What's a fair price for boat insurance?

[Bassnailer]

Hello, I have a 1994 Stratos 201 Pro XL with a 2004 Mercury EFI. I estimate the boat (with updated electronics) is worth about $10,000 and the motor is worth about $5,000 (less than 300 hours and in near perfect condition). To insure them with Farmers insurance, whom I have my home and auto policies through, is $667 per year. I was just wondering if this is on par with what the rest of you are paying, or are there significant savings to be found elsewhere?

[ThomasD]

Too many variables. Insurance is based of years of provable experience, age, credit rating, where its stored, claims history, just to name a few.

[sushi520vx]

Shop around, but make sure your comparing apples to apples. I pay $319 for physical damage, theft, and fire for a 04 Ranger520 (no liability). Motor and trailer included. And I believe its set up for $30k replacement value. This policy is thru my my wife agency, no discount but she has access to multiple companies who write marine policies. But....we know we can find better rates out there. Google marine insurance and shop around. I know I can get insured for less and you should be able to get the same coverage for around $200-250.

[wmitch2]

Shop around, but make sure your comparing apples to apples. I pay $319 for physical damage, theft, and fire for a 04 Ranger520 (no liability). Motor and trailer included. And I believe its set up for $30k replacement value. This policy is thru my my wife agency, no discount but she has access to multiple companies who write marine policies. But....we know we can find better rates out there. Google marine insurance and shop around. I know I can get insured for less and you should be able to get the same coverage for around $200-250.

NO LIABILITY ???? That's what I would want the most !! I pay around $460 per yr with 300k liability thru Allstate.

[Nickstanislaus]

Give Bob or Bill a call at Worldwide Marine Underwriters.

[SAL321]

I just shopped around recently. I would avoid Markel.

I ultimately wound up with Worldwide but found United Marine Underwriters to be quite competitive with a lower deductible.

[BILL LO]

I just shopped around recently. I would avoid Markel.

but found United Marine Underwriters to be quite competitive with a lower deductible.

This ^^^^ United Marine been with them for 3 years great pricing , you can pick and choose your coverages and values and deductibles'

[nicapopolis]

NO LIABILITY ???? That's what I would want the most !! I pay around $460 per yr with 300k liability thru Allstate.

We are about the same for our 2007 Champion 21SX. Ours is based on agreed value + $10k in personal property.

We have $500k liability on the boat backed up by $1 mil with our umbrella policy.

[Bassnailer]

Too many variables. Insurance is based of years of provable experience, age, credit rating, where its stored, claims history, just to name a few.

I'm guessing I should be in the lowest tier risk wise, as I am 46, have 30 years of provable experience and training (I operated a patrol boat for the sheriff's office for many years as a LEO), good credit, never made an insurance claim, and its stored in a climate controlled garage year round. As such, I am asking to find out the lowest rates that can be expected, while still being covered by a reputable company. The quote I referenced seemed a little high.

[Junk Fisherman]

State Farm

$267 300K liability, 30k replacement value- other stuff too.

Just paid my bill today. I do have home, auto, and a boater safety class discount.

[cape cod basser]

Agreed value, $21,000 for boat and motor, $3000 for trailer. $1,000,000 liability. $3000 fishing equipment coverage. $442.00 a year with Travelers insurance.

[518RangerJeff]

If you take a lot of people fishing I would get full coverage. You never know, #hit happens.

[nicapopolis]

Agreed value, $21,000 for boat and motor, $3000 for trailer. $1,000,000 liability. $3000 fishing equipment coverage. $442.00 a year with Travelers insurance.

I didn't mention who we are with in my post, but pricing is similar to yours and we are also with Travelers.

[DewRonInc]

I have safeco agreed value, with 1m 2 m liability, plus full replacement of electronics and rods reels etc, with all additional and through our business which is higher I think I pay close to 600 year, but really high coverage

[drainplug]

One thing to think about, the difference between 100k and 500k liability is usually about $25 a year. That is best $2 a month you will spend.

[Fx20 2011]

First price will be different in each state. Each state requires their own filings from each insurance company. Not all insurance companies are licensed in all states. Price is a related to several things. Your credit rating plays a large factor. A poor credit rating always equals a higher premium. Next would be coverage along with other factors. It it best to shop for the lowest price balanced with a financially sound company. Just remember poor credit score equals higher premium.

[barkleyhawggitter]

Give Bob or Bill a call at Worldwide Marine Underwriters.

This, Bob saved me a ton of cash.

[Fx20 2011]

I forgot the useless information. $1mill liability, $50,000 physical damage boat and trailer plus bunch of other little perks. $285 a year with Progressive. I have no other insurance with this company.

[Highcentered]

I just shopped around recently. I would avoid Markel.

I ultimately wound up with Worldwide but found United Marine Underwriters to be quite competitive with a lower deductible.

What's wrong with Markel? I don't think their rates are bad for full coverage but also never had to actually use them. Are they impossible to deal with when they have to pay the customer?

[clayshooter]

I got to say, United Marine got my business for sure. 2015 521c with a 250 and it was $389 a year full coverage. Beat the pants off the rest.!!