Boat Insurance?

[PDX-Boats]

I'm about to purchase my first Grady. It'll be a 2008 305 Express.
Would anyone be willing to share their experience with insurance for their boats?
Any particular strategy for getting good coverage that doesn't' completely break the bank?
My thoughts were around a basic policy with an additional umbrella policy but not sure that is doable.
Any thoughts around what's worked best for you?

 

[seasick]

You can get quotes online or on the phone from multiple sources, Progressive, Boat US, Geico etc etc.
There are companies that specialize in boat insurance. There are a slew of them also. Just search the web
Regarding an umbrella policy: If you need one, the boat is not the reason. An umbrella policy will cover what your auto, home and boat insurance doesn't cover up to the limit of the umbrella policy. That said, most umbrella policies requires insurance policies have more than basic coverage limits, oftentimes they require the maximum limits that the companies offer.
My point is that your possible need for umbrella coverage is not directly related to owning a boat.
These required limits apply primarily to liability coverage. Comprehensive coverage for damage or collision is a different issue. A lot of factors affect rates, some obvious and some not so. Many insurance companies today use your credit score as part of the factors determining your rates.
Of course the value of the property is a major consideration as may be your driving (auto) record, etc.

Shop around, prices can vary widely. Some companies may discount a bit for policies on autos and boat, some even for homeowners insurance if that applies.

 

[PDX-Boats]

You can get quotes online or on the phone from multiple sources, Progressive, Boat US, Geico etc etc.
There are companies that specialize in boat insurance. There are a slew of them also. Just search the web
Regarding an umbrella policy: If you need one, the boat is not the reason. An umbrella policy will cover what your auto, home and boat insurance doesn't cover up to the limit of the umbrella policy. That said, most umbrella policies requires insurance policies have more than basic coverage limits, oftentimes they require the maximum limits that the companies offer.
My point is that your possible need for umbrella coverage is not directly related to owning a boat.
These required limits apply primarily to liability coverage. Comprehensive coverage for damage or collision is a different issue. A lot of factors affect rates, some obvious and some not so. Many insurance companies today use your credit score as part of the factors determining your rates.
Of course the value of the property is a major consideration as may be your driving (auto) record, etc.

Shop around, prices can vary widely. Some companies may discount a bit for policies on autos and boat, some even for homeowners insurance if that applies.

Thank you for the reply and advice!

 

[igblack87]

I have Amica. Great coverage. Call for a free quote!

 

[ocdansar]

Most marinas require between 3 and 500000. In liability. Liability insurance is the cheaper of the coverage you will want. Iam pricing it for a 330 express right now and raising the liability part of the policy makes very little difference compared to the agreed value of the boat which makes a big difference in price.

 

[Cregan13]

I have Progressive. I went to USAA, and they send their members out out to Progressive rather than write it themselves. The Progressive website was great. You can fiddle with the coverages and deductibles and see what the resulting premium will be. It makes it easy to get pretty much the exact coverage you want.

 

[seasick]

I also have Progressive. I can't say if it is the cheapest but I never had any issues. That included a claim from Sandy damage. Their response back then was excellent.
I will comment that after Sandy and every year after an active hurricane season, the rates have gone up. I kind of balance the increases by lowering my agreed upon value. Don't low ball but be realistic. My boat that I have had for 14 years is not worth what it was insured for back then

 

[g0tagrip]

I have Allstate, it was cheaper than Progressive for the same coverage. Shop around, most companies want your business.