Boat Insurance
- Thread starter bw56
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Ryan
Keeper of San Juan Secrets
Careful with Markel. We had a total loss claim on a houseboat that was insured with them. Their claim process was nothing short of terrible. I'd gladly pay significantly more in premium to be with someone else.
My boats are with Progressive. I have not yet had a claim, but their rates are competitive.
My boats are with Progressive. I have not yet had a claim, but their rates are competitive.
Ryan
Keeper of San Juan Secrets
I was concerned about that as well. But I believe that line of thinking is more about what happened in the past than of current events.
https://www.snopes.com/politics/business/peterlewis.asp
To each their own. But I’d stay far away from Markel.
Lake Bum
Escalante-Class Member
Progressive denied a VALID claim of mine 2 years ago. I struck a submerged log, and it caused my transom to start leaking. I have never filed a boat claim EVER, and they denied it. The entire process was absolutely unprofessional by them, and I will never EVER use Progressive for anything. They are the cheapest for the reason, because they don't pay CLAIMS! I can't say enough bad bad things about that company
Squirrel
Keeper of San Juan Secrets
My boat hit a submered log years and years ago. Progressive paid almost 5K for the damage, including the gimble housing, which they bitched about, but finally paid for the whole bill. That suprised me, I didn't think the boat was worth that. A 1990 Bayliner, 1950. This was about 18 years ago. Sq
Ryan
Keeper of San Juan Secrets
That’s quite the trick, considering he died back in 2013.
sphoppie
Active Member
BW56, I am an independent agent and lake Powell junkie. Feel free to shoot me an email I would be happy to point a fellow boater in the right direction. [email protected]
I have three Boat US insurance policies. They tried to pull a quick one on me this year on my large cruiser policy. I received a renewal letter 'congratulating' me for having no claims and stating that my premium was not increasing. Then I reviewed the actual policy terms - it's an "Agreed Value" policy, and they had lowered the "Agreed Value" by 25% without saying anything to me. So the premium stayed the same, but the amount they would pay out on a total loss decreased by 25%! That is clearly an increase in my premium as I'm paying the same dollar for less coverage.
I called them on the tactic and they didn't seem to care much - disappointing. So I started looking around for other options to move to from Boat US - spent many hours and received several quotes, but none made moving away enticing enough to actually pull the trigger. I have personally had good claims experience with Boat US in the past (a lightning claim pre-Geico days) and that is where their reputation shines, so I ended up staying put, but my opinion of them definitely decreased and I hope their new Geico ownership doesn't impact their reputation of treating claims fairly.
p.s. - for years when at the lake I hear radio commercials for Warner-Gleave insurance in Page. As part of my research of alternatives I called them to get a quote. I got the runaround from three people there for two weeks. I talked to one person in detail about quoting my policies and was promised a call back several times - they never called. I called them back after one week and was told the quote was forthcoming. I called them back the next week and was told I would have a quote the following day as they were just putting it together that day. I never heard a word from them. It's a private business so if they don't want my business that's OK, but I don't understand why they spend so much money advertising on the Page radio station if they don't even want to quote new business!
I called them on the tactic and they didn't seem to care much - disappointing. So I started looking around for other options to move to from Boat US - spent many hours and received several quotes, but none made moving away enticing enough to actually pull the trigger. I have personally had good claims experience with Boat US in the past (a lightning claim pre-Geico days) and that is where their reputation shines, so I ended up staying put, but my opinion of them definitely decreased and I hope their new Geico ownership doesn't impact their reputation of treating claims fairly.
p.s. - for years when at the lake I hear radio commercials for Warner-Gleave insurance in Page. As part of my research of alternatives I called them to get a quote. I got the runaround from three people there for two weeks. I talked to one person in detail about quoting my policies and was promised a call back several times - they never called. I called them back after one week and was told the quote was forthcoming. I called them back the next week and was told I would have a quote the following day as they were just putting it together that day. I never heard a word from them. It's a private business so if they don't want my business that's OK, but I don't understand why they spend so much money advertising on the Page radio station if they don't even want to quote new business!
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I have State Farm for my boat. It has been the same $$ (Don't remember exact but around $300 per year) for 16 years with one claim for a break in. I also have Progressive for my Jet skies and no claims and no issues. I hope this helps. ps. I don't have State Farm for my other policies so not bundle discount.
davew
Well-Known Member
When you are looking at Insurance, there are some generality's that you need to consider when deciding on where to spend your money.
Yes I am a agent, and have been for 20+ years, and I have seen a lot ---
1. Current pricing trend for boat insurance is on the increase. The industry as a whole had a bad year last year( 2 hurricanes, lots of hail...) If we look at the pricing for boats, it is growing much faster than pricing for autos or homes. Just go price a new Ranger bass Boat, or any new wake boat. -- So losses are up, payout costs are up, labor cost the carriers pay is up ( wages are up, health insurance costs are up....) so it is easy to see that the overall rates insurance companies are charging are up.
2. Generally rates for agreed cost coverage is more expensive than ACV -- why, because people believe their boats / autos.... are worth more than the market place says they are -- in some cases they are, but most the time they are not.
3. It is really important to read, and understand the policy that you have. Pricing is one thing but coverage is where your insurance matters. The best example I can give revolves around the requirements that Aramark and the NPS require if you have a boat either in their yard, slip, or mooring -- you sign the form with them informing that you are ok in giving up some rights--- Your insurance carrier might not agree with that, and if push comes to shove, you might be left holding the bag.
4. Understand where you are buying your insurance. If you are buying on line, or with a 1-800 number, it will be harder to get assistance with claim questions, or unique coverage issues. If it is all about the $$, great.
My advise for what it is worth --
1. Decide who you want to work with -- online, 1-800, or agent. --
2. If agent, find one you can sit down with, or talk with at length, to discuss what you think you need as well as what they suggest. It might take calling multiple to find one you like / trust.
3. If agent, ask questions about experience, companies they represent, what to do about claim issues.....
Good luck --- see you at the lake!
Yes I am a agent, and have been for 20+ years, and I have seen a lot ---
1. Current pricing trend for boat insurance is on the increase. The industry as a whole had a bad year last year( 2 hurricanes, lots of hail...) If we look at the pricing for boats, it is growing much faster than pricing for autos or homes. Just go price a new Ranger bass Boat, or any new wake boat. -- So losses are up, payout costs are up, labor cost the carriers pay is up ( wages are up, health insurance costs are up....) so it is easy to see that the overall rates insurance companies are charging are up.
2. Generally rates for agreed cost coverage is more expensive than ACV -- why, because people believe their boats / autos.... are worth more than the market place says they are -- in some cases they are, but most the time they are not.
3. It is really important to read, and understand the policy that you have. Pricing is one thing but coverage is where your insurance matters. The best example I can give revolves around the requirements that Aramark and the NPS require if you have a boat either in their yard, slip, or mooring -- you sign the form with them informing that you are ok in giving up some rights--- Your insurance carrier might not agree with that, and if push comes to shove, you might be left holding the bag.
4. Understand where you are buying your insurance. If you are buying on line, or with a 1-800 number, it will be harder to get assistance with claim questions, or unique coverage issues. If it is all about the $$, great.
My advise for what it is worth --
1. Decide who you want to work with -- online, 1-800, or agent. --
2. If agent, find one you can sit down with, or talk with at length, to discuss what you think you need as well as what they suggest. It might take calling multiple to find one you like / trust.
3. If agent, ask questions about experience, companies they represent, what to do about claim issues.....
Good luck --- see you at the lake!
Does not matter! The money still flows through the company to the foundation he set up to fund his leftist causes! As long as Progressive is in business, he will continue to fund the same treason through the foundation that holds the majority of the company.
Ryan
Keeper of San Juan Secrets
Can you provide some sort of proof source to your claim about the "foundation that holds the majority of the company"? Because the only thing I can find is that it is a publicly traded company. Which likely means it is owned by average everyday investors (like me) through stock and 401k investments.
And what about documentation of the money flowing to causes? Quick net search shows that Progressive Insurance contributes to "the Progressive Insurance Foundation". And that foundation - from their website.
- Matching funds to eligible 501(c)(3) charitable organizations to which Progressive employees contribute — no other contributions are made by The Progressive Corporation, its subsidiaries or The Progressive Insurance Foundation.
From your posts here, it is very obvious that you see conspiracies regularly. But I have never seen you do anything other than make outrageous, inflamitary statements.
Now is your chance. Give us some credible proof sources that support your stance that Progressive has recently supported left-wing causes.
Dave I.
Escalante-Class Member
We have our boat insured thru Farmers Insurance (bundled with everything else) and it's less than $100 a year. Actually closer to $75. But it's also not a newer boat or a cabin cruiser. It's a 28' Pontoon with a 88 hp Johnson. Going to switch to a 4 stroke soon, but don't think that will affect it at all. Also never had a claim but when you just cruise instead of fly around, less is likely to happen. 
ahmen
Squirrel
Keeper of San Juan Secrets
I sat down with my agent yesterday when renewing two policies on my 2 boats. learned alot from this thread & my agent. I am changing to actual cash value vs what the blue book value says it's worth. The main factor is documentation for ALL of your accessories & electronics. And take pictures of everything. A trolling motor is NOT an accessory, it is part of the boat value. (which didn't make sense to me). Sq
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