Additional cost on umbrella policy for a boat? How much is reasonable?

TiltonBB · 09-27-2015, 07:12 AM

Quote:

Originally Posted by Descant

BTW "Shopping" does not necessarily mean change agents. If you have Ford and you like it but want to see what's new, you start with your Ford dealer right?

If you expect the agent to be working in your best interest why would you "shop" with them? You would need other opinions and offers to find out if your agent is getting you the best deal. The agent that already has your business may not be as likely to work hard for you but a different agent hoping to earn your business might.

Many years ago I bought some rental houses and went into the local Allstate agent before each closing to get insurance. After about 10 years I shopped it around and another agent structured the primary policies and the umbrella differently and saved me about $1,200 per year. When I dropped the Allstate agent he called and said "I could have done that". When I asked why he didn't the conversation ended.

Your insurance agent works for commissions so it is more likely what they offer will be in their best interest than in your best interest.

tis · 09-27-2015, 07:53 AM

I was paying around 800 for the Baja and got it down to around 300. It took a bit but I insured three boats together with Progressive.

As for the umbrella, I have 5 boats insured under the umbella and they can't possibly be 400 each with everything else that is insured. One company would not cover us because of the Baja, another would not include the Baja.

IslandRadio · 09-29-2015, 05:21 PM

We finally got a good solution !

The agent was able to write a boat-only policy for $100. We added that, and everything is good to go !

The umbrella wanted some other "primary" insurance... and since the boat is pretty ancient (1988), I never bothered getting a primary boat policy.

Thanks VERY much for the intelligent responses and interesting discussion. Please continue both, of course

Regards, Steve

09-27-2015, 07:53 AM	#2
tis Senior Member Join Date: Jan 2006 Posts: 6,792 Thanks: 758 Thanked 1,467 Times in 1,023 Posts	I was paying around 800 for the Baja and got it down to around 300. It took a bit but I insured three boats together with Progressive. As for the umbrella, I have 5 boats insured under the umbella and they can't possibly be 400 each with everything else that is insured. One company would not cover us because of the Baja, another would not include the Baja.

09-29-2015, 05:21 PM	#3
IslandRadio Senior Member Join Date: Sep 2009 Location: Mirror Lake - Full time resident Posts: 398 Thanks: 70 Thanked 156 Times in 61 Posts	We finally got a good solution ! The agent was able to write a boat-only policy for $100. We added that, and everything is good to go ! The umbrella wanted some other "primary" insurance... and since the boat is pretty ancient (1988), I never bothered getting a primary boat policy. Thanks VERY much for the intelligent responses and interesting discussion. Please continue both, of course Regards, Steve

The Following 2 Users Say Thank You to IslandRadio For This Useful Post:
AC2717 (09-30-2015), Descant (09-30-2015)