Insurance

[rchanner]

I just renewed my insurance through Boat US.....Just thought I'd mention it, because when I switched from Nationwide last year, I saved 40% by going with Boat US (for better coverage) and again this year, nobody else I got quotes from was close.

For any of you guys that are close to renewing, they might be worth a look---------> Boat US Quotes

[rchanner]

Correction to the above: My old insurance was with Progressive (written through USAA), and NOT Nationwide.

Wiley- Why does the edit option go away after an hour or so?

[stevek185]

I went with BoatUS also. Very inexpensive with hull value replacement.

[KillerB]

I was with BoatUS for more than 10 years with no claims. They tripled my rates after a couple of the Florida hurricanes where they had big loses even though my boating area is 1000 miles away. I switched to Progressive at the time which was half the cost of BoatUS.

I will try them again but one thing I already don't like. Their "online" quote is not online. They never give you an immediate quote even though they make it sound like they will. It always goes to a human and you get an answer in a day or two.

I'll let you know how the rate compares to Progressive.

[pmagrady]

I just renewed my insurance through Boat US.....Just thought I'd mention it, because when I switched from Nationwide last year, I saved 40% by going with Boat US (for better coverage) and again this year, nobody else I got quotes from was close.

For any of you guys that are close to renewing, they might be worth a look---------> Boat US Quotes

Did you buy the Agreed Hull Value Policy (Yacht Policy, Angler’s Best ), or the Actual Cash Value Policy (Boat Saver, PWC and Angler Boat Saver)?

[KillerB]

Progressive: $232

BoatUS: $497

20' Center Console. Near coastal, midatlantic. $25,000 ACV policy.

BoatUS remains sky high for me.

[rchanner]

Did you buy the Agreed Hull Value Policy (Yacht Policy, Angler’s Best ), or the Actual Cash Value Policy (Boat Saver, PWC and Angler Boat Saver)?

I bought the Angler's Best policy, and the agreed value I used is the purchase price of the boat (when I bought it) plus accessories. It also includes $5k coverage for my fishing gear.

My policy w/ progressive was $549/year (it was ACV w/ no additional coverage for gear)

My policy w/ Boat US is $348/year

[abear]

I just renewed my insurance through Boat US.....Just thought I'd mention it, because when I switched from Nationwide last year, I saved 40% by going with Boat US (for better coverage) and again this year, nobody else I got quotes from was close.

For any of you guys that are close to renewing, they might be worth a look---------> Boat US Quotes

Cheaper sometimes is not better, did you get replacement insurance? If you did not you may want to check into this? Reson: ask people what happened when they lost their boats during IKE, if they had replacement ins. they came out OK, if they did not they lost big time!

[tprice]

I must be missing something on insurance, my boat is just added on to my homeowners with Southern Farm Bureau and costs me about an extra $200 a year on my homeowners.

My tackle is covered under homeowners as well

Only draw back to mine is that I am limited to 50 miles or less offshore which is about 2-3 times as far as I ever go

[pmagrady]

Cheaper sometimes is not better, did you get replacement insurance? If you did not you may want to check into this? Reson: ask people what happened when they lost their boats during IKE, if they had replacement ins. they came out OK, if they did not they lost big time!

Agreed Value Policies = A Total Loss is paid bases on the Policy Value at the time the policy is issued. If you insure a boat for $100,000, a total loss 4 years later will be covered for $100,000.

Actual Cash Value Policies = A Total Loss is paid based on the value of the boat at the time of the loss. In other words, the boat value continues to depreciate over time. If you insure a boat for $100,000 originally, a total loss 4 years later will be covered for $60,000, assuming that is what the boat is worth in the market place. The insurance company will use the NADA Guide, or their own data to determine market value.

Replacement = Actual Cash Value

Agreed Value Policies cost more and they are usually issued after a survey, unless the boat is a newer boat.