New Boat Insurance Recommendation

[gstubbers]

Hi all,
I'm in the process of getting insurance for my new 2023 R6 OB. I have two very competitive quotes. One from Progressive the other from Global Marine. Before I pull the trigger, does anyone have any thoughts? Both coverages appear to be similar on the surface.
Thanks in advance for any suggestions.

[billk2632]

I have been with Progressively for 6-7yrs, a SeaRay and now my R5. I would say I am happy, no big rate increases, but no claims either. You don’t really know how good your insurance is until you have a claim. Whatever you choose, I would be sure to get a declared value policy vs an actual cash value policy.

[mdadgar]

I am currently using SkiSafe (no claims) but I just got a quote from Hagerty and it was about 15% lower. Hagerty has a VERY good reputation in the collector car space, so I am considering changing and saving ~$100/yr.

https://www.hagerty.com/insurance/boat-insurance/

[bruceb58]

Get a quote from BoatUS.

[kep5niner]

Been with these guys for 6+ years. Found them on the forums years ago.

https://www.charterlakes.com/

I’ve had USAA (Progressive) and BoatUS. They couldn’t compete. Never had a claim, so who knows about the other side of the transaction, but again, very positive reviews from years ago. They insured my Bayliner 315, and now my 302.

[bruceb58]

Sent Charterlakes a request for quote...will see what they say

[Krob1114]

Get a quote from BoatUS.

+1
Mine goes through GEICO.

[Krob1114]

Been with these guys for 6+ years. Found them on the forums years ago.

https://www.charterlakes.com/

I’ve had USAA (Progressive) and BoatUS. They couldn’t compete. Never had a claim, so who knows about the other side of the transaction, but again, very positive reviews from years ago. They insured my Bayliner 315, and now my 302.

Wish I'd seen this in May. I'll probably forget by next May.

[gstubbers]

I have been with Progressively for 6-7yrs, a SeaRay and now my R5. I would say I am happy, no big rate increases, but no claims either. You don’t really know how good your insurance is until you have a claim. Whatever you choose, I would be sure to get a declared value policy vs an actual cash value policy.

Great tip. Actual cash value vs agreed/declared value. I'll make sure to have a agree/declared value policy.

[gstubbers]

Thanks for all the great tips. I'll check them out!

[RWM250]

I had Progressive through USAA for 3 yrs. I never had a claim and can't comment on their claims customer service. I purchased my 2004 250 a few years before covid hit and we all know what the value of boats did during that time, they went UP in value. After review of my Progressive policy, I relaized it was an actual cash value policy to pay out for NO MORE than I had purchased the boat for. I typically wouldn't have had an issue with that, but the value had risen substantially during that time and Progressive would not allow me to switch to a declared value higher than my original purchase price. I provided current BoatTrader sales listing of the same model and they still refused.

I change to United Marine insurance. They have a method of looking at the current market values and insured me for a declared value I was wanting. Their rates were very competitive. I still haven't had any claims and can't comment on their claims customer service, but getting to where I am now was a good experience with them.

[kas232ca]

Get a quote from BoatUS.

+1
Mine goes through GEICO.

+2 For Geico /BoatUS
We just had a claim for my son's totaled truck with injuries. He got hit by a stolen car. Geico has been very good to deal with so far. Still dealing with the medical bill portion though, so we will see how it shakes out in a few months.

[Big Block Power]

I'm a State Farm guy. Just like bigblockus is I've had them for 30+years and have always had my back the same day. I don't even check around.

[bruceb58]

Sent Charterlakes a request for quote...will see what they say

Got a quote from Charterakes. They were $4 more and with $1700 deductible vs my $1000 deductible. Also, my current insurance has actual cash value vs fixed hull value at Charterlakes. I will stick with BoatUs/Geico.

[Lifelongbtr]

We’ve had good luck with Markel, got a quote from Hagerty this year and same insurance from Markel with $100 less cost, although I have one car with them. Not sure if the actual underwriting company changes with different size boats.

One thing I learned years ago is most companies offer a “partial year” of use discount. In other words your paying a different rate summer vs winter. It’s still insured in winter just not for use on the water, kind of like car insurance and mileage.