cisco Posted March 6, 2018 Report Share Posted March 6, 2018 (edited) Liability isn't just to protect you re running over swimmers. Eg. a short circuit fire due to a water/gas logged hull burns the cottage or marina down the boat is parked beside. True story... Years ago a pal brought his fairly new bass boat to our cottage and went over a fair bump in the dirt roadway. He got out right away and he looked all worried as he examined the keel area close to the transom. Later he decided to not take his boat out... "too windy" I recall him saying. It even had a transom saver. In a month or two he sold the boat and the new owner, a guy we knew drove out onto a lake and as he was getting some tackle out the boat sank... within a couple minutes! They somehow worked a deal so it got covered by insurance. I'm guessing the claim was from which of them had insurance for hitting something in the water. I do not trust fibreglass boat sellers as result. Invite the old owner for the first test drive. Tell him it's so he can show you how everything works. If he declines or looks nervous behind the wheel and won't hit waves, get a marine survey done. The only way to buy a used fibreglass boat is with a M.S. and a high speed wave hitting test ride in it while watching the owner to see any nervousness. Then I'd check the bilge for any water/oil/gas. Edited March 6, 2018 by cisco Link to comment Share on other sites More sharing options...
AKRISONER Posted March 7, 2018 Author Report Share Posted March 7, 2018 (edited) Thanks for the input guys, im still contemplating but im heavily leaning towards not insuring the boat...I already know that my deductible would be $1,000 and the blue book value is just under $3,000...my premium for the year is going to be over $400 and then id have to spend over $500 just to get the marine survey done...so basically just to get insurance to cover anything id be paying $2,000 of the $3,000 that the insurance company would give me should the boat sink...just doesnt seem like a good investment at this point. if i squeeze two years out of the boat without crashing it...voila im in the green. A co-worker of mine that sails said that theres a possibility that my house insurance would cover some of my personal liability...which is really what i was trying to insure against anyways....I really dont give a damn about the boat at this point. Edited March 7, 2018 by AKRISONER Link to comment Share on other sites More sharing options...
BillM Posted March 7, 2018 Report Share Posted March 7, 2018 Sounds like a complete waste of money. Link to comment Share on other sites More sharing options...
misfish Posted March 7, 2018 Report Share Posted March 7, 2018 On 3/5/2018 at 6:41 PM, grimsbylander said: Call around. It's not a mandatory requirement. I'd never pay for a survey on a boat I already bought/own. Bill, no insurance? Collision ok but no liability? When I got my Ranger, it was 20 years old. Was told the same thing. Need a survey. Went to my insurance at the time and just got liability, as it was required to fish the tournys. Never got a survey done. Link to comment Share on other sites More sharing options...
Old Ironmaker Posted March 7, 2018 Report Share Posted March 7, 2018 Like Baseball legend Yogi Berra once said about insurance "When ya got it ya don't need it and it's the same when ya don't got it." Link to comment Share on other sites More sharing options...
grimsbylander Posted March 7, 2018 Report Share Posted March 7, 2018 1 hour ago, misfish said: When I got my Ranger, it was 20 years old. Was told the same thing. Need a survey. Went to my insurance at the time and just got liability, as it was required to fish the tournys. Never got a survey done. Same here Brian, that's why I mentioned it. Actually, I have a 20+ year old Ranger in my driveway right now, fully insured including collision and never had a survey done. Link to comment Share on other sites More sharing options...
BillM Posted March 7, 2018 Report Share Posted March 7, 2018 7 minutes ago, Old Ironmaker said: Like Baseball legend Yogi Berra once said about insurance "When ya got it ya don't need it and it's the same when ya don't got it." For a $3000 boat? Better things to spend your $$$ on. Link to comment Share on other sites More sharing options...
grimsbylander Posted March 7, 2018 Report Share Posted March 7, 2018 Sorry, I must have missed something...what's the $3000? Link to comment Share on other sites More sharing options...
BillM Posted March 7, 2018 Report Share Posted March 7, 2018 13 minutes ago, grimsbylander said: Sorry, I must have missed something...what's the $3000? Blue book on his boat is 3k. Link to comment Share on other sites More sharing options...
AKRISONER Posted March 7, 2018 Author Report Share Posted March 7, 2018 I called a pile of places and tried to get just liability and no one would do it. they all want you to buy all of the bells and whistles.... Slightly upset that i'd need coverage to fish proper tournaments if I ever cared to try, but whatever it is what it is. Link to comment Share on other sites More sharing options...
spinnerbaitking Posted March 7, 2018 Report Share Posted March 7, 2018 I've had 4 boats added to my house policy and a couple were over 20 years old the one I sold last year was a 1985 and never had a problem. I told them what I paid for them and they were added. Tight Lines SBK Link to comment Share on other sites More sharing options...
Lape0019 Posted March 7, 2018 Report Share Posted March 7, 2018 Downside of insuring under house policy is that if you have a claim on your boat, your home insurance goes up. I was insured that way for years and never had an issue but this was always on my mind. Link to comment Share on other sites More sharing options...
AKRISONER Posted March 7, 2018 Author Report Share Posted March 7, 2018 2 hours ago, spinnerbaitking said: I've had 4 boats added to my house policy and a couple were over 20 years old the one I sold last year was a 1985 and never had a problem. I told them what I paid for them and they were added. Tight Lines SBK From what I was told is that because my outboard is over 60hp they couldnt throw it under the house policy it needs its own policy entirely on its own. otherwise I totally would have gone that route. once again I am only looking for liability coverage and unfortunately that is not an option. Link to comment Share on other sites More sharing options...
Old Ironmaker Posted March 7, 2018 Report Share Posted March 7, 2018 3 hours ago, BillM said: For a $3000 boat? Better things to spend your $$$ on. I wouldn't insure it either. For 400 bucks a year I get 14K loss and a million in liability through my homeowners. With my life experiences I have heard a number of horror stories about people I know that either weren't insured or thought they were. The story was 30 years ago my parents neighbour had friends over to shingle a story and 1/2 house. A young kid fell, ended up in a chair for life, paraplegic. The insurance paid out 1 million, the family had to liquidate everything they owed including their home and this guys going to pay 30% of his wages and his EX wife will do the same for the rest of their lives. The kid was 16 and the homeowners were in their mid 20's then. 2 families devastated for life to save what? A few bucks in qualified labour? And they had insurance. Tragic story. I would want to have some liability insurance at the least on my boat. Accidents happen and I wouldn't want to risk any equity in my home. Today I don't think court will award a plaintiff everything a family has. I hope not. Link to comment Share on other sites More sharing options...
cisco Posted March 7, 2018 Report Share Posted March 7, 2018 I wouldn't insure it. Just be careful where it is parked n relation to expensive stuff. As for tourneys you can still fish beside them unofficially. Odds are you are like most entrants so wouldn't have won anything anyway but would have spent a ton on entry fees. Link to comment Share on other sites More sharing options...
grimsbylander Posted March 7, 2018 Report Share Posted March 7, 2018 LOL I don't think that's the real spirit of competing. I play hockey in the driveway while the Leafs on! haha Link to comment Share on other sites More sharing options...
Lape0019 Posted March 7, 2018 Report Share Posted March 7, 2018 (edited) Granted, not far off but my tracker had a 75hp and was under my home policy. It was on a rider under my home policy I should say. My only stipulation was speed. The boat could not exceed 60mph or it would be need to be on its own policy. Different insurance companies will have different rules though. Edited March 8, 2018 by Lape0019 Link to comment Share on other sites More sharing options...
cisco Posted March 7, 2018 Report Share Posted March 7, 2018 If a guy has an old bass boat and no insurance he has to make due. If he did get better fish than the competitors he might get the attention and sponsorship needed to 'compete'. He shouldn't sit on the sidelines since he isn't able to afford a fancy boat and insurance. He should still try to show his stuff. Re your hockey analogy, you can be a walk on and show your talent. If you have it you get a shot. My point is simple. If you are good you should show it. Then you may get a chance to compete at a higher level. Link to comment Share on other sites More sharing options...
Old Ironmaker Posted March 8, 2018 Report Share Posted March 8, 2018 (edited) I know I said I wouldn't insure it, I meant fully insure it. I would surely try and get some liability through homeowners at the very least. You sink the boat big willy, you are out 3 grand, if you run into a 100K Ranger by accident, a broken throttle cable, a stuck steering cable, I can list many reasons, well a few at least then "Houston we have a problem." Just kiss one of those glitter covered fancy boats at the ramp will cost big bucks. Much more than a survey I bet. I'm sure there will be a day liability on all vehicles off road and on water will be mandatory. I know I don't want some duffus to T bone my boat with his Jet Ski or 12 foot tinny. Who's going to reimburse me? No one most likely. I don't want to think if I accidently injure a family by accident. Edited March 8, 2018 by Old Ironmaker Link to comment Share on other sites More sharing options...
Pikeslayer Posted March 8, 2018 Report Share Posted March 8, 2018 (edited) So according to better half who works @ Desjardin/The Personal & 25+ yrs experience in home/auto/boat insurance, your 3K boat is max coverage (fur coats, bicycles & watercraft combined) covered under your home policy inclusive of liability minimum of 1 mil $$$ so if you have no fur or bicycles, your max claim is 3K for the loss of boat + the max liability your home policy covers. edit to add, she has never, ever, never required a survey for a boat of that value. Edited March 8, 2018 by Pikeslayer Link to comment Share on other sites More sharing options...
Old Ironmaker Posted March 8, 2018 Report Share Posted March 8, 2018 (edited) 2 hours ago, Pikeslayer said: So according to better half who works @ Desjardin/The Personal & 25+ yrs experience in home/auto/boat insurance, your 3K boat is max coverage (fur coats, bicycles & watercraft combined) covered under your home policy inclusive of liability minimum of 1 mil $$$ so if you have no fur or bicycles, your max claim is 3K for the loss of boat + the max liability your home policy covers. edit to add, she has never, ever, never required a survey for a boat of that value. Some real answers from an Insurance person. I know I have things covered besides the basic loss from the home policy. Like some jewelry beyond the basic loss where we needed photos and appraisals that were required. Ticha's ring, a few Championship rings and my Nono's and Dad's antique watches and Military Medals, Ticha's Grandmothers and Mom's stuff. No need for anyone to come snoop here it's all in a safety deposit box. Feel free to take my Walmart 20 buck fashion watches right next to my Pit Bulls food bowl. Talking about insurance my broker who I fished with out here a few times told me to take pics of all my tackle, electronics, boat accessories and rods and keep them on a disc outside the home in case of fire. Heck 3 fenders, an anchor and 200' feet of quality rope, a marine fire extinguisher, a booster pack, a simple GPS combo and 2 more sonars, a good compass, 2 inflatables, 2 good quality PDF's, a simple tool kit, Maui Joe glasses, a good safety/first aid kit, a blood glucose tester, a spare prop, a Smart phone. I'll stop there and that is close to or more than $2500.00 plus HST to replace. 2/3 the cost of Akri's boat. I venture a guess once all that stuff is aboard a $3000.00 boat is closer to 6 grand than 3 grand not including the weapons of mass destruction. Another grand maybe, more? $500.00 bucks for a survey may be a good financial move after all Akrisoner. I forgot the CD of "Oh Brother Are Out Thou?" By The Soggy Bottom Boys, priceless. Edited March 8, 2018 by Old Ironmaker Link to comment Share on other sites More sharing options...
cisco Posted March 8, 2018 Report Share Posted March 8, 2018 3 hours ago, Pikeslayer said: So according to better half who works @ Desjardin/The Personal & 25+ yrs experience in home/auto/boat insurance, your 3K boat is max coverage (fur coats, bicycles & watercraft combined) covered under your home policy inclusive of liability minimum of 1 mil $$$ so if you have no fur or bicycles, your max claim is 3K for the loss of boat + the max liability your home policy covers. So re tourneys wanting competitors to have insurance, it should be OK to just show you are covered for liability under your Home Owners Policy? This since all the tourney would really care about is the possibility of being sued if a competitor does something that might implicate the tourney organizers. Liability insurance would cover hitting another boat but not your own $3,000. boat. Link to comment Share on other sites More sharing options...
AKRISONER Posted March 8, 2018 Author Report Share Posted March 8, 2018 (edited) 10 hours ago, Pikeslayer said: So according to better half who works @ Desjardin/The Personal & 25+ yrs experience in home/auto/boat insurance, your 3K boat is max coverage (fur coats, bicycles & watercraft combined) covered under your home policy inclusive of liability minimum of 1 mil $$$ so if you have no fur or bicycles, your max claim is 3K for the loss of boat + the max liability your home policy covers. edit to add, she has never, ever, never required a survey for a boat of that value. Frigging adulting is so hard....the way this translates to me is that I have liability coverage up to a minimum of $1,000,000 through my home insurance policy because it has a clause for fur, bicycles and watercraft and this is a standard among all home insurance policies.... does this mean that if I were entering a Bass tournament that I would be able to display this policies liability coverage? Can anyone with actual tournament experience explain how this works? I have no idea how registration for a real tournament even works. The events I have fished have only ever been small friends and family/trailer park/resort operated tournaments. Edited March 8, 2018 by AKRISONER Link to comment Share on other sites More sharing options...
grimsbylander Posted March 8, 2018 Report Share Posted March 8, 2018 Another Option... Join OFAH - 5 Million in liability = $55/yr. We should all be members anyway!! Me included - guilty! Mine lapsed and I haven't renewed. Link to comment Share on other sites More sharing options...
AKRISONER Posted March 8, 2018 Author Report Share Posted March 8, 2018 (edited) 7 minutes ago, grimsbylander said: Another Option... Join OFAH - 5 Million in liability = $55/yr. We should all be members anyway!! Me included - guilty! Mine lapsed and I haven't renewed. Would this coverage allow me to enter bass tourneys? can anyone confirm? I should be a member anyways Edited March 8, 2018 by AKRISONER update Link to comment Share on other sites More sharing options...
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