Insurance for my 20' sterndrive

Arminius

Well-Known Member
Oct 30, 2019
1,059
Seattle
Boat Info
Bowrider 200 Select, 2003
Engines
5.0L MPI, 260 hp w/Alpha 1 Drive
Got a good price on my Progressive/Homesight Homeowners' and a quote on Watercraft comprehensive from Progressive. The Bowrider 200 I just paid $15,000 for is in the attached garage.
In case of fire, the boat's coverage under Homeowners' is limited to $1,500. It can be specifically endorsed to the policy if I provide an appraisal letter from the Searay dealer and the additional premium would be $260. I passed.
I will get a personal liability endorsement on the Homeowners' for $10 before I take it out.
The Watercraft policy is $240 with the "Agreed value" of the boat at $15,000. I can raise that to $20,000 for an additional $20. In case of a total loss, the Agreed value is paid regardless of actual cash value. This is a comprehensive policy with liability, medical, trailering, etc. I will definitely get this policy before taking it out. The policy can be cancelled after a partial year and 90% of the prorated premium will be refunded. That would still leave me with only $1500 in fire insurance while it is in the garage for the winter, like now.
 
Last edited:
I have 4 boats covered on BoatUS. IMHO they are the ONLY Insurance company to use for a boat. You get more than just the insurance.

Now, having said that, insurance varies from state to state, so if you live in california or some other odd place, you might find different results.

$240 is more than I pay for a comprehensive policy with a 45,000 agreed value.

Also, I did due diligence on Progressive and they are not in my future.
 
I have 4 boats covered on BoatUS. IMHO they are the ONLY Insurance company to use for a boat. You get more than just the insurance.

Now, having said that, insurance varies from state to state, so if you live in california or some other odd place, you might find different results.

$240 is more than I pay for a comprehensive policy with a 45,000 agreed value.

Also, I did due diligence on Progressive and they are not in my future.
Thank you. My vetting on insurance has always been to distribute the existing dec page by fax to prospects with a request that their rep call me it they can beat it. I had been lazy for a "few" years with Liberty Mutual and was shocked when I found that both Geico and Progressive could cut the auto and home premium in half despite their truly obnoxious advertising. Liberty had endorsed my boat use onto Homeowner's personal liability and I had a following Umbrella so I never worried about the specific Watercraft coverage. Now, I better e-mail the Progressive quote to various carriers including Boat US. In talking with Progressive, there were no independent agents but all company reps were intelligent, knew their policies and did not push. They had a range of accents but you got to be accustomed to that.
 
Thank you. My vetting on insurance has always been to distribute the existing dec page by fax to prospects with a request that their rep call me it they can beat it. I had been lazy for a "few" years with Liberty Mutual and was shocked when I found that both Geico and Progressive could cut the auto and home premium in half despite their truly obnoxious advertising. Liberty had endorsed my boat use onto Homeowner's personal liability and I had a following Umbrella so I never worried about the specific Watercraft coverage. Now, I better e-mail the Progressive quote to various carriers including Boat US. In talking with Progressive, there were no independent agents but all company reps were intelligent, knew their policies and did not push. They had a range of accents but you got to be accustomed to that.
Boy the plot thickens...

I really think we are all getting screwed ALL the time and we don't even know it. That's why in some cases I am self insured and actually save tons of money. Of course, that doesn't include liability for anything or my boat as well.

First of all, Geico underwrites BoatUS policies. One would think that their price would be the same!

I recently learned that I was eligible for USAA insurance. I did not know that. When I had a price for Homeowners and Auto I found them to be the cheapest of anything anywhere, which is what the TV ads would have you believe. However, I further found out that they are underwritten by Liberty Mutual. Ain't that a kicker?
 
I recently learned that I was eligible for USAA insurance. I did not know that. When I had a price for Homeowners and Auto I found them to be the cheapest of anything anywhere, which is what the TV ads would have you believe. However, I further found out that they are underwritten by Liberty Mutual. Ain't that a kicker?

USAA boat insurance policies are underwritten by Progressive. I shop it around every year and the USAA coverage is by far the cheapest.
 

Forum statistics

Threads
112,950
Messages
1,422,880
Members
60,933
Latest member
juliediane
Back
Top