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wawrecker

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I received an insurance quote from my regular agent prior to the boat arriving it was about $700 for the year full coverage. I just received an email from the agent stating it would go up to $1400 a year as they thought the boat was an inboard outboard and not an outboard as it is and the rate is more for them. Anyone else heard of this? Whats the added risk for the outboard? Thanks
 
wawrecker said:
I received an insurance quote from my regular agent prior to the boat arriving it was about $700 for the year full coverage. I just received an email from the agent stating it would go up to $1400 a year as they thought the boat was an inboard outboard and not an outboard as it is and the rate is more for them. Anyone else heard of this? Whats the added risk for the outboard? Thanks
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Not specifically related to the onboard outboard. When I quoted my insurance it varied from $600 to $1800 for the same coverage from two different providers.
 
Something doesn't add up. I'd ask your agent for a couple more quotes.
 
My guess (and it is just that) is that they are separately insuring the boat, and then the motor, and thus the increased cost. With an outboard, the motor is separate from the boat for insurance purposes. Maybe that had slipped by initially, and now the bump up is with the separate motor insurance bundled into the overall quote...?
 
Check BoatUS. $1400 sounds ridiculous. I only have a 20HP motor but I’m at $164/year, full replacement value and $800K+ Spill coverage.
 
I have an SLX with a 50 hp insured with progressive. Does include spill coverage. I paid $139 for the year in April. Zero deductible since I’ve been with them for a while, including my previous boat. I realize your Q is a much more expensive boat, but still seems excessive. Definitely get more quotes.
 
Check travelers. I have had them for years on all my boats and they have been excellent for customer service and reasonable rates. Let me know if you need my agents contact info.
 
When I bought my boat a few months ago I called my agent at State Farm. $980 per year from them. Called BoatUS and got it for 1/3, with exact same coverage.
 
swiftm said:
I have an SLX with a 50 hp insured with progressive. Does include spill coverage. I paid $139 for the year in April. Zero deductible since I’ve been with them for a while, including my previous boat. I realize your Q is a much more expensive boat, but still seems excessive. Definitely get more quotes.
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Same here. Spill coverage is adequate. $155/year.

2012 24SSL, 150hp, $40k replacement.
 
One thing to keep in mind when comparing insurance quotes from more than one company is the coverage limits. Often times the coverage levels between companies vary. The lower cost policy is likely to have lower coverage levels, lower than you want.
 
BoatUS is $343 , covers boat, motor and trailer. Covers a lot more but that's it in a nut shell. 2018 25 GCW, Yamaha 250
 
$178/yr Progressive, that along with the 1mil umbrella cost $338/yr
 
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