2 Cool Fishing Forum banner

1 - 15 of 15 Posts

·
Registered
Joined
·
900 Posts
Discussion Starter · #1 ·
My boat insurance jumped up $30 this year for renewal. I havn't ever had a claim. Did anyone elses jump this year? I thought progressave rates were supposed to go down if you dont have claims. I'm paying $370 for a $9K boat motor and equipment and trailer. $250 deductable.
 

·
Top Water Red
Joined
·
77 Posts
Progressive rates...

Yeah, mine went up about 20% and no claims either....whats the deal? Time to shop around and compare rates.
 

·
Registered
Joined
·
469 Posts
Mine did too. 4 yr customer and always paid in full upfront with no claims.....I have never even talked to them....Bend over here they come.

Whoever insures boats and sees this thread feel free to pm me and we can talk rates!
 

·
Registered
Joined
·
274 Posts
I just purchased insurance on my Boat 2 months ago. I have State Farm and I pay 90.00 a month for full coverage up to 40,000.00 with a 500.00 deductible.

Is this high? Should I shop around and look for a better rate. They do cover everything though, boat, trailer, electronics, fishing poles, gear everything.
 

·
Registered
Joined
·
1,917 Posts
Brad~ I am going to look into why Progressive has had a rate increase and I will get back with you on that matter. What you are paying now is an extrememly good rate for the age of your boat and I doubt you will find cheaper rates for the same coverage's.

Calhoun~ The rate you posted seems extremely high for a boat at that value, give me a call at the office and I would be more than happy to go over what coverage's you need.

Have a great day.

Tristram Dodds
Charter Lakes/ AMI Insurance
(281) 452-7800
 

·
Banned
Joined
·
2,734 Posts
I just purchased insurance on my Boat 2 months ago. I have State Farm and I pay 90.00 a month for full coverage up to 40,000.00 with a 500.00 deductible.

Is this high? Should I shop around and look for a better rate. They do cover everything though, boat, trailer, electronics, fishing poles, gear everything.
Daaaannng ! $90 x 12 months= $1,080 That's almost commercial rates ! You definately need to shop around.Give Charter Lakes a call.
 

·
What about my member?
Joined
·
1,679 Posts
Seriously guys. Your paying 370 a year....30 bucks a month with only a $250 deductible and unhappy with it? Increase your deductible if $30 make that big a difference. It's the cost of owning a boat.

The $1000 premium through State Farm seems a bit steep but the Progressive rates are some of the best in the business.
 

·
Vendor
Joined
·
2,793 Posts
Just thought I would chime in here. Most people feel alienated when they have a rate increase when they've had no prior claims...understandable. A company evaluates their rates as a whole at certain times. If they deem it necessary to have an increase in premium to keep certain profit margins then that may be the step they take. Think back to when you first bought your policy...how was the rate derived? It starts with a rating base for a certain dollar of exposed risk and is then adjusted by certain personal determining factors concerning the proposed insured. It is not completely an individualized risk. Let me just say, I hate paying insurance...I just happen to make a living in the industry. What I do know is I want the company that insures me to stay solvent so in the event I have a claim they can take care of me. The best thing to do in my opinion is to shop every couple of years or at least be with an agency that can do that for you. Have a good realationship with your agent...he/she is there to help. Believe me, the last thing I want is a customer walking out the door...at this time we retain about 91% of our business as a whole. We do this by staying on top of the game and finding the best rate/coverage we can for our clients. Not always an easy task but we do the best we can. If anyone has any questions or needs help just give us a call at the number Brady Bunch posted. You DO NOT have to by from us to get help on your coverage. We are happy to help and insure ALOT of people here on 2Cool.
For the person paying 90.00 monthly on a 40k rig...you need to give us a call for sure.....You are about 30-35 percent too high most likely...unless you have some rough history.
Also, one thing to remember...price should not be the sole determining factor. You need to know what coverage you are getting for your money and who it's with. I have lost a couple of sportfish boat policies that were written by a company with a terrible claim paying history. We have the availability to write thru that company but we don't simply because recovery on a covered loss is not certain.
Ask questions, know your agent, and don't buy until you are comfortable.

I hope this long winded post was at least a little informative :)

Good fishing!

Brice Fuselier
Owner/Agent
AMI Insurance / Charter Lakes Southwest
281-452-7800 office
281-798-9456 cell

Btw, We will at the boat show in booth 537. Stop By!!
 

·
Vendor
Joined
·
2,793 Posts
Hey Scott,
Just wanted to let you know that we partnered with Charter Lakes and my agency is now considered Charter Lakes Southwest concerning any marine insurance. Our number is 281-452-7800 and is listed on the CL website. Just wanted to let everyone know...thanks :)

Brice

Daaaannng ! $90 x 12 months= $1,080 That's almost commercial rates ! You definately need to shop around.Give Charter Lakes a call.
 

·
sea monkey rancher
Joined
·
18,403 Posts
progressive is cheap , but when it comes to claims they can be kinda iffy.......

blown powerhead or lower unit.......they want to pay for a repair, not a new replacement or drop in rebuilt
 

·
Banned
Joined
·
2,734 Posts
Hey Scott,
Just wanted to let you know that we partnered with Charter Lakes and my agency is now considered Charter Lakes Southwest concerning any marine insurance. Our number is 281-452-7800 and is listed on the CL website. Just wanted to let everyone know...thanks :)

Brice
Roger That ! It's good to know that yall ( Charter Lakes ) are down here now :) If I ever need some thing, I'll give ya a shout ! :)
 

·
My rod and reel comfort me. St Pete 8lb
Joined
·
212 Posts
2 months ago I purchased a new boat and I called my insurance agent about cancelling my old boat and adding a new old.

Old Boat cost about $144.00 a year ...$100.00 deductible and the boat cost me around $12000 new when I bought it 15 years ago
Same insurance company(State Farm) ..new boat they wanted $490.00..$250.00 deductible and the boat cost me around $23000 new.
I called USAA which sent me to Progressive with all the discounts and $100.00 deductible it costs me $278.00 for the year.
 

·
Vendor
Joined
·
2,793 Posts
Sounds about right :)

Brice

2 months ago I purchased a new boat and I called my insurance agent about cancelling my old boat and adding a new old.

Old Boat cost about $144.00 a year ...$100.00 deductible and the boat cost me around $12000 new when I bought it 15 years ago
Same insurance company(State Farm) ..new boat they wanted $490.00..$250.00 deductible and the boat cost me around $23000 new.
I called USAA which sent me to Progressive with all the discounts and $100.00 deductible it costs me $278.00 for the year.
 

·
Standing on a Whale fishing for Minnows
Joined
·
9,467 Posts
im with progressive it it just went down to 195 yr for 30 k with 2500 fish equipment. i also insure house and vehicle with them for a multi discount. knock on wood
 
1 - 15 of 15 Posts
Top