Boat insurance

I know this is discussed quite a bit but what is the best insurance company to use for boat insurance? I'm currently using Geico Marine and received my policy update and the rates went up dramatically, $23 more a month than last year. I have only filed one claim for a lost tackle bag in the the last 5 years. I think it's time for a change!

I use Geico and found their rates to be about half of what St. Farm was on a comparison of equal policies. I have been satisfied but have never made a claim.

How much was the claim for?

I filed a claim with State Farm on May 8, I know boats are low on the list in this area this month, but at least a phone call would be a start. I actually had to call in last week to find out the steps I need to take to get my end of the process started.

change every year

I went from State Farm to Allstate last week. Exact coverage, dollar for dollar, and the rate went down 20%.

I just got finished at the first of the month doing the same thing. I switched from State Farm to Allstate on vehicles but stayed with state farm on my boat and house. Allstate was gonna be $400 a year more on the boat than state farm with less coverage. I have not had a boat claim in about 10 years. Good friend just bought a new Phoenix and he had to change cause State Farm wanted 2X more than anyone else. Just gonna have to get on the phone and call.

I didn't have much choice. My sons driving record caused my wife and I to be "non-renewed" on our vehicles. They didn't cancel my houses and boat. Just the cars. So I went to Allstate and switched EVERYTHING to them. The vehicles went up slightly, the houses went down as well as the boat. They took my State Farm policies and switched covereage to them dollar for dollar. Net savings is almost $1500 a year. I had no claims on my vehicles (with respect to my son, who is aspiring to be a NASCAR driver), houses, or boat. So, to me, I felt the non-renewal was unjustified. But, it's business. I guess.

Kinda makes me wonder how much money I wasted having StateFarm for 32 years. Ha

Just switched from World Wide Marine to Foremost and saved $296.00 with a few minor adjustments, it pays to shop around!

You gotta shop these fools every year. They're counting on you just signing up, at the new premium, without question.

You must've had a lot of valuables in that tackle bag though.

I use Progressive, thru USAA. I had a 12k claim last year and my rates did not change when I had to renew this year.

I use World wide marine also talk to them Bob will take care of ya.

Progressive, through an independent agent who I use for all assets. Progressive only insures the boat but their rates were much lower than the rest. Paying $300 per year for 100/300/100, 5k personal, towing, uninsured, and 5k fishing equipment.

I dont get involved in the insurance topics and usually wont even open them lol. Everyone talks about price over coverage for the most part. Everyone’s rate is different. Just because your buddy pays x amount of dollars does not mean you will get a similar rate there are lots of specific rate factors that all company’s use like credit/consumer reports, loss history, speed, what brand of boat etc etc. I do like to help anglers with boat insurance though so i am going to leave a few key factors here for you to ask about when shopping insurance that could mean the difference in major claim issues then I won’t post on here again. All policies are different remember that too.

does your company cover your power poles, electronics, trolling motor as part of the boat or does it cover it under personal effects?

Do you have replacement cost, actual cash value or agreed value on your boat?

Do you have replacement cost on your tackle and personal property or actual cash value?

How much is your trailer insured for?

What is my liability limit?

Are you getting a triple discount on home and auto and boat?

Do you have permissive use coverage if someone else borrows the boat even immediate family?

I could go on but I am sure you see where I am coming from. Price is important for sure i agree 100%. I just urge people to think more along these linse when shopping any of their insurance . Have a grerat Memorial Day weekend and remember what it stands for. GO FISHING!!!!! If I can ever help feel free to call 903 575 0000

That's like going from a Diawa Steez to a Zebco 33. Allstate blows

USAA is the best out there, and I have never seen better Customer Service. I don't have them but work a lot of insurance claims, I have even had their adjusters thank me for taking care of their customers.

I can't say enough good things about them.

Insurance depends on how many policies you have and how long you have them. I have had Allstate for 35 years, have 6 policies with them so I get maximum discount on everything. I have replaced 3 lower units and one had 1 boat listed as totaled (they paid me for the loss then gave me the boat back saying they had no use for it). I have a 250.00 deductible. My rates have never really gone up enough to matter about it. Whenever I have filed a claim on the boat their service has been beyond reproach. Always received a check within a week.

There is a separate forum for this.

Amen and true.



Amen and true.

This^^^ $50,000 boat coverage, $10,000 in personal gear & $300,000 personal injury. Also(very important) $50,000 is the insured value so in the unlikely event of a total loss that is paid value not some depreciated value. I was paying $1000 a year with State Farm and World Wide cut it in 1/2. $500/year. No claims in a couple years but have heard they pay when needed. Ask for Bob Luellen but anyone there can help you: http://worldwidemarineins.com/

Exactly!!!! i do the same with cell phone companies. Being loyal to a company really doesn't get you anywhere because i promise, most will never be loyal to you.

He saved me (ahem) a boat load of money and I got better coverage to boot! Call Bob for a quote, won't cost a thing.

Ditto.

alot

you're in good hands with allstate.....if you've got a good attorney....had cars,boats and home owners with them for 20 plus years...2 claims and I had to get an attorney both times to make them pay off....had lot of hail damage in my neighborhood a few years ago.....adjustor didn't show up when he was supposed to then acted like a jerk when he did come....had a roofer friend confirm I didn't have any damage but decided I'd had enough dealing with allstate and went with farm bureau....

The tackle bag had a full tray of lc cranks, Norman cranks(3 trays), all my tungsten, hooks and other terminal. To much to list but it was right at a $1000. And actually, that bag was lost two years ago.

Thanks for the input, guess I'll be shopping.

This is by far the most educated answer on here. Cheap does not always equal good. You get what you pay for in life, and that includes insurance.

There are so many variables in insurance prices now from company to company (credit score/open accounts, driving record, experience, claims, amount of premiums paid vs money paid out, number of vehicles, age, having multiple policy discounts, affinity discounts, and who knows how many more) that there's no way to say one company is going to be cheaper for everyone.


If you ever need a policy looked over in the Tarrant/Hood/SomevellJohnson area feel free to give me a shout. I would love to help out as well.

-
Bruce
817.326.2241
Texas Farm Bureau
325.998.5087.

Me personally I wouldn't file a claim that small, My reasoning is the insurance rate that will probably come will eat away that check.

I have only done one claim on my boat and it was for around 7K, and dropped coverage a few years afterward but never got a rate increase.

Insurance is one of the oldest industry in the USA, they are not going to loose money.

Yep It appears as if Allstate is a PITA now of day, I see people who do roof complaining how bad they are. From my personal dealing I would never use Allstate.

I was talking to a Water Restoration company last month and I asked them whom was the worst insurance they had to deal with and Allstate took that honor

Been with Foremost for 10 years

I had 4 claims over that time span (2 of them with in 6 months of 8K or more) and have never had any increase.

All claims were simple and painless.

Only problem with USAA as they do not write boat insurance. It is subbed out to Progressive which doesn't have the best reputation

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Progressive said no thank you and guess who my agent was _ _ _ ? You guessed it !

I use Travelers, I had two claims last year, one for the power head and the other for the lower unit. They covered both claims quickly and my rates went up $30 per year. I could not be happier with their service and cost.

Foremost has been great for me I had 3 claims over 3 years. Called them up told them what happened and where the boat was. They fixed everything hassle free. My rates did go up but I can only blame myself for hitting stumps. I am still with them.