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Boat insurance


gcam4
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In an effort to get a new policy on the boat, I got two quotes from our agent. One from Allstate and the other from Erie. We have vehicle and home with erie, but they were ~150/year more expensive. The other thing that I found odd was that they add a 40% surcharge because they informed me that our boat goes over 50mph. I let them know that that speed is not possible with our boat and they said they still couldn't remove the surcharge. I would go with Allstate, but it appears our agent stopped offering it. So, I just wonder what everyone else is using or what others have observed with insurance.
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Over 50mph, ha. What is Erie thinking? It takes a heck of a wrenchhead to get a DD to break 48mph, and that’s with the old flat bottoms from <1970’s. I was with Ski Safe. Wasn’t the happiest with them due to “agreed upon value” was only good for first 2 years. I felt all my quotes were too high, ~$450 per year. What ballpark are others paying?
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Allstate quoted 395/year, Erie is 471/year, I was mistaken on the 150/year difference. For reference this is for a 95 Nautique with 15k value and a $250 deductible. I'm going to have them requote with a $1k deductible. I'll check out Skisafe
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I shopped around for insurance last year when I bought my boat, I ended up with Progressive. As I was boat shopping, I got a quote for an 09 196, I eventually bought a 08 196. Curiously the rate for the 08 was higher because it was 10+ years old.
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Global Marine also has good rates. Generally comparable to Ski Safe. If you plan (or want the flexibility) to use your boat for some form of USAWS sanctioned clinic/practice/tournament, Global or Ski Safe are the way to go. All the others want an exorbitant amount of money to modify the "personal use only" provisions.
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I have had Ski Safe for at least 20 years. Lost one boat to fire while in storage. I was in a panic to how much was covered. Full coverage for the what it was insured for plus 1000 for the trailer. Five minutes into the phone call the rep reassured me of full coverage coming my way - He said "relax your covered, go shopping for a new one". I will not change my insurance after that. And my rates never increased.
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Go with Ski Safe. They specialize in Boat Insurance and for todays inboard ski boats with ZO etc and all the computerized engine management systems they have all the coverages you need. Your basic State Farm, Allstate companies may offer the coverage but may not come through in the event of a loss. I have my boat with them and I am in the insurance business. Not trying to sell them but they are the best choice.
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I just got a quote for Ski Safe, just $5($269) more than Progressive for equivalent coverage. Freeze coverage is offered for an additional fee. Going to investigate this further when its time for my renewal in May.
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