Fish4Eyes Posted May 26, 2016 Report Posted May 26, 2016 Hey guys, shopping for boat insurance. Who is giving the best deals these days? Boat sits at dock all spring, summer and half of fall. TD will not insure as boat is older than 15 years.
DRIFTER_016 Posted May 26, 2016 Report Posted May 26, 2016 Call up Meadowvale Ins Brokers in Mississauga. They had me with Dominion Ins. and it was very reasonable.
Dara Posted May 27, 2016 Report Posted May 27, 2016 What do you want insurance to cover. At over 15 years old I would think liability would be enough. Won't they insure for that at ant age? Excuse me if I'm wrong but I'm not sure what you need
DRIFTER_016 Posted May 27, 2016 Report Posted May 27, 2016 What do you want insurance to cover. At over 15 years old I would think liability would be enough. Won't they insure for that at ant age? Excuse me if I'm wrong but I'm not sure what you need My boat is a '91 and is fully insured. If my boat sinks I'll get a cheque for nearly $40K.
Rizzo Posted May 27, 2016 Report Posted May 27, 2016 ya you may wanna sink it That can buy a heck of a good boat in replacement and a few brown pops to boot
Garnet Posted May 27, 2016 Report Posted May 27, 2016 Randy Spenceley 1 705 721 7806 ext 239. Pacific Marine
Dara Posted May 27, 2016 Report Posted May 27, 2016 My boat is a '91 and is fully insured. If my boat sinks I'll get a cheque for nearly $40K. Hasn't sunk in 25 years, what are the chances of that happening vrs the insurance costs
Dutch01 Posted May 27, 2016 Report Posted May 27, 2016 Who here doesn't have insurance? From what I understand it's not mandatory in Ontario. My boat probably isn't worth the cost of insuring against loss, but I am thinking about adding liability coverage. Just wondering who has it and who doesn't......
KLINKER Posted May 27, 2016 Report Posted May 27, 2016 If you happen to be a Power squadron member you can get a discount on new for old like Drifter through Dalton Timmens. Policy designed by boaters.
Mister G Posted May 27, 2016 Report Posted May 27, 2016 Who here doesn't have insurance? From what I understand it's not mandatory in Ontario. My boat probably isn't worth the cost of insuring against loss, but I am thinking about adding liability coverage. Just wondering who has it and who doesn't...... I went about 20+ years without insurance in my old but, but now with the new rig I have insurance again.
DRIFTER_016 Posted May 27, 2016 Report Posted May 27, 2016 Hasn't sunk in 25 years, what are the chances of that happening vrs the insurance costs At $350 a year for full coverage it's a no brainer!!!! Storm damage, sinking, hit a shoal, theft........................ any number of things could happen. The peace of mind that I'm covered should something happen is worth more than a buck a day if you ask me.
Dutch01 Posted May 27, 2016 Report Posted May 27, 2016 I went about 20+ years without insurance in my old but, but now with the new rig I have insurance again. I was trying to hold off until I upgrade the boat someday but this thread got me thinking. Still haven't made up my mind.
Dara Posted May 27, 2016 Report Posted May 27, 2016 (edited) I had it for the first few years but at $350 a year for my boat its not worth it. For $40,000 replacement, sure but for $15,000 eh, maybe but I am starting to hate giving them so much money for so many things If it was a big fast boat in a high traffic area I would but ..... Edited May 27, 2016 by Dara
DanD Posted May 27, 2016 Report Posted May 27, 2016 Check if you can put a rider on your house policy to cover the boat? My old tinny was valued at 9 grand; which allowed (because of its low value) me to add liability and comp to the house insurance. While towing the boat its covered by the tow vehicle's insurance; just check with your broker as to what is or isn't covered and add riders if possible to the different policies. Dan.
Dutch01 Posted May 27, 2016 Report Posted May 27, 2016 Check if you can put a rider on your house policy to cover the boat? My old tinny was valued at 9 grand; which allowed (because of its low value) me to add liability and comp to the house insurance. While towing the boat its covered by the tow vehicle's insurance; just check with your broker as to what is or isn't covered and add riders if possible to the different policies. Dan. I asked my old broker and they said my old tinner with a 20 on it was covered under my umbrella liability. I'm with allstate now and they said I would have to buy a separate policy because I have a 40 on my boat now.
Fish4Eyes Posted May 27, 2016 Author Report Posted May 27, 2016 (edited) I ain't worried about the boat, its motor theft that I am worried about. Just bought a new 40hp yammy and Terrova and the boat sits at the dock at my trailer. Not worried about liability either. Edited May 27, 2016 by Fish4Eyes
Old Ironmaker Posted May 27, 2016 Report Posted May 27, 2016 Mine is covered under my Home policy for an extra 200 bucks or so.
Rizzo Posted May 27, 2016 Report Posted May 27, 2016 When my boat was 10 k I didn't bother. I dropped 26 k a few years back and this one is insured. $350/year
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