Boat insurance

[kettcb]

Does anybody reading this forum know where to get the best deal on boat insurance? I'm getting a new Cobalt boat and it seems like prices are all over the map.

[jhnmdahl]

I haven't found a huge variance in prices as long as I'm comparing similar coverage (which can vary quite a bit). Some insure actual cash value, which may be well less than a depreciated boat is worth to you or costs to replace. Another option is agreed value, where you and the insurance company agree that the boat is worth some set amount, and when it sinks or is destroyed, etc., that's what you're paid. The third common type is replacement or purchase price coverage, where a boat is replaced with substantially the same thing new, or payment for the purchase price is paid to the boat owner.

I've seen people shop around and recommend State Farm, Allstate, MetLife, Geico, etc., and it may vary from region to region or even with different options on the same boat (increasing the horsepower will often increase the insurance rate).

[kettcb]

I should get more quotes and make sure they all cover the same thing. Thanks.