Boat Insurance

[donbarile]

Anyone have any recommendations on boat insurers? We're talking about a Zodiac, engine, trailer and about 15k in dive gear ( good grief.... it really added up to that... ). I'd like to be covered on actual replacement if the thing is either stolen or worse. Any experiences with any insurers to steer clear of?

Don

 

[ChrisA]

Anyone have any recommendations on boat insurers? We're talking about a Zodiac, engine, trailer and about 15k in dive gear ( good grief.... it really added up to that... ). I'd like to be covered on actual replacement if the thing is either stolen or worse. Any experiences with any insurers to steer clear of?

Don

You may be covered under your home owners policy. I'm pretty sure Alstate will sell you what you want. I don't know if the marine insurace companies will handle a boat as small as a zodiac. My marine policy treats the inflatable and outboard as "misc. equipment" and per dollor covered has very high rates. For example, I can get $100,000 of coverage for loss of sailboat hull for about $600 but to fully cover the inflatable and otboard (which I store on the larger boat) would cost me another $600 and the dive gear even more and that's with a $1,000 deductable. West Marine or BoatUS will sell you a marine policy but watch the price.

You may also want to read any marine policy _very_ carfully as it will have exclusions for all kinds of things like "seamanship". Which says that if you do something stupid with the boat you are not covered. (stupid meaning not knowing all the rules or failing to have ALL the Coast Gard required equipment aboard.) as soon as you buy a marine policy you are dealing with maritime laws. Getting an amendment to a home owner policy will lilkely be the best option for a small boat and $15K of gear. Such an amendment should be only a few hundred $. If you are not a homeowner Alstate and Farmers sell renters policies. I'd say that';s the way to go.

Oh, and make sure you get liability insuranc and medical too.

 

[darkpup]

Hi Don,

I have two sail boats that I insure through State Farm. The coverage covers the replacement/repair cost of the trailer, boat, and motor along with sails and other miscellaneous things on each boat. Ones a 22 ft. Catalina (on a trailer), and the other is an O'Day 27 (a bit bigger). I think the per month cost per boat is in the $15 to $25 range, and the small boat with partners is the one that costs the most (even though the vaule of the boat is a 1/3 of the larger).

Our dive gear is covered by our renters insurance, and I'm not sure if boat insurance would cover the cost of dive gear.

I would suggest talking to a few insurance companies, get some quotes, and see what they cover. State Farm gave us a good deal on our coverage since we have cars, motorcycles, and renters insurance through them. There are other boat only services (U.S. Boats or West Marine) that also provide coverage, but for us, State Farm seemed like a better deal. The only thing that we don't have is towing insurance, but on power boats, it can come in handy.

Hope this helps.

~ Jason