What type of coverage do most have on your boats? 21-23 foot range centerconsole.
Strickland marine offers most of your best options for inshore boats.
For the larger offshore stuff Boat US seems to have the better coverage. I’m not sure on specifics, but I have a lien on mine so whatever that requires. Strickland didn’t have reasonable prices for the latest boat, so this is my first with Boat US.
*** World Cat 266 SC ***
State Farm beat everyone for me…including Strickland, BoatUS, Geico, and USAA. Mine’s “custom” and an agreed upon coverage value.
Wadmalaw native
16’ Bentz-Craft Flats Boat
Not sure of my limits (they’re high though), but I’ve got Progressive and it was a good bit cheaper than anywhere else I could find, including all the usuals. 2014 Scout 195 w/ Yamaha F150 and it runs me about $350/year. Just did my annual shopping around and Geico was about $475 for same policy.
be careful using auto companies for boat insurance. sometimes they are cheaper, but are very limited on what they pay when things like a sinking take place.
just compare the real coverage numbers.
we have seen people lose money after the salvage bill is paid when using allstate, state farm, etc.
www.teamcharlestonmarine.com
www.bombislandboats.com
IF I RESPOND IN ALL CAPS, ITS NOT ON PURPOSE, AND I AM NOT YELLING
Chris v… who would you recommend? It’s not my first boat so insurance is nothing new. It is a boat that will be used more offshore and inshore then my past boats.
quote:
Originally posted by chris Vbe careful using auto companies for boat insurance. sometimes they are cheaper, but are very limited on what they pay when things like a sinking take place.
just compare the real coverage numbers.
we have seen people lose money after the salvage bill is paid when using allstate, state farm, etc.www.teamcharlestonmarine.com
www.bombislandboats.com
IF I RESPOND IN ALL CAPS, ITS NOT ON PURPOSE, AND I AM NOT YELLING
Chriss…could you explain this in a little more detail ? I have State Farm on my Key West…just wondering if I should make an adjustment.
2003 Key West 1720 Sportsman
2016 Ocean Kayak BG2
If you fish offshore some insurance companies restrict their coverage to be within X miles of shore. I would specifically ask this question when shopping or if you didn’t before agreeing to a policy.
Dark Star
Having sunk a boat two months ago and bickering with insurance company for the last 2 months on a settlement. Make sure you read the fine print on the type of policy and your amount of coverage.
On any boat policy going forward, you can bet your a$$ I will have an “agreed to value” policy and not an “actual cash value” policy.
actual cash value ='s whatever their little blue book says boat is worth no matter what you put into your vessel. When I first put policy in place, I requested and was paying premiums on the amount of insurance that I dictated/requested. Boat sank and they were only willing to pay 2/3 of what the boat was worth and what I had it insured for. Kicker was it was an ACV policy (what they feel like its worth).
“agreed to value” is where you pay premiums on the amount of insurance you and the insurance company agree to. If boat is totaled they cut you a check for that amount no questions asked.
To me, I don’t mind paying a little more premium for piece of mind. Trust me, when the dookie hits the fan, you dont want to be reaching for your policy/fine print to see how bad you are about to be screwed in a total loss situation.
“Endeavor to Persevere.
Give,Give… Never Take.”
EC
Some times policies do not separate boat value from total expenses.
boat is worth 20k, they cover 20k
salvage is worth 5k
you get a check for 15k
other times the put an unrealistic cap on salvage.
boat fire at Ashley marina a few weeks ago…
boat had $26k in recovery insurance
just the barge and crane was $33k
www.teamcharlestonmarine.com
www.bombislandboats.com
IF I RESPOND IN ALL CAPS, ITS NOT ON PURPOSE, AND I AM NOT YELLING
I remember why I went to boat US now.
The range was the issue. Most insurance companies don’t cover going all the way to the stream. I had to correct them twice when they sent over the insurance binder before it was correct.
Also, I had to have the “agreed upon” value, since my boat is old and book value isn’t accurate.
Luckily the guys at the bank educated me when I was getting the financing.
*** World Cat 266 SC ***
Thanks guys. That’s some of what I was looking for.
Search out breadandbobbers on here
bulletsrcheap
I had Progressive for the last 15 years. This year when I got my bill it was double , I called and asked the problem, they said because I have not borrowed any money in the last 10 years my credit report was not good so they doubled my bill for the same coverage, I never had a claim, so I told them where to put the policy!
Charter Lakes has always given me the best coverage for the price. Always had an agreed value policy with them.
I use strickland and have agreed upon value. Very satisfied
2020 CC Key West
Mako 243 W/Twin Suzuki DF 175’s
Charter Lakes had the best rates for me. Agreed upon value. Their policy comes in a pamphlet and is easy to read/understand.