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Thread: Got Insurance?

  1. #1
    outboard john's Avatar
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    Got Insurance?

    I thought I'd share this everybody. I had let my watercraft insurance expire at the end of it's term last October. Saving a little money. The company that I had been with before was Pacific Specialty. Pretty good rate $289 a year. I just signed up with Progressive (on Line) for $229 yearly. Here are my limits I chose. Bodily & property damage-100/300/100. uninsured boater 15/30,000. Med payments-10,000 ea. p. Comp & coll. ded. $250 ea. Personal effects $1000. Ski is an 05 RXP, trailer included, insured for $15,000. Seem pretty good?

    OBJ


  2. #2
    PieManMighty's Avatar
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    I have progressive also for a 2007 RXP with trailer.... I paid $304 / year, but my coverage is a little higher. So you have a decent rate, plus you probably got a good discount for having previous PWC insurance.... progressive was my first pwc insurance.

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    83Gator's Avatar
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    Quote Originally Posted by outboard john View Post
    I thought I'd share this everybody. I had let my watercraft insurance expire at the end of it's term last October. Saving a little money. The company that I had been with before was Pacific Specialty. Pretty good rate $289 a year. I just signed up with Progressive (on Line) for $229 yearly. Here are my limits I chose. Bodily & property damage-100/300/100. uninsured boater 15/30,000. Med payments-10,000 ea. p. Comp & coll. ded. $250 ea. Personal effects $1000. Ski is an 05 RXP, trailer included, insured for $15,000. Seem pretty good?

    OBJ
    The premium sounds good for the coverage, but I was wondering: is your ski & trailer worth $15K. I don't know your market but I don't think you could get that much for an '05 RXP and single trailer in SoLA. You might want to check NADA on line to get an idea of what your values are and adjust your insurance amount accordingly, if needed. I'm pretty sure, in the event of a total loss (on water, which would just include your RXP), you will only be reimbursed for the retail value at the time of the loss. Just IMO...

    I wonder if we have any insurance agents that could speak about this topic "generically" ? I know each state may have their own twist on things.

  4. #4
    outboard john's Avatar
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    My thought on the high value that I placed on the set up was in the event that it was stolen. RXP stg III, UMI steering, stereo. Adds up pretty fast.
    What limits would you increase?

    OBJ

  5. #5
    83Gator's Avatar
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    I'm glad you brought that up b/c I was going to talk about it earlier and then decided it might not apply to you. I'm basing this on my experience as a loan officer, not an insurance agent. That being said, regardless of my opinion, be sure to discuss this w/your agent:

    Some policies do not pay for add-ons, after-market enhancements or modifications. Or, they may pay, but only if you have the mods listed in the policy and/or you have the receipt. I would also suggest pictures of your mods, if possible. For example, your $8,000.00 ski w/the $1,500 paint job, the $750. stereo and $2,500.00 engine mods get's stolen from the pier. I'm sure you're going to have to prove why the NADA valued $8K ski is actually worth $12,750.00. And you certainly don't want to find out that the insurance company would have required this info. at the time of application.
    Once again, just IMO... talk to your agent.

  6. #6

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    Good thread at the perfect time of year. I've never had the insurance but am going to get it this year.

    Last I checked into it Progressive was one of the most expensive.... what are some other companies people have had good luck with?

  7. #7
    Quote Originally Posted by outboard john View Post
    I thought I'd share this everybody. I had let my watercraft insurance expire at the end of it's term last October. Saving a little money. The company that I had been with before was Pacific Specialty. Pretty good rate $289 a year. I just signed up with Progressive (on Line) for $229 yearly. Here are my limits I chose. Bodily & property damage-100/300/100. uninsured boater 15/30,000. Med payments-10,000 ea. p. Comp & coll. ded. $250 ea. Personal effects $1000. Ski is an 05 RXP, trailer included, insured for $15,000. Seem pretty good?

    OBJ
    Good price. I pay about the same. If anyone's uninsured you should think about it. I had a brand new, 40 hour '07 RXP. I hit something submerged and split the keel of the hull, the motor mount and the 'glass over the drive shaft. Totaled. And covered. Got a new '08 RXP-X. My actual loss because of depreciation and deductible was about $800. Not bad. I bought the RXP-X for $200 less than I had bought the RXP so the loss didn't hurt as much.

  8. #8
    I had Progressive and switched to Allstate. I found Allstate much more competitive in the S. Florida area and had no idea that they covered PWC. I currently have covered a 2006 RXT. My coverage limits are bodily & property damage-100/300, UM 100/300, Med payments-5,000 and my total is $127 a year. Next month I am adding a 2003 RXDI (currently with Progressive and paid up for the year) and Allstate in only bumping my premium up $81 with the same coverage limits once the RXDI is added. My friend recently insured his 2007 GTI - coverage limits bodily & property damage-100/300, UM 100/300, Med payments-5,000, Comp/collision -$1,000.00 ded w/payout of $7,500.00 and is paying $198 a year.

  9. #9
    12timeworldchamps's Avatar
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    Quote Originally Posted by abcgroup View Post
    I had Progressive and switched to Allstate. I found Allstate much more competitive in the S. Florida area and had no idea that they covered PWC. I currently have covered a 2006 RXT. My coverage limits are bodily & property damage-100/300, UM 100/300, Med payments-5,000 and my total is $127 a year. Next month I am adding a 2003 RXDI (currently with Progressive and paid up for the year) and Allstate in only bumping my premium up $81 with the same coverage limits once the RXDI is added. My friend recently insured his 2007 GTI - coverage limits bodily & property damage-100/300, UM 100/300, Med payments-5,000, Comp/collision -$1,000.00 ded w/payout of $7,500.00 and is paying $198 a year.
    I also have Allstate in MD. RXP X RXT X and a double Karavan trailer is $369.00 a year. The most competative I could find by far...

    Ed

  10. #10
    I have progressive on 4 ski's but my big boat on Boat US the biotch is Boat us wanted 4 different billing for each ski Give me a break tree killers
    I sent Allstate all the progressive sheets and all my driver info etc I even talked to a rep .. He said it didn't look to High?? , but I asked for a quote anyway , The ass never sent squat so it was a huge waste of my time

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