Do you have insurance on your boat?

[530RL]

Honestly will anyone have the balls to say their shit isnt insured???

I have liability, medical, uninsured and underinsured as underlying coverage and an umbrella on top. In essence coverage if I cause an accident that affects someone else or someone else’s causes an accident that affects me.

I don’t carry what one would consider hull or coverage to insure the loss of the boat, car or other vehicle/aircraft if I am at fault.

I choose to self insure that.

 

[Melloyellovector]

My conquest wasn’t insured. it was to old with way to much power. Survey done showed replacement value 250k plus. I wanted agreed value at 100k. Only 1 company was willing to do policy and wanted nearly 10k a year. Cheaper for me to put that in the bank and eat it if a loss

My vector is an 89, with over 700hp currently. Over 150k worth of receipts before I stopped adding. Between motor, drive, glass work, gel, flooring, rigging, 1 off parts, the list goes on. Not a company out there that would touch an agreed value that high and a boat that old. They want agreed value at 30k. Uhhhh my trailer alone cost 15k. The motor 40k+. Got creative last year with a way to get it covered. But again cost is awfully high. So currently not insured either

Moral of the story, steer clear from me on the water. I will literally hurt you for hitting my stuff.

my tritoon is a no brainer so yes it’s insured.

 

[Bajastu]

Question for the insurance folks, is agreed value really agreed value? Also wondering if anybody’s ever had agreed value paid off after a total loss?

Not trying to start a controversy I just don’t trust insurance companies.

When my Schiada was stolen I had agreed value and it was paid out. But that value was low for what it was.

My 2009 Nordic with 145 hours has stated value but that number is low compared to what it’s worth. Insurance companies are having a hard time with boat values right now and it’s a battle to agree on the stated value.

 

[Nanu/Nanu]

Question for the insurance folks, is agreed value really agreed value? Also wondering if anybody’s ever had agreed value paid off after a total loss?

Not trying to start a controversy I just don’t trust insurance companies.

I have progressive insurance on my boat and toy hauler. I always just set the agreed value as my purchase price. My toy hauler had a small roof issue this last fall. Progressive sent a rep out to review it. My experience was great. He did his estimate and told me what it would cost to repair. Couple days later they called and told us if we kept the trailer it was gonna pay this or if we gave up the trailer to progressive it would pay this which is we bought the trailer for. We decided to keep it and go through the salvage title process with ADOT. We got half our purchase price basically for keeping the trailer after our total loss. I was honestly surprised but it worked out for us. And progressive is still insuring the toy hauler, i cant remember what i had to change for coverage. I was packing for a dune trip and remembered it was up for renewal. So ill have to look back into it.

Long story short, i dont have expensive things but they are paid off and my agreed value is honest and fair and fathomable.

I think people can have issues with insurance companies when agreed values although fair and honest are not fathomable. I find when humans can not comprehend a high value placed on something they take it almost personal and fight tooth nail to de value it instead of seeking answers to find out why the value is so high.

Hope that helps.

 

[Nanu/Nanu]

Honestly will anyone have the balls to say their shit isnt insured???

My stuff is insured however i will say i contemplate getting rid of it all the time. When needed though it benefitted me... So i cant complain to much but yes i hate paying for insurance.

 

[boatnam2]

I think a better question is why would you not have insurance? We could learn something from the ones that don't on why that's a good idea.

 

[Jay Dub]

Question for the insurance folks, is agreed value really agreed value? Also wondering if anybody’s ever had agreed value paid off after a total loss?

Not trying to start a controversy I just don’t trust insurance companies.

our starter boat was a 20 foot Crownline. The engine and o/d were stolen while being serviced at a shop in LHC. Boat was totaled and insurance paid the stated/agreed value. Gieco/Boats US. Process was not smooth. I feel the insurer slow-walked the claim. Interestingly, the trailer was not totaled with the boat. I got the trailer back and sold it to the person who bought the boat at liquidation auction. $1500 for the trailer

 

[DRYHEAT]

I think a better question is why would you not have insurance? We could learn something from the ones that don't on why that's a good idea.

I don’t know that I would say that it’s a good idea, I think having liability to cover your ass is the least someone should have.

Currently, I don’t have insurance on either of my boats because I’ve been taking a boating hiatus. My boats are stored at home so the only thing I really worry about is fire and if that should happen, I could absorb the loss.

 

[Ricks raft]

So for those that are saying they don’t have insurance, are you saying just no comprehensive, or no coverage? If not how would you handle the liability if something should happen? If you have Donald Trump kinda money I can see self insuring, but any kind of injury, they’ll come after 1-2 million quickly.
We have State Farm, they require insurance on everything for our umbrella policy. We even insure our old quads. Stated value on motorhome, boat, quads. 2mil umbrella. It helps all our shit is old….

 

[FROGMAN524]

Both my boats paid for 28 magic deck and 29 Nordic deck. Both insured. Payment or not insurance is mandatory.

Ballin!

 

[28Eliminator]

Anybody else’s boat premiums go DOWN?

Just got my renewal and it’s over $500 less for the year than last year??? .

How is this even possible? I mean, I’m not complaining, but seems very odd.

 

[MOUZER]

Well I don't have insurance on my boat but do have insurance if I hit or hurt someone with it $100 year liability only good coverage they won't insure my boat ..

 

[Andy B.]

Anybody else’s boat premiums go DOWN?

Just got my renewal and it’s over $500 less for the year than last year??? .

How is this even possible? I mean, I’m not complaining, but seems very odd.

Pay it and run!!

 

[RichL]

Anybody else’s boat premiums go DOWN?

Just got my renewal and it’s over $500 less for the year than last year??? .

How is this even possible? I mean, I’m not complaining, but seems very odd.

Compare your coverage levels to last year. Sounds like something changed or was omitted.

 

[Desert Whaler]

Quick boat insurance story / lesson learned the hard way. (I'll spare you the long version)

I called after hours to renew my Geico insurance policy . . . too late, no dice.
Went fishing the next day . . . got into a freak accident and ended up flipping my boat in the surf and it ended up on the rocks at Point Fermin.

Lifeguards paddle out and say, 'No prob, We can flip it' . . . but their boss shows up in the boat and says, 'Hands off too sketchy'.

Vessel Assist (Boat US now) shows up, . . they send a swimmer in with a line, . . a quick tug and it's right side up . . . easy peazy.

Coast Guard gives me a lift in their truck back to the ramp.

Vessel Assist shows up w/ my rig. . . I back in the trailer and he's got paper work for me.

I tell him I'm a member . . . "Sorry Bud, we don't cover 'Hard Agrounds', but your insurance will" . . . . FUUUUUUUUUU . . . . . .

$3600.OO to tow a 15' Whaler less than 5 miles.

I tell him, 'TheF'ing boats isn't even worth that' ! . . . He says 'Sorry, you can always let it go to impound then buy it back at auction'.

Grrrrrrr . . . . all my shit is on the bottom in the surf, including my wallet . . . . call Dad, "Hey, I need $3600.00" . . . that went over like a lead balloon.

ALWAYS have boat insurance . . . it almost guarantees that you'll. never need it . . . but without it, you're f'ed.

 

[28Eliminator]

Compare your coverage levels to last year. Sounds like something changed or was omitted.

That was the first thing I did obviously. All coverages are the same. Everything on the declaration page is identical. Stated value is still the same.

Coverage A $400 cheaper

Personal liability $100 less

 

[RichL]

That was the first thing I did obviously. All coverages are the same. Everything on the declaration page is identical. Stated value is still the same.

Coverage A $400 cheaper

Personal liability $100 less