Boat insurance companies

Post by **devy** » Fri Nov 27, 2009 5:08 pm

I contacted Desjarding for a quote if I were to buy a Princecraft with a 75 hp 2009 model what the insurance rate would be . The sales person told me to go elsewhere because the insurance that they offer covers everything with $100 deductible . With our house insurance anothe $96.00 per mnth!!!. What companies are people using Thanks !!

Post by **Mr.J.** » Fri Nov 27, 2009 7:09 pm

I have Aviva

Haven't done a claim so I cannot speak of service

$500 a year

Full coverage

Post by **Seabass81** » Fri Nov 27, 2009 9:38 pm

Aviva here as well. The nitro is $400'ish full coverage.

Post by **devy** » Sat Nov 28, 2009 8:24 am

Thanks for the suggestion..sure is better then $1100 per yr

Post by **fishmaster** » Sat Nov 28, 2009 5:43 pm

I use State Farm for my Triton and they are very reasonable. I pay $600 a year taxes and everything and that is replacement value on it. I haven't had to make a claim but I made a claim one time on my truck and they were great to work with. Give them a try.

Post by **almontefisher** » Tue Dec 08, 2009 2:52 pm

fishmaster wrote:I use State Farm for my Triton and they are very reasonable. I pay $600 a year taxes and everything and that is replacement value on it. I haven't had to make a claim but I made a claim one time on my truck and they were great to work with. Give them a try.

Careful fishmaster. You may want to get that in writting as I do not know a company out there that does replacement cost on boats...It is always ACV. As for insuring them that price does seem a bit high but they probably quoted you this because they do not want the liability exposure.

Post by **Mr.J.** » Tue Dec 08, 2009 3:17 pm

My insurance gave me a value quote

Less then brand new but more than what i paid for it

They said for your policy we will give you X amount of dollars for your boat, motor and trailer

Post by **almontefisher** » Tue Dec 08, 2009 3:24 pm

Mr.J. wrote:My insurance gave me a value quote

Less then brand new but more than what i paid for it

They said for your policy we will give you X amount of dollars for your boat, motor and trailer

That is always the max end of the payout scale J...it usually works out to a good deal though.

Post by **fishmaster** » Tue Dec 08, 2009 8:15 pm

Sorry I was wrong on my statement. My insurance is just like Mr.J's. They have it insured for more than I paid for it but less than it costs brand new. I do have the value in writing as well as an amount set for contents in writing. As far as the price goes I thought it was reasonable. I was paying $500 a year for a 16ft Lowe with a 70 hp before that so I thought there price was pretty reasonable. I'm sure I could maybe save a few bucks if I shopped around some of the Marine Insurers but I'm leary of them. I had a bad experience with a snowmobile at one of the major sled insurers that left a real bad taste in my mouth(as well as an empty wallet) so I don't really trust these niche specific companies.

Post by **almontefisher** » Wed Dec 09, 2009 9:40 am

Glad to see you are on top of it Fish...hate to see you with more bad taste in your mouth. That is the main reason I got into this gig was because I got royally screwed over by an insurance company and and vowed to make sure people knew the whole 9 yards when they get insurance. So I mention the good, the bad and the ugly of insurance.

Post by **LeGrand** » Wed Dec 09, 2009 12:56 pm

Wait for the 2010 renewal. You'll be surprise at the HIGHER rates for coverage.

I know, I got a call just last week. Had to make a delicate decision to maintain the cost inside our family budget. Never made a claim for anything, house, cars, other related insurable items, but because of the claims for theft, water damage in basement, etc. etc., from many people, all insurance companies are adjusting (money grabers).

Post by **almontefisher** » Wed Dec 09, 2009 1:35 pm

LeGrand wrote:Wait for the 2010 renewal. You'll be surprise at the HIGHER rates for coverage.

I know, I got a call just last week. Had to make a delicate decision to maintain the cost inside our family budget. Never made a claim for anything, house, cars, other related insurable items, but because of the claims for theft, water damage in basement, etc. etc., from many people, all insurance companies are adjusting (money grabers).

Now it is more than just that LeGrand. We pay a heafty price for claims also. We just had a total lose fire to one of our homes and we just finished paying 30% more for the house because we are the insurance companies. Home builders are taking their fare share for this as well. When costs are 30% more for us to rebuild than an average builder it will reflect in the premiums. Also we like other companies have started to use credit score as a rate factor and alot of people who have bad credit ratings will see some large increases. Not saying that is what is happening with you. Some of our clients have gone up 75% due to age of home, semi protected zones, credit score, type of heat etc. But in the long run if builders would not over charge for their work because we bend over and pay to get our client living in a home again then premiums would be much lower but we need to bend over and take the quotes the way they are to make sure our clients are happy.

Post by **Andy_L** » Wed Dec 09, 2009 2:12 pm

how the hell does credit score have any impact on someone's insurability Pete?? maybe i can see that if they are paying the premium monthly...but credit = rate?? THAT sounds like a scam

Post by **Peppino** » Wed Dec 09, 2009 4:29 pm

Banks do the same thing Andy, in the money business everybody is a risk, unless of course you prove otherwise. If you have bad credit, you're basically a liability and you remain at their mercy.

We used to turn people down who wanted to fully secure a loan even after years of a personal bankruptcy.

As for Insurance companies doing your credit rating? They still require your authorization....

The only good thing about Insurance and Financial institutions is to become a shareholder.

Post by **almontefisher** » Wed Dec 09, 2009 4:53 pm

Andy_L wrote:how the hell does credit score have any impact on someone's insurability Pete?? maybe i can see that if they are paying the premium monthly...but credit = rate?? THAT sounds like a scam

We do require your permission to obtain what we call an insurance score but that is a fancy term for credit score. Now we never know what your score is Andy but we get an insurance score and to be honest we can figure it out if the score is high. Apparently it has been proven that people with poor credit score have more claims. Now this is directed toward smaller claims than large ones because large claims are unpredictable to a point. Small claims though if you think about can happen pretty easy...Lets say you have poor credit scores so that means you do not pay bills on time, have many NSF's etc and usually this reflects the fact that you don't have money. So one day you need a bit of money for a car repair or need the roof redone so you " create a claim " and we pay. I will be one of the first to say that I do not agree with it but all companies use it. We just are up front with it and let you know we use it.