Insurance coverage

Morpheus said:
water rat said:
wastinaweigh said:
What boat do you have? I pay about 1,100/yr on a 260DA.

Since you appear to be in Florida, you are going to pay more than our friends in the upper 48 and Hawaii, and will have fewer choices and higher deductibles.

My hurricane deductible went to 10% this year, on an agreed value of 75K.

I am with NBOA.
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We pay $696/year thru Progressive Direct. We have a 2006 240 Sundeck. Value is 54k. We are in the Tampa area.

:smt013 That's whom I'm with and they are charging me 1100 a year for 50k value on a 2006 240 Sundeck. WHAT THE HECK!
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They also take your driving record and credit report into account... Both of ours are perfect and no claims on the cars or anything in the past. I don't know if that is a factor for you. I don't get why yours is double.
I am also getting quotes thru allstate, nboa and sea insurance (?) just to compare. I just got our yearly bill and I like to call around and compare rates. I'll see what I come up with.
When we were purchasing our sea ray the place the dealer wanted us to go thru was $1200/year for comprable coverage. Can't remember who it was. the dealer must get a kick back using them because the price was so high.

I'll post the others rates when they get back with me.
 
Well my driving record is clean. I did have a claim recently though on the truck someone ran into it and took off while it was parked at a Walgreens. Nissan had to replace the bumper and quarter panel. Basterds

But this was just recently, the insurance as been in affect since last Oct. As far as credit I'd say it's average nothing exciting but no lates or anything crazy.

I need to start asking why it's so high for me :huh:
 
Seems cause this is my first boat I purchased might be the reason.

SeaInsure just told me FLAT OUT NO and that I need atleast 3 years prior ownership of similar size/type boat.
 
Just got off the phone with Allstate they quoted me $1500 a year for my boat :smt089

Just doesn't seem fair.
 
Allstate was 695/year

nboa wanted 1300/yr. crazy.

We do have 15 years of boating exp. so that makes a difference.
 
I got a flyer in the Sea Ray Living magazine for NBOA so I called them on the day I was going to renew my current policy. I was at $736 with State Farm. NBOA hooked me up for $393. :thumbsup::smt038
Needless to say, I'm one happy camper!
Michael
 
As mentioned by jhild, personal experience can make a difference; so can courses taken through Power Squadrons and Coast Guard Aux. You might also see if a higher than standard deductible will make enough difference for you to consider it.

We checked with the USPS insurance program after checking with the same company that carries our homeowner's and car insurance. Since we are on inland lakes, well out of the path of most named storms, and I have taken several Power Squadron courses, and were willing to accept a high deductible, we were able to get our premium below $400/year for $66k replacement value coverage.
 
I went with State Farm on mine and got good coverage and a low deductible for $495 a year. I thought that was pretty good since I'm at the coast - but they liked the fact it was trailered and kept at my home. It really helps when you have multiple policies with the same company/agent.
 
$456 year with NBOA 12 yrs exp with coast guard course... After Being with them for 2 yrs, they wanted 30 some different photos,:huh: Can't wait to hear back from them, maybe they will lowering thier rates 'cause i have all the things they were looking for :lol:
 
I'm with NBOA also for the 340. Kept in the water at the coast with no layup (year-round) 145k value costs me $1080 annually.
The 230 up in Va on SML, we got Allstate to include it with the homeowners policy since it is in a covered lift which is part of the dock. SB
 
Amazing I pay that here in Florida for a 50k sundeck 240 you should be happy with what you got :)
 
The 230 up in Va on SML, we got Allstate to include it with the homeowners policy since it is in a covered lift which is part of the dock. SB

This is the second time I have seen someone say that they got an insurance company to include their boat coverage in their homeowners policy. If you have a canoe I can buy it but if you have a Sea Ray I think you are mistaken. Do you mean a seperate boat insurance policy or an endorsement/rider to your homeowners policy. If you mean an endorsement/rider to your homeowners policy you may want to have a sit down with your agent to discuss your coverages. :smt101

Wesley
 
For my 180 Sport I was paying ~$250/yr. Now with my 220 Sundeck I am around ~$500/yr. I go through a company called Markel. I believe that they specialize in boat insurance. Good company so far.
 
WOW, I pay $371 per year. That's for a 2001 280 DA including additional coverage for electronics.
 
This is the second time I have seen someone say that they got an insurance company to include their boat coverage in their homeowners policy. If you have a canoe I can buy it but if you have a Sea Ray I think you are mistaken. Do you mean a seperate boat insurance policy or an endorsement/rider to your homeowners policy. If you mean an endorsement/rider to your homeowners policy you may want to have a sit down with your agent to discuss your coverages. :smt101

Wesley
I have it as a seperate rider on my homeowner's entitled "homeonwer's power boat rider", which also allows my $1M umbrella liability policy to cover me on the boat as well. It was $494 for my 240, the 270 is $700 with an agreed value of $87,000.
 
That makes since. It is basically a separte policy they are just attaching it to your ho. Do you pay your rider seperate or with your HO (one check or two)? When I hear I had my agent add it to my homeowners or it is covered by my homeowners I read that it is automatically included or basically free. $700 is no different than going to get a quote elsewhere for your boat insurance and if you have an umbrella that goes over top of it, it makes more since to do it that way.
 
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Actually, they put it on one bill and send it to the mortgage company to be paid out of escrow. They will not seperate the billing. Works ok and the price is right. It is simpler having all of your policies with one company. I have a good broker, which helps too.
 
Alright that is a new one, I have not heard of that, I am curious which company is it? It should be noted that I made two postings that were wrong it does appear you can add your boat under your homeowners policy these days for additional premium. I still would not do it under my homeowners policy.
 
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Curious: Why would you not do it under your homeowners policy?

Are you concerned they would not actually back up the policy, or have a clause that basically negates the boat coverage? (maybe something in the attic section that states that all boating coverage only applies if the boat is in the attic. . . .and that the attic clause supercedes all statements to the contrary in the boat section)
 

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