Boat Ins in Colorado

[fastarget]

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.

[Insurancepro]

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

[RMBin303]

I’m 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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[Boondock]

Originally Posted by Insurancepro

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

[fastarget]

Thank you all for your replies, very helpful, will begin making phone calls.

[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?

[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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[Misdirection]

Originally Posted by 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?

I'm insured thru Bob (InsurancePro) and have everything outlined above.

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