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Thread: Boat Insurance?

  1. #1
    VIP Member VIP Member BruceK's Avatar
    My Boats:
    40 Fountain Lightning
    Join Date
    Jun 2001

    Boat Insurance?

    Received this years bill in the mail, what is it with Boat insurance, I have had a boat insured for more then 15 years and all it does is go up. So, I think there was an earlier post about insurance but have had no luck locating it. Anyway, anyone have some good insurance companies that they would like to share?
    Please let me know. Thanks, Bruce

  2. #2
    Bruce if you have a actual cash value policy (acv) and you do not tell the insurance agent to decrease the coverage every year as the boat depreciates the premium will increase as the age of the hull increases.

    If you have a stated value policy the reason is somewhat the same and in addition to that the premium is increasing because the boat is getting older.

    I cant fully explain the reasoning but it stems back to older boats that would sufer from water infestation in stringers and transoms.

    I have been out of the insurance business since 99 so all of you INS guys out there take it easy on me if i am offbase.

  3. #3
    VIP Member VIP Member BruceK's Avatar
    My Boats:
    40 Fountain Lightning
    Join Date
    Jun 2001
    Sorry Shane, its not the same boat for 15 years, it just that over the past 15 years it just seems to go up drastically the 2nd year of coverage with any of the boats I have owned. I actually did find the original posts on insurance and have made some calls and hopefully I will do better somewhere else. I appreciate the feedback though. Always willing to learn something new.
    Thanks again

  4. #4
    No problem good luck.

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