Boat Insurance 101

[snagged in outlet 3]

9 minutes ago, fishinwrench said:

Nope, most impact related claims are covered, even on the lamest of insurance policies.

Look out shallow shoals

[nomolites]

I carry Geico(ski safe) replacement value on the rig ($35k) and contents ($7.5k) and it runs @ $350/yr.  

Mike

[DChance]

18 hours ago, Ketchup said:

Thanks for the replies guys. Appreciate it.  Well i called Geico. The price i posted is accurate they said. That does cover the basics, including lower unit. He said that most claims are paid out within 2 weeks. I asked about theft, or in my case loosing the trolling motor/bow electronics/fishing equipment while fishing, he said thats all included in the price they provided. Heck it cost me 4 years of rates to replace that stuff.  I told him i would get back with them. He said since im a current client that its just a click away online.  Reading your guys info makes me want to dig a little deeper. 

Quill i watched a youtube video i found while searching boat insurance, were Bob gave a talk about it.  Guy seems very knowledgable. Thanks

Ranger i appreciate the offer. I just want to make sure i get the coverage i need for whatever comes my way. Never had a claim on a vehicle or anything. Have only hit 1 floating tree in all my years of running boats that i recall, so my time is coming soon.  

I have gone through Bob at Worldwide Marine for over 10 years. He is very knowledgable and a fellow fisherman. Give him a call and ask about Travelers mechanical breakdown coverage.

[Quillback]

8 hours ago, DChance said:

I have gone through Bob at Worldwide Marine for over 10 years. He is very knowledgable and a fellow fisherman. Give him a call and ask about Travelers mechanical breakdown coverage.

Curious as to what that covers - I'll have to give Bob a call myself.

[DChance]

13 hours ago, Quillback said:

Curious as to what that covers - I'll have to give Bob a call myself.

Just like it sounds. Engine breakdown. for whatever reason. Kind of a safety against more catastrophic things that would cost you more than you're deductible. great if you are out of warranty. Only stipulation is that your boat cannot be 10 years old or older. 

[snagged in outlet 3]

$223/year.

You have $250,000 bodily injury per person, $500,000 bodily injury per accident and $100,000 for property damage.  With Bodily injury and Property damage you have to be at fault and it covers the “other party”. 

You have uninsured/underinsured boater at $250,000 per person and $500,000 each accident to cover people on your boat if you are hit by someone that either doesn’t have insurance or doesn’t have enough insurance to cover injuries. 

Medical payment are at $5,000 this is for small medical bills and doesn’t matter if you are at fault or not at fault. 

 

Physical damage on your boat is at agreed value of $16,550.  If the boat is totaled by a covered loss Nationwide agrees to pay you that full amount.

Your comprehensive and collision deducible is at $250 - however for every year you go without having a claim that deductible is credited $100.  Now your deductible is $150. 

On water tow is $250

Personal Effects $3,000 - this would be your personal stuff you bring on your boat when you go out when a claim occurs while boating.  It would not cover anything considered boating equipment that is permanently attached to the boat.  It would include “your” boat lift.

Fishing equipment $2,500 limit

[Ketchup]

Thanks snagged. Thats the type of info that helps me. 

[fishinwrench]

So you're covered while in a competition event requiring a regatta permit ?

[Ketchup]

wrench, when i talked to them on the phone they said if im covered it didnt mayter if it was in a tourney or sking. Insurance is insurance they said. 

[fishinwrench]

Well Saweeeet!