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Insurance - opinions on coverage / limits?

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CZSteve

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We need to get insurance setup for our two 1996 GTX's we purchased in the winter; finished fuel and other maintenance on one yesterday and might try to hit the lake with one of them this weekend but need coverage first.

For home and auto we're with Amica and they do not offer PWC policies.
So far I've just done an online inquiry with SkiSafe and Progressive.

- What's the general consensus regarding bodily insury / property damage limits?
- Coverage amount for 'Fuel Spills & Contamination'?
- Worth adding comprehensive for 1996 era PWC's?

We're in the D/FW Texas area and will use only on fresh water and during summer months at this time.

Thanks,
Steve
 
Do a search in the 4 tech. There is a good post there.

I have Progressive with an extra million in coverage. Both skis, trailer and total replacement value. Around 400 a year I think.
 
I only have liability on mine, my ski's are all 96's and I figure I could afford to replace a ski, at that age on a total you're probably only going to get $1500.00 anyway.

Lou
 
I have progressive through USAA, $399/year with 1mil liability, full new replacement on both+trailer, roadside for the trailer, sea tow, etc.
 
I must be lucky in canada, They don't require you to have insurance. Its only an option (usually with people with newer skis) As long as your trailer is plated and you have a copy of your title with your ski, You are golden up here.

Quads and snowmobiles on the other hand...insurance AND trail passes. For that i only put liability (125$/yr) and trail permits are 130$/season.
 
I am set up just like smc0922.

I just logged into Progressive and it costs me $276 a year. Pay in full and they take 25 bucks off. Which is what I do.

One nice feature is REPLACEMENT value. If they get stolen or destroyed you will get what it actually costs to replace them, not what some BlueBook value is.. The difference is 6 dollars a year...

Again, this is for two skis and a trailer...
 
Coastiejoe said:
If your ski is worth covering, it is well worth the extra 6 dollars in coverage for "replacement costs"..
Click to expand...

I'd love to see the fine print. Insurance companies are not in the habit of giving great deals like that. There has to be a list of exclusions a mile long.
 
- BiRkS_ said:
I must be lucky in canada, They don't require you to have insurance. Its only an option (usually with people with newer skis) As long as your trailer is plated and you have a copy of your title with your ski, You are golden up here.

Quads and snowmobiles on the other hand...insurance AND trail passes. For that i only put liability (125$/yr) and trail permits are 130$/season.
Click to expand...

That is true in most places but when you or whoever is riding your ski runs into another boat or somethng crazy happens you have no liabilty coverage and are going to be sued for repairs and any medical and replacement bills. I do not insure mine either but I take a chance too, even if it is the other guys fault you still may be screwed.


This story is dumb on the on the pwc owners fault but was tragic for all.

My boss had a friend who owned property on the water. He took his jetski for a test run at night the day he got it to the lake after the dealer had it( we all know that was a bad choice). He turned around a bend and ran straight into a idling pontoon. He went straight into the middle of the pontoon. He died instantly and the guy driving the pontoon had maybe 1/2 a beer too much. So one person died who should not have been on the lake but anxious to try his seadoo and one guy in jail and his family sued for just coasting. The guys pontoon had no insurance as well and his family is dealing with court. So remember it is not always what you do but what people around you are doing.
 
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we're not required in FL either, maybe some states require it, i dunno...but I still carry it and IMHO anybody that decides not to carry it is just asking for a problem... (story above good example) but when you can get it SO CHEAP why would you not carry it ?:facepalm:

i have 300K liability & full coverage , $167 annual. progressive.

i'm in the business, and to my knowledge Replacement cost on the ski isn't available.
you can get RC on personal effects, but not on the ski, at least here in FL with progressive.
basically you pick your Market value, insure it for that and then at claim time they decide how much to nickle and dime you.

I do carry full coverage but its really only the liability i'm concerned about.

back to the OP...

300K minimum.. but check price on a million

fuel spill is a mystery to me, but if its reasonable, buy it to avoid tree hugger hassles maybe. I thought it was part of the liability. I never sell pwc coverage except to myself, its too dam cheap, not worth the paperwork.

comp is worth it, but is probably 30% of the total cost,,, fire, theft, vandalism, with fire and theft being the most obvious... especially if you don't garage the ski's...
 
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Spimothy Leary said:
we're not required in FL either, maybe some states require it, i dunno...but I still carry it and IMHO anybody that decides not to carry it is just asking for a problem... (story above good example) but when you can get it SO CHEAP why would you not carry it ?:facepalm:

i have 300K liability & full coverage , $167 annual. progressive.

i'm in the business, and to my knowledge Replacement cost on the ski isn't available.
you can get RC on personal effects, but not on the ski, at least here in FL with progressive.
basically you pick your Market value, insure it for that and then at claim time they decide how much to nickle and dime you.

I do carry full coverage but its really only the liability i'm concerned about.
Click to expand...

I called last night and its 500 bucks for my two Yamaha VX's with the minium liability and 500 deductible.
I claimed 8000 MV but seeing they don't offer RC might lower value to see if lowers annual premium.......
 
Well this is pretty much a pointless reply from me as I live in the uk but...

I pay £120/$180 for the year and I get fully comprehensive insurance which covers my ski and trailer

I have £3m/$4.5m public liability cover and £2m/$3m water skiers liability cover Max 2 persons and same again for towables, this also covers any rider 16 and over (14 if accompanied by anyone 21 or over)

Oh and any age for passenger(s)

Sent from my GT-N7000 using Tapatalk 4 Beta
 
ocod said:
I called last night and its 500 bucks for my two Yamaha VX's with the minium liability and 500 deductible.
I claimed 8000 MV but seeing they don't offer RC might lower value to see if lowers annual premium.......
Click to expand...

at least that's how I understand it, and i logged in and looked again before I posted just to be sure... sadly you don't save much dropping the MV down, but no point in paying for coverage you'll never collect on (over insuring)
 
lamajama said:
I'd love to see the fine print. Insurance companies are not in the habit of giving great deals like that. There has to be a list of exclusions a mile long.
Click to expand...

Here is my cut and paste from Progressive. It states "replacement cost" six lines from the bottom. The additional million dollars covered is an add-on and I pay 99 dollars a year for it.

Here is mine with two skis and a trailer.. (Total of $237.00)
Credit rating of 840, no loan on the ski's, paid in full.

Driver(s) Sex Marital Status Date of Birth Driver Type License Number State SNI Filings
M Single/Separated **/**/1963 Rated Driver XXXXXXXXXX1303 OH N/A No


Watercraft Information


Year, Make, & Model HIN Vehicle Use Loan/Leasing Company
2010 Seado Gtx XXXXXXXL910 Pleasure Use Exclusively Usaa Bank
10750 Mcdermott Fwy, San Antonio, TX 78284
2009 Seado Rxtx XXXXXXXXA909 Pleasure Use Exclusively Usaa Bank
10750 Mcdermott Fwy, San Antonio, TX 78284

Trailer Information


Year, Make & Model Trailer Year Trailer Make
2010 Seado Gtx 2011 Mimam
2009 Seado Rxtx 2011 Mimam
Change Coverage

If you already have four watercraft on your policy and need to add another, please contact 1-877-280-8418

Coverage & Premium Information



2010 2009
Seado Seado


BODILY INJURY & PROPERTY DAMAGE LIABILITY $37.00 $34.00
BI $100,000 EACH PERSON - $300,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $100,000 EACH ACCIDENT
UNINSURED BOATERS $8.00 $8.00
$100,000 EACH PERSON - $300,000 EACH ACCIDENT
MED PAY/WATERSKIER'S MED PAY $1,000 EACH PERSON $4.00 $5.00
COMPREHENSIVE THE LESSER OF ACTUAL CASH VALUE $46.00
AT THE TIME OF LOSS
LESS $500 DED OR $12,000
COMPREHENSIVE THE LESSER OF ACTUAL CASH VALUE $50.00
AT THE TIME OF LOSS
LESS $500 DED OR $13,699
COLLISION THE LESSER OF ACTUAL CASH VALUE $36.00
AT THE TIME OF LOSS
LESS $500 DED OR $12,000
COLLISION THE LESSER OF ACTUAL CASH VALUE $33.00
AT THE TIME OF LOSS
LESS $500 DED OR $13,699
WRECKAGE REMOVAL INCL INCL
MARINE ELECTRONICS DED $500 INCL INCL
TRAILER DED $250 INCL INCL
FUEL SPILL LIABILITY INCL INCL
COVERAGE: REPLACEMENT COST
$1,000 REPLACEMENT COST PE $250 DED $6.00 $6.00
COASTAL NAVIGATION 75 NAUTICAL MILES INCL INCL
ROADSIDE ASSISTANCE INCL INCL


Premium by Watercraft $137.00 $136.00
Total Policy Premium $273.00
 
Hi Steve
I am a Progressive Agent in Connecticut you should have Liabilty on them this will cover you in the event someone gets hurt. your liabilty limits should match your auto & house limits. nothing less then 100/300 or a single limit of 300,000
As for collision (this will cover your seadoo in the event you damage it when in use. the insurance company will pay you book value less your deductible)
Comprehensive coverage this covers your seadoo while it is not in use fire, theft and vandalism less your deductible.
The insurance company will pay you book value.
I would see what book value is on your machines and how much collision and comp. is going to cost you. Then decide if its worth getting collision and comp or just liability
I have a pair of 1996 seadoo's and i only have liability on them.
Jack
 
Coastiejoe said:
Here is my cut and paste from Progressive. It states "replacement cost" six lines from the bottom. The additional million dollars covered is an add-on and I pay 99 dollars a year for it.

Here is mine with two skis and a trailer.. (Total of $237.00)
Credit rating of 840, no loan on the ski's, paid in full.

Driver(s) Sex Marital Status Date of Birth Driver Type License Number State SNI Filings
M Single/Separated **/**/1963 Rated Driver XXXXXXXXXX1303 OH N/A No


Watercraft Information


Year, Make, & Model HIN Vehicle Use Loan/Leasing Company
2010 Seado Gtx XXXXXXXL910 Pleasure Use Exclusively Usaa Bank
10750 Mcdermott Fwy, San Antonio, TX 78284
2009 Seado Rxtx XXXXXXXXA909 Pleasure Use Exclusively Usaa Bank
10750 Mcdermott Fwy, San Antonio, TX 78284

Trailer Information


Year, Make & Model Trailer Year Trailer Make
2010 Seado Gtx 2011 Mimam
2009 Seado Rxtx 2011 Mimam
Change Coverage

If you already have four watercraft on your policy and need to add another, please contact 1-877-280-8418

Coverage & Premium Information



2010 2009
Seado Seado


BODILY INJURY & PROPERTY DAMAGE LIABILITY $37.00 $34.00
BI $100,000 EACH PERSON - $300,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $100,000 EACH ACCIDENT
UNINSURED BOATERS $8.00 $8.00
$100,000 EACH PERSON - $300,000 EACH ACCIDENT
MED PAY/WATERSKIER'S MED PAY $1,000 EACH PERSON $4.00 $5.00
COMPREHENSIVE THE LESSER OF ACTUAL CASH VALUE $46.00
AT THE TIME OF LOSS
LESS $500 DED OR $12,000
COMPREHENSIVE THE LESSER OF ACTUAL CASH VALUE $50.00
AT THE TIME OF LOSS
LESS $500 DED OR $13,699
COLLISION THE LESSER OF ACTUAL CASH VALUE $36.00
AT THE TIME OF LOSS
LESS $500 DED OR $12,000
COLLISION THE LESSER OF ACTUAL CASH VALUE $33.00
AT THE TIME OF LOSS
LESS $500 DED OR $13,699
WRECKAGE REMOVAL INCL INCL
MARINE ELECTRONICS DED $500 INCL INCL
TRAILER DED $250 INCL INCL
FUEL SPILL LIABILITY INCL INCL
COVERAGE: REPLACEMENT COST
$1,000 REPLACEMENT COST PE $250 DED $6.00 $6.00
COASTAL NAVIGATION 75 NAUTICAL MILES INCL INCL
ROADSIDE ASSISTANCE INCL INCL


Premium by Watercraft $137.00 $136.00
Total Policy Premium $273.00
Click to expand...

i could be wrong but I don't think I am... since i'm Fl not ohio...
I think that the rc and rc on PE (personal effects) are one of the same, not RC on the ski... only on your gear.
 
I highly recommend BoatUS. They have awesome plans very cheap. I ensure the 200 with an agreed value of 16500 for 300 bucks a year. It also covers a million in liability, which covers Environmental cleanup in the event of a spill. Ever seen the bill for a sinking boat on the water? Also comes with on the water towing.

Go with agreed value vs actual value. Most the time you cant replace your ski with the actual value. Its only a bit more on the premium.
 
Spimothy Leary said:
i could be wrong but I don't think I am... since i'm Fl not ohio...
I think that the rc and rc on PE (personal effects) are one of the same, not RC on the ski... only on your gear.
Click to expand...

I would agree on that interpretation - plus - please think about the logic - $6 to potentially replace a $2000 ski with
a $10,000 new one? Figures don't compute.

Different issue but I live 20 min from US border and a friend has a place on US soil but only accessed via Canadian soil. He
was approached by a insurance company that would cover him in the event he needed a heli-ambulance to a US hospital.

The cost of a heli-ambulance is apparently $10,000 and the cost of the policy was $72 for the year. Ergo, 139 policy owners
supported ONE helicopter trip - not counting expenses, commisions etc for the insurance company so the figure is more likely
280:1....and it's a retirement community......so-o-o-o-o you'd have to think that a) a whole lotta risk for the insurance company
and b) a whole lotta exclusions.

I'm in the industry....and insurance companies do not lose - in the long run. Certainly on a claim but after that, the "risk" is simply
spread out over everyone and in every element (house, car, liability etc).

In Canada I pay $700 for 2 machines with a declared value of $6000 total and $1 mil liability each. I also cannot ride them from Nov 1 to April 1 each year.....:bs: Liability is not available by itself.
 
Spim, I have state farm and was offered a "replacement cost" coverage which was really more like an agreed value for about twice what the 300k liability cost. But replacement cost on a 96 xp would be market value to find another 96xp, not buy you a new 4stroke.
 
Strizzo said:
Spim, I have state farm and was offered a "replacement cost" coverage which was really more like an agreed value for about twice what the 300k liability cost. But replacement cost on a 96 xp would be market value to find another 96xp, not buy you a new 4stroke.
Click to expand...

and that makes more sense, my coverage has an agreed value as well,,,
but I interpret it as "the max we will pay", not "the amount we will pay"
if I implied that a 4 stroke swap was involved I apologize, I didn't mean to but I think that was a different poster that mentioned that you'd get a 4 stroke out of the deal :)
 
I called Progressive to get the definition of "Replacement Cost..."

If the Blue Book / NADA is greater than what the craft is worth and you can actually buy (replace) the craft with a "like same" item, then that is the value I will get. If it is not enough, I need to get four examples of what it will take to replace with a "like same" craft and they will give the average of the amounts I submit once they verify the amounts.

So in the end, I will not lose a penny for the 6 extra dollars a year for the "replacement" option.

This is basically what I though it was as I had a 1969 Ford F-350 tilt bed go up in flames and we had replacement on it as well. They could not find a replacement due to being a in near perfect condition at the time of the fire as well as having a tilt bed on the frame. They ended up giving us 11 grand more than we paid so that we could get the same truck and purchase the tilt bed to install it.
 
Alright, ended up going with Progressive - they had the best premium @ $258 annually for full coverage on both skis.
Went with a $250 deduct; only an $8 difference compared to $500 and liability only was just a $90 annual savings.

Specifics:
Policy coverages:
Bodily Injury & Property Damage: $500,000 Combined Single Limit (CSL)
Uninsured Boater: $500,000 Combined Single Limit (CSL)
Medical Payments: $5,000 each person

Comprehensive: $250 deductible
Collision: $250 deductible
Sign & Glide: Selected
Coastal Navigation: 75 Nautical Miles
Replacement Cost Personal Effects: No coverage
 
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