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## clarkbre (Jul 22, 2010)

ihavenoideawhattoput said:


> Do you have it?



Yes I have insurance. 
Boat: 2000 Lund WC16
Motor: 1997 Suzuki 15hp 2 stroke
Trailer: 2006 King



ihavenoideawhattoput said:


> Why?



I have learned my lesson by having a boat motor stolen.



ihavenoideawhattoput said:


> Who do you have it with?



State Farm



ihavenoideawhattoput said:


> Cost per year for what type coverage?



Cost per year is about $65. I have an agreed amount of $5000 for boat/motor/trailer. Coverage is full replacement in the event of an accident on or off the water or if it is stolen or damaged while being stored. My theory is there is a greater probability of damage while trailering or storing than on the water.

I do not carry liability due to the fact that most of my fishing is done on electric only lakes. I do have a 15hp motor for my boat; however, most fishing holes here are 8mph or less. The two or three times a year that I use it on open water is not worth insuring for liability.

I do have a boater’s safety card issued through the State of WA and that lowered my insurance by 15% I think.

In all, if something gets damaged or ripped off, I want to be able to replace it with the like/kind/quality of what I had.


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## sturdi87 (Jul 22, 2010)

I don't have it... yet.

Why? because I haven't gotten too it yet although it probably should have been one of the first things on my list. Thanks for reminding me. I will get on that before it moves again probably.

Why? I have learned the hard way seeing someone close to me make a mistake with insurance. Long story short my grandpa spent his whole life building up his machine shop, it was a tool and die co. out of TN called JIT Tooling and after retiring and shutting down he cancelled the insurance on the business a couple weeks before the auction to liquidate all his equipment was scheduled. No production was taking place and thus there was no revenue with a liquidation coming up why pay the expensive insurance one more month. Well a leak in a gas line met a short in an electrical wire and five CNC machines, more welders, presses, lathes, and etc. etc. etc than you have probably ever seen and would probably love to have became nothing more than they were worth in metal weight in a few instants. I've put some work and time into my tin as well as worked some overtime to pay for the parts I put in it, why risk all that going in an instant? Just not worth the risk. 



redbug said:


> I have mine insured the main reason is to protect my family and what we own.
> for a couple hundred bucks a year i have 300k in liability that will protect me from being sued..
> I also have 5k worth of tackle replacement



I wonder if state farm will let me take out 3K replacement on the boat and 5K replacement on tackle?! And does that cover snags? :lol:


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## Waterwings (Jul 22, 2010)

I had coverage on my rig (electric-only) through State Farm. It covered replacement of boat/trailer and just the stuff that came with the boat. It ran $70 a year. Haven't renewed it for this year as I haven't had the boat out this season, and probably won't.


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## littlejohn (Jul 22, 2010)

Progressive
At only $100 a year I couldn't really justify not having it. Covers the boat and trailer. I'm more scared of other people causing damage to me, just being cautious.
I'm even covered to 75 nautical miles off shore. Somehow I don't think my little 1432 would do all that well that far out at sea.


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## bassboy1 (Jul 23, 2010)

If I'm not mistaken, anytime the trailer is connected to your truck, it is covered under the vehicle policy.


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## dyeguy1212 (Jul 23, 2010)

bassboy1 said:


> If I'm not mistaken, anytime the trailer is connected to your truck, it is covered under the vehicle policy.




That's a pretty big generalization.


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## perchin (Jul 23, 2010)

bassboy1 said:


> If I'm not mistaken, anytime the trailer is connected to your truck, it is covered under the vehicle policy.



That's correct.


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## clarkbre (Jul 23, 2010)

perchin said:


> bassboy1 said:
> 
> 
> > If I'm not mistaken, anytime the trailer is connected to your truck, it is covered under the vehicle policy.
> ...



Myth: BUSTED!

That's entirely not true. Maybe for your insurance company but many do not cover it. If that was the case, the motor that was stolen off my boat would have been covered.

Either or, I'd call and ask your insurance company about it. Chances are good the boat/trailer/motor needs its own policy.


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## redbug (Jul 23, 2010)

my auto coverage covers my boat and trailer in the event of an auto accident it will NOT cover anything stolen or braking down..
I had a trailer tire snap off during a trip down south it went through the windshield of an oncoming car that was covered in full by my auto insurance


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## clarkbre (Jul 23, 2010)

redbug said:


> I had a trailer tire snap off during a trip down south it went through the windshield of an oncoming car that was covered in full by my auto insurance



In that situation, your insurance company probably saved your butt. That other driver's insurance company could have easily come straight after you for the damages. On road liability may be covered if something catastrophic goes wrong, however, I'm sure your insurance would not cover the repair to your boat trailer.


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## KMixson (Jul 23, 2010)

I think that when you hook up a trailer to your vehicle it is covered under the vehicle insurance. When I drove trucks we never had to check each trailer we hooked to for insurance because it fell under the tractor's insurance. The trailer would be registered and licensed but not insured.


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## island fever (Jul 23, 2010)

Again the trailer was probably not covered for loss or damage either those box trailers get pass around like $2 whores. The Tractor's insurance covers liability I'm faily sure.

Also if you are in an accident on the water you would not be covered at all. On an all electric lake not a big deal but if your in larger lakes like Lanier or on some of the bigger rivers I would say get it. People run people over all the time on Lanier I know.


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## redbug (Jul 23, 2010)

the damage t my trailer was cover also i had to pay my 500 deductible
they driver was not hurt ut took the Summer off from work..
she came after me and my insurance paid her 25k. the following summer she came at me again looking for more money
i told my lawyer that they didn't print enough money to take away my guilt they made another offer she rejected it 
her friends said she had a million dollar case that was not the facts.. she wound up with nothing after she said no to the last offer


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## fender66 (Jul 23, 2010)

redbug said:


> the damage t my trailer was cover also i had to pay my 500 deductible
> they driver was not hurt ut took the Summer off from work..
> she came after me and my insurance paid her 25k. the following summer she came at me again looking for more money
> i told my lawyer that they didn't print enough money to take away my guilt they made another offer she rejected it
> her friends said she had a million dollar case that was not the facts.. she wound up with nothing after she said no to the last offer




People like that should.....well, I don't have anything nice to say so I better not say anything at all. :evil:


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## bad1 (Jul 27, 2010)

Do you have it?
***Yes I have my 22 Foot pontoon and also my 1032 Jon boat covered.

Why?
***I got my Jon boat at a great price, as well as the motor. Total cost for Boat (2007 Alumnacraft), Trailer, 2001 3.3HP Mercury motor, 30lb trolling Motor, LARGE Deep Cycle Batteryfor about $400 after taxes. So If I sink my boat, crash the trailer, and lose the motor, I am not out much money...BUT....If I accidently run into a $100k boat, or any boat per say, and NO insurance..well I will be eating bread at the homeles shelter. I fish near the Marina in the early mornings or late night, thus my xposure to big and xpensive boats is heightened. Also my trailer is covered, and if my car breaks, both are towed, as well as on the water towing.

In Texas, you are liable for damage PERIOD!!! Additionally boats and outboard motors in Texas have to be titled, so if I do crash and damage any other property, and do not have titled boat and motor, then my boat and all coverage will NOT be covered. So if you buy any boat and outboard combo, and there is no title, you are putting yourself and the titled owner of that rig at risk, the titled owner has the primary responsibility (thus when I sell a boat, outboard or even car, I go with the buyer and change title registrations Immediatly)

Why not?
***see above

Who do you have it with?
***Progressive

Cost per year for what type coverage?
***$105.00 per year (Coverage for $1500) - Jon Boat (I don't have to carry additional insurance on my fishing and tackle gear, portable fishfinder, since they are covered on my 2009 pontoon, plus I get multi vehicle discounts since my Motorcycle and scooter Insurance is also with Progressive)
***$275 per year - 2009 Avalon Pontoon


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## perchin (Jul 27, 2010)

clarkbre said:


> perchin said:
> 
> 
> > bassboy1 said:
> ...


 What would I know.... Although my Insurance license did expire last year. I can say in the great state of Michigan, we have a no fault policy, and this holds true.....


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## russ010 (Jul 27, 2010)

KMixson said:


> I think that when you hook up a trailer to your vehicle it is covered under the vehicle insurance. When I drove trucks we never had to check each trailer we hooked to for insurance because it fell under the tractor's insurance. The trailer would be registered and licensed but not insured.



trailers are covered - it's considered mobile equipment. As long as it's attached it's covered (even if it comes unattached as in redbugs case (which sucks that happened))... Trailers on trucks are covered in the even they cause damage. Auto insurance is in parts - Bodily Injury (for the other person, not you), Property Damage (your trailer hits someone's mailbox)... then there's Comprehensive and Collision. This is where you can get get your boat trailer repaired so long as you pay the deductible. If you carry Liability only (no comp/coll) you are S.O.L on any repairs.

If you boat is parked at your house, a lot of times your Homeowners Insurance covers it. 

But like said before, every insurance company is different, and there are 100 different ways to interpret an insurance policy. The best boat insurance you can get generally comes from an insurer like BoatUS, Boat Insurance Agency or the company Redbug uses (sorry, forgot the name).
You can try the State Farms, Geico's and all the other insurers (I use USAA)... but that is not their bread and butter and generally they put "newbies" in those departments to get their feet wet.


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## wasilvers (Jul 27, 2010)

I called my agent and he looked into it for me. He said that as long as my boat had motor of <50hp, it was covered under my homeowners policy with the same limitations. 

But now I put a 50hp on her :x 

I don't have insurance yet - mainly because I'm cheap. Next year I will be getting it. I was quoted about $200 annually for pretty decent coverage of the boat and contents (replacement value).


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## russ010 (Jul 27, 2010)

i may be mistaken... but I think homeowners only covers it while it is parked at your house. If it's attached to your vehicle, it may or may not be covered by you auto comprehensive. While it's on the water - it's just about got to be covered by its' own marine policy. Even if your boat is covered for marine insurance under your homeowners policy, you still may want specialized coverages that you just can't get with a standard homeowners policy.


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## Quackrstackr (Jul 27, 2010)

clarkbre said:


> Myth: BUSTED!
> 
> That's entirely not true. Maybe for your insurance company but many do not cover it. If that was the case, the motor that was stolen off my boat would have been covered.
> 
> Either or, I'd call and ask your insurance company about it. Chances are good the boat/trailer/motor needs its own policy.



Speaking of theft, have you checked your auto insurance policy for theft? If not, you probably should.

I've twice had my truck broken into with contents stolen out of it. The auto policy covered the broken back glass but didn't pay a dime for the contents. Luckily, my homeowners picked it up.


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## clarkbre (Jul 27, 2010)

perchin said:


> What would I know.... Although my Insurance license did expire last year. I can say in the great state of Michigan, we have a no fault policy, and this holds true.....



I’m not saying you don’t know anything. I’m saying just because a trailer is hooked to your vehicle, doesn’t make it insured. What exactly is covered if the trailer is attached to the vehicle? Again, I ask you, if a trailer/boat/motor is hooked up to a tow vehicle, and the motor is stolen, why doesn’t the vehicles full coverage insurance cover it? What part of the vehicle’s coverage covers the trailer/boat? Also, how are travel trailers covered? Some of the 5th wheels you see towed behind a diesel pick up are worth more than the tow vehicle itself. So, you pay to insure your tow vehicle and your 5th wheel (that is worth more than your truck) is covered at no extra cost?

Also, homeowners insurance doesn’t automatically cover vehicles parked on the property. I would advise to seriously look at what is excluded from your homeowners and vehicle policies. Boats, RV’s, and other licensed vehicles often times need their own policy against theft, natural disaster damage, and vandalism.


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## russ010 (Jul 27, 2010)

clarkbre said:


> What exactly is covered if the trailer is attached to the vehicle? Again, I ask you, if a trailer/boat/motor is hooked up to a tow vehicle, and the motor is stolen, why doesn’t the vehicles full coverage insurance cover it?


It's not covered because it can be removed - it's not permanently installed



clarkbre said:


> What part of the vehicle’s coverage covers the trailer/boat? Also, how are travel trailers covered? Some of the 5th wheels you see towed behind a diesel pick up are worth more than the tow vehicle itself. So, you pay to insure your tow vehicle and your 5th wheel (that is worth more than your truck) is covered at no extra cost?



The coverage that covers is Comp/collision - IF it's in your policy. Liability only covers you trailer if it were to cause some type of accident while attached (or unattached in redbugs case). Liability covers the other person - not you or your own personal effects. Before you tow, it's generally a good idea to call the company and tell them what you are doing... they may want to charge you a little extra for the amount of time you will be on the road with it. You'd be surprised how cheap it actually is, especially if you have a good driving record.





clarkbre said:


> Also, homeowners insurance doesn’t automatically cover vehicles parked on the property. I would advise to seriously look at what is excluded from your homeowners and vehicle policies. Boats, RV’s, and other licensed vehicles often times need their own policy against theft, natural disaster damage, and vandalism.


Like I said, every policy is different. But most policies that I have seen cover these - unless you get something like Safe Auto or The General... those are the policies that don't cover anything. You get what you pay for.


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## perchin (Jul 27, 2010)

clarkbre said:


> perchin said:
> 
> 
> > What would I know.... Although my Insurance license did expire last year. I can say in the great state of Michigan, we have a no fault policy, and this holds true.....
> ...



Sometimes I go back and read how I wrote something and #-o .... It really wasn't my intent to be a jerk there.... but was me typing my thought process in order. Like I was thinking...... well, what would I still know, I have not sold it for some time now, Although My license did only expire last year, and so on. :lol: 

Anyways what russ said for the most part sums it up. And all of the homeowner policies I have ever seen or sold also covered the before mentioned.

I'm also not saying that you should not need boat insurance, as I believe you should still have it to cover all possible cases of theft, injury, and damage. :wink:

By the way guys not to be a downer but, Russ is probably the only one whom is legal to give out insurance advice. And I know he has a hefty bank of knowledge in this field... as I think he once stated he is an underwriter.... I don't envy your need for constant update training there sir :lol:


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## clarkbre (Jul 27, 2010)

Ok, lets agree to somewhat agree. I’m not doubting you guys at all, you’ve had the training so your points are extremely valid. I just want to make sure people on this forum don’t get the wrong impression that if it’s hooked to their tow vehicle, it’s covered no matter what. 

It does make sense that the liability would be carried from your tow vehicle to anything attached to it. And it does make sense that an “act of God” damaging your boat on your house property would result in a claim settlement.

However, it’s advisable to go above and beyond. You can get a designated policy for your boat/motor/trailer package that covers theft, vandalism, at fault accident on the road/water, etc. This insurance is good specifically for boat repairing or replacing your set up.

On a side note, I carry a policy for my camera equipment. Sure my homeowner’s insurance covers it if the camera gets stolen or damaged by an act of God at the house. However, I have a policy that specifically covers damage in the field. So, if I drop it in water, damage it boating, or it gets stolen on vacation, it is replaced at an agreed value.


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## russ010 (Jul 28, 2010)

clarkbre said:


> However, it’s advisable to go above and beyond.



That pretty much sums it up right there.

And don't read too deep into what I write - I never try to come across as a know it all or jackass, but if you read it like that I'm sorry. 

And yes... I do insurance everyday, all damn day long... and it does get interesting sometimes. But I can be wrong too - I don't deal much with personal insurance. I underwrite accounts that generate atleast 700million in revenues yearly (papa johns, lowe's, home depot).. would I blow your mind if I told you that Dollar General generates more in sales than those 3 put together?


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## KMixson (Jul 28, 2010)

russ010 said:


> I underwrite accounts that generate atleast 700million in revenues yearly (papa johns, lowe's, home depot).. would I blow your mind if I told you that Dollar General generates more in sales than those 3 put together?




I think it is Dollar Generals policy to build a store in every town that has a population greater than 100. You may be 75 miles or more from a Lowes, Home Depot, or Papa Johns, but there is a Dollar General right around the corner. I have 5 stores within 4 miles of my home.


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## russ010 (Jul 28, 2010)

KMixson said:


> russ010 said:
> 
> 
> > but there is a Dollar General right around the corner. I have 5 stores within 4 miles of my home.



that's all?? I'm going to have to call them and tell them to build more.

Their business plan is unreal... but dang if it don't work... I'll just say - over 5 billion in sales annually


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