So I use All State for all my insurance. I have had issues before with them. But a TFF fishermen/insurance agent. Help me out! Well my brother has had Geico for about 5 months. He asked all the right questions to the agent. He got the policy he was described. He thought! Was out on lake hit stump. Got lower unit and prop. Had chunk broke off rear bottom of boat. So call Geico, took it to shop. Have price for repairs. Just so you know. Skeeter 300z 225 hp merc. Agreeded value 10,500 . So Geico says his claim is ready. And gives the quote price they agree. For repairs. Then adjust for deductible. Then devalue the boat and motor. 90%. So the whole claim minus deductible. They will pay 10% of repairs. That would basically equal to premiums. I can understand 20% or even 30%. But 90 % pays for what? Should have got All State!!

Damn that sucks

Geico is not a good insurance company to deal with.

I know for HomeOnwers Allstate and Farmers are horrible

USAA is awesome, State Farm / Liberty Mutual are very good

Not good! I have Geico thru USAA, what is a good boat insurer?

I have progressive and hope I never have to make a claim.

That sound like some shady stuff to me, they should have valued the boats before issuing the policy. With what you stated they should have totaled the boat out. Progressive has always been goo to me so far.

Do you have an ACV policy? what year is the motor?

I think it would be false advertising. To buy insurance and only cover 10% in 4-5 months of policy! I bet if it had a Lien against it. The bank wouldn't settle for 10% of the note.

It's a 97' with 97' motor. Agreed value was 10,500$

I had insurance with Geico and had the trailer come off my truck which resulted in quit a bit of damage to my boat and trailer. The boat didn't look to be damaged all that bad but turned out it was more than it looked like. The adjuster totaled the boat, to make a long story short Geico payed me the insured value of the boat less the deductible and even reduced the deductible due to number of years with out a claim. I received my check in just a few days and could not have dealt with a more professional group of people. The fiberglass shop that did the estimate of repairs told me that Progressive was the worst to deal with but that would be hearsay.

Definitely has an ACV policy. That's a depreciated value policy. If it's a 97 model, they're assuming it's lived 90% of it's life. So many people have these policies and never even know until they have a claim. Everyone! Make sure you have RCV policies for everything! They're only a few more dollars per month and you don't get depreciated value for claims. You get Replacement Cost Value.

Remember Geico spends $1,000,000,000,000 that's one trillion dollars on marketing each year. can't be giving you any money.

My lower unit went out on my skeeter and GEICO paid in full minus the deductible.

They don't spend a trillion dollars on ads!!!! Don't be ridiculous

I would watch State Farm too....
I have had them since 84 without a single claim and in 2006 when my boat was broken to on my driveway and all of my rods and reels were stolen, they wouldn't cover it because they said the rods and reels weren't part of the boat... then they turned around and said that if it had been skis and such that would have been covered. What????? Their not part of the boat.... Luckily my home owners insurance gladly took care of it for me..