Boat Insurance

[Montana Trout Slayer]

Just bought a new drift boat and I'm trying to figure out my best option for insurance. Do you put it on your home owners insurance of do you put in on your auto insurance? Let me know what you guys do...

Thanks

[shawn k]

if you financed it your finance company will require you to have a separate boat insurance policy.

[Montana Trout Slayer]

Shawn you sure? When I asked them about the home owners policy they said that would be fine and didn't seam to have a problem with that..

[East Fork]

The way my insurance guy explained it, your homeowner's policy covers the boat while it is at your house. Your auto policy covers the boat while it is being towed. If you want the boat covered in the water, you have to get a boatowner's policy.

The above is wrong. See my comments below.

[EasyE]

Get a separate boat policy. I believe East Fork has it right.

[Connolly]

I do know ALLSTATE will insure a drift boat.
Will need to have it appraised for "replacement value".
I have used them

Greg

[Calvin1]

You shouldn't need an appraisal if you just bought it new. Your car policy will cover liability of your boat while it's being towed (if it breaks off and destroys a lexus). You would be responsible for the damage to your boat. My Allstate policy is about $100 per year and takes all the questions out of the equation.

[gt]

most, perhaps all, insurance companies offer boat insurance policies. your home owners is going to cover your possessions, not the boat/trailer. i suggest you READ your auto policy before you believe that it will cover a boat under tow. as per usual, your biggest concern should be your liability exposure with your boat and that suggests a seperate policy.

[Jason Decker]

i have my clacka insured by state farm for 12k
it is on a boat policy
a little extra $$ for rods and gear
the policy costs $215 per year

[East Fork]

most, perhaps all, insurance companies offer boat insurance policies. your home owners is going to cover your possessions, not the boat/trailer. i suggest you READ your auto policy before you believe that it will cover a boat under tow. as per usual, your biggest concern should be your liability exposure with your boat and that suggests a seperate policy.


GT's response caused me to question what I thought I knew. I was substantually wrong. My new understanding is that, under Washington law, no homeowners insurance covers vehicles. The term "vehicles" include boats and trailers. To quote, "anything bigger than a riding lawnmower isn't covered" by a homeowners policy. Auto insurance covers your liability while towing but not damage to the boat. Boat damage is only covered by a separate policy.

[Montana Trout Slayer]

Hey thanks for all of your advice!

[ChrisW]

Look up Boat Insurance Agency in Seattle. Very nice folks. They will help answer any Q's. My 22' sailboat is covered for ~$200/yr

C

[EasyE]

Just got my renewal policy in the mail from Safeco for my drift boat ... $96.00 for the year.

[Bill Dodd]

i have my clacka insured by state farm for 12k
it is on a boat policy
a little extra $$ for rods and gear
the policy costs $215 per year



I would check with State Farm on the cost of $215.00 for a 12k policy a year.
I also have State Farm and have a $9k policy and I pay only $79.00 a year to insure my clacka. both my raft and boat policys combined would not even come close to the $215.00 you quoted for your 12k policy and both mine combined cover over 17k and cost about $130.00 per year.
If you want contact info for my Agent let me know Via Pm and I will hook you up.