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boat insurance??

Discussion in 'The Lounge' started by peon, Jul 23, 2005.

  1. peon

    peon account delete

    im looking to get a boat... do you have to have insurance on a boat????
  2. misfit

    misfit MOD SQUAD

    no.but if i had much invested in one,i would.

  3. jeffmo

    jeffmo officially unofficial!!!!

    legally i'm not sure if it's a requirement but it's in your best interest to have it,just like your car.not only will it protect your investment but in this sue happy world we live in it'll protect you also.
  4. peon

    peon account delete

    what if you have a loan on it at a bank??? is that something you have to have then???
  5. I strongly suggest checking with your insurance agent. And then getting liability coverage, you are only talking about $75/year +/-.

    If you hit another boat, or have an injury to a passenger etc you could lose everything you own.

    Your home owners specifically excludes boating coverage. You are wide open personally for a claim. If there is alcohol involved they will throw away the key.

  6. mrfishohio

    mrfishohio Recovering Fishaholic

    I had great insurance thru State Farm. $9.53/ month I have all my stuff with them, so they are pretty good at all of them ( 2 trucks, 3-4 kids are on my policy to save them a bunch, and homeowners) I had full coverage up to 6 or $7K on my last boat. They break it down so much for the motor, the boat, the trailer, and equiptment. With 5 Shimano calcutta 700 reels on St croix rods and GPS fish locator you want to be sure to have enough coverage.
    They replaced my lower unit on my Skeeter for $1,400 with only a $100 deductable.
    You had better have it. If you hit someone else and hurt or sink their boat, it's going to be big bucks just like a car accident.
  7. I recently purchased a new boat and was told that you have to carry insurance if you finance it. I was also told that if you did not get the coverage yourself the bank will get it for you at a much higher rate.