new boat insurance blues

[Westerneyes]

I have decided on a Lund Fury XL 1625 with a merc 50 and am curious as to what a good coverage package might cost. Replacement of gear, electronics, deductibles, road hazards, uninsured, motor damage, loss of boat, theft, etc. is giving me the blues! Too many options? Or is there something out there that is user friendly to understand? The idea is that the fish get hooked, not me! Any input will be greatly appreciated.

[brad34]

Boat insurance is generally pretty cheap. My policy has everything you mentioned, but my boat is a little larger and also has a 50 hp motor. I pay $164 for the whole year. Yours will probably be a bit higher since it's a brand new boat. Of course it also depends on how much coverage you get for liability and personal property as well.

If you can afford to spend ~$16k on a boat, paying for insurance shouldn't be a problem.

[Westerneyes]

I did receive a quote for $168 a year which has , I think, a reasonable deductible and covers everything aforementioned and then some. Just uneasy about the oversights that can be missed. My vehicle and home owner insurance company covered my first boat and left quite a bit out. Since this is a new, being made as we speak boat, I don't want to miss any detail. Thank you for your reply

[KHedquist]

Originally Posted by Westerneyes

I have decided on a Lund Fury XL 1625 with a merc 50 and am curious as to what a good coverage package might cost. Replacement of gear, electronics, deductibles, road hazards, uninsured, motor damage, loss of boat, theft, etc. is giving me the blues! Too many options? Or is there something out there that is user friendly to understand? The idea is that the fish get hooked, not me! Any input will be greatly appreciated.

Go to the top of this thread and contact Bob with Worldwide Ins Bob specializes in marine ins.

[Johnboy]

Be sure to determine if you want to insure your boat for an agreed value or actual cash value. That can make huge difference if you have to replace the boat in a claim.

[kliph]

It's a roll of the dice.
But the best is FULL REPLACEMENT WITHOUT DEPRECIATION insurance.
I know, check here:
https://www.walleyecentral.com/forums...ighlight=kliph

[Johnboy]

kliph; Would you happen to know what the FULL REPLACEMENT WITHOUT DEPRECIATION cost you above and beyond what agreed value or fair market price insurance would have ? I really need to remove my boat from my homeowners policy. Until today I didn't even know that kind of insurance is available.

[kliph]

Originally Posted by Johnboy

kliph; Would you happen to know what the FULL REPLACEMENT WITHOUT DEPRECIATION cost you above and beyond what agreed value or fair market price insurance would have ? I really need to remove my boat from my homeowners policy. Until today I didn't even know that kind of insurance is available.

I am no expert on insurance.
I just went over my boat policy, and this is what I get...
It is a rider on my home owners policy, along with three cars.

The boat policy alone covers liability and replacement cost for
the boat and the trailer. With a $500 deducible.
The cost is more than I thought at $812 a year.
With a max pay out of $40,000.
I will look into this and see if I can lower the cost.
Besides, the boat cost was closer to $45,000.
Give Bob a call at with Worldwide Ins.
(Check here on the forum list.)
and see what he says.
Let us know the cost or PM me the cost. I would like to know.
I have Hanover Ins.
[PS. the cars are $1600 and the home is $1200.
I will look into this also. Way too much! I think.]

[Johnboy]

Thanks for the information kliph. $812 a year seems awful expensive. I will give Bob a call when I get time. He sent me a proposal a while ago on coverage compatible to what I now have and he was about the same. I am paying $156.00 a year on my homeowners rider. But I think the coverage is lacking and that is why I am reading all I can here.