Boat Insurance

[skankbutta]

Just picked up a boat from the USA. It is a 2005 Alumacraft Navigator 165CS w/ a 2005 75HP Evinrude E-tec. The boat is a 16' 7" side console wide body.

 

I have completed all the necessary paper work and the boat is "official". Now I am looking at getting it insured. I'm just curious as to what others pay for a similiar boat to get insured. I called my current car/house insurance company and they quoted me around $300 for the year w/ a $200 deductible. Does this seem reasonable? I will call a few places (any recommendations?) to get some comparative quotes.

 

Thanks for any help.

[DRIFTER_016]

Just picked up a boat from the USA. It is a 2005 Alumacraft Navigator 165CS w/ a 2005 75HP Evinrude E-tec. The boat is a 16' 7" side console wide body.

 

I have completed all the necessary paper work and the boat is "official". Now I am looking at getting it insured. I'm just curious as to what others pay for a similiar boat to get insured. I called my current car/house insurance company and they quoted me around $300 for the year w/ a $200 deductible. Does this seem reasonable? I will call a few places (any recommendations?) to get some comparative quotes.

 

Thanks for any help.

 

 

Yep, that's is about the going rate for a boat of that age and size.

[Lunkerhunter]

i would say that sounds reasonable. your best bet is to try and keep it with the same company you have your other stuff with.

[skankbutta]

Thanks guys.

[smally21]

just chippin in - about 400 for a similar boat, new(ish) from the states.

[rylan]

Just a heads up--- my wife is an insurance broker. I think you might want to look into how and where your boat is covered. I think you are only covered while the boat is stationed at the dock. Once you un-tie and leave the dock-- you are not covered... I could be wrong..but you might want to look into that. Or just be careful

[ohhenrygsr]

Marine insurance is the best to look at. Having your boat and car on the same insurance company could be a problem. For example if your insurance company only allows 2 accidents in 2 years and you file a claim on your boat and car. Then it could be okay but if you have a third accident they might consider you as high risk and drop you. Go marine spend the extra 50-100 it be worth it in the long run

[linweir]

Just curious if such boat insurance is necessary.

I know OFAH offers $3M third party liability insuance to their members. The membership fee is only $40/yr.

[grt1]

when I got my boat, the insurance company I had my house insurance with wanted $1000 a year to add it to my insurance package (the boat cost me just over 35K) I thought that was outrageous, so I called a friend who is inthe insurance business and he set me up with a Marine insurance company, now it cost $765 per year and has several specific qualifications on it, one of which is not using it south of a certain latitude( don't know why and cant remember which latitude, but I'm pretty far north of it anyway).

[aplumma]

My marine insurance has a reduction every year their is not a claim. You also should check to see what the reductions in rate are for higher deductibles. I saved over $300.00 a year by increasing my deductible to $1000.00.

 

 

Art

[fish_fishburn]

I agree with Henry. Get a vessel policy and keep it seperate from your home and auto. It cost a little more but when you have to make a claim it is settled real quick and won't effect your rates with you auto and home. I know this from experience. My bassboat was 700 per year for 30,000 of value with a 500 deductable. My insurance co paid the full pop and was settled in 4 days.

[bassman]

Congrats on the boat, I bought an 05 Navigator 165 Sport earlier this year, you're gonna love it. Insurance cost me app. $300/year.

[bigugli]

I got a marine policy with State Farm that was reasonable, yet good coverage. When I sheared my prop shaft, no problem. Work was approved and completed a little more than a week after filing a claim. Rates never went up and stayed $100 below the nearest competitor. The 2 marine insurance companies I talked to quoted $150 over the policy I got. SHOP AROUND

[danbouck]

I have Northstar for just under $400 a year. I am covered for A LOT of stuff.

[bigfish1965]

Just curious what you paid for the boat after all was done and said. Might be able to buy next year sometime and wondering what the price difference is like. You can PM me if you prefer.

[ohhenrygsr]

Rough Free online Quote. I recommend all my customers to http://marineexpert.ca/on/ or http://www.northstarinsurance.ca/

[Hairpy]

I use State Farm because they insure me for the ENTIRE 12 months of the year, my boat value is $15K and the premium is $400/year.

 

Jsoeph

[skankbutta]

Just curious what you paid for the boat after all was done and said. Might be able to buy next year sometime and wondering what the price difference is like. You can PM me if you prefer.

 

I picked up the boat for $8500 US ($9100 Canadian w/ converting).

I paid $1100 taxes at the border for boat and trailer and then another $50 taxes at the motor vehicle office.

You have to pay $250 to get your trailer inspected at Canadian tire.

And probably $100 for gas to get to Michigan and back.

 

All in I probably spent about $10,500. Not cheap, but a heck of a lot cheaper than I could get a similar one in Canada. I could probably sell my boat right now in Canada for about 13,000+.