Insurance

[Caesar]

I'm curious to know how many of you guys have your tinboats covered with an insurance plan. In reading through alot of old posts and threads, I haven't seen much mention of this. Personally I'm not sure, I just bought my first boat recently, currently it's not covered, but I'm pretty sure once I finish modding it I'll get some sort of simple ins. plan. So my question is...


1)How many of you have insurance
2)What prompted you to get it
3)What is covered by your plan (and how much $$$ is it insured for?)
4)How much does a your plan run you a month, 6 months, or year.

Thanks guys.

 

[lckstckn2smknbrls]

Rite now I don't but I'm interested in getting some.

 

[Zum]

Not insured.
They havn't made us ...yet.
I'm sure they will one day.

 

[CarlF]

1 )Yes my current boat is covered, all the boats I have owned over the years have been covered by insurance.

2) Liability is the biggest issue. You have cause an accident & you could be liable for damages, medical, etc...

3)Not sure about my liability limit but the boat is covered up to $3200.00 for replacement plus another $1,000.00 for gear.

4) About $120/year. I consider that cheap.

 

[russ010]

I underwrite insurance... so I have insurance on my jon.

I have a 1236, and I'm not worried about the boat so much, but the liability and contents coverage. If your boat goes down, and you took out the foam, you're pretty much at a loss for getting anything there.

For contents, I have $10,000 coverage - this includes all trolling motors, radio, fish finders and batteries. It also covers rod/reels that I still have receipts for. These all carry a $150 deductible, but getting a little out of it will help in the long run. You can get Guaranteed Cost coverage where you have no deductible, but the premium is higher.

I carry $100,000 Liability (covers casualty/property damage). I don't have any gas motors, but you never know what could happen. I pay $12 per month, so it's about $150 per year total.

I don't know if most of you are aware or not, but your homeowners insurance also covers your boat and it's contents should something happen... the only thing with that is that it generally carries anywhere from a $500 to $5000 deductible depending on what your Perils deductible is on your homeowners insurance.

 

[ben2go]

Not required in my area.I don't have it.If my boat sinks,I'm only out a few hundred and I doubt any insurance co. would cover it.Deductable would be more than my boat is worth.

 

[russ010]

you can do a quote through progressive.com.... I have my insurance through USAA, but they are partnered with Progressive.

 

[Waterwings]

Dang, my insurance premium is due on my rig June 22nd, and I'd forgotten about it. :shock: . I have State Farm and my policy coverage is as follows:
My rig is a '08 Lowe 1652VT Roughneck, and a '07 Karavan trailer.

Boat, equipment, motors (I have no main motor): $4500.00 (this covers the boat and original equip only, ie., boat, front tm, batteries) Doesn't cover any accessories, or tackle I've added. My insurance agent came and took pics of it for his files, same as he did for the Tracker I used to own.
Boat trailer: $500.00
Watercraft liability: $100k
Watercraft Medical Payment (each person): $1k

My policy runs $70.06 a year.

 

[CarlF]

Food for thought even if your rig is not worth but a couple hundred bucks:
For most of us tinboat guys, the replacement part of the policy is not the main reason to get it.
It's the liability issue.
As I noted above, cause an accident on the water or while trailering, and your homeowners, and possibly even your auto policy in the case of trailering, will most likely not cover you for liability.
$50-$100/year for $100K in liability insurance on a boat is well worth it, IMO.

 

[russ010]

homeowners won't cover liability on the road... questionable on the water - homeowners is more for the contents while you're on the water.

Your auto should cover the trailer... I'd have to look back through coverages, but it's considered part of your vehicle when it's attached... but that only covers liability (which is for the other guy in the wreck, not you) - not damage or replacement for the trailer

 

[Waterwings]

I'm just guessing, but most of the rigs (with the exception of maybe a couple) I see on the water where I fish locally, probably don't carry any type of insurance.

 

[nozzleman]

I called my agent the other day and she said the boat and trailer while hooked up to the truck was covered by my truck insurance and when i'm on the water it is covered by my homeowners. I didn't ask specificaly about liability but i will tommorow.

 

[willfishforfood]

my boats has full cov. on it with full replacement $12000 for $125 or so a year.

 

[Popeye]

Liability 20/40/15 (I should up that)
Comprehensive total loss replacement at Purchase price of $18,584 ($250.00 deductable)
Collision total loss replacement at Purchase price of $18,584 ($250.00 deductable)

Road side assistance
Coastal Navigation limit 75 miles

$116/yr or $108/yr if I pay in full (which I do)

This is through USAA/Progressive for an '07 Tracker ProTeam 190TX w/ 90hp Merc and single axle trailer.