Boat Insurance

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We use USAA-Progressive (USAA is a veteran online service provider that does a bunch of stuff) but Progressive underwrites and administers it.
  • 2015 Regal 1900ES Premier - $27K value - Progressive full coverage with comp/collision, etc. $225/yr. (paid up front)
  • 2016 Stingray 225LR - $65K value - Progressive full coverage with comp/collision, etc. $375/yr. (paid up front)
  • 2015 T@G Teardrop Camper - $15K value - Progressive full coverage with comp/collision, etc. $155/yr. (paid up front)
Have never needed to make a claim on the boats or camper, but I've used Progressive in the past for my motorcycles and had good service, always paid claims, etc.

They also have apps on the iPhone that make taking pictures of damage, and submitting claims online really easy. This is valuable if you don't have an agent nearby.

I once had a wreck on my bike, took pics, submitted, and got a check in the mail 6 days later for $2200.

By the way, the Regal 1900ES is for sale (bow-rider). It's NADA with trailer and options is about $32K.
I'll sell it to anyone on here for $25,500, and even deliver it to Lake Powell for you.
It's near "perfect", with 49 hours, 220HP Merc and Alpha drive, bimini, canvas covers, trailer, all the stuff, etc. and just had a $855 service that included oil, filters, fuel separator, outdrive oil, cooling impeller, and a new shifter cable bellows (punctured by one of those damn muscles). So it's good to go for another season or two.
It'll do about 48mph WOT, and I'll include a second brand new Mercury prop 14x17' for more torque if you plan to pull skiers or load it up with a bunch of people or gear.
If interested, send a private message and I'll direct you to the online ads in KSL and Boat Trader with all the details and photos, etc.
 
CHRIS MCBETH said:
We use USAA-Progressive (USAA is a veteran online service provider that does a bunch of stuff) but Progressive underwrites and administers it...
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Lifetime USAA here and it has been the best insurance I could ever imagine with certain qualifiers. It has over the years declined slightly in quality due to an expanded actuarial base but it still is without peer in it's core business.
  • Before 1997 USAA membership was available only to commissioned officers - active or retired. This is a very low risk group.
  • In 1997 noncommissioned officers became eligible for USAA membership. Actuarially this is a higher risk group and should have shown a noticeable rise in pricing. I did sense a bifurcation of their pricing to protect the existing customer base from large price changes brought on by easing of the membership requirements. Still the best.
  • In 2009 anyone who served honorably in the military became eligible for USAA membership. Again the risk tables changed but I still think they split the groups into comparable risk groups because I have spoken to some who have gotten better prices from other carriers. As for me, no other carrier has come close to the coverage and service all with the lowest price. Win, win.
As Chris said the recreational vehicle insurance is passed off to Progressive in partnership with USAA. A discount is offered but it is really Progressive and not USAA. This is not all bad. If there are big moans and groans with Progressive it is nice to have a high horsepower company (USAA) on your side.

One benefit of USAA insurance is a dividend that is voted on and paid each year. This is basically a refund of a portion of your insurance premiums. For me in 2017 USAA paid me back $863. It varies from year to year but I don't remember a year that hasn't paid something back. :D

Goblin
 
CHRIS MCBETH said:
NCO’s are a higher risk group?

Hey! I resemble that remark!

Sgt McBeth
Delta Company, 6th Engineer Support Battalion

;)
Click to expand...
From an Air Force perspective only I actually think the lower risk in the officer corps at the time was partly due to the ease with which a career could be destroyed. It resulted in a certain amount of tiptoeing around everything or in the words of the great orator Elmer Fudd you had to be "Bewy Bewy Quiet..."

The big change occurred in 2009 when it basically became "Have you ever been in the military or know of someone that was?" Now that risk group is very close to the general public at large. And not to mean the "at large" as in the police are pursuing you...or are they?:confused:
Goblin
 
bw56 said:
I have a 24 foot Yamaha Jet boat. Insurance premium from Boat US (now GIECO) went from $360.00 to over $700.00. for a one year policy. No claims or accidents. Now with Markel at less than last years Boat US premium.
Must have been a lot of losses last year.
Click to expand...

BW56, how do you like that boat?

I have a friend who wants a boat. He's married with two daughters (1 young, one early teen), and he's into water sports (mostly Wake-boarding) and fishing.

They're thinking of a 24' Yamaha... but I cautioned him to at least look around before buying (they were at the Salt Lake City Boat show and got "caught up" in the moment).

My view on them is this, and you can tell me if I'm wrong:

  • Yamaha overall makes a good product, but it does have it's quirks
  • The Jet boat is a different platform than prop/outdrive/etc. so it takes some getting used to
  • They are great for what they're designed to do (water sports), but there are some things you should know going in like:
    • low-speed steering
    • reverses slow
    • shoots spray in the faces of the kids if you're towing a tube
    • etc.
  • Are there any maintenance issues having two engines, etc? E.g. cost to winterize being double, etc.?
  • Costs of insurance?
  • Any words of warning or praise you'd like me to pass on?
 
Goblin said:
From an Air Force perspective only I actually think the lower risk in the officer corps at the time was partly due to the ease with which a career could be destroyed. It resulted in a certain amount of tiptoeing around everything or in the words of the great orator Elmer Fudd you had to be "Bewy Bewy Quiet..."

The big change occurred in 2009 when it basically became "Have you ever been in the military or know of someone that was?" Now that risk group is very close to the general public at large. And not to mean the "at large" as in the police are pursuing you...or are they?:confused:
Goblin
Click to expand...

Nobody's chasing me. That I'm aware of... LOL
 
Goblin said:
From an Air Force perspective only I actually think the lower risk in the officer corps at the time was partly due to the ease with which a career could be destroyed. It resulted in a certain amount of tiptoeing around everything or in the words of the great orator Elmer Fudd you had to be "Bewy Bewy Quiet..."

The big change occurred in 2009 when it basically became "Have you ever been in the military or know of someone that was?" Now that risk group is very close to the general public at large. And not to mean the "at large" as in the police are pursuing you...or are they?:confused:
Goblin
Click to expand...

Goblin, is that an F4-Phantom I see reflected in your visor?
 
Yes it's an F-4 but that's not my visor. That is a Blue Angel slot pilot in close trail. It's a screen capture from an old F-4 move titled Threshold; The Blue Angels Experience which is a 93 minute documentary of the Blue Angels 1970/71 season narrated by Leslie Nielson. Great flick.
I did start in fighters by flying both the F-4D (hardwing) and the F-4E (softwing) back in the day but the only way we had of taking a picture like that was out of a boomer's window while refueling.

Goblin
 
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Chris, let me see if I can answer your questions about the Yamaha 242.

I have had one for 8 years. I also got caught up in the boat show excitement. Overall it is well made but you have hit on a couple of things.
It can spray water when towing. I added about 10 feet to my tow tube and the problem was solved.
Low speed steering is not an issue once you get used to it. They have fins you can add but I have never really had a problem.
I don't reverse much but if you get on the throttle it will move.
I tow kids from church in Mission Bay(San Diego) and on the Colorado River. I have to tell you the no exposed props is almost priceless.
The back is the fishing deck for my wife. It has caught yellowtail at La Jolla and lots bass at Powell.
The biggest downside to me was the noise. I understand that has been solved in the newer Yamahas.
Then the price differential vs a comparable Sea Ray or other comparable boat.
I have replaced cables for steering and shifting. Salt water issue mostly.
No other mechanical problems. The engines start every time and purr like kittens.
The boat is fairly light to tow as well.
If you want to talk in person, let me know and I will send you my phone number.
I would buy another. Not perfect for fishing for water sports but pretty darn good.
 
A good boat sells for double the book value. The book seems to be for high hour Florida salt water boats.
My Policy with Farmers for a 2004 Sea Ray 270 Sundeck is $244 a year.
 
BW56, the other thing I was told is if you're towing a heavy skier or wake-boarder, the Yamaha's don't have an out-drive sticking down into the water to keep the back of the boat from slipping sideways when the skier/boarder goes way out to the side while pulling on the rope.

Have you experienced that?

And thanks for the info before.


bw56 said:
Chris, let me see if I can answer your questions about the Yamaha 242.

I have had one for 8 years. I also got caught up in the boat show excitement. Overall it is well made but you have hit on a couple of things.
It can spray water when towing. I added about 10 feet to my tow tube and the problem was solved.
Low speed steering is not an issue once you get used to it. They have fins you can add but I have never really had a problem.
I don't reverse much but if you get on the throttle it will move.
I tow kids from church in Mission Bay(San Diego) and on the Colorado River. I have to tell you the no exposed props is almost priceless.
The back is the fishing deck for my wife. It has caught yellowtail at La Jolla and lots bass at Powell.
The biggest downside to me was the noise. I understand that has been solved in the newer Yamahas.
Then the price differential vs a comparable Sea Ray or other comparable boat.
I have replaced cables for steering and shifting. Salt water issue mostly.
No other mechanical problems. The engines start every time and purr like kittens.
The boat is fairly light to tow as well.
If you want to talk in person, let me know and I will send you my phone number.
I would buy another. Not perfect for fishing for water sports but pretty darn good.
Click to expand...
 
CHRIS MCBETH said:
BW56, the other thing I was told is if you're towing a heavy skier or wake-boarder, the Yamaha's don't have an out-drive sticking down into the water to keep the back of the boat from slipping sideways when the skier/boarder goes way out to the side while pulling on the rope.

Have you experienced that?

And thanks for the info before.
Click to expand...
I used to "attempt" to slalom ski behind my Waverunner. It had the power, but if I would cut hard, it would slide the azz end of the waverunner about 3 feet towards me, and usually cause a crash. Crashing hurt my ego in those days, I was a perfectionist with skiing! Today, I'm just happy I can hang on tight enough to pull my beer gut up :cool:
 
The biggest complaints I hear about the new jet boats is noise and fuel consumption.

The towboat forums are littered with people who started with a jet, and quickly moved over to a V-Drive.

If you REALLY want to do water sports, it is impossible to beat a V-drive.

Bringing it back to insurance, my 2007 Lund is $95/year. My 2014 Malibu is $620. I have $300k CSL, and $0 deductible.

The policy on my Malibu is actual replacement cost for the first five years, then it goes to my agreed value. The full cash replacement for the first five years is the reason I would have a VERY hard time going away from Progressive on a brand new boat.
 
Ryan's post gets back to the " talk to your agent" point.
To use Progressive as a example --- they have many "specialty coverages" available for purchase --- things like --- new boat replacement ( total loss-- they pay for new) -- agreed value ( total loss you get agreed price) -- sign and glide ( on water towing with no out of pocket cost) -- roadside ( on land towing if your tow vehicle breaks down while towing ) trip interruption ( pays for lodging if breakdown) personal effects coverage ( what happened to the $1000 pair of binoculars?) the list goes on and on --- what coverage do you need or want? That is up to each of us -- the question is --- did you know it was available-- if not, talk to your agent
 
I think you are much better off buying from an agent than direct. You might save a little in premium by buying online but could also be left without coverage you thought you had or wanted in the event of a loss.
 
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