Insurance thread

[Kevin107]

No, thank goodness. I mostly got it for the cheap liability, I had someone smash their finger between my boat and the dock and I didn't have any insurance. It was an ex girlfriend's mom (we broke up a month or so after the accident). I'm really lucky they didn't sue.

The reason I asked is because I've never heard of this company. Anyone else use them?
I think we should make everyone sign a waiver when they get on the boat. LOL

 

[MOA_Chaser]

The reason I asked is bOKause I've never heard of this company. Anyone else use them?
I think we should make everyone sign a waiver when they get on the boat. LOL

When I signed up the reviews were good; again I was mostly concerned with liability because of what happened to me. This is a cash-value policy, but I got a great deal on my boat so I was OK with that. Aren't these boats almost unsinkable anyways? I always boat inland, in the same area with lots of help around so i'm not too worried about losing my boat...

 

[davel501]

When I signed up the reviews were good; again I was mostly concerned with liability because of what happened to me. This is a cash-value policy, but I got a great deal on my boat so I was OK with that. Aren't these boats almost unsinkable anyways? I always boat inland, in the same area with lots of help around so i'm not too worried about losing my boat...

Yep, the great grandson of the guy that designed the titanic was brought in to consult at Yamaha.

 

[xoomer]

I posted earlier that my umbrella insurance company, the Hartford, would not insure my jet boats under my umbrella for some reason. So, since I have BoatUS for my SX240 insurance, I called them yesterday to raise my liability from $300k to $2,000k like I have on my umbrella. However, they said their limit was $500k so that is what I had to take. It only cost an additional $40 but I think I will have to shop around for a different company since it appears I am paying more than everyone else for boat insurance and I can't get the liability coverage I want from BoatUS.

 

[MOA_Chaser]

Yep, the great grandson of the guy that designed the titanic was brought in to consult at Yamaha.

I know nothing is absolute, but I thought these things have foam or something in them that makes sinking them extremely unlikely...

 

[txav8r]

Maybe this is a good thread. If it is indeed true you can buy an umbrella that covers your home, vehicles, and toys, even though they may not be covered by the same underwriters on each one, then that is worth looking into. But I fear that the way they package goods and services today, without the "multi policy" coverage, your going to be spending more overall. Someone post up the company your finding a liability umbrella that will cover excess beyond your property underwritten by other carriers. I may do some shopping myself.

 

[Joshb723]

Mel, honestly there's too many to list. "The big name carriers" all want you to have their products (and they push the whole multipolicy discount thing)if you want their umbrella, but there are plenty of options. usli will do it and they write in all 50 states. Ask any independent agent and they will have a ton of options for you. The multiline discounts they offer are convenient but sometimes a-la-carte can be cheaper. I'm an independent agent and there are times when bundling the policies with one carrier is better for a client, but there are also times it's better to piece with different carriers.

 

[Zarrella]

@Joshb723 Does Safeco insure boats? I am thinking of dumping Progressive and going with Boat US

 

[Joshb723]

@Joshb723 Does Safeco insure boats? I am thinking of dumping Progressive and going with Boat US

Yes, safeco does insure boats. They are a great company too. I have my auto with them.

 

[steined]

I posted earlier that my umbrella insurance company, the Hartford, would not insure my jet boats under my umbrella for some reason. So, since I have BoatUS for my SX240 insurance, I called them yesterday to raise my liability from $300k to $2,000k like I have on my umbrella. However, they said their limit was $500k so that is what I had to take. It only cost an additional $40 but I think I will have to shop around for a different company since it appears I am paying more than everyone else for boat insurance and I can't get the liability coverage I want from BoatUS.

Hartford told me the same thing, they won't insure mine either, in fact, they refused to even cover my boat. Boat US was 2x more expensive than the policy I have now with Travelers (boat only). I'm going to call State Farm today about a boat only policy and see how that goes.

 

[Volffas]

I have Progressive for my cars and boat. I have been with Progressive since 2001. I shopped around a little last year and no one could touch what I am paying with Progressive. I also shopped boat insurance before we got our boat and they were still much cheaper when comparing apples to apples policies.

 

[davel501]

I have Progressive for my cars and boat. I have been with Progressive since 2001. I shopped around a little last year and no one could touch what I am paying with Progressive. I also shopped boat insurance before we got our boat and they were still much cheaper when comparing apples to apples policies.

I actually left Progressive a few months ago because of their reputation for not paying. With BoatUS now and spending about 2x as much when you include the membership with towing but now have agreed upon value and freeze protection that I did not have with Progressive. I still have Progressive for my cars but they had a reputation of not paying on boats.

 

[Tollus]

Progressive in VA is crazy expensive for some reason on the Yamahas. I used them on my old boat and they were the cheapest. On the Yamaha, for the same coverage, I went from $350/year to over $1200/year. I switched to BoatUS and pay just under $500/year.

I'd be interested to see who others in VA are using and if you've experienced the same thing with Progressive.

 

[BoaterGuy]

Progressive in VA is crazy expensive for some reason on the Yamahas. I used them on my old boat and they were the cheapest. On the Yamaha, for the same coverage, I went from $350/year to over $1200/year. I switched to BoatUS and pay just under $500/year.

I'd be interested to see who others in VA are using and if you've experienced the same thing with Progressive.

Progressive was crazy for me as well... they wanted $1100 when I am paying ~$400 for my current insurance with the same limits. I'm in PA and boat in MD.

 

[Zarrella]

I must be missing something. Progressive is charging me $650 a year. BoatUS quoted me $327 a year for slightly better coverage. It appears most people are finding BoatUS to be more expensive?

 

[xoomer]

Prices seem to be all over the place. I'm paying Progressive $459 for my 2002 LX 2000--coverage for only $6,500; and BoatUS $950 for my 2014 SX240 coverage of over $50,000. I'm going to do some shipping around when these policies are due again.

 

[Shuck Water]

Progressive is also crazy expensive in Texas (about $1,200). They were among the cheapest when I had the Four Winns, but it tripled in price when I bought the Yamaha. Geico was around $600 when I priced it out this past year, but I am still with One Beacon and they priced out at $567 per year with $50k in boat value and 300/300 in coverage. I heard progressive's formulas for calculating coverage gets messed up due to twin engines.

 

[jetboater4life]

I must have missed this thread back in march but I find it interesting.
Here is my insurance through Progressive. It seems quite a bit less than most, but that's probably due to my location. I have an umbrella policy that covers everything over 300k up to a couple mil with Amica. All the rest of my home and auto is with Amica. I recently switched home/auto from Geico/Travelers. The reason I didn't go with Amica for boat is because they wouldn't be able to classify the jet boat properly so they suggested I look elsewhere. The amount below is what I paid last September in 2013. They include a disappearing deductible option (which costs me nothing) and since I have been with Progressive for 4+ years (including my last boat) my deductible is now zero. I just submitted a claim for the stiches I recieved from my surfboard last summer. They said it would come out of my Waterskier's Med Pay and would not increase my rates. They did say that it would reset my decreasing deducible which will go back to 1k. We'll see how it all pans out. I may increase my Waterskiers' Med pay to the max of 10,000 if claims on it don't impact my policy much.

 

[Julian]

WHERE you boat plays a BIG role in how much you pay. Ocean boaters pay a lot more than inland lakers.

 

[Kevin107]

Geico was the cheapest for me when I had the bayliner. But with the yamaha, I had to switch over to traveler for the same price but better coverage. I do like Geico though, very easy to deal with. Hopefully, traveler will be that way too. Better yet, lets not ever have to find out if they are good with claims or not. Lol