Common Questions - Insurance check...

Insurance check...

Printed From: CorrectCraftFan.com
Category: General Correct Craft Discussion
Forum Name: Common Questions
Forum Discription: Visit here first for common questions regarding your Correct Craft
URL: http://www.CorrectCraftFan.com/forum/forum_posts.asp?TID=49153
Printed Date: May-09-2024 at 6:49pm

Topic: Insurance check...

Posted By: ultrarunner
Subject: Insurance check...
Date Posted: August-29-2020 at 11:31am

Just doing a check:

‘96 SN GT-40. Boat is stock with exception of Stargazer PP.

Agreed value boat 12k

Agreed value trailer 1.5k

Towing, road side, etc. $500 ded.

$384.00 annually.

In reviewing, Isee I have no personal effects coverage. So approx 4K needed there when you factor in skis, barefoot boom, sky-high pole, custom cover and misc. “stuff”.

My thoughts are I’m likely at a good number for the boat, way low on the trailer by half, and need to add for gear.

Thoughts?

Thanks.

Replies:

Posted By: Jonny Quest
Date Posted: August-29-2020 at 3:07pm

Reasonable rates and coverage to my view.,,but that is without knowing what your policy limits are...

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Current
2003 Ski Nautique 206 Limited

Previous
2001 Ski Nautique Open Bow
1994 Ski Nautique Open Bow

Aqua skiing, ergo sum

Posted By: TRBenj
Date Posted: August-29-2020 at 5:30pm

Liability limits will far and away the most costly piece of the premium. Without knowing your limits, it’s impossible to say if your cost is moderately high vs extremely high. I carry pretty high limits with similar replacement value and pay considerably less fwiw.

Posted By: ultrarunner
Date Posted: August-29-2020 at 5:44pm

Yep, excellent points:

$100,000 boating (body/property)
$100,000 uninsured boater
$900,000 environmental

Likely low on the first two. As litigious as we are, likely low on the first two;-)

Posted By: TRBenj
Date Posted: August-29-2020 at 6:42pm

Yeah a bit low imho. Premium looks quite high.

Posted By: ultrarunner
Date Posted: August-29-2020 at 7:54pm

Thanks Tim.

Posted By: 93/70 ccpb
Date Posted: August-30-2020 at 8:52am

ski safe around 275 for a 93

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what you dont want to hear from jbear and bill.you cant get in the boat till you get your minute,and they throw you back in water!

Posted By: frozenskier
Date Posted: September-02-2020 at 9:42am

Sounds high. I have an 09 SN 196. $30K boat $2K trailer, $500,000 Liability and Uninsured Boaters Liability. $500 deductible for $311/yr. If you have a Homeowners or renters policy a lot of your Personal Property will have coverage when in the boat or anywhere else you take them. Subject to whatever limitations/exclusions on the policy. Call your Ins Co & find out. You may not need to have the $4K covered on the boat policy, possibly only things like the Sky-lon & boom, etc.

Posted By: AAM196
Date Posted: September-02-2020 at 7:04pm

Call Boat US... I pay $168 per year.

Valued at $17,300 boat and trailer

300k liability

300k uninsured boater

950k spills/enviro

lot of other boater perks (more for larger vessels) with Boat US... cover towing up to $250 per occurrence.. more can be purchased for cheap.

Make sure you tell them you took a boater safety coarse (boat us has an online course), if you have Geico auto etc.

If you need/want more liability, look for an Umbrella policy. For $250-$300 a year, you can have a $1M additional liability over everything (homes, cars, boats, motorcycles, etc)... even drop the liability on auto to supplement the cost of this. For me it was $270... but trimming the liability on auto to $100k... I saved $150 a year on auto....so it really cost me $120 for the extra coverage...

Ok... I sound like my dad talking...