How much do you pay for boat insurance?

[Captain Obvious]

I got a quote from Progressive for $700/yr. That seems a little high to me. Granted, I have full coverage 300/150/300. Does anyone have a preferred insurance company for their boat?

 

[Coheeba]

I use SkiSafe $611, that coverage sounds good for that price.

 

[John Mcpartland]

I got a quote from boatu.s. for $502, 6 weeks ago so I went on line today to buy it and now my quote was $820. Luckily I was able to fine the old quote from 6 weeks ago and bought that one. When I reviewed both quotes I gave the exact same info. Good thing I didn't delete the old email

 

[Captain Obvious]

That's strange.

 

[NORCAL-GAS]

$650/year. 2018 242x. Used a broker out of the Bay Area.

 

[fireflymedic]

I have boatUS. Bill comes from gico so go figure. But it went down this year was 770 now like 525.

 

[justason]

state farm $331, ....comes with international coverage (bimini)
this is my only policy with state farm

 

[Captain Obvious]

Wow @justason, that's a heck of a deal. Especially coming from state farm. In my experience, they are usually pretty expensive I'll give them a try. I've got quotes from skisafe, $650, and Boat US, $649.

 

[haknslash]

I was paying $377 with BoatUS (Geico) but this year it went up to $433 because of "increased insurance costs"

State Farm wanted over $700 back in 2016 for the same coverage, actually less lol

Insurance costs vary more by where you live than someone else's across the country. You need to compare the same boat with people close in your area.

 

[McMark]

I have travelers and it’s right around $425.

 

[Julian]

This discussion comes up once every 3 months or so and the ranges are quite different. You have to remember that pricing varies based off a number of factors:

1. Where you will be boating (inland lakes, great lakes, ocean etc)
2. Latitude you'll be boating at....in Canada they really only have to worry about you for 3 months of the year....FL=12. (sure there are storage issues, but the main cost is you driving it)
3. The amount you will be insuring
4. The amounts of liability coverage
5. Your deductible
6. The HP of your boat
7. Your age
8. Your gender

So your results will vary. Also, don't believe the online systems....State Farm's quoted me $1400 online and my agent was $650 for the same thing!

 

[CraigAR]

I use United Marine Underwriters for my 2017 ar240. Boat in swfl all year and full coverage plus full replacement for named storms. I'm at $872. Geico, state farm and progressive all wanted around $1100 for the same coverage.

 

[W3bexec]

State Farm, Colorado, $250 deductible. $370 yr. Never looked but doubt it covers Bimini.

 

[robert843]

I was paying $900 a year with Allstate just switched to state farm last week now $488 a year.

 

[WetWillie]

$600/yr here w/Nationwide but +1 on the many variations of factors

 

[Bluewater272]

GEICO was charging me $976 for $100K liability and $60K agreed value. Got a policy with SkiSafe for <$400 for $300K liability and $60K agreed value. Only thing that's missing is tow coverage, and I'll just pick up a Sea/Tow membership and still be way ahead.

 

[rsg1963]

I'm in California and have my boat insured for the full loan amount of $52k and I pay $585 a year. Progressive via USAA.

 

[Zonie]

State Farm, Colorado, $250 deductible. $370 yr. Never looked but doubt it covers Bimini.

State Farm here too, $475 per year. My agent said all SF boatowner's policies currently cover up to 75 nautical miles from the US. That is being upped to 100 NM next year. Also, towing and emergency road service currently has a $500 limit but that is going up to $1000 sometime next year as well.

 

[kthrash]

My 2010 242LS $36000 is $641/yr, my 2017 190FSH $30000 is $342... both have same coverage's and limits

 

[Captain Obvious]

I ended up going with SkiSafe for $409/ year.