Has anybody here had a claim under Progressive Insurance's replacement value policy where they totaled the boat? Can you give me feedback how that worked out and whether they actually gave you what you paid for the boat as the policy states?

Progressive has an awesome policy, if it is done correctly in the first place. They offer 3 different kinds of coverage's. Actual Cash Value, which will pay you the current value of your boat at the date and time of the loss. Keep in mind what you owe on your boat does not matter. In addition they may incorpoate a depreciation schedule on a partial loss. If you hit a submerged object and the estimate is $4000, you may be responsible for a large part of it. They also offer an Agreed value policy. This means you and the insurance company agree up front to the value of your boat. In the event of a total loss, they will pay the agreed amount on the declaration page. In addition, there will be no depreciation on a partial loss. It will be repaired new for old with no depreciation. Replacement coverage is only available on new boats and only pertains for the first 3 years. The company will pay the amount on the declaration page in the event of a total loss. Or they may buy you a new boat. I'm a marine specialy agent representing a number of companies in 48 states. We only insure watercraft. I have been able to help a lot of the members here to understand what they have and what they should have. I hope this helps. Feel free to give me a call if you have any questions. Thank you. Bob Luellen 800-339-1235

I'll answer my own post for the benefit of others. I paid about $22k in 2004 for my boat and totaled it on Lewisville a few weeks ago. I had purchased the replacement policy from Progressive that was to pay the full cost of the boat.

Today Progressive paid off as promised. One check to the bank for what I owed and the rest to me for the full cost of what I paid in 2004.

This is exactly why I'm on this site. If the policy is written correctly in the first place the claim process is usually very easy. It is important to be comfortable with the agent and the experience he has with watercraft. I would recommend a marine specialty agent like myself. All they do every day is watercraft. I'm glad your experience went the way it should have. Thanks Bob Luellen 800-339-1235

I used Progressive's toll free number without using a marine specialty agent when I bought the policy and it went fine. Only cost about $200 per year.

Which policy did you Purchase?

I have Progressive for my auto, home and boat. I have made a claim on my boat hit somthing in the water and locked up the motor (no hassles!) had an accident in my vehicle my fault!? had a pay off check within three days. When I had the boat accident I took it to Eagle marine in Fort Worth, the first question from John was who are you insured by. my answer was progressive, his comments THANK GOD! he say the others are horrible and he never had a legitimate claim turned down by progressive. I am a believer!!

+1

I too am with progressive on 2 boats I did find for the same coverage from indepedent insuring through progressive I saved $600 a year on both boats combined by calling progressive my self. If they pay out on claims like they did on my motorcycle accident when needed I will be happy. They were great to deal with then very helpful.

I'm really glad to see that Progressive is pretty good on boat insurance. NTM recommended an insurance provider to me which I initially went for, but when I checked online and got a quote from progressive it was quite a bit cheaper. I ended up getting a years worth of the max insurance coverage for my boat for only 1057 dollars for the whole 12 months.

I did it all online, I sure hope that by doing it all online doesn't have any adverse effects if I need to make a claim!

I started a claim with Progressive today. I hit a stump at Fork and bent my prop shaft and cracked the skag. I made one call to 1-800-progressive and gave the lady a quick version of me hitting the stump. She asked if I was hurt and I told her just my feelings and she said a claims adjuster would call me back within 2 hours. I got a call about 30 min later and the man took a statement and is coming to my house tomorrow to look at the boat. He say's I can then take it to repair shop of my choice. He does want to look at the shaft on a bench with dial indicators once the shop has it removed. I am hoping for a new lower unit because mine now makes an evil sounding squeal as the prop rotates. I can only imagine gears and bearings just chewing themselves up in there. I guess I will know more tomorrow.

I heard this somewhere before.

I haven't had one problem with them on a claim.

Did they take care of you ????