Boat Insurance Vaulations

[larry_arizona]

My policy covers liability and replacement value of boat, trailer and gear.

Also included is roadside assistance while trailering and towing and recovery on the water.


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[Creekrat]

Boat insurance is typically done on agreed value which you can have set at whatever amount you want, to an extent. If you have a loan on the boat you need to tak with the lien holder to see the amount of coverages they require you. Other than that, if you value just the boat and motor at 20k but have like 10k of stereo equipment then you can insure it for 30k and should the boat get totaled then the insurance will pay you the 30k. Whatever you choose just make sure that you have coverage for any environmental cleanup as well.

[Branden967]

Boat insurance is typically done on agreed value which you can have set at whatever amount you want, to an extent. If you have a loan on the boat you need to tak with the lien holder to see the amount of coverages they require you. Other than that, if you value just the boat and motor at 20k but have like 10k of stereo equipment then you can insure it for 30k and should the boat get totaled then the insurance will pay you the 30k. Whatever you choose just make sure that you have coverage for any environmental cleanup as well.

Good call on the environmental cleanup coverage. I need to check mine now.

[sandm]

skisafe on our old policy was something like 950k in environmental.

[larry_arizona]

BIA policy


For some reason, they don’t want me running in Florida inland waters......


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[sandm]

For some reason, they don’t want me running in Florida inland waters......

they have heard the stories........

[larry_arizona]

they have heard the stories........

Florida man stories?


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[bergermaister]

Thead bump. My insurance company a few years back gave me an "Agreed Value" of $19k. Looking at the market today and what I've got I'm quite convinced that is WAY low. However I'm getting estimates of around $300 for an ACMS certified appraisal that I can send in to insurance so they'll raise the coverage. Wondering if that price seems realistic? Never done one of these before.

NADA is currently saying around $35k with my options. However when I spoke with the insurance rep, when they look at NADA they don't consider any of the options/accessories or the fact that the boat has basically been completely restored.

So the official appraisal seems like my only option here. Thoughts?

[vdubnick]

Thead bump. My insurance company a few years back gave me an "Agreed Value" of $19k. Looking at the market today and what I've got I'm quite convinced that is WAY low. However I'm getting estimates of around $300 for an ACMS certified appraisal that I can send in to insurance so they'll raise the coverage. Wondering if that price seems realistic? Never done one of these before.

NADA is currently saying around $35k with my options. However when I spoke with the insurance rep, when they look at NADA they don't consider any of the options/accessories or the fact that the boat has basically been completely restored.

So the official appraisal seems like my only option here. Thoughts?

our old boat was around 40k and allstate was about 330/year, so seems reasonable. there is some flat cost tho, not 1:1 value correlation because now we are only 600/year for a 22 mojo

[zabooda]

You can cover it all with additional cost. I know with vehicles, insurance looks at the VIN and covers just that. I added coverage for my Wrangler but the extra cost wasn't much. I keep pictures and receipts of the added items. Same thing applies to my Razor SxS.