Boat insurance

[moguy1973]

Being that I just bought my first boat, I was wondering what kind of insurance coverage everyone has on theirs.  I have Farmers and it looks like they have several types of coverage options that I can choose from in their basic package:

• Physical Damage
• Personal Liability (includes pollution liability and wreck removal)
• Medical Payments
• Uninsured Watercraft
• Personal Property (Farmers offers Replacement Cost coverage standard, so you don’t have to worry about depreciation)
• Towing and Assistance (for boat and/or trailer)
• Trailer Coverage

Also, what kind of premiums are people paying for their boat insurance to see if I'm getting a good deal or not.   This will be on an 09 Pro Team 175 TXW Tracker.

[Smalliebigs]

I sell insurance and have two boats. I always insure any of my boats for full replacement or for a stated value on the boat. Otherwise most policies are ACV or actual cash value. Basically  what the boat was worth new minus depreciation.

Ironically I worked for Farmers for years and had a fairly large book of businesses  with them while I was building  my independent  book. Farmers went thru some turmoil in the late 90's and I had to cut ties with them but ironically  now have them in all their glory again but it's called Foremost.

I pay $201 dollars a year to insure a 2011 Sea Ark XV 180 with a Suzuki 115 and trailer for $17000 with a $0 deductible on comp and collision....also I insure a Wenonah 17 ft Square stern canoe and trailer with a 4hp Yamaha on that policy for that $201.

You shouldn't  be paying more than $225 for full replacement  coverage on that boat......if you are their rates suck.

I never worry about my personal property.....that is a risk I assume and remediate  myself.

[sms_alum]

Smalliebigs probably knows more about this, but I used to own a very similar boat. As long as it was under 18 ft and 50 horse a lot of stuff is covered by your home owners insurance. I now have a newer boat with a larger outboard so I carry a separate policy.

That was through StateFarm so I would definitely call to confirm what is covered and what you want covered. 

[moguy1973]

My agent said $110/year with $250 deductible.  I'd say that's pretty good for me.