Boat insurance?

[SamSteele]

Hi all,

Just bought a brand new Lund and I'm looking at boat insurance. I contacted my normal insurance broker who has put a quote request into Wawanesa (who I use for all my vehicles, home, and my last boat, etc.) but they really had no clue as to what the Wawanesa boat insurance covered. I was asking about electronics, rods in the locker, storm damage, and they didn't know what was covered and what wasn't which didn't inspire a lot of confidence.

So the question is, who do you use for your boat insurance and what kind of coverage do you get? We will be leaving our boat on our lift at our cabin in SK for most of the summer, so theft is one of my bigger concerns. Appreciate any insight.

SS

[dodgeboy1979]

I use a company called Nautimax, the rates are reasonable and coverage is real good, theft of contents/electronics, trailering coverage, swimmer coverage etc...

[FreshAirGetter]

It's always best to just add it to your Home policy (whether it's a home/condo/tenant policy). It's typically all-risk coverage for your boat and contents (under a home policy ensures your contents are covered). Usually very reasonable rates. It'll be a little more if you go with a really low deductible, but then at least it makes it more worth it to claim. That being said insurance is best for larger claims, so you might want to only worry about $2000+ damage/loss, which would mean you wouldn't sweat the small stuff, as sucky as that can be! I'd go with a $200-$500 deductible personally, unless of course you have access to a "Disappearing Deductible".

[dodgeboy1979]

It's always best to just add it to your Home policy (whether it's a home/condo/tenant policy). It's typically all-risk coverage for your boat and contents (under a home policy ensures your contents are covered). Usually very reasonable rates. It'll be a little more if you go with a really low deductible, but then at least it makes it more worth it to claim. That being said insurance is best for larger claims, so you might want to only worry about $2000+ damage/loss, which would mean you wouldn't sweat the small stuff, as sucky as that can be! I'd go with a $200-$500 deductible personally, unless of course you have access to a "Disappearing Deductible".


Good point, just keep in mind when i priced out adding it to my house policy versus a new policy, Nautimax gave a cheaper premium and had way more coverage. Just ask your broker and they will do the figuring out for you.

[FishHunterPro]

I use a company called Nautimax, the rates are reasonable and coverage is real good, theft of contents/electronics, trailering coverage, swimmer coverage etc...

I would have to check but I think I use nautimax also.

[skidderman]

It's always best to just add it to your Home policy (whether it's a home/condo/tenant policy). It's typically all-risk coverage for your boat and contents (under a home policy ensures your contents are covered). Usually very reasonable rates. It'll be a little more if you go with a really low deductible, but then at least it makes it more worth it to claim. That being said insurance is best for larger claims, so you might want to only worry about $2000+ damage/loss, which would mean you wouldn't sweat the small stuff, as sucky as that can be! I'd go with a $200-$500 deductible personally, unless of course you have access to a "Disappearing Deductible".

I was advised by my insurance CO that it is not a good idea to add it to your home policy. Reason is if you make a claim on your boat it affects your house insurance as well. I'm with Intact.

[Blastoff]

Find a broker that offers any company that handles marine insurance. Going to have to make some calls.

[Who Da Fisherman]

I'm with Premier Marine, the insurance is good and can be reduced a chunk if you have a layup period.

Make sure any chargers are CSA approved.

If you need a broker suggestion, PM me.

Mine is Nautimax but I think I will have Premier give me a quote too this way I can tell if it is a good deal or not.
WDF

[67ZL1]

Check into replacement insurance too. Prices of boats are 30-50% higher now because of the low dollar.

[skykomish sunrise]

Just a heads up that wawanesa is a bottom of the barrel insurance company. Poor claims records. Lots of trouble with claim payouts. Generally a goto company for those with bad records...multiple claims. .impaireds etc. Buddy works for a company specializing in insurance claim rebuilds and they will not work on a claim handled by wawanesa...just an FYI. I'm with allstate and haven't had any issues

[Who Da Fisherman]

Hmmmm, our broker is using wawanesa and I have been with them for well over a decade, have had a few claims through them with no problems at all. Have price checkied them and could not find lower rates. Claim rebuilds take special work so maybe that is why they go else where....just sayin.
Each will have there own experience, this is just mine.
WDF

[Nova]

When I purchased my boat I asked the salesman to get a feel for who to avoid. He said that in their experience wawanesa was one of the best that they deal with, for both the repair shop and customer. I've got my house insurance through them so it was an easy choice. Had a claim last summer and was impressed with how quickly and smoothly it was handled.

[LSLAKER]

There has been a few people who had discovered the hard way that their fire insurance applied only when their boat was out on the water. Check that you have coverage at all times for fire.

[Walleye101]

Your a brave soul leaving your rods, electronics, etc in your unit while it sits exposed to the dogs. Even on a lift it's not safe. For what it's worth and the time it takes to lock it up in your cabin that's what you should be doing. IMO