: Boat Insurance 2000 Ranger/225 hp
08-15-2008, 04:51 AM
My son recently bought a 2000, 20' Ranger with a 2002, 225 Evinrude and trailer of course. This unit was owned by a farmer in central Illinois and is in great shape. He gave $17,000 for the combination and thinks he died and went to heaven. Kinda makes my 95 Lund look small but at least he will now leave my boat alone! I noticed the insurance statement the other day on the kitchen counter. They are telling him $1100 annually. Now I know he is 24 years old and this boat has the potential to fly but does that seem about right or a bit steep for an 8 year old unit. Thanks for your opinion!
08-15-2008, 05:08 AM
I have 1999 Yar-Craft storm 225 yamaha and all to goodies. I aslo bout mine when i was 24. I was paying right around $1000 a year for it. 25 is the golden age when all of your insurance drops, My truck and boat when way down when i turned 25. my boat dropped from $1000 a year to $625. I have my insurance through ski-safe. my rig is insured for $20,000 and as long as I dont let my insurance run out that price does not drop for as long as I own the boat motors and trailor. there is a seperate part of the insurance for all of your gear int the boat they just want a picture and a list of all of your stuff incase you sink it. then they will replace that also, up tp $10,000. that is included in the $625 a year payment.
Rangers on the other hand are treated like the cattlacs in the boat world they seem to hold there resale longer then most boat and cost more then most boats. so that could be part of the reason that his insurance is so high.
08-15-2008, 06:48 AM
I have an 02 Ranger 620 with 225 yamaha that i bought when i was 23 and the premium is only 408 a year and that is with gap and tackle coverage up to $5000. The boat was insured for $28000. To me those premiums your son is paying are outrageous.
08-15-2008, 07:29 AM
That seems a little high. I would let Anglers Advantage give you a quote!
08-15-2008, 07:54 AM
That seems way too high.............check around bet you can cut that premium by almost half!!!
08-15-2008, 07:58 AM
Just bought 03 Ranger 619 insurance was $382 for whole year. I'm a little older (30) but I also live in large city (Omaha) have him check farmers or state farm.
08-15-2008, 08:03 AM
I'm 28 and have a 08 Ranger 621 with a 250 Merc, 9.9 kicker and 15K in extra equipment coverage through Anglers Advantage I pay a tad over $600 per year, with Allstate it was $1200.00!!!!....Get a quote from Anglers Advantage and see what they say.
Does you son own a home and if so have him put it on his homeowners insurance. Also see if you can put it on your homeowners insurance, it might save him some money. My homeowners insurance will let me put my boat on my policy and the rates are great........
08-15-2008, 01:53 PM
I have a 05 621 with a 250 Yamaha. my policy covers everything boat, motors, trailer and all tackle for $450/yr. the insurance is thru FCIS anglers choice in Forest City Iowa. The policy is written thru Progressive.
Hope this helps you.
08-15-2008, 09:29 PM
I'm 25 and have my 2000 619 insured for 20,000 and I pay 25/month (State Farm). He can get it cheaper I'm sure somewhere.
08-15-2008, 09:43 PM
Thanks for all you valuable imput!
08-17-2008, 10:11 AM
I dont know if its high but like anything shop around. Another thing is to look at the deductible. Having a low deductible seems nice but if you start using your insurance for small loses the cost will go up fast. Have him get the highest deductible he can live with. Although he might not have a house but he should have renters insurance and he would have auto insurance. He should see if bundling with the same carrier would provide a discount. Again carry the highest deductible you feel comfortable with. HAve him ask the agent to qoute $100 and $500 deductibles and compare the cost. He will likely find the savings over a couple of years time would cover the higher deductible of he should ever need to file a claim
08-17-2008, 06:45 PM
Don't forget, the boat owners driving record, past insurance claims, credit rating,etc all have an impact on the premium he'll be paying.
08-18-2008, 06:47 AM
I'm 36 but I have the Allstate total replacement package...thats a upgrade from the normal boat insurance and my 1850 Tyee is insurance in total for like 55k which is further broken down by trailer, each motor, boat and fishing equipment for like 500 a year. Watch for the insurances that use the book values because if something ever happens you wont be able to replace it for what they give you. You can also try boatus , which is suppose to have a nice policy as well. If you have bad credit the insurance will skyrocket as well going through regular insurnace companies like allstate, state farm etc.