Boat insurance split

[-JR-]

Went and got boat insurance again,not to happy about having to split up the value of the unit .$3,000 on motor $3,000 on haul and $2,000 on trailer.
I don't know why they do that .They could not tell me ,just said always has been.( ING insurance)
Anyone else have a different policy ..and what is the best way to split it ?

[Wolf Tracker]

Wawanesa does the same!

[seahawkfisher]

i just use the basic coverage that comes with my house insurance; it's only good up to 5000, which is pretty close to what my rig's worth. They offered me a better policy than that but that one was free; after the deductible i'm out about a grand which i can handle, in lew of no more payments.
cheers

[Chris K]

The company I deal with is Ogilvy & Ogilvy out of Toronto. The reason I deal with them is from past experiences in dealing with insurance companies here in Alberta and their underwriters. The people at Ogilvy actually drive and operate boats, and understand them, and they insure you properly with their programs. I was sold a policy by a local agent here in Edmonton in the past, and even though I went through everything with him and what I did with my boat, he had said I was covered by my policy. Everything was fine until I made a claim. Then I found out the company said I was not insured properly blah blah blah... well after a long fight things were resolved, but it was a major pain. Here is a link to their marine division, and I have sent several friends to deal with them, and Ogilvy has been substantially cheaper for each one of their boats, and they have switched bot insurance providers. I can say they are wonderful to deal with if you have a claim, and truly believe in customer service and satisfaction.

http://www.ogilvy.ca/english/html/marine/index.asp

I don't know what to say about your split, other than I don't think you should value your trailer at more than 1000 if your package is worth approx 8 k. I would keep the policy seperate from your house as it's far more detrimental to make a house claim vs a claim on a boat policy. For the 500 for the policy (or maybe less), you know that it won't affect your home policy if you have a writeoff (or serious accident/death/disability and the insurance limits set with them...liabilites and such are not to be underrated at all), and you can go new boat shopping (or settle a claim), and most boat insurance companies will wipe your slate clean for claims after a three year perood if you are accident free, and they let you have 2 claims before your rates are really hiked. I had a lower unit claim and a written off hull, in two years, and then for my next boat the current insurer I had told me they would not insure me. I contacted Ogilvy from a reccomendation from a friend, and after 2 claims with my previous company, Ogilvy did insure me was cheaper than my previous insurer with the proper coverage and liabilites for what I needed. Figure that one out. Same thing for a friend that's on this board with a boat he bought this spring, except he has had a couple complete writeoffs and his claims were for a much bigger dollar value.

The cheapest route to being covered might work when it comes to insurance time, but that doesn't mean it will work come claim time. Cover your butt from the start (with the proper coverage and liability insurance) if you can afford it because it will make things so much easier and simpler in the end. Do you really want to work hard for

Chris K