medmart Posted January 16, 2008 Report Share Posted January 16, 2008 I was just wondering how much i should be paying for boat insurance i called my insurance company today and they want $477 a year is that about right or is that to much the boat is 2008 16 ft with a 50 thanks rob Link to comment Share on other sites More sharing options...
TroutnMuskieHunter Posted January 16, 2008 Report Share Posted January 16, 2008 Rob...I have a 20' pontoon with a 40HP that is 13 yrs old and i'm paying $270/yr..it's covered under my house policy.... Steve Link to comment Share on other sites More sharing options...
Sinker Posted January 16, 2008 Report Share Posted January 16, 2008 I pay around $200 for my 16 ft, with a 40. Mine isn't worth what your new one is though....... Sinker Link to comment Share on other sites More sharing options...
steelhedrmatt Posted January 16, 2008 Report Share Posted January 16, 2008 (edited) go with an insurance company that specializes in marine insurance. I use Elco marin experts, from Barrie. about $400/year full comprehensive with 0 depreciation on loss part/total for 10 years. I don't pretend to know lots about insurance, but I shopped around, and they seemed to have the best policy. I have 2007 legend, with 25 4stroke efi Edited January 16, 2008 by steelhedrmatt Link to comment Share on other sites More sharing options...
Gerritt Posted January 16, 2008 Report Share Posted January 16, 2008 Rob, Who are you with? and what are they giving you... does it include all your toys, rods, tackle etc? mine is 273 for year,,, My boat is new, my trailer is new, my motor is gently used...@ 40 HP but has been bored to 50-55hp thats covers everything including all my toys and give me 1,000,000.00 my liability should i hit a yacht or something 477 seems like alot.. to me... mind id like you tell be who that figure was from? i got my best price for Home, Auto and my toys through them.. Call Certias! Cant hurt right? <-- always served my house, 2 cars N truck.. and now my boat... never hurts to ask right? but I bet Cirtas WILL BE CHEAPER! Use me as a reference if neeed be.. pm me details. G G Link to comment Share on other sites More sharing options...
Guest skeeter99 Posted January 16, 2008 Report Share Posted January 16, 2008 generally the ones that are cheaper give you a depreciated value on your boat and gear in the case of accident or stolen your agent will say yes u are covered for the value **read the fine print** $400 is not bad for a new 2008 if it is full replacement value insurance my 2000 skeeter 17 ft bass boat 90 hp merc paid $16800 including taxes, 1 million liability $5400 on fishing gear rods etc $383 a year if the boat goes missing i get $16800 plus $5400 *no depreciated value* if I had the cheaper insurance my agent said i would get around $7500 total not even enough for a new rig, and the cost would be $213 if I remember correctly usually with replacement insurance *at least mine* everything they want itemized and pictures taken and anything new I must give pictures to agent to prove I own them for the boat Link to comment Share on other sites More sharing options...
2 tone z71 Posted January 16, 2008 Report Share Posted January 16, 2008 hmmmm was quoted a touch under 500 yr last yr this yr ive gotta step up and insure thanks for the tips and contacts fellas Link to comment Share on other sites More sharing options...
mcallister.grant Posted January 16, 2008 Report Share Posted January 16, 2008 Hello, Just to clarify things here.... All of the posts pertaining to replacement cost were correct. That price is probably based on "Replacement cost", Removal of derpreciation (for 2 years), and gear and equipment(with a limit attached). If it is not, I suggest calling another company that specializes in Marine insurance. As a footnote, I have my own insurance agency and I do this type of thing all the time. Oh yeah.... As was mentioned... READ THE FINE PRINT!!! Link to comment Share on other sites More sharing options...
motv8tr Posted January 16, 2008 Report Share Posted January 16, 2008 I'm still trying to decide if I will insure or not...if anything it would be for liability as i don't think I'd get much back after the deductible. Was going to put it as a rider on my house policy...was quoted I think 22.00/yr for a milliion? I look more into it in the spring. maureen Link to comment Share on other sites More sharing options...
Greencoachdog Posted January 16, 2008 Report Share Posted January 16, 2008 Sounds a little high to me, shop around. Link to comment Share on other sites More sharing options...
Landlocked Posted January 16, 2008 Report Share Posted January 16, 2008 Shoot me a pm with the details and I'll see what I can dig up for you! Link to comment Share on other sites More sharing options...
misfish Posted January 16, 2008 Report Share Posted January 16, 2008 State farm. Thats where I had mine and it covered replacement. I had to take the electronics off and bring them in the house when it was parked. Link to comment Share on other sites More sharing options...
Gerritt Posted January 16, 2008 Report Share Posted January 16, 2008 Rob, Who are you with? and what are they giving you... does it include all your toys, rods, tackle etc? mine is 273 for year,,, My boat is new, my trailer is new, my motor is gently used...@ 40 HP but has been bored to 50-55hp thats covers everything including all my toys and give me 1,000,000.00 my liability should i hit a yacht or something 477 seems like alot.. to me... mind id like you tell be who that figure was from? i got my best price for Home, Auto and my toys through them.. Call Certias! Cant hurt right? <-- always served my house, 2 cars N truck.. and now my boat... never hurts to ask right? but I bet Cirtas WILL BE CHEAPER! Use me as a reference if neeed be.. pm me details. G G Man... I had a few more then I thought last night! That does not even make sense to me! LOL G Link to comment Share on other sites More sharing options...
spooner_jr Posted January 17, 2008 Report Share Posted January 17, 2008 Misfish, if your electronics are attached to the boat, they are covered. With State Farm, it is an agreed amount policy, which means if you insure it for $10k, and it goes missing, you get $10k. Also, partial losses (motor stolen off boat, wipe out bottom end etc) are settled at replacement cost. If the package is insured for $10k, you would have replacement cost for the motor, up to the policy limits. And $480 seems high for the cost of insuring a 16' with a 50hp motor. Link to comment Share on other sites More sharing options...
Landlocked Posted January 17, 2008 Report Share Posted January 17, 2008 Spooner...not trying to disagree as you are partially correct. There are policies at an agreed value like you said but there are also policies out there that are known as ACV or "Actual Cash Value" This simply means depreciation applies and it doesn't matter what limit you are showing on the policy. The best advice is to look for the policy type that you described Link to comment Share on other sites More sharing options...
spooner_jr Posted January 17, 2008 Report Share Posted January 17, 2008 Hey Landlocked...I wasn't commenting on boat policies in general, I was just letting Misfish know what his State Farm policy covered. The worst policy I heard of was the one that only covered theft of a PWC if it was stolen from the inside of a locked building... Link to comment Share on other sites More sharing options...
Landlocked Posted January 17, 2008 Report Share Posted January 17, 2008 OK! I understand. I've dealt with the company you're referring to on the PWC, all I can say is what are they thinking? Link to comment Share on other sites More sharing options...
misfish Posted January 17, 2008 Report Share Posted January 17, 2008 Misfish, if your electronics are attached to the boat, they are covered Just telling you what they told me. They would not be covered on the boat policy,but would be covered under my home policey.???????????????????? Link to comment Share on other sites More sharing options...
spooner_jr Posted January 18, 2008 Report Share Posted January 18, 2008 If they are attached to your boat, they are considered part of the boat's equipment. If you have something like a portable GPS, it would not be covered under the boat policy. I've been with SF for 20 years, and this is the way it's always been handled. What kind of electronics are you talking about? Link to comment Share on other sites More sharing options...
mcallister.grant Posted January 18, 2008 Report Share Posted January 18, 2008 How is life with SF? I am an agent with Coop. Link to comment Share on other sites More sharing options...
misfish Posted January 18, 2008 Report Share Posted January 18, 2008 If they are attached to your boat, they are considered part of the boat's equipment. If you have something like a portable GPS, it would not be covered under the boat policy. I've been with SF for 20 years, and this is the way it's always been handled. What kind of electronics are you talking about? My depth finders and gps. They could be removed, so this is what I was told. It,s not that important anymore as I dont have the boat anymore.LOL Link to comment Share on other sites More sharing options...
TAH Posted January 18, 2008 Report Share Posted January 18, 2008 wow! I just got a quote yesterday and the total price was 303 for boat motor and trailer,($14,000) 98 princecraft 14.2 series, and trailer with a 2002 honda 4 stroke . actual cash value replacement. $45. for 2 million for water craft liability and $93.00 for $3000.00 additonal equipment rod reels and equipment ( radio, fishfinder, trolling motor) Total $ 441.00 This price was included with the car-home insurance package as I am shopping around for new pricing. PS I did save $600.00 on the car insurance, I guess I should keep shopping as with the costling you are showing, my quote for the boat seems high Tom Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now