Insurance

[enufsed]

I'm looking at M26 boats with a view to buying this spring or summer. For budget purposes, what should I expect to pay each year for insurance? Just interested in a range so there are no "big surprises." I live in Ontario, Canada. For argument's sake, let's pretend I buy a boat for about $20,000 that's say, seven years old.

[pokerrick1]

Just a guess $300/year. Be sure to get a quote from Progressive among your others.

Rick

[bscott]

State Farm, $26,000, $265.00 Boat USA was $310 plus $35 for towing

Bob

[cuisto]

Here in ontario i added it to my home policy along with 4 other boats and an antique farm tractor we use on our woodlot for about $60

[pokerrick1]

Work with me Cuisto - - - how much is that in REAL money

Rick

[Russ]

We went with BoatUS. They (and USPS) recognize boating education. For $35,000 and $2,500 trailer ins. it was $250/year. USPS came in at $300.00.

An insurance company that understands boats was important to me. Safeco would insure us too, but I feel better with a company that does boats.

[cuisto]

pokerrick,

i think its about $500 us now

[pokerrick1]

pokerrick,

i think its about $500 us now

That sounds right!

Rick

[Beam's Reach]

Just renewed mine with Robertson & Robertson in Toronto for $320. You can do it under your house insurance but be aware of restriction. Robertson & Robertson is true marine insurance.

[Russ]

You can do it under your house insurance but be aware of restriction. Robertson & Robertson is true marine insurance.

The Mac which is actually 25' 10" and under 26' can often be covered under homeowners policies. However there are restrictions and they often don't understand boats. You don't want to be fighting with your insurance company when you need to actually use the insurance.

[Beam's Reach]

You're not kidding...a friend has an aluminum hulled power boat with a small cuddy cabin. Not sure of the size, but definately smaller than the Mac. His insurance company wanted a full marine survey before they would add the boat to his house insurance policy.

[tangentair]

Thing about a home policy is the limits, usually $1000 - $5000 USD (about 350 Canadian or 250 Euros) and the things not covered like EPA clean up costs or replacement of marine plants for groundings.

[Loefflerh]

I got 2 quotes from BoatUs, the premium coverage is 293$ and includes 250$ for towing, plus membersip fees of 19$'. That was by far the cheapest and best coverage I could get. Insured value is 32000$
Hans

[enufsed]

Thing about a home policy is the limits, usually $1000 - $5000 USD (about 350 Canadian or 250 Euros) and the things not covered like EPA clean up costs or replacement of marine plants for groundings.

Tangentair, I know our Canadian currency is doing well compared to the US greenback, but I think you're getting ahead of yourself here. Your currency won't be devalued that much for at least a few more years!

[tangentair]

This is probably going off on a tangent but the reason our currency is being devalued is one of the final Bush conspiracies. You see the idea is to make it so cheap for Canadians and Germans/Brits to visit Florida (Bro Jeb's state) and Texas that they will come in droves, spend their money, which the evil conservatives will hord, then when the democrats finally reestablish fisical responsibility and the value of the dollar rises, they make a killing buying cheap foreign currency and wait for the cycle to repeat.
BTW, it is a good time to buy land just west of Miami