Boat Insurance

K

kennharriet

Member
We are re-evaluating our insurance needs as we have upgraded over time. I did not see any current threads so am curious what folks are doing. I read in previous threads that "agreed value" is important vs. "cash value". Currently all of our other insurance is with State Farm, but our local agent does not seem to understand any concept beyond blue book value.

Any suggestions? Should we consider a survey to document value? Thanks in advance. Ken
 
I have Progressive, thru International Marine Insurance for several boats. They take my "Agreed value". I updated it with just sending them an e-mail stating what upgrades I had done, to increase the value last year.
 
We use Progressive and they have replacement cost policies. Never had a claim but they are easy to work with. There are plenty of insurance agencies and only one you.
D.D.
 
I have Progressive. I had a claim on a previous boat. It got totaled early on while being towed. Progressive paid the price I paid for the boat, trailer, engine including the registration fees.

They got a little annoyed because it took me more time than they liked to pick up the check.
 
I have Progressive too and they have been good. I haven't had many claims, but the trailer did fail forever ago and they covered the boat damage without questioning or silly delays.
 
I have State Farm and I don't know what your agents problem is. I had no problem insuring to my agreed value. I insured my boat for $7000.00 more than I paid for it. This would cover the expected gain for the improvements I was making. You need a new agent!
 
State Farm Insurance Company has covered a variety of my US domiciled vessels for years without any issues regarding "agreed value". Have your agent contact the Bloomington, Illinois headquarters office for details in this regard. You will find their quotes very friendly and competitive!
 
We keep 2 boats in Florida and insure them through our Indiana homeowners insurance from Liberty Mutual for the best coverage and lowest cost. Last year we switched to Amica for home owners and auto insurance due to lower rates but they will not cover provide coverage for Florida home and boats. We switched from Citizens Insurance through the Florida state government (Google it for wasting millions of bucks and underfunded if another big hurricane hits) due to several reasons and found another insurance company to cover the FL home but will not cover our boats. Another additional work we have Progressive for the boats. Last year a driver with Progressive insurance hit our daughter's car and she was hurt and took months recover. The police report placed 100% blame on the other driver yet Progressive keep hounding us that she was 25% at fault. A special case of stupid, After a month of this nonsense, we hired one of the best legal team in Indianapolis and seek all that is due to us plus compensation with Indiana limits and insurance policy coverage.
The case goes to court soon and filing a complaint with Indiana Attorney General and Dept of Insurance against the claim adjuster and Progressive To me, they will settle small claims but drag their feet on big claims . After we settle likely for peanuts, we will drop Progressive and never purchase insurance from them. I don't trust them. off my soap box
 
We purchased a Chubb policy from Rich Haynie Insurance in Seattle after some comparison shopping. Robin expended much patience with my questions and got us a quote for a policy that was ideal for our needs. Price was not the primary concern, but the one we settled on was the least amount of money.

I had a claim last fall as the boat was burglarized while at the shop. There was no damage - it was all "personal effects" loss. Chubb sent a check after a short, pleasant, phone call and a fax of the police report. There was no deductible. Our policy came due in January and there was no change in price.

We previously had Progressive and never made a claim. They were easy to deal with, but they were 80% more than Chubb on our current boat.
 
I have American Family for all my coverages, and have been happy with them. Of course they are home ported right here in Wisconsin in Madison. Colby
 
Back
Top