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09-07-2019 05:19 PM
Misdirection
Quote:
Originally Posted by fastarget View Post
ok, this is what I was told the reasons for high premium vs cheap boat ins.



Liability, your current coverage is $500,000. This is in case someone on the boat is injured, pays for negligence on your part if something happens.



Medical expense is $5,000 .



Emergency Road Side Service and on water service, this covers towing your boat in and related costs.

Personal Effects, $5,000 coverage, such as cameras, fishing equipment such as tackle and tackle boxes, clothes, cell phones etc.

Watercraft equipment, $20,000 coverage, this covers the trailer, trolling motors, life jackets, oars, fish finders, anchors, items related to the boat itself.



Fuel or oil clean up, your policy has $10,000 per occurrence, $20,000 total, this will cover cleanup costs associated with damage to your boat, boat sinking or spilling these in the water and the parks service bills you for the cleanup.



Another important coverage is repair cost that is included on your policy. If something happens, we will pay for replacing that item, not depreciating.

Uninsured and underinsured watercraft, this is basically like underinsured and uninsured coverage on auto insurance. If you or anyone on your boat is injured by someone on another boat, this covers you and your passengers up to $500,000 for bodily injury. I know most boat insurance will not cover this.



So, who carries any of these coverages? or are most people unaware that they maybe underinsured?
I'm insured thru Bob (InsurancePro) and have everything outlined above.

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09-07-2019 04:05 PM
RMBin303 My liability coverage is a little lower than you mention but I also have a $1,000,000 umbrella coverage.

I have all the other coverages you mention. I listed my premium above.


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09-07-2019 09:39 AM
fastarget ok, this is what I was told the reasons for high premium vs cheap boat ins.

Liability, your current coverage is $500,000. This is in case someone on the boat is injured, pays for negligence on your part if something happens.

Medical expense is $5,000 .

Emergency Road Side Service and on water service, this covers towing your boat in and related costs.
Personal Effects, $5,000 coverage, such as cameras, fishing equipment such as tackle and tackle boxes, clothes, cell phones etc.
Watercraft equipment, $20,000 coverage, this covers the trailer, trolling motors, life jackets, oars, fish finders, anchors, items related to the boat itself.

Fuel or oil clean up, your policy has $10,000 per occurrence, $20,000 total, this will cover cleanup costs associated with damage to your boat, boat sinking or spilling these in the water and the parks service bills you for the cleanup.

Another important coverage is repair cost that is included on your policy. If something happens, we will pay for replacing that item, not depreciating.
Uninsured and underinsured watercraft, this is basically like underinsured and uninsured coverage on auto insurance. If you or anyone on your boat is injured by someone on another boat, this covers you and your passengers up to $500,000 for bodily injury. I know most boat insurance will not cover this.

So, who carries any of these coverages? or are most people unaware that they maybe underinsured?
08-29-2019 01:14 PM
fastarget Thank you all for your replies, very helpful, will begin making phone calls.
08-13-2019 09:19 PM
Boondock
Quote:
Originally Posted by Insurancepro View Post
I have been able to help a lot of the members to better understand marine insurance. We only do watercraft. Just give me a call and we can go over your needs. Thank Bob Luellen 517-627-8080
Yep
Use Bob and have had great service for my one claim.

Pay 240 a year I think. Agreed value of 30k
08-13-2019 08:33 PM
RMBin303 Iím with Progressive and have been for years.

My 2006 Ranger Reata has 300k/100k coverage with a stated value of $20,000 for the boat and I pay $119 a year.

I also have a surf boat with the same liability coverage and $125,000 replacement coverage and pay $737/year for it.

I use Welsh Insurance in Fort Collins for all my policies and they take very good care of me.


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08-13-2019 04:35 PM
Insurancepro
Insurance

I have been able to help a lot of the members to better understand marine insurance. We only do watercraft. Just give me a call and we can go over your needs. Thank Bob Luellen 517-627-8080
08-13-2019 11:54 AM
fastarget
Boat Ins in Colorado

Looking for another company in Co. Previously had a Ranger 1850LS, well insured for 3-400$, traded onto a 2019 620FS, paid a difference on the policy that was nominal, took the AM FAM a few days to give me an estimate after asking tons of questions.

After 6 month, I am receiving a policy renewal and it is a bit over 1000 $ to insure the 620.

Can someone chime in with what they pay, is this reasonable, or should I start looking at USBOAT or other insurance company??? Thank you.

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