|
|
|
|
|
|
|
SUBJECT: # 36729: For the umptenth time - boat insurance.
Submitted by Redfish from NORTH CAROLINA on 1/16/02 6:58:00 PM
I went back and read all the posts on boat insurance. Some people from NC recommended Chris Main from Progressive. Some FMI and Chad Tippett. Third was Boatus. Some said go with your homeowners. Most said get full replacement value for a little higher premium. Comments,observations,opinions from the peanut gallery?
- 1/16/02 7:26:00 PM
Submitted by
Uncle Pauper (205.188.200.23) from ILLINOIS says Progressive quoted me a ripoff rate
Everyone raves about Progressive but when I called they shot me a price 3 times as high as anyone else. FMI I've never heard of; BoatUS seems competitive and their "yacht" policy offers an agreed cash value. I have my boat insured with American Family since I have my car and health insurance with them. They have a very good reputation for paying but I'm not sure if they operate in NC or if they will cover anything on coastal waters.
- 1/16/02 7:37:00 PM
Submitted by
bonefish from TENNESSEE says Progressive
Funny, I have Progressive coverage on $30,000 stated value, liability, etc., for a premium of $340 yearly. I know that's a good rate and had a claim last year with no rate increase.Maybe they don't like you, Uncle Uauper...
- 1/16/02 8:56:00 PM
Submitted by
fishsmart from TEXAS says Variations
Progressive was 75% of BoatUS. Plus they have both agreed value and replacement value options. You might want to look at their bid on a line by line basis to see where major differences occur.
- 1/17/02 7:44:00 AM
Submitted by
Fish Hunter (208.150.116.111) from NORTH CAROLINA says Insurance
Try the local Farm Bureau company. Competetive and easy to deal with.
- 1/17/02 8:16:00 AM
Submitted by
ElectricTroutman (208.223.9.36) from TEXAS says State Farm
I started out with a policy from SeaHorse Underwriters (sold through independent agents). After they raised their rates twice in two years I checked a bunch and found that State Farm had far and away the best rates...about 60% of the second best quote.et
- 1/17/02 8:20:00 AM
Submitted by
Squid Vishes (171.159.192.10) from VIRGINIA says Also try AMICA
I have Amica. My price is good and includes TOWING at no extra cost. Never had a boating claim, but have had auto and homeowners claims and they are top rate. They are rated very high by Consumers Reports, too. www.amica.com
- 1/17/02 10:22:00 AM
Submitted by
boat_money from TEXAS says progressive
at 35K and i pay 750. my dirving record has a wreck or two on the road and that effects it as well.
- 1/17/02 11:10:00 AM
Submitted by
Uncle Pauper (64.12.103.48) from ILLINOIS says State Farm is cheap
State Farm gave me the best rate. After 3 months I did not have a contract in my hands or any confirmation of coverage, after I was told several times that it was on its way. When all was said and done, I got my money back in full and the Better Business Bureau had a record of the incident. It was probably a fluke because I hear mostly good things about State Farm; I just decided it was time to pull my money out since they couldn't give me any answers......U.P.
- 1/17/02 12:20:00 PM
Submitted by
KenG (65.196.105.171) from NEW JERSEY says State Farm
I have State Farm, which also has my other policies. I have compared their rate several times to Boat US and West Marine, and it is always less, plus it includes $500 towing. I have made several claims (engine replaced, towing, and hull damage from another boat), they always paid up quickly, but after the fourth claim, they forced me to move up to a $1000 deductible, which was fine with me anyway. It is replacement value - I do not believe they offer an agreed value policy. One headache is that they charge based on the current replacement value of the boat, but never reduce the premium as the boat gets older, so every year I have to keep getting a quote from NADA to prove the boat is worth less, and thus get a lower premium.
- 1/17/02 9:24:00 PM
Submitted by
Dr jet (24.25.62.238) from NORTH CAROLINA says Hey keng
Tell us about the engine replacement claim. I've heard very different stories about how this process is suppose to work and how it really works.
- 1/18/02 12:29:00 PM
Submitted by
KenG (63.106.133.120) from NEW JERSEY says Engine Replacement
Yeah, that was interesting. I had an I/O at the time, standing at the helm, ran through some seaweed which got sucked in the intake, and never saw the engine overheating. Next thing I see is smoke coming out the hatch, figure there is a fire, so I turn off the engine (bad move in hindsight) and find out the rubber boot to the exhaust elbow is burning. Got it started, but had problems all summer and finally got it magnafluxed and found a small hairline crack in the cylinder. Didn't think much about it until a buddy said he got his powerhead replaced when a piece of plastic blocked his intake, due to hitting an "underwater object" which was covered by his policy. So, I figure the seaweed was an underwater object, and filed the claim. State Farm sent someone out to look at the engine, talk to the mechanic, and then they paid for the equivalent of a rebuild ($3000). I took the money and used it for a bigger block. They didn't give me any hassle at all. My policy was pretty vague on the whole issue, not having "underwater object" specifically mentioned, so I figure they have to pay out a certain number of claims anyway, and I was one of them. Ken
