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I'm looking to buy a boat this spring, a soon to be 1st time boat owner after years of waiting. I am looking at something in the 17 foot, 90-115 Hp range, new.
I don't know anything about boat insurance. Price range? Things I should look for? Things they try to sell you that you do not need? Suggested companies that you have had good experience or bad (PM me on that one if need be)
I'm really a novice at this and have no idea. Any pointers would be muchly appreciated
I just bought a new 17' boat aluminum with a 115hp. My previous boat was a 16' with a 25hp and it was covered uder my house policy so this is new to me too. What I have found so far is that the insurance will be around $500 yearly. Some policies only cover the use of the boat from May to November so if you use the boat in early spring or late fall then make sure you are covered during those times for more than storage only.
I don't post much but do read many of the discussions.
Regarding boat insurance..... a few years ago, i was having a heck of a time trying to find an insurance company willing to insure my ATV.
Someone suggested Anglers & Hunters Insurance Brokers.
They cater exclusively to OFAH members.
They insured my ATV and since then, i've put everything under them...one monthly payment for house, cottage, vehicles, boat and atv.
They have good rates, don't charge interest on monthly installments and i'm not employed by them
My boat is also covered under my house INS.
I have a 19ft lund with 115 honda and pay 52 a month.
I personally think that is to much but i guess it is cheaper than a snowmobile.
The price yu will pay for insurance will depend on how much the boat is worth.
If you buy a boat have the seller brake down price of boat,motor and trailer.
My Insurance wanted price off all incase someone only steals the motor.
Think it be easier to steal boat than 500lb motor.
I bougt a new Princecraft 176 2 years ago with a 115 merc. I pay $56 a month for a dedicated boat policy that covers everything. Look for discounts for depth finders, GPS, radio etc
I just called yesterday my homeowners insurance company for the demo boat that Fish-hawk used last year and that I bought at the Boat Show held here in Ottawa last month and the price varies depending on how much deductabile you are willing to pay. Also if you want to pay replacement cost or depreciation price. Was suggested to go with the replacement value for the first few years and then as the boat gets older change over to a depreciating value policy. Again like it was stated already price varies according to the value of the boat,motor and trailer. I got a quote of 600 to 700 dollars a year but I never even thought that you could get it just for the summer season. I think I would like it covered for the whole year just in case someone decides to steal it in the off season. There is definitely a lot of variables and I guess it's probably a good idea to shop around.
HitmanHill wrote:I never even thought that you could get it just for the summer season. I think I would like it covered for the whole year just in case someone decides to steal it in the off season.
Just to be clear, I was told the policy would actually cover fire and theft and vandalism for the whole year but only covers you on the water from May to Nov. So if you fish into Dec like I do then make sure you are covered for liability, collision. It was less than $20 to extend full coverage for the whole year.
Nacho; nothing crazy about protecting yourself, anything could happen and the last thing you want is to be paying out of your pocket for the rest of your life for the little extra your premium would cost you. I think we all hate paying but the feeling you get knowing you don't have to worry if something goes drastically wrong is all worth while.
