I just fully insured my 2011 Sea Doo Speedster.. wow I cant believe how cheap?

[cheappc]

So I called my Farmers Insurance agent, told him I sold my boat and replaced it with my new one. I want full coverage, including medical benefits of up to $10,000.00. Full Comprehensive/Collision, Towing Insurance of up to $500 (in and out of water)..

Full Coverage on my new boat...

Its only $194 dollars a year????? I'm like what? I pay it in 3 installments, so I only had to pay $50 dollars right now???

I told him to double check everything, that maybe something is wrong.. nope, its $194 dollars for the whole year!

Thats what I pay a month on my car! lol... WTH???

 

[pudder]

I pay 300.00 in Canada for a 2007 SC 150 so thats probably right. things are always more expensive here.

 

[cheappc]

I pay 300.00 in Canada for a 2007 SC 150 so thats probably right. things are always more expensive here.

What about everybody else? I really want to know how much everybody pays? I only went up from $149 (from my 95 sportster insured at $6000), to $194? like $50 bucks more for a $17,000 boat?

 

[sgoyal]

When you said full coverage? Can you define that? I insured for $20.5K LOL.. I might go back to my 18.5K.. I'm paying $300 per year.

What's your comprehensive/collision coverage.. property damage or uninsured motorist coverage etc...

 

[cheappc]

When you said full coverage? Can you define that? I insured for $20.5K LOL.. I might go back to my 18.5K.. I'm paying $300 per year.

What's your comprehensive/collision coverage.. property damage or uninsured motorist coverage etc...

Ok, I'm going to find my paperwork, and ll ge all those numbers, so you are paying $300, but your boat is worth more than mine that's why.. My deductible is high though, I should bring it back down, it's at $1000

 

[Dr Honda]

Boats are cheap to insure. I only pay $100. But... the boating season in pitt is only about 5 months a year.

 

[cheappc]

Boats are cheap to insure. I only pay $100. But... the boating season in pitt is only about 5 months a year.

Oh, I see, so they are low, and my statement about what I pay per month for my car, that's for 3 cars... And it's actually $179 a month.
Even though my agent told me its a little tricky, he said something like they don't cover mechanical catastrophes, like it sinking due to a factory defect, I find that kind of odd...

That they will cover it sinking if it was an accident, but not a factory mechanical failure?

 

[fearthisinc]

Wow.. I pay a lot lol.. I pay 525 a year.. that includes 12 months of coverage, not a few months of the year.. That includes the boat and trailer... As far as coverage goes.. I have the following:

Bodily Injury - 250,000 each person / 500,000 per accident
Property Damage - 100,000
Uninsured Boaters - 250,000 / 500,000
Med pay / waterskiers - 5,000
Comprehensive - 250 deductible w/ total loss replace / purchase price (18k)
Collision - 250 deductible w/ total loss replace/purchase price (18k)
Disappearing Deductible included
Wreckage Removal included
marine Electronics 250 deductible
trailer 250 deductible
fuel spill liability included
Emergency Towing / Labor 500 each incident
Roadside assistance included
Coastal Navigation 75 nautical miles included

It is my first boat so when I insured I went with the best coverage just in case.. Should probably go back and lower a couple of things.. Especially since I really dont take her into very populated areas.. You just never know though.. And being in my profession if you are ever in an accident EVERYONE sues lol.. So I would rather be covered then have less coverage.. And with the payouts people are awarded its ridiculous..

 

[RFoster130]

Oh, I see, so they are low, and my statement about what I pay per month for my car, that's for 3 cars... And it's actually $179 a month.
Even though my agent told me its a little tricky, he said something like they don't cover mechanical catastrophes, like it sinking due to a factory defect, I find that kind of odd...

That they will cover it sinking if it was an accident, but not a factory mechanical failure?

You really should check your policy then. Sounds like it doesnt have the best coverage, could be why its so cheap. I think for boats, the best policies are from companies who deal with mainly boat insurance. I use BoatUS. They have awesome coverage. Mine covers almost any mechanical failure if I lose an engine, even it its my fault. Also check the liability coverage if you sink it or have a fuel or oil spill on the water. Im covered for a million bucks.

 

[cheappc]

You really should check your policy then. Sounds like it doesnt have the best coverage, could be why its so cheap. I think for boats, the best policies are from companies who deal with mainly boat insurance. I use BoatUS. They have awesome coverage. Mine covers almost any mechanical failure if I lose an engine, even it its my fault. Also check the liability coverage if you sink it or have a fuel or oil spill on the water. Im covered for a million bucks.

I kind of figured my agent is great on home and car insurance, but he doesn't know much of boat insurance.. I'm waiting for my policy right now.. So let's see what it says

 

[dsw222]

About $250 a year for me in Pittsburgh

 

[Ryan40601]

Im at 175 yr thru progressive, full comp and liability
$ 25000 value

 

[cheappc]

Im at 175 yr thru progressive, full comp and liability
$ 25000 value

nice!! you beat us! wow, good job!

 

[Ryan40601]

Do give me too much credit the actual total for a jet ski and the boat is 350 i just chopped it half to get the 175 number
For all i know its 250 boat 100 jetski ! And i dont know the exact coverage limits, so i probably jumped the gun !
But it sounds good

 

[sgoyal]

Here's what I got with 500 deductible (Geico -- SeaWorthy)


Hull Coverage (ACV) 19,000
Emerg Service 250 00
Boat Liability 300,000
Fuel,Spill Liab 854,400
Longshore Harb Wk Comp 00
Med Payments 5,000 00
Boat Trailer 1,500
Pers Effects 500
Uninsured Boater 300,000
Storm Ded Buyback 00
Agreed Hull Value 00
Disappearing Deductible 00

 

[cheappc]

Here's what I got with 500 deductible (Geico -- SeaWorthy)


Hull Coverage (ACV) 19,000
Emerg Service 250 00
Boat Liability 300,000
Fuel,Spill Liab 854,400
Longshore Harb Wk Comp 00
Med Payments 5,000 00
Boat Trailer 1,500
Pers Effects 500
Uninsured Boater 300,000
Storm Ded Buyback 00
Agreed Hull Value 00
Disappearing Deductible 00

Wow nice coverage, so maybe I'm not getting the awesome deal I imagined... Ok, it's good to know this it's better to be insured

 

[Stevego]

By law in the US are you required to have boat insurance? Here in Canada no. They wanted around $500 for my 99' Challenger. Seeing as I rarely use it I did not bother insuring it this year. Note however in the US you can get sued for almost anything, laws in Canada are different.

 

[seadooguynj]

Here is what I have in New Jersey. I have had one claim in 09 that was handled well and is since not effecting by cost.

[TABLE="width: 100%"]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]BODILY INJURY & PROPERTY DAMAGE LIABILITY[/TD]
[TD="width: 10%"]$110.00[/TD]
[/TR]
[TR]
[TD="width: 60%"] BI $100,000 EACH PERSON - $300,000 EACH ACCIDENT[/TD]
[TD="width: 10%"] [/TD]
[/TR]
[TR]
[TD="width: 60%"] PROPERTY DAMAGE LIABILITY - $100,000 EACH ACCIDENT[/TD]
[TD="width: 10%"] [/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]UNINSURED BOATERS[/TD]
[TD="width: 10%"]$47.00[/TD]
[/TR]
[TR]
[TD="width: 60%"] $100,000 EACH PERSON - $300,000 EACH ACCIDENT[/TD]
[TD="width: 10%"] [/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]MED PAY/WATERSKIER'S MED PAY $7,500 EACH PERSON[/TD]
[TD="width: 10%"]$39.00[/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]COMPREHENSIVE $500 DED AGREED VALUE[/TD]
[TD="width: 10%"]$179.00[/TD]
[/TR]
[TR]
[TD="width: 60%"] AGREED VALUE $27,500[/TD]
[TD="width: 10%"] [/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]COLLISION $500 DED AGREED VALUE[/TD]
[TD="width: 10%"]$150.00[/TD]
[/TR]
[TR]
[TD="width: 60%"] AGREED VALUE $27,500[/TD]
[TD="width: 10%"] [/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]DISAPPEARING DEDUCTIBLE[/TD]
[TD="width: 10%"]INCL[/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]WRECKAGE REMOVAL[/TD]
[TD="width: 10%"]INCL[/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]MARINE ELECTRONICS DED $500[/TD]
[TD="width: 10%"]INCL[/TD]
[/TR]
[TR]
[TD="width: 60%"] TRAILER DED $250[/TD]
[TD="width: 10%"] [/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]FUEL SPILL LIABILITY[/TD]
[TD="width: 10%"]INCL[/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]$1,000 REPLACEMENT COST PE $250 DED[/TD]
[TD="width: 10%"]$11.00[/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]EMERGENCY WATERCRAFT TOWING & LABOR[/TD]
[TD="width: 10%"]$29.00[/TD]
[/TR]
[TR]
[TD="width: 60%"] $500 EACH INCIDENT[/TD]
[TD="width: 10%"] [/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]COASTAL NAVIGATION 75 NAUTICAL MILES[/TD]
[TD="width: 10%"]INCL[/TD]
[/TR]
[TR]
[TD="width: 60%"]

---

[/TD]
[TD="width: 10%"]

---

[/TD]
[/TR]
[/TABLE]
[TABLE="width: 100%"]
[TR]
[TD="width: 60%"][/TD]
[TD="width: 10%"][/TD]
[TD="width: 10%"][/TD]
[TD="width: 10%"][/TD]
[TD="width: 10%"][/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]Premium by Watercraft[/TD]
[TD="width: 10%"]$565.00[/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]Nj Prop-Liab Ins Guaranty Assoc Surcharge[/TD]
[TD="width: 10%"]$5.00[/TD]
[/TR]
[TR="bgcolor: #e4e4e4"]
[TD="width: 60%"]Total Policy Premium[/TD]
[TD="width: 10%"]$570.00[/TD]
[/TR]
[/TABLE]