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Discussion Starter · #1 ·
Just took the plunge and I'm it the process of buying a 2004 Crestliner 2050 Sportsman to fish the Bay. Does anyone have any advice about boat insurance? - What level of coverage do you carry?, Is it seasonal insurance? Best companies to insure through? Is towing included or do you get a rider for that? etc...... I requested a quote from my existing agent at Farm Bureau insurance and it is obvious that he doesn't deal with insuring boats very often. Also; did they require you to get an appraisal in order to get your existing insurance policy? Thanks in advance for the feedback..... Jim
 

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Just took the plunge and I'm it the process of buying a 2004 Crestliner 2050 Sportsman to fish the Bay. Does anyone have any advice about boat insurance? - What level of coverage do you carry?, Is it seasonal insurance? Best companies to insure through? Is towing included or do you get a rider for that? etc...... I requested a quote from my existing agent at Farm Bureau insurance and it is obvious that he doesn't deal with insuring boats very often. Also; did they require you to get an appraisal in order to get your existing insurance policy? Thanks in advance for the feedback..... Jim
i have farm bureau and i listed my boats on my home owners policy. they have you list boat,motor,and trailer seperatly according to value..it is covered year round..
 

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Just took the plunge and I'm it the process of buying a 2004 Crestliner 2050 Sportsman to fish the Bay. Does anyone have any advice about boat insurance? - What level of coverage do you carry?, Is it seasonal insurance? Best companies to insure through? Is towing included or do you get a rider for that? etc...... I requested a quote from my existing agent at Farm Bureau insurance and it is obvious that he doesn't deal with insuring boats very often. Also; did they require you to get an appraisal in order to get your existing insurance policy? Thanks in advance for the feedback..... Jim
I had my 2001 18' Starcraft insured through Farm Bureau with coverage for the boat and trailer. When it was totaled they gave me exactly what I had the boat insured for plus money for the trailer and they also did pay for the towing which was almost $1,000 for towing and storage. Once they paid they settled with the agreement that I had to dispose of the boat as they would not pay any more storage fees. I was able to sell some of it and recoup some of my loss. It was covered year round in case anything happened while I had it stored. You will find that most storage places do not keep insurance on anything but their building as it would cost them more than they make for the storage. I checked on that when I was storing boats and vehicles for people in the U P. Insurance carrier said they wouldn't insure other peoples property in my buildings.
 

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Discussion Starter · #4 ·
I had my 2001 18' Starcraft insured through Farm Bureau with coverage for the boat and trailer. When it was totaled they gave me exactly what I had the boat insured for plus money for the trailer and they also did pay for the towing which was almost $1,000 for towing and storage. Once they paid they settled with the agreement that I had to dispose of the boat as they would not pay any more storage fees. I was able to sell some of it and recoup some of my loss. It was covered year round in case anything happened while I had it stored. You will find that most storage places do not keep insurance on anything but their building as it would cost them more than they make for the storage. I checked on that when I was storing boats and vehicles for people in the U P. Insurance carrier said they wouldn't insure other peoples property in my buildings.
Deer Slayer,
Thanks for the feedback. How did you go about determining the value of the boat that was to be insured? If you go to the NADA Boat Appraisal website; the appraisal value is way less than the market value. Did you insure it for what you paid for it? Thanks again.
 

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I am through Progressive (referred from USAA) I have a stated value policy of $56,000 with a premium of $276. I also have a rider for gear included in that for another $4,000. They nice thing about Progressive is they have the vanishing deductible so that helps in the premium amount. I also have inner costal towing up to 100 mile (sign and glide) and the motor is covered. You can check with Bob Lullen at World Wide insurance out of Grand Ledge 517-627-8080 he is not my agent but a lot of others have him.
 

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Deer Slayer,
Thanks for the feedback. How did you go about determining the value of the boat that was to be insured? If you go to the NADA Boat Appraisal website; the appraisal value is way less than the market value. Did you insure it for what you paid for it? Thanks again.
No, I paid 16,000 for it in 2001 and lowered it to 10,000 for the boat in 2012. It was totaled in 2013 and I found out that to replace it would cost way more than what I originally paid for it. I figure I made out fairly well as I don't think I could have sold it for any more than what the insurance paid for it. I did not go to the NADA boat Appraisal site as I probably should have but I still think I was treated fairly. Got 11 and replaced it for 26,000 with a used one. Could have been worse especially since the accident happened 2 months after open heart surgery which did not make the cardiologist very happy.:hide: I did not have the rider for the gear that was mentioned above but as it was I did not lose any gear. It just really got messed up when the boat flipped on its top. Took me like two days to straighten out my tackle box but nothing was ruined.
 

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No, I paid 16,000 for it in 2001 and lowered it to 10,000 for the boat in 2012. It was totaled in 2013 and I found out that to replace it would cost way more than what I originally paid for it. I figure I made out fairly well as I don't think I could have sold it for any more than what the insurance paid for it. I did not go to the NADA boat Appraisal site as I probably should have but I still think I was treated fairly. Got 11 and replaced it for 26,000 with a used one. Could have been worse especially since the accident happened 2 months after open heart surgery which did not make the cardiologist very happy.:hide: I did not have the rider for the gear that was mentioned above but as it was I did not lose any gear. It just really got messed up when the boat flipped on its top. Took me like two days to straighten out my tackle box but nothing was ruined.
My homeowners is thru Auto-Owners - They cover boat - motor - trailer and contents.
 

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My homeowners is thru Auto-Owners - They cover boat - motor - trailer and contents.
Do they cover it on the water for things like if you hit something and tear off your outdrive or it sinks? I haven't looked into boat ins. on the one I have since its not worth a lot, but have the towing off the water ins. only through Boat U.S. The next boat I get will more than likely need to be insured. Will have to look into that since Auto-owners is who I have my house,vehicles,and snowmobile through.
 

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Do they cover it on the water for things like if you hit something and tear off your outdrive or it sinks? I haven't looked into boat ins. on the one I have since its not worth a lot, but have the towing off the water ins. only through Boat U.S. The next boat I get will more than likely need to be insured. Will have to look into that since Auto-owners is who I have my house,vehicles,and snowmobile through.
Yes - They covered everything when I hit a submerged object last summer - including refinishing the prop.
I did not sink - but had some damage to the shaft on the outboard - 130 hp Johnson.
 

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Do they cover it on the water for things like if you hit something and tear off your outdrive or it sinks? I haven't looked into boat ins. on the one I have since its not worth a lot, but have the towing off the water ins. only through Boat U.S. The next boat I get will more than likely need to be insured. Will have to look into that since Auto-owners is who I have my house,vehicles,and snowmobile through.
Mine was covered on the water also and also covered damage and injuries to others in case you hit them or something.
 

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Mine was covered on the water also and also covered damage and injuries to others in case you hit them or something.
The one item I am extremely concerned with is liability - I have a million dollar extra liability - friend of mine did not see a child swimming and ran over him. - Bankrupcy was the final outcome. Something to consider.
 

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Mine was covered on the water also and also covered damage and injuries to others in case you hit them or something.
The one item I am extremely concerned with is liability - I have a million dollar extra liability - friend of mine did not see a child swimming and ran over him. - Bankrupcy was the final outcome. Something to consider.
 

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The one item I am extremely concerned with is liability - I have a million dollar extra liability - friend of mine did not see a child swimming and ran over him. - Bankrupcy was the final outcome. Something to consider.
Wow, that's terrible! Thanks for the other info. I know they seem pretty good on everything else, they even said if my snowmobile went through the ice it would be covered.
 

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The one item I am extremely concerned with is liability - I have a million dollar extra liability - friend of mine did not see a child swimming and ran over him. - Bankrupcy was the final outcome. Something to consider.
I have liability but it is standard amount of $300,000.
 

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Discussion Starter · #17 ·
Thanks everyone for the feedback & insight - I have some phone calls & follow up to do at work tomorrow. I can't wait to get back out on the "big" water - I sold my 19' Center Console Sea-Nymph 18 years ago and ice fishing Saginaw Bay the last couple of winters has given me the fever again (Not to mention; I've almost recovered from funding 2 college educations).
 

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Thanks everyone for the feedback & insight - I have some phone calls & follow up to do at work tomorrow. I can't wait to get back out on the "big" water - I sold my 19' Center Console Sea-Nymph 18 years ago and ice fishing Saginaw Bay the last couple of winters has given me the fever again (Not to mention; I've almost recovered from funding 2 college educations).
Check with your homeowners carrier first. Some will automatically include liability for outboards up to a certain horse power not IO's. Physical damage will have to be purchased seperateley ask if it is agreed amount, also ask if the electronis are considered part of the boat. Your homeowners policy may cover your tackle. Towing may be optional coverage.
 

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Some homeowners will extend coverage to a boat/trailer, some do not. The company I work for does not and boats have to be placed on separate policies. We typically place all of them with Progressive as they offer a good all around policy with competitive rates.
 

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I have my boat insurance through Liberty Mutual. It under my home owners premium. Make sure when you talk to your agent, you get "underwater obstruction Coverage". Also ensure you get "agreed value" coverage.

Additionally, check into a company called "Blue Water". I carry two separate riders on my boat from this company. One of them is for the boat, motor, and trailer. If I am traveling someplace and a wheel bearing comes lose, they send someone and fix it ($25 dollar deductible). I Need my boat towed (while on the water) $25.00 deductible. If I need it stored while it is being worked on, storage is covered. If the motor blows up as a result of something other than normal maintenance... $25.00 deductible. Pretty much anything you can think of that could happen to a boat, motor, or trailer.

Also, the second rider is called "the sportsman Pack". It covers everything within my boat that is related to electronics. If one or both of my fish finders go bad, my battery charger, my VHF radio, my antenna... I pay a $25.00 deductible and it is covered (no questions asked). Small price to pay for the amount of money we put in to electronics.

As a side note: this is hard to do for all of us but..... you HAVE to save your receipts. It is the only way to prove what you have on or in your boat in the event of a claim. I keep a folder at my desk at home for my boat. Every purchase (big or small) goes into that folder. If my boat was stolen, I could tell you the value of every rod, reel, fish finder, chart plotter, trolling motor etc... that is onboard. Yes, it is tough, BUT, it is the only way you can get replacement value for something. Otherwise, you are stuck with assessed values.
 
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