Insurance

Pat Anderson · Posted: Wed Feb 15, 2023 12:24 pm Post subject: Insurance

Patty here. We are upset. We have had Progressive since 2003. Premiums go up, we get it. Last year was a hefty increase. This year we are being charge $100 more. The reason is, based on our (stellar) credit report, we do not have any revolving loans or payments except one credit card. We aren't getting their lowest rate because we don't have enough debt. We'd like to look into other companies and would like to know who you use and if you're happy. Also would like to know your premium which you can PM us if you're willing to share. Thanks.

ssobol · Posted: Wed Feb 15, 2023 2:42 pm Post subject:

My boat insurance is Progressive. Had it for 10 years on the current boat and also had it on earlier boats. My insurance is quite reasonable for the agreed value. My policy renews in March and I need to up the value so we'll see what happens.

TyBoo · Posted: Wed Feb 15, 2023 5:36 pm Post subject:

I liked Progressive because of their no hassle agreed value. However, their rates got too wild for me a few years ago so I went with Foremost through my Farmer's agent. He saw on Facebook that we were posting pictures from the San Juans and sent me an email invite to get a quote. It was way less than Progressive. Farmer's did not offer marine policies when I asked years back.

The best Foremost would do for agreed value was $38k on the boat plus $5k electronics and some other lower amount for personal stuff. The trailer was set at $2500 value. Progressive was $50k for the boat itself. Foremost also has an higher liability limits and lists the marina as additional covered. Both policies had the traditional offshore towing coverage but I think the Foremost was up to 150 miles instead of 75 miles for Progressive. That's off the top of my head, and as you have seen the past few years there is not much on the top of my head.

Last June the policy from Foremost was $385 for a year, up from $375 in 2022 and 2021. Who knows what the next bill will be. I have never used either of the policies in 22 years of paying for them.

colbysmith · Posted: Wed Feb 15, 2023 7:56 pm Post subject:

For the boat, and everything else we use American Family. They are based here in Madison, and we've been pretty happy with the service. Last year our annual premium for just the boat was $437. Policy is for actual cash value. Colby

chipwagon · Posted: Thu Feb 16, 2023 12:18 am Post subject:

Good idea to compare note on this. My policy is through Coast Underwriters.

Covered for $50K on hull, motors, trailer plus $2 million protection and indemnity the annual premium last year was $843 CDN.

starcrafttom · Posted: Thu Feb 16, 2023 2:00 pm Post subject:

we also use American family for everything. House ,2 trucks, car, jeep, camper, motorcycle and 4 power boats.

-Waypoint- · Posted: Sat Feb 18, 2023 12:23 pm Post subject:

I just repowered my boat a couple of months ago. Figured 16 motors, 26 hull, 5 trailer. Agreed value of $47,000. Progressive declined the agreed value. Sent them the new receipts on everything. Haven't heard anything, its been a week.

They were quick to canceled my insurance after 2 weeks and keep my $850 paid up front for a year.

thataway · Posted: Sat Feb 18, 2023 4:30 pm Post subject:

-Waypoint- · Posted: Sat Feb 18, 2023 5:54 pm Post subject:

Thanks Bob on that recommendation. This post hit a nerve with me. I was thinking I could sell my boat tomorrow for $47,000! Considering what people are getting for boats that have the original engine on them. I was also thinking that my truck is insured with Progressive too. In the unlikely event of an accident towing on the road, the tuck and boat insurance couldn't point a finger at the other one to not cover the boat.