boat insurance 2024

gimruis reply :

I know every state may be different. Minnesota does not require boat insurance on a watercraft (unless you are still paying off a loan) but considering how dirt cheap it it, I can't quite figure out why someone wouldn't have it. Who's got it, is it required where you live, and what is the cost?

WRB reply :

Personal property and liability may be cover with some homeowners insurance plans, suggest you check what you have.

Tom

slonezp reply :

I think it is foolish to not have it.

Ski213 reply :

Good point above about checking on what your homeowners covers. I have a separate policy for the boat. It's around $50 a month. I dont think I'm required by law to have it but no way I wouldn't have it either way.

I made a split second mistake on a dirt bike last year and if I hadn't had insurance I would have racked up enough debt in 9 days to buy a pretty nice house.

Bluebasser86 reply :

I have a ton of coverage on my bass boat for less than $40 a month. Not my current boat but my last boat burned up a wheel bearing and had to be hauled home on a flat bed about 70 miles, didn't cost me a dime thanks to my insurance.

I added my johnboat this past year, more to cover my gear in the boat while fishing and other people's property than my actual boat, but it made my payments go up an entire penny a month Why someone wouldn't get insurance on their boat is beyond me.

Fishing Rhino reply :

On 10/24/2018 at 9:05 AM, slonezp said:

I think it is foolish to not have it.

Not to mention irresponsible, unless you have the means to pay a large settlement in the event you at fault for injuries, property damage, and loss of life.

It's one thing to gamble with your own resources, but it's a whole 'nother thing when you leave someone else holding the bag because you do not have coverage or the means to make good if on damages you cause.

NHBull reply :

While I see the insurance nessessary.......many don’t get the “environmental coverage “ benefit. It is the coverage that pays for gas, oil, etc spills. The smallest of spill can cost 500K and the boater is responsible. I think I pay 35.00 a year for this rider. US Boaters can answer questions on this topic

WCWV reply :

I wouldn't even consider not having insurance.

I've been with the same insurance company for 40 years and they've insured every boat that I've ever owned in the past 30 yrs.

My 190 Tracker that I have now has $25000 on boat & motor, $1500 on the trailer and $300,000 Liability with a $500 deductible.

It runs me $292.00 per year.

I checked out another company when I purchased it and it was a little cheaper, but I like having my agent 3 miles down the road.

If I would ever hit something and tore it up, I'm covered.

Russ E reply :

I have full coverage on my boat.

Not sure why anyone would not insure their boat and equipment. you should at least have liability.

my policy includes on he water service and towing at no cost.

Not sure how many people around here offer an on the water towing service.????

tander reply :

Has anybody ever used Worldwide Marine Underwriters. They advertise low cost with great support. I read several reviews and they were good.

slonezp reply :

On 10/24/2018 at 11:48 PM, tander said:

Has anybody ever used Worldwide Marine Underwriters. They advertise low cost with great support. I read several reviews and they were good.

I use them. Better coverage and about 1/2 the cost i was paying with state farm

tander reply :

On 10/24/2018 at 11:58 PM, slonezp said:

I use them. Better coverage and about 1/2 the cost i was paying with state farm

Thanks, I have State Farm now.

Further North reply :

On 10/24/2018 at 9:05 AM, slonezp said:

I think it is foolish to not have it.

This.

For a couple hundred bucks a year you buy protection form a host of things...including other idiot boaters.

Mikeltee reply :

The first boat I bought, I got from a friend and he said it was in perfect working condition. Nothing wrong with it he said. I put it in my slip at 8pm. I came back at 6am the next day and it was 80% submerged. The billows were rotted out. Insurance saved the day. Fast forward 8 years... A buddy is about to buy my boat. I told him I would teach him to be a captain. He shows up 3 hours early and decided he didn't need the lessons. I arrive and boat is underwater. Insurance saves the day.

I think I paid about $700 a year after these claims. I decided to switch to a pontoon boat... $60/year! I had that boat for 8 years and never had to put a dime into it, aside for gas and since it was a pontoon, it could not sink. I know what my next boat will be

Krux5506 reply :

I have it through Progressive for $150ish a year but not the full equipment coverage they wanted to sell me (I think it covered 2k in fishing gear). Not really a big fan of paying for insurance but the reality is that accidents can happen and when it comes to insuring toys like boats/snowmobiles/atv's the price is cheap enough to not really care much.

Log Catcher reply :

I have insurance on my boat. Cost is about $220 a year. I don't believe it is required here. As for what NHBull mentioned about environmental coverage I had never even heard of that. I may have to check and see what I can find out about it. I also have road side assistance in case I ever have a problem getting to or from the fishing hole.

JLBBass reply :

Allstate, FULL coverage ($28,000 replacement cost, $250 deductible), $219 a year

moguy1973 reply :

Mine is about $120/year for an 08 Tracker with a 60hp Merc on it. I think I put a $10,000 replacement value on it. Not required in my state.

OperationEagle reply :

On 10/24/2018 at 7:36 AM, gimruis said:

I know every state may be different. Minnesota does not require boat insurance on a watercraft (unless you are still paying off a loan) but considering how dirt cheap it it, I can't quite figure out why someone wouldn't have it. Who's got it, is it required where you live, and what is the cost?

OK...almost a perfect match for your question.

State:MN

Boat: Ranger RT178

Engine: Merc 4 Stroke, 60HP (I think you have a 75HP?)

Year on Both: 2015

Insurance Company: Progressive

Policy: Total Replacement Cost (NOT Replacement Value)

Policy Cost: $132/yr

Cant remember details on what else I added in terms of gear value, etc. but this should give you a close (enough) ball park.

Used Worldwide Marine as the agent. Bob Luellen

jbuchanan reply :

Just because your state might not require boat insurance the lakes that you boat on may require it.

Like everyone else mentioned it is just good practice to have regardless if required or not. It is too cheap not to have it.

Goldstar225 reply :

Arkansas requires liability coverage for all boats 50 HP and above. My 87 tracker with a 70 horse cost me $7.00 a month.

I now have a PT 190 with full coverage, IIRC it's $50.00 a month.

ohboyitsrobby reply :

I have progressive too. I think I pay $45ish a month for a whole bunch of coverage on a 2000 javelin with a 150 Johnson. I'm fairly sure my insurance would replace my cricket cage if I had one and it blew out. Why wouldn't you?

Sam reply :

Who's got it Me

Is it required where you live - No

What is the cost? $303

gimruis reply :

On 10/26/2018 at 2:24 AM, OperationEagle said:

OK...almost a perfect match for your question.

State:MN

Boat: Ranger RT178

Engine: Merc 4 Stroke, 60HP (I think you have a 75HP?)

Year on Both: 2015

Insurance Company: Progressive

Policy: Total Replacement Cost (NOT Replacement Value)

Policy Cost: $132/yr

Cant remember details on what else I added in terms of gear value, etc. but this should give you a close (enough) ball park.

Used Worldwide Marine as the agent. Bob Luellen

Ya dude that's really good. I pay about $200/year for mine which is also a 2015. Mine's got a 75 hp motor so maybe that's why my policy might be a little higher. $132/year seems pretty absurd to NOT have it.

Fishing Rhino reply :

On 10/26/2018 at 2:24 AM, OperationEagle said:

OK...almost a perfect match for your question.

State:MN

Boat: Ranger RT178

Engine: Merc 4 Stroke, 60HP (I think you have a 75HP?)

Year on Both: 2015

Insurance Company: Progressive

Policy: Total Replacement Cost (NOT Replacement Value)

Policy Cost: $132/yr

Cant remember details on what else I added in terms of gear value, etc. but this should give you a close (enough) ball park.

Used Worldwide Marine as the agent. Bob Luellen

Does that include liability coverage in the event you damage someone else's property, or cause personal injury, or death?

RyneB reply :

I have full coverage on my Skeeter. I pay 110/month. I bent the shaft on my minn kota the other day. they gave me a check to cover full cost of motor plus taxes and install and they waived the deductible.

Russ E reply :

On 11/3/2018 at 11:12 AM, RyneB said:

I have full coverage on my Skeeter. I pay 110/month. I bent the shaft on my minn kota the other day. they gave me a check to cover full cost of motor plus taxes and install and they waived the deductible.

That's great that it was all covered.

I have owned Minn kotas for 30 years. I have hit trees with the trolling motor head so hard, it nearly threw me out of the boat. Without damaging the shaft. It usually just bows and snaps back.

A little off topic but I am curious. How do you bend the shaft of a Minn Kota trolling motor?

Nevermind I see you explained it in a different thread

Edited November 3, 2018 by Russ E
Update

Mjmj reply :

On 11/3/2018 at 11:24 AM, Russ E said:

I have full coverage on my Skeeter. I pay 110/month. I bent the shaft on my minn kota the other day. they gave me a check to cover full cost of motor plus taxes and install and they waived the deductible.

Not sure, but I think the shafts have a lifetime warranty.

RyneB reply :

no clue what actually broke. But this is what it currently looks like. My buddy told me it's the outer shaft. I'm debating putting that money towards an Ultrex.

Mjmj reply :

Its the outer sleeve. Pretty easy fix. Its about $30. Could fix it and sell it

kjfishman reply :

I pay $100 a year on my 2001 Fisher Marine deep V. Progressive was the best deal I can find. Not required in Missouri.

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