Reasonable boat insurance?

Sue Doe-Nym · 07-25-2023, 01:05 PM

We are thinking of shopping around for new boat insurance as our new annual premium for our boat and 2 older jetskis is just over $1000, which seems exorbitant to us. The boat is a Cobalt 240 with a value of $35,000. Does anyone have any suggestions for a reasonable insurance carrier? Maybe we are being unrealistic. TIA for any constructive comments.

Sue

wentworthwhitbreadIII · 07-25-2023, 01:15 PM

Check with Melcher & Prescott. I insure my $35k Formula with them through Chubb. Be very careful and make sure whoever you go with has a replacement cost contract and not actual cash value. Your homeowners insurer may also be an option to bundle coverage. My neighbor is with M&P and bundles it all with Central Insurance

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thinkxingu · 07-25-2023, 01:41 PM

I'm not sure who you have, but we have everything with State Farm: two cars, a boat, and a $1M umbrella is $1700/yr. With two jetskis (which we just sold/removed), it was $2150/yr.

I'm not sure if that's an awesome price, but our State Farm agent is AWESOME and makes shopping around a non-consideration.

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tummyman · 07-25-2023, 01:45 PM

Try Progressive...my insurance is really inexpensive.

8gv · 07-25-2023, 02:14 PM

Quote:

Originally Posted by tummyman

Try Progressive...my insurance is really inexpensive.

I have them for my fleet as well.

They are reasonable with the premiums but I have yet to have a claim so I do not know how well they pay out.

Mr. V · 07-25-2023, 02:15 PM

AARP partners with The Hartford insurance co. and when we enrolled in AARP I checked their rates; I was happily surprised and switched our home and auto policies forthwith. No idea about their rates on boats though.

garysanfran · 07-25-2023, 04:58 PM

I have good reasons to not recommend Geico, to insure anything.

TiltonBB · 07-25-2023, 05:00 PM

I have Geico and Boat US for boats. The premiums seem fair and towing is included.

It was posted above that the the agent was awesome. I have the same situation. All my insurance, except watercraft, has been through the same agent for 30 years. He is a nice guy.

But, I think as the years go by the agents tend to increase the premiums where they can. I have not looked, but I should, to see what others offer for the same property and umbrella coverage. I also believe that when you look and get prices, you will get a low quote to earn your business but in the following years the premiums will creep up.

It is nice if the agent is a friend. but if you already have plenty of friends but not more money than you could ever spend, it might be something to look at.

The Real BigGuy · 07-25-2023, 06:00 PM

I think when Geico took over underwriting BoatUS insurance they transitioned the BoatUS replacement value policies to actual cost

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tis · 07-25-2023, 06:43 PM

What I would love is to have ALL your insurance under one policy like a business. It would be so nice.

Sue Doe-Nym · 07-25-2023, 07:04 PM

Thanks for all the constructive suggestions. I will do research on some of these companies , comparing their coverage, and will report my findings. Allstate has our homeowners and auto insurance, so maybe they do watercraft as well. Again,
thank you.

Woodsy · 07-26-2023, 08:26 AM

I have all of my insurance bundles with Allstate... def not the best pricing, especially when it comes to my F-150. But the boat insurance is very reasonable.

Woodsy

ishoot308 · 07-26-2023, 08:38 AM

Quote:

Originally Posted by Sue Doe-Nym

We are thinking of shopping around for new boat insurance as our new annual premium for our boat and 2 older jetskis is just over $1000, which seems exorbitant to us. The boat is a Cobalt 240 with a value of $35,000. Does anyone have any suggestions for a reasonable insurance carrier? Maybe we are being unrealistic. TIA for any constructive comments.

Sue

Progressive for me...great rates but more important...they were there when I needed them! Great to work with!

Dan

TheProfessor · 07-26-2023, 11:09 AM

Quote:

Originally Posted by Sue Doe-Nym

Thanks for all the constructive suggestions.

My insurance went up. Got all of the suggestions above.

Went in gave my name to one of those above that I never had insurace from. And the insurance person immediatley brought up on her computer the company and coverage that I already have.

She searched 4 companies. The best that she could offer for SAME coverage was a savings of $8.00.

The ones that advertise on TV are all bunk.

Now I am going to call that Social Security telephone number that advertises on TV.
Going to get a rebate from my Social Security monthly charge.
Get free dental.
Get free hearing.
Get free eye care.
Get free dental.
Get free free education.
Get free tax preparation.
Get free phone and free internet.
Get free food.
And get $189.00 off my Social Security premium.

As a footnote: I am in love with Stephanie Courtney. Net worth of about $9 million dollars.

LIforrelaxin · 07-26-2023, 12:26 PM

Quote:

Originally Posted by Sue Doe-Nym

We are thinking of shopping around for new boat insurance as our new annual premium for our boat and 2 older jetskis is just over $1000, which seems exorbitant to us. The boat is a Cobalt 240 with a value of $35,000. Does anyone have any suggestions for a reasonable insurance carrier? Maybe we are being unrealistic. TIA for any constructive comments.

Sue

Talk with your current insurance agent and see what the driving force behind you $1000 dollar policy cost. I have seen issues where insurance companies create false assumptions... i.e believe a boat is capable of more speed then it is based on engine size.... etc. You may also find, that your insurance company still has you boat valued at more then 35,000$....

With that said when I needed to get a boat policy I was put in touch with Antonucci Insurance Services out of Wolfeboro, they have been great to work with..... I believe my policy is current through pregressive, and is very reasonable, of course I have sized down to a single boat, that isn't even capable of 25 MPH..... but with that said I pay less then 200$ for very good coverage.....

Woody38 · 07-26-2023, 12:54 PM

We had Geico for homeowners back in the 70's. I do not remember the reason; however, we left them and went with AMICA. This company has been great. They wrote us a commercial policy on property we built on Cape Cod when they did not write commercial insurance. We still have homeowners, auto and umbrella with AMICA. Unfortunately, they do not write insurance for classic or antique boats.
Thus Geico through Boat/US. Every year they lower the insurance without a corresponding decrease in premium. Seriously will be looking for other coverage. Maybe, the company that insures our house in California.
Stay away from GEICO in my opinion.

TheProfessor · 07-26-2023, 03:14 PM

Quote:

Originally Posted by Woody38

we left them and went with AMICA.

Lucky to get Amica.

They did not do for me as my first house was 2 family.
Credit excellent. Zero previous claims. Nice low crime town. Nice neighborhood.

Tried Amica for auto insurance. Years later. Cost/price was way higher than Concord Group for same coverage.

If one can get Amica and bundle all might be a better deal.

Sue Doe-Nym · 08-22-2023, 09:29 AM

Progressive is going to insure our boat and 2 jetskis for approximately half what we have been paying with Markel. Thank you to those of you who chimed in with suggestions….very helpful!

thinkxingu · 08-22-2023, 09:49 AM

Quote:

Originally Posted by Sue Doe-Nym

Progressive is going to insure our boat and 2 jetskis for approximately half what we have been paying with Markel. Thank you to those of you who chimed in with suggestions….very helpful!

Sweet! That's great.

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Sue Doe-Nym · 08-23-2023, 04:07 PM

We decided to go through Antonucci in Wolfeboro. They have been recommended by several people we know, and they have been very helpful and professional, and that’s a challenge these days.

ApS · 08-23-2023, 04:47 PM

Quote:

Originally Posted by LIforrelaxin

Talk with your current insurance agent and see what the driving force behind you $1000 dollar policy cost. I have seen issues where insurance companies create false assumptions... i.e believe a boat is capable of more speed then it is based on engine size.... etc. You may also find, that your insurance company still has you boat valued at more then 35,000$....

With that said when I needed to get a boat policy I was put in touch with Antonucci Insurance Services out of Wolfeboro, they have been great to work with..... I believe my policy is current through Progressive, and is very reasonable, of course I have sized down to a single boat, that isn't even capable of 25 MPH..... but with that said I pay less then 200$ for very good coverage.....

I found this while researching Progressive:

Low rates for high-risk drivers:

Quote:

Based on our in-depth industry research, we found that Progressive offers some of the lowest premium costs on average for high-risk drivers, which includes those with a recent driving under the influence (DUI) conviction, speeding ticket or accident on their record.

camp guy · 08-23-2023, 05:17 PM

My experience with insurance, for boats in particular, is to have a comfortable relationship with the Agent representing the carrier, and to ask a lot of "what if..." questions before deciding which Company and what specific policy to purchase. During my life I have stayed away from "1-800..." companies, preferring to use a local Agency and local agent. My biggest hope is that "you" never need to use your insurance, but if you do, having a local agent makes life a lot easier when it comes to filing a claim.
Sometimes when an insurance deal looks too good to pass up, that is exactly when it is time to pass it up.

07-25-2023, 01:05 PM	#1
Sue Doe-Nym Senior Member Join Date: Jul 2009 Posts: 1,372 Thanks: 710 Thanked 758 Times in 393 Posts	Reasonable boat insurance? We are thinking of shopping around for new boat insurance as our new annual premium for our boat and 2 older jetskis is just over $1000, which seems exorbitant to us. The boat is a Cobalt 240 with a value of $35,000. Does anyone have any suggestions for a reasonable insurance carrier? Maybe we are being unrealistic. TIA for any constructive comments. Sue

07-25-2023, 02:15 PM	#6
Mr. V Senior Member Join Date: Jun 2004 Location: the left coast (Portland)and West Alton Posts: 1,326 Thanks: 61 Thanked 235 Times in 159 Posts	AARP partners with The Hartford insurance co. and when we enrolled in AARP I checked their rates; I was happily surprised and switched our home and auto policies forthwith. No idea about their rates on boats though. __________________ basking in the benign indifference of the universe

07-25-2023, 04:58 PM	#7
garysanfran Senior Member Join Date: Jul 2009 Location: San Francisco/Meredith Posts: 1,491 Thanks: 604 Thanked 631 Times in 321 Posts	I have good reasons to not recommend Geico, to insure anything. __________________ Gary ~~~~_/) ~~~ ~~~~~~~~

07-26-2023, 08:26 AM	#12
Woodsy Senior Member Join Date: May 2004 Location: Weirs Beach Posts: 1,949 Thanks: 80 Thanked 969 Times in 432 Posts	I have all of my insurance bundles with Allstate... def not the best pricing, especially when it comes to my F-150. But the boat insurance is very reasonable. Woodsy __________________ The only way to eliminate ignorant behavior is through education. You can't fix stupid.

07-26-2023, 12:54 PM	#16
Woody38 Senior Member Join Date: May 2016 Posts: 564 Thanks: 46 Thanked 104 Times in 75 Posts	bad company We had Geico for homeowners back in the 70's. I do not remember the reason; however, we left them and went with AMICA. This company has been great. They wrote us a commercial policy on property we built on Cape Cod when they did not write commercial insurance. We still have homeowners, auto and umbrella with AMICA. Unfortunately, they do not write insurance for classic or antique boats. Thus Geico through Boat/US. Every year they lower the insurance without a corresponding decrease in premium. Seriously will be looking for other coverage. Maybe, the company that insures our house in California. Stay away from GEICO in my opinion.

07-25-2023, 01:15 PM	#2
wentworthwhitbreadIII Senior Member Join Date: Jun 2021 Posts: 53 Thanks: 13 Thanked 22 Times in 16 Posts	Check with Melcher & Prescott. I insure my $35k Formula with them through Chubb. Be very careful and make sure whoever you go with has a replacement cost contract and not actual cash value. Your homeowners insurer may also be an option to bundle coverage. My neighbor is with M&P and bundles it all with Central Insurance Sent from my iPhone using Winnipesaukee Forum mobile app

The Following User Says Thank You to wentworthwhitbreadIII For This Useful Post:
Sue Doe-Nym (07-25-2023)

07-25-2023, 01:41 PM	#3
thinkxingu Senior Member Join Date: Jul 2014 Posts: 5,946 Thanks: 1,154 Thanked 1,963 Times in 1,213 Posts	I'm not sure who you have, but we have everything with State Farm: two cars, a boat, and a $1M umbrella is $1700/yr. With two jetskis (which we just sold/removed), it was $2150/yr. I'm not sure if that's an awesome price, but our State Farm agent is AWESOME and makes shopping around a non-consideration. Sent from my SM-S911U using Tapatalk

The Following User Says Thank You to thinkxingu For This Useful Post:
Sue Doe-Nym (07-25-2023)

07-25-2023, 01:45 PM	#4
tummyman Senior Member Join Date: Aug 2009 Location: Moultonborough Posts: 780 Thanks: 233 Thanked 631 Times in 228 Posts	Try Progressive...my insurance is really inexpensive.

The Following User Says Thank You to 8gv For This Useful Post:
Sue Doe-Nym (07-25-2023)

07-25-2023, 05:00 PM	#8
TiltonBB Senior Member Join Date: Feb 2005 Location: Gilford, NH and Florida Posts: 2,897 Thanks: 644 Thanked 2,153 Times in 900 Posts	I have Geico and Boat US for boats. The premiums seem fair and towing is included. It was posted above that the the agent was awesome. I have the same situation. All my insurance, except watercraft, has been through the same agent for 30 years. He is a nice guy. But, I think as the years go by the agents tend to increase the premiums where they can. I have not looked, but I should, to see what others offer for the same property and umbrella coverage. I also believe that when you look and get prices, you will get a low quote to earn your business but in the following years the premiums will creep up. It is nice if the agent is a friend. but if you already have plenty of friends but not more money than you could ever spend, it might be something to look at.

07-25-2023, 06:00 PM	#9
The Real BigGuy Senior Member Join Date: Apr 2004 Posts: 1,112 Thanks: 109 Thanked 410 Times in 244 Posts	I think when Geico took over underwriting BoatUS insurance they transitioned the BoatUS replacement value policies to actual cost Sent from my iPhone using Winnipesaukee Forum mobile app

The Following User Says Thank You to The Real BigGuy For This Useful Post:
LoveLakeLife (07-26-2023)

07-25-2023, 06:43 PM	#10
tis Senior Member Join Date: Jan 2006 Posts: 6,411 Thanks: 719 Thanked 1,381 Times in 957 Posts	What I would love is to have ALL your insurance under one policy like a business. It would be so nice.

07-25-2023, 07:04 PM	#11
Sue Doe-Nym Senior Member Join Date: Jul 2009 Posts: 1,372 Thanks: 710 Thanked 758 Times in 393 Posts	Thanks for all the constructive suggestions. I will do research on some of these companies , comparing their coverage, and will report my findings. Allstate has our homeowners and auto insurance, so maybe they do watercraft as well. Again, thank you.

The Following User Says Thank You to Sue Doe-Nym For This Useful Post:
winterharbor59 (07-27-2023)

The Following User Says Thank You to ishoot308 For This Useful Post:
Sue Doe-Nym (07-26-2023)

08-22-2023, 09:29 AM	#18
Sue Doe-Nym Senior Member Join Date: Jul 2009 Posts: 1,372 Thanks: 710 Thanked 758 Times in 393 Posts	Boat insurance update Progressive is going to insure our boat and 2 jetskis for approximately half what we have been paying with Markel. Thank you to those of you who chimed in with suggestions….very helpful!

08-23-2023, 04:07 PM	#20
Sue Doe-Nym Senior Member Join Date: Jul 2009 Posts: 1,372 Thanks: 710 Thanked 758 Times in 393 Posts	P.S. on the Progressive We decided to go through Antonucci in Wolfeboro. They have been recommended by several people we know, and they have been very helpful and professional, and that’s a challenge these days.

08-23-2023, 05:17 PM	#22
camp guy Senior Member Join Date: Apr 2004 Location: formerly Winter Harbor, still Wolfeboro Posts: 1,135 Thanks: 284 Thanked 480 Times in 271 Posts	Reasonable boat insurance My experience with insurance, for boats in particular, is to have a comfortable relationship with the Agent representing the carrier, and to ask a lot of "what if..." questions before deciding which Company and what specific policy to purchase. During my life I have stayed away from "1-800..." companies, preferring to use a local Agency and local agent. My biggest hope is that "you" never need to use your insurance, but if you do, having a local agent makes life a lot easier when it comes to filing a claim. Sometimes when an insurance deal looks too good to pass up, that is exactly when it is time to pass it up.