Posted by Mark Finkenstaedt on 08/06/09 - 8:25 PM
#1
I'm a year into 'newbie" ownership after buying a 2001 Dauntless 18 which is being re-powered.
Insurance is due. I presently have Progressive/USAA and a year ago I was only concerned with covering the cost of the boat (imagine anything going wrong on a boat). I paid about $273 for progressive including the trailer.
Here's my question.
1. How do I value this boat now with the new engine? Hull + Motor? (anyone know the value of a 2001 Dauntless 18 Hull)
2. I filled out a BoatU.S. online insurance quote process and got a quote for $358 which includes:
Boat and Equip - 17,000
Boat Liability (protection & Indem) 500,000
Fuel Spill Liability - 800,000
Medical - $1,000
Trailer - 1500
Uninsured boater - 500,000
Commercial Towing 250/500
The Progressive for example is only 100,000 each person to a total of $300,000 but Medical 5,000 per person and no mention of spillage. Strong in areas less in some - typical insurance tactics.
I realize there is no cut and dry solution and the cost is really marginal but am I over insuring and any one have any experience with BoatU.S. Recommend or not - things I should push up in favor of lowering others due to our unsinkability etc.
Medical and injury is priority, I would imagine as a $17K boat is no big deal compared to hospital bills.
I read on the other Whaler site about a guy having his boat stolen from Chesapeake Whalertown and that he was having a bit of an issue with BoatUS reception to his issue.
Am I over insuring or is is "six of this and half a dozen of the other" or just a dumb question?
Posted by Guts on 08/06/09 - 8:48 PM
#2
It's called Agreed Value With State Farm... the difference is the Value you state is your premium cost. With others it is discounted if you will or called deprecation year after year. With Agreed Value as stated before you pay a premium for a stated valve. I looked at all state no way but they were chipper . I say Go state farm and insure it for what you want ay a total loss or just the boat loss/ if you were to sink? your BW. I guess it could happen if run over by a tanker.
Posted by MW on 08/07/09 - 4:08 AM
#3
I have "State Farm" cost's about $200 a year and cover's everything, they seemed to know what they were doing, and the agent didn't get mad when Chris (4 at the time) broke the agent's "mint" model car on his desk. Even if you only own a "Row Boat", you should have a $9 a month "Liability" contract in case someone get's hurt. For some real inexpensive "Life" insurance, wear your "PFD" at all times, it's the "BEST" coverage that you can get !