Just bought Yamaha Jet Boat

[Zarrella]

@MikeyL
Sounds like someone has stock in Progressive.....lol

 

[MikeyL]

LOL .......... I used to, back in 1987 when they were "just emerging" and it was "suggested" I make an investment in the company.
Back then they were just a "specialty" insurance company (exotic cars or high-risk clients (DUI/etc).
I did invest ........ the stock went up ........ I sold at a profit.
In the meantime, the stock continued to climb 20 TIMES (!!!) higher.
So much for superior smarts ......... LOL !
I like Progressive because when it comes time for when you need them, ie a CLAIM< they stand heads and shoulders above their competition in how they handle the claim (ie, read more $$$).
Other than that, @Zarrella, your comment made me chuckle good ! Thanks, Mikey

 

[dansshin]

With all of the members on this site...we should be able to deliver the boat to you. If everyone along the route kicks in for 200 miles we could have it to you in 2 days. Lol

That is great idea. lol.

Call PROGRESSIVE immediately. They have many wonderful features that make them the preferred choice.
Please do this REGARDLESS of who/where/how or whom delivers/picks up/inspects/etc the boat for or with you.
Progressive has excellent damage coverages, and policies, and advantages for their policy Holders.
Please do not let the boat leave where it is currently residing unless YOU, as the new owner, have full and complete insurance coverage on it.
Most likely the policy will also not be "in effect" unless it is paid for first.
Good Luck, Mikey Lulejian

I will call them and ask for a quote. Thanks.

 

[dansshin]

Just curious what do you guys pay for boat insurance and who do you use? For reference indicate size of your boat as I assume this may make a difference.

 

[itsdgm]

I. Used to be with Progressive, switched to Geico a few years ago. Price will vary greatly depending on coverage amount and location. I'm paying around $300/year. There is a topic here on JB.net about insurance though.

 

[itsdgm]

Here's the thread on the insurance discussion. https://jetboaters.net/threads/marine-insurance-who-has-what.4156/

 

[mark_m]

Unfortunately my home/auto insurance company doesn't do boats. I remember this even from first time I owned a boat. Do you have any recommendation on boat insurance?

I just sent him the Paypal payment today so I'll ask him to certify mail the titles, any recipes & tax documents for boat and trailer he may have.

I use State Farm they had me covered before I left with the boat for the trip home. Boatus, progressive, Allstate, etc. I'm sure you can find someone to write you a policy on it. You should seriously consider getting covered to protect your investment.

 

[tdonoughue]

Actually, there is a pretty recent poll in the polls section on that very topic... I have Midland myself, but it was some special deal that the dealer offered at purchase. Very cheap.

 

[Bill D]

Just got Boat US a month ago. I got their "Yacht Package" which is just their way of saying "agreed value policy". $425.00 per year with all the bells and whistles... Towing, roadside assistance, diminishing deductable, uninsured boater, and I maxed out all the liability coverage's.

I looked at Progressive also. It was about $100 more per year. The main thing I liked about the Boat US was the towing offers and it includes a fair amount of area off shore.

The important part is that you get something!

 

[farrelltravis]

For boat insurance, Boat US is what I have. Their rates were unbeatable by any of the other insurers that I could find. Highly recommend them.

 

[Port0222]

@dansshin -- Welcome to the jetboat world. I am new as well (2 months in), but right down the road from you in the Orono area -- Right on Tonka. I am no expert, but this forum is a huge help. Let me know if you need anything locally. Good luck with the shipping and sale.

 

[dansshin]

@dansshin -- Welcome to the jetboat world. I am new as well (2 months in), but right down the road from you in the Orono area -- Right on Tonka. I am no expert, but this forum is a huge help. Let me know if you need anything locally. Good luck with the shipping and sale.

Nice to meet you Port0222 and thank you for the offer.

 

[dansshin]

I went online and requested quote from Geico, Progressive & Boat US. For some reason Boat US wouldn't give me the quote directly (they said they will send an email) but I got ~$450 from Geico & ~$650 from Progressive for what I think is just normal coverage.

 

[MikeyL]

Geiko does a good job. Make sure to ask if they have any "exclusions" on watercraft you need to be aware of.
Good Luck, Mikey Lulejian

 

[farrelltravis]

Boat US does do things a little differently than some of the others. I would be willing to bet waiting on that email would be worth the time. They did a lot better than the others for me. And, the others were quoting on Actual Cash Value whereas with Boat US it was an Agreed Hull Value.

 

[dansshin]

I posted some question about wakeboard and tube gear in below thread. Let me know if you guys have any input on that. I think I have ~$1500 of gear (ropes, wakeboards, 4 people tube, kneeboard, life jackets) in my Amazon cart ready to go if I could get some confirmation that these are appropriate.

https://jetboaters.net/threads/looking-for-wakeboard-gear-for-my-family.6270/

Thank you.

 

[dansshin]

What does "Agreed Hull Value" mean? I believe I saw this with Geico quote and they had my 212x at $44600.

Exact quote for Geico was $412/yr with boat liability of 100k/300k w/ $500 deductible, medical coverage of $1k, trailer coverage of $2.5k w/ $100 deductible. I think it was closer to $450 when I tried increasing the liability.

 

[farrelltravis]

I am not an insurance agent/adjuster/expert....etc

In my own words, actual cash value means that if the insured property were totaled, at that time, whether it be in 6 months, one year, or 5 years - when the accident occurs, they determine the value of the property and then pay off that. For instance, if a total loss happened in the first year, the claim might be worth $30,000. But, say 8 years later, a total loss claim is made, they might only pay say $15,000 since the boat is now 8 years old and not worth the same amount that it was 8 years ago.

With agreed hull value, they do not determine the value of the property once the insurance is in place. Both you and the insurance company agree to a value at the time the policy is put in place. So, when I got Boat US, I went with $40,000 worth of agreed hull value insurance. Now that my boat is 6 years old, it is not worth $40,000. But, since I have an agreed hull value, if a total loss were to occur, they would still pay $40,000. The actual worth of the boat, even 6 years later, is not a factor.

 

[dansshin]

Boat US does do things a little differently than some of the others. I would be willing to bet waiting on that email would be worth the time. They did a lot better than the others for me. And, the others were quoting on Actual Cash Value whereas with Boat US it was an Agreed Hull Value.

Thank you. That's helpful.

 

[farrelltravis]

Thank you. That's helpful.

No problem at all. In my opinion an agreed hull value policy is apples and oranges from an actual cash value policy.