Insurance Poll

[Launchman2000]

I saw a post a few weeks back about the girl who died after a head injury wakeboarding and it got me thinking about insurance on my boat, the liability end anyway. I am shopping insurance and wanted to poll the group to see what the right amount of liability to carry, right now I have my boat insured for $20K and my liability is at $200K, per person, etc., The annual premium was $725, I guess I am just wanted to see how much other owners have. Thanks.

[Newbie girl]

I have a 86 Supra and I have liability - 300K, uninsured boater 300K, comprehensive and collision @ 8K and additional 2K personal effects - $341/year

[Diggs]

Ouch... that is pretty high. You should get an umbrella policy if you are concerned about that type of stuff. It is cheap and covers much more than just your boat. I think I pay around $400-$450 annually for a 2010 Supra. I also have an umbrella policy that is cheap to extent liability. State Farm.

[scotthons]

That does seem really steep for your boat insurance. We have an '06 21V with agreed value for much more than what I paid for it (I guess my reasoning was if something happened to the boat I do not want to be patient looking for a deal) and I can not remember what the annual premium is, but I know it is less than $725. It may be wise to look into an umbrella policy. My wife and I have one for $2 million and it is incredibly cheap.

[LloydP]

I am not sure what my coverage is, I believe it is $41k total replacement value on boat/trailer, and $250,000 liability. This costs me about $450 a year. I do, as Diggs suggested also have a $1m umbrella liability coverage policy that costs about $250 a year. Definitely the way to go - in my opinion.

[The Squeaky Wheel]

I pay around $600 for a 21v that I valued at 60k with assorted belongings.

I also have a several million dollar umbrella that covers a whole lot more......

[Skylar18]

Wow Launchman, that is a bit high being in Texas. I am in Austin and I am paying 378 a year and that includes 300,000 liability, 300K uninsured and full replacement value of the boat.

Check Progressive

[thescott]

08 22SSV
Boat & Boating Equipment : $52,000.00
*Boat & Boating Equipment Deductible : $520.00
Boating Liability per Accident : $300,000.00
Fuel Spill Liability : $800,000.00
Boat Trailer : $4,500.00
Boat Trailer Deductible : $50.00
Uninsured Boater per Accident: $300,000.00
Medical Payments per person : $1,000.00
Personal Effects per Accident : $1,000.00
Personal Effects Deductible : $ 50.00
Freeze State - Ice and Freezing Endorsment - Yes
Current Annual Premium : $469.00

[Launchman2000]

Yes, I thought that seemed high also. Well I actually got a better deal today through Farmer's, $300K Liability, etc for about $308. That seems to be in line with some of the others.

Thanks for all the feedback and advice

[Diggs]

make sure you check their whole policy. Some of the ones that are cheaper have a layup period. They make you declare 3 months that your boat will not be used and others do not cover under water damage (Props and Shafts).