View Full Version : Attention Canadians

02-19-2010, 08:30 PM
What r u paying for boat insurance?
I just got my first quote and they were saying 960.00, I told her to shop it around cuz she was out to lunch. She asked me a funny question though. "what is the value of the boat engin, she said maybe half the cost of the boat, I figured matbe 12000 tops... any idea ?
boat replacement is about 58000 including trailer.

02-19-2010, 09:26 PM
570 for a 09 21v supra worlds with 1,000,000 tow sport insurance......I have it listed at 57000 for the boat and 3000 for the trailer.....

02-19-2010, 09:37 PM
hey doc, who is the carrier

02-19-2010, 09:57 PM
premier marine, but held a lolipop to their head at one point in time to get it 180 less than that on my previous boat, for which i would gladly tell you about for a hamburger on tuesday:grin:

02-20-2010, 12:08 AM
440.00 for 42,ooo replacement value.

02-20-2010, 01:36 AM
I am paying aprox $700 for my 04 Mobius LS in Vancouver.

02-20-2010, 02:16 AM
thanks alot guys I appreciate all the help. to bad we couldn't do a group insurance buy lol

02-20-2010, 01:10 PM
here in ontario if you are a member of the owsa you can get great rates , thats how i made my current insurer drop theirs and add the million liability, it was only 250k before which imo is not near enough. here is a link for informational/comparison purposes, plus i see they have bumped it to 2 million


03-02-2010, 10:52 PM
I have an 06 Mobius LS, valued around 30,000 and my insurance is under 400. I had my old boat (92 Supra) insured through State Farm and this boat for some strange reason is cheaper than the older one. State farm had best policy and price I could find. It also has a grand worth of accessory ins(Boards, jackets, tower items, etc). Id suggest that one....

03-04-2010, 09:14 AM
Well I got a price with the supposed discount awsa discount it came to 770.00 so glen with Alberta waterski association is looking into why so much.

03-04-2010, 01:55 PM
well so far you've saved 190 off the 960.......is your frown turning upside down yet.....i'm thinkin you can do aliitle better

looks like myself and mikey are paying between $9.50 -10.47 per 1000 of coverage

03-04-2010, 01:58 PM
dru , find out who mikey uses , he is your neck of the woods......looks like 600 is what you should expect on 57k

03-04-2010, 03:28 PM
I ended up just going through my home and vehicle company. They were best at 660.00 with 1000 deductable

03-04-2010, 08:30 PM
thats not unreasonable , its good to have it covered

03-04-2010, 10:19 PM
I just dug out my ploicy and i was off by a little . I pay 484.00 per year with 500 deduct etc with 34k value. Sorry i got mixed up. Its through Premier Marine. You could pm if you like but it sounds like it may be too late. for more info .Sorry.

03-04-2010, 11:09 PM
Motor for you boat if it is the 325 Fuely is around 6000K US

03-09-2010, 02:42 PM
$540 including tax. 06 LSV 2 million liability - $51k replacment

When the boat ws new I paid $800. It's been coming down each year.

Try Marine Experts 1-877-627-4633

03-15-2010, 11:26 PM
Hey guys... I deal with insurance and have used Premier Marine Beacan, Aviva (Elite) and compared State Farm in depth. Don't let price fool you. The saying you get what you pay for is true. Probably the best "coverage" out there is Beacon. They are also probably one of the most expensive. The most important thing to consider is the basis of claim settlement in the event of a total loss as partial losses are pretty much all the same. With Beacon, they insure your boat for an agreed value. Lets say $50K. In the event of a total loss, they cut you a cheque for $50K (minus any deductible). There are no conditions for payment like the other carriers who say they will give you $50K towards the purchase of a new boat, and if you do not want a new boat, then they will give you ACV instead. Bottom line is read the fine print. I have and will say Beacon is where I placed my insurance: $43K on boat, $5K on trailer, $2.5K for contents and $2 million Liab for $760.00Can/Year. State Farm was $400.00/year, but they do not offer true "agreed value" coverage. There are other coverage too that differs between companies... Another big one, is the Liability offered by Beacon follows you if you drive someone else's boat. If you kill someone while driving someone else's boat & they do not have insurance or not enough insurance, then your policy will kick in and cover the difference. Most of the other policies do not cover this. Another difference is with Tarps/Covers. Some companies only offer ACV where some offer RC (replacement cost) for 3 or 5 years + newer. Remember, price is not always the end all be all. True its important to consider what you get for the money, but in the end, you really need to shop around, and get/read the wordings. They are only about 4-8 pages long (and out of that, only 2-4 pages are key - The rest is standard exclusions like war etc...). For me as an insurance broker, I would rather spend an extra $200.00 and get better coverage that could save me thousands in the event of a claim. At the end of the day, its what you feel comfortable with... What are you willing to bet?