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| Who do you guys use for the insurance on your boat and your tow vehicle? Are you better off to use the same company? Do you carry any specific riders for fishing, or equipment? What have you overlooked in the past that you regretted not having when you needed it? Thanks
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Posts: 364
Location: Kentucky | A lot of people use Angler's Insurance, http://www.anglersadvantageins.com/home02.aspx
They seem like a good company and gave me a good quote, but I stayed with my Farm Bureau (house, auto, home) when they matched all the details.
I have a rider for the trolling motor, and fish finders, but probably not necessary. Contents coverage is important in case your stuff is stolen, so check the details. My home owners coverage extends to the boat in terms of contents loss. Towing is a nice clause. After some argument with my company, they covered my boat's ride home 80 miles on a flatbed after axle failure. Some towing clauses only cover "on the water" incidents. |
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Posts: 149
| Most homeowners and auto policies allow for a boat to be included as a rider very cheaply, probably in the neighborhood of a couple hundred bucks a year tops.
You really only need a seperate boat policy if you use it for profit (as a guide, tournament angler, etc). If that's the case, you'll be spending close to $1,000 per year. Obviously prices are widly different depending on company, deductable, amount of coverage, etc. |
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Posts: 191
Location: WV | Progressive
you can add valuable items in any amount you want, for graphs, rods, reels, lures |
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| American Family for me...just make sure you have a list of all your electronics, trolling motor etc etc...with pictures would help too..just in case... |
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Posts: 786
Location: Minnesota | State Farm. I have ran though a few senarios with my agent and basically mine is what I call "MORON INSURANCE". I can hit a rock, sink my boat with all gear and after my $500 deductible all is taken care of. I think my max is $50k payout for boat and equipment which is far above the ~$20k in boat+gear I own. |
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Posts: 2089
| As a full time Agent in the insurance industry, I deal with this stuff on a daily basis.Having multiple vehicles with one carrier will / should qualify you for discounts.Replacement value or ACV?Different companies will have different options for covering equipment.If I understand this correctly, are you saying you have 50K in coverage on 20K of personal property?If this is the case, it appears you may be over-insured.Insuring equipment is only part of the equation.Make very sure that your LIABILITY limits are in line and will be able to protect your assets should something horrible happen, your fault or not.Court is no fun.Also, consider an umbrella policy, which is relatively cheap and will cover you past regular liability limits.Most umbrella policies start at 1mil. Hope this helps.Call or pm with any specifics I may be able to address. Steve |
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| Just thought I'd help out a little bit. I’ve been a claims adjuster for about 5 years and picked up a few things regarding insurance.
Don't listen to what esoxcrp said (sorry buddy, hate to point your post out). It is highly likely you DO DO DO DO need boat insurance...don't just guess that your boat will be covered by your homeowners, because most likely it will not.
Most homeowners policies allow for coverage for a ONLY a boat that's 14 feet or less in length with a 25HP or less motor. Of course, here's the kicker...this is for ONLY liability coverage (i.e. you hit another boat or someone in your boat falls overboard without a life jacket, etc.). There would be very very very limited physical damage coverage (the equivalent of comp/collision) on the boat and whether or not they would be covered would depend highly on the circumstances surrounding the damages. On top of that, when a claim occurs the premiums for a homeowners policy will go up way way way more than the premiums of a specific watercraft policy.
Now, you may be able to purchase endorsements to your policy to cover larger boats or higher HP motors (even though it is not very likely), but to do so would be taking your chances. There's a reason watercraft insurance exists, and a reason for homeowners too...they are each intended to cover specific types of losses that insurance companies can reasonably predict...and specific means specific. If any one exclusion of the policy applies, your claim will be denied due to no coverage. Homeowners policies exclude lots of types of losses that wouldn't normally occur in a home. Basically, if your boat is worth something, or greater than 14 feet, or has more than 25 HP, get a specific watercraft policy.
What a homeowner’s policy WILL cover is personal property that is damaged, stolen, or whatever while it is INSIDE a boat (not the boat itself). This is true regardless of the size of a boat....we're really talking about personal property rather than the actual boat itself...for the same reason a homeowners will cover CD's stolen from a car before the auto insurance will...
The best option for anyone is to get marine watercraft insurance from a company that specializes in it. Their adjusters will be familiar with the types of boats, with the types of motors, with the types of trailers, with the functions...basically, they will be better able to handle your claims if one arises. I want my claims adjuster to know the difference between a 2-stroke motor and a 4-stroke and a Honda and a Suzuki. A lot of the larger personal insurers might not have as great of service for boats...State Farm (just an example) might not have local adjusters that handle boats...or might not have specific people that handle those special types of claims…this means that you might have someone that’s never handled a boat claim handle yours…do you want that???
Basically, before I purchase and insurance policy, I'd want to know what coverages are offered (how well I'd be protected), how many watercrafts the insurance company insures and whether they have specific watercraft claims adjusters, and lastly I'd want to know about price.
Just my advice...not just something to consider if you have a Ranger 620V...but something to consider if you have a Sea Nymph.
Halfpint
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