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BoatUS boat insurance......

I was with State Farm with all my insurance.  Over the past 5 years all of my policies kept going up each year.  Finally I had it and decided to shop around, I spoke with a broker that had access to many companies and he shopped it all for me.  I am not a minimum insurance kind of guy and told him the levels I wanted and did my best to ensure was comparing apples to apples.  Turns out that I got a nice discount by having our two cars and the house with one company but 5 other properties are with 4 different companies to maximize my savings so I don't think you have to or should put all your eggs in one basket
 
So I received my BOATUS renewal advising of the Geico Marine change. Those with other insurers what are the exclusions? I see animal damage is excluded along with scratches and dents. I fear a raccoon will get in the boat during the off season even though I relocated two this fall.


Seems like limited coverage.


I know some have filed claims for dented panels and scratched toons and received an insurance recovery so have these exclusions been tested by anyone with boatus?
 
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lakeliving said:
So I received my BOATUS renewal advising of the Geico Marine change. Those with other insurers what are the exclusions? I see I animal damage is excluded along with scratches and dents. I fear a raccoon will get in the boat during the off season even though I relocated two this fall.


Seems like limited coverage.


I know some have filed claims for dented panels and scratched toons and received an insurance recovery so have these exclusions been tested by anyone with boatus?
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Please keep us updated, appreciate your expertise here with the fine print as we still have BoatUS, no claims.
 
TomS said:
Please keep us updated, appreciate your expertise here with the fine print as we still have BoatUS, no claims.
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We non renewed the boatUS policy and added the Benny to the progressive jet ski policy. Saved money and have better coverage. I was not comfortable with the exclusions with boatUS/geico. Fingers crossed I won't need to test the policy. 
 
Based on a thread from a few years ago, everyone was on the BoatUSA bandwagon due to their oil/gas spill and clean up coverage.  Seems like the consensus has shifted...?  I appreciate everyone's contributions to this thread as we will need to make a decision when our new boat comes in this spring.


My current thinking was to either go with BOATUSA, or with our current insurer: Farm Bureau.  They gave us a decent estimate quote, we currently have everything else with them (homes and auto) which gives a lot of discounts, and we have a large umbrella policy under them for anything "large" scale across the board.  


What I have not had time to do yet is really read through exclusions, and the details in the various policies.  Based on these posts, sounds like I will need to do that before making a final decision this spring.
 
Read the fine print. I've never based my insurance needs soley on best price. I recently switched after reading further into the fine print. As someone in the insurance industry I can attest that a couple words can really change the policy. Plus, you have to look at your exposure and likely perils and test the policy by reading through a scenario that will tell you a lot. We have also passed on insurers because they could not offer us enough capacity (higher limits). This goes for both home (sump/water backup limits, all personal property covered or just a list of 10 items no one owns), auto, umbrella etc.
 
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I feel compelled to share an experience with one company people have mentioned in this thread. When my dad and step mom were killed in a motorcycle accident, I managed both of their estates.  They had Allstate and Progressive between their homes and vehicles.


Progressive Insurance WAS NOT good to deal with in this tragedy.  Adjectives that describe them at various stages of the accident, funeral, and estate processes are: callous, incompetent, slow moving, reluctant to help.  At EVERY stage of the estate process, Progressive was a nightmare. One example of many I could provide: Progressive literally "lost" our claim paperwork multiple times, at two stages of the process, by three different people.  Mind you, this is in a situation involving the death of two people.


Just to be clear, MOST companies I dealt with were amazing, compassionate, and very competent.  Some even went way above and beyond anything they needed to. However, there were a select few companies that were just God awful!  Progressive Insurance is one of three that was horrible.  


For Progressive, I have broken my personal rule of disparaging businesses as we can all have a bad experience with one person that doesn't fairly represent a company as a whole. In this case, Progressive had systemic break downs in an accident claim involving two deaths.


I can appreciate that they often have cheap rates.  We considered them a few times over the years prior to this past year and my parents accident/deaths.  However, from this personal experience, I would have ZERO confidence in them doing their job appropriately or competently in a claim situation.  I would hate for others to have to deal with them in the ways I had to.
 
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Sorry to hear how you were treated especially with such a tragedy. I guess for me I go by what is in the policy (legal contract) as I know a court would ultimately side with me. I'll chance it taking a little longer for a recovery if the terms are appropriate and the company is financially sound.


Thanks for the feedback though as I have never filed any claim ever. I'm an insurers dream customer!
 
lakeliving said:
Sorry to hear how you were treated especially with such a tragedy. I guess for me I go by what is in the policy (legal contract) as I know a court would ultimately side with me. I'll chance it taking a little longer for a recovery if the terms are appropriate and the company is financially sound.


Thanks for the feedback though as I have never filed any claim ever. I'm an insurers dream customer!
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Thanks Lakeliving.  Trust me though, once you spend literally 2-4 hours nightly after work for days on end...then weeks being put on hold, being transferred, dealing with agents, reps, and eventually lawyers, it isn't just about the terms in the policy.  Those will hold up in court, but that is a long, grueling, and stressful "road trip" you don't want to go on if you can avoid it.  :-)
 
Do not ASSume that all insurance policies are the same because frequently, they're not! For the most part, you get what you pay for. In other words, cheap insurance is often (but not always) less insurance by way of coverage, exclusions or limits. The "name your price" policy offered on TV is accomplished by removing coverage. 
 
Here is how it works, the buyer picks two from the list below, the insurer modifies the remaining one accordingly.


1. Coverage's (Limit/terms etc.)


2. Deductible


3. Premium


Regardless of how you test this you will see my point!


And I hear you Viking and can sympathize with you. Dealing with incompetent people is exhausting. 
 
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lakeliving said:
And I hear you Viking and can sympathize with you. Dealing with incompetent people is exhausting. 
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It sure is.  I cannot imagine what it is like for people that have to deal with me.  LOL. JK...I hope.  :wacko:
 
Andy, do you think Progressive would have treated Vikingstaff better if he had Progressive though an independent agent?  That's how I'm set up.  Does the independent agent carry some weight due to the threat that they could stop selling Progressive? 


Separate question...  If Geico underwrites BoatUS, who calls the shots on claims?  Geico or BoatUS?
 
kaydano said:
Andy, do you think Progressive would have treated Vikingstaff better if he had Progressive though an independent agent?  That's how I'm set up.  Does the independent agent carry some weight due to the threat that they could stop selling Progressive? 


Separate question...  If Geico underwrites BoatUS, who calls the shots on claims?  Geico or BoatUS?
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I am curious on the Geico and BoatUS question too.  Also, that's a good point or question with what happened to me with Progressive. If it were my actual coverage, with my agent going to bat for me (instead of me being an outsider managing their parents estate/next of kin), perhaps that would have been different.  I don't think it would have prevented a couple of the competence/sloppiness issues, but at least then an agent on the inside would have been straightening it all out.  Never thought of that.
 
We have Farm Bureau for our house, cars, boat, and dock, along with a 1 mil umbrella policy. We have had 2 claims, one for the boat from muskrats ( 2k in wiring) and one for the water leak last September which was about 30k. Took pics, cut the checks, no hassle.
 
cwag911 said:
We have Farm Bureau for our house, cars, boat, and dock, along with a 1 mil umbrella policy. We have had 2 claims, one for the boat from muskrats ( 2k in wiring) and one for the water leak last September which was about 30k. Took pics, cut the checks, no hassle.
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Did your premium go up?!? 
 
I mentioned it years ago and will do so again


I have found having multiple policies with the same carrier has given me major discounts


It also gives you significant attention when getting prices from a competitor looking for your business


We have 7 policies, I know the old adage insurance poor, but if you don't protect your most costly toys and investments  something is wrong.


Going to Boat USA with one policy isn't the same as going to a major carrier with 7 policies !!


Just my Humble Opinion :)


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