Boat\Marine-Insurance.

W

walleyeman

Well-Known Member
Hey Guys- A good friend of mine at work just recently purchased a Lund 19ft. Tyee at the T.O. Boat Show and is now looking\ shopping \ around for insurance on the package! What should he be looking for- from who and the likes of it all? Suggestions? Thanks Walleyeman!
 
Yeah! Another boat expense. Personally I'm insured with "Premier Marine" through a broker. I've got a 2008 19.5 Tyee and cost is about $400 before tax and brokerage fees. The cost never goes down with boat insurance and only changes when you buy a new one. I've been insured for a lot of years with a bunch of different insurers and that's how it has always worked. Good luck! Expect a higher insurance premiums because boat prices have increased. I have no idea what happens if you have a claim...hope I never find out.
 
I have my Lund and my other boat insured with Premier Marine Insurance thru BayFront Insurance Port Rowan 519 586 2762 ask for Lois. It is part of Brokerlink.
I have had all my insurance house car etc there for many years.

Never had a boat claim yet! Touch wood or WATER ?;)
 
I have my Lund insured with Premier Marine through a broker too. $330 tx in. Also never made a claim (y)
 
Thanks Guys- Should you really keep your boat-insurance separate from your home\auto insurance? Wise choice or not? I have heard and read to different scenerios! Your thoughts please!
 
Some home/auto companies offer marine insurance for double the price (on average) & half the coverage.
 
When I had a 20'Lund Alaskan I insured through Premier and Northbridge.Both had liability,contents,salvage and replacement.When we got a quote from our home insurance they only covered loss of contents(only if stolen).We found that home coverage was the cheapest but gave very little coverage.As for vehicle insurance you are covered only when the boat and or trailer is connected to the towing vehicle.My advice is to get marine insurance specifically for liability.That's my two cents.
 
It's my understanding that boat ins is for when the boat is in the water. Hook it behind a car or truck and your auto insurance covers it in the event of an
occurance.
 
GPS said:
It's my understanding that boat ins is for when the boat is in the water. Hook it behind a car or truck and your auto insurance covers it in the event of an
occurance.
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I thought that was the case too but I asked my broker about it last fall and was told the trailer is covered with the vehicle but not the boat, it may not be the same for all policies but I would suspect it is.
 
I've been wondering insurance also since my purchase of a 2012 18ft legend xcalibure with a 90 hp Merc. All my answer right here thanks.
 
My understanding that Marine insurance thru Premier Marine Insurance covers the trailers. They are listed on the policy plus are included in the total $ value.
 
The other thing that I do is make sure the insurance broker gets a photocopy of the receipts for any new additions/updates on the boats. That way there is no argument if I would have to put in a claim.
ie new tops , new electronics. (new first mate just kidding happily married but have to clean my own fish :))
 
keeper said:
My understanding that Marine insurance thru Premier Marine Insurance covers the trailers. They are listed on the policy plus are included in the total $ value.
Click to expand...

Yes the boat policy does list and cover the trailer as well for various perils but here's what was explained to me by my Aviva broker... If your truck, trailer, & boat are in an auto collision on the highway, the tow vehicle's policy will cover the tow vehicle and trailer but not the cargo on the trailer (i.e. the boat). So either way the trailer is covered but without the marine policy, you're SOL on the boat if you wreck on the road.
 
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Read your specific policy as some insurers no longer have trailer coverage included in the auto policy meaning your auto insurance will not cover the trailer/contents in the event of a collision. If you don't have a specific policy for the trailer and it's contents you'll need to use your homeowners insurance for coverage.

I assumed the trailer and contents were covered by the towing vehicles policy, until I was in an accident and found out the hard way that it is not.
 
w said:
Hey Guys- A good friend of mine at work just recently purchased a Lund 19ft. Tyee at the T.O. Boat Show and is now looking\ shopping \ around for insurance on the package! What should he be looking for- from who and the likes of it all? Suggestions? Thanks Walleyeman!
Click to expand...
Northstar, they are out of Barrie . Great price !! And it is All theyDo . One of the best features is that they will replace your boat with a new one if you have a total loss in the first five years
 
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