View Poll Results: What do you pay for insurance ?
$500 to $1000
200
35.52%
$1000 to $1500
100
17.76%
$1500 to $2000
75
13.32%
$2000 to $2500
55
9.77%
$3000 to $4000
60
10.66%
$4000 and over
73
12.97%
Voters: 563. You may not vote on this poll
What Do You Pay For your boat Insurance ?
#42
I have an Umbrella Policy as well. I did a thread on this in Gen Disc. a while back with full details on how this works.
I also have a friend with several boats, that does not carry individual boat insurance, but does have an overall very high Umbrella Policy. Some have chosen to go this route, and that is why you see these huge rewards for stolen boats, as they did not have insurance for theft.
I also have a friend with several boats, that does not carry individual boat insurance, but does have an overall very high Umbrella Policy. Some have chosen to go this route, and that is why you see these huge rewards for stolen boats, as they did not have insurance for theft.
Last edited by Sydwayz; 05-12-2004 at 10:52 PM.
#43
Originally posted by PhantomChaos
Nope......this is a 2004 Skater, 1400 Paul Pffaf Engines. What else can you do at that point than pay the insurance?
Nope......this is a 2004 Skater, 1400 Paul Pffaf Engines. What else can you do at that point than pay the insurance?
#44
Something doesn't add up Brian.
The umbrella (covers more than one product such as homeowners, cars and boats) or excess policy (covers one product) picks up where the primary policy leaves off. Generally, primary policies need to be at 250/500 or 500csl. At that point umbrella policies are written to extend coverage to 1 million or beyond.
Do the people you know self insuring their boats to a certain limit? Thats crazy! Who wants to fork over $500,000K before your insurance company steps up to bat?
The umbrella (covers more than one product such as homeowners, cars and boats) or excess policy (covers one product) picks up where the primary policy leaves off. Generally, primary policies need to be at 250/500 or 500csl. At that point umbrella policies are written to extend coverage to 1 million or beyond.
Do the people you know self insuring their boats to a certain limit? Thats crazy! Who wants to fork over $500,000K before your insurance company steps up to bat?
#46
I don't completely understand how it is done either Chris.
My Umbrella kicks in whenever I exhaust the maximums of liability of another policy. Now, all my insurance is also under State Farm, including the boat.
Just thinking for a second... having several boats and toys, and a business; it probably is easier and cheaper to self insure for things less than the Umbrella, as long as you have it written that way. Taking individual (liability) policies on every piece would probably me more expensive yearly, or compunding several years, as opposed to just being prepared to fork out an amount necessary to kick in ones' Umbrella Policy. As far as theft, like I mentioned; some folks get hosed; and it makes me sick to think about it.
My Umbrella kicks in whenever I exhaust the maximums of liability of another policy. Now, all my insurance is also under State Farm, including the boat.
Just thinking for a second... having several boats and toys, and a business; it probably is easier and cheaper to self insure for things less than the Umbrella, as long as you have it written that way. Taking individual (liability) policies on every piece would probably me more expensive yearly, or compunding several years, as opposed to just being prepared to fork out an amount necessary to kick in ones' Umbrella Policy. As far as theft, like I mentioned; some folks get hosed; and it makes me sick to think about it.
#48
Originally posted by Russ
02 252 Baja islander 415 HP (what i told them) 500 hp (what it really has), speed told them 62 mph.
Texas
Start Farm they go thru Formost. $874/yr $500 deductible.
02 252 Baja islander 415 HP (what i told them) 500 hp (what it really has), speed told them 62 mph.
Texas
Start Farm they go thru Formost. $874/yr $500 deductible.
2003 33 Outlaw w/ 496 HO's State Farm $1050 per year $1000 dec.
#49
Originally posted by Highmark
Why lie just to save a little. They have the right to refuse coverage if your in an accident and they find out you have a larger engine than you told them. They also may only replace what you have listed and not what you actually have. To me me that's not worth the risk.
2003 33 Outlaw w/ 496 HO's State Farm $1050 per year $1000 dec.
Why lie just to save a little. They have the right to refuse coverage if your in an accident and they find out you have a larger engine than you told them. They also may only replace what you have listed and not what you actually have. To me me that's not worth the risk.
2003 33 Outlaw w/ 496 HO's State Farm $1050 per year $1000 dec.