View Full Version : Best Boat Insurance X2

02-15-2009, 08:37 PM
This week I'm gonna shop around for a new policy for the new X2. Anyone have any opinions or advice? I've used Ski-Safe in the past on the 197's. Did a quote with US Boat last year as well.

Wondering what kind of deals folks here have seen.


02-15-2009, 09:21 PM
I've been with Boat US for a long time. Haven't had a claim in years so the price has actually gone down along the way. Everytime I try another company and look for the same level of coverage the price is either so close it's not worth leaving or it's more. The one time I did have a clain (after the wife backed into the Maristar while in the drive way) Boat US just told me to get an estimate and get it fixed. No hassles, no running around town and no cheap repairs. That's something I consider to be really important.

02-15-2009, 09:23 PM
I pay $400 a year with Progressive on my 05 X2. Im interested to see what is posted here as well. Gieco was like 20-30 more a year. However, I think the pricing and insurance companies vary greatly based on your location?

02-15-2009, 09:26 PM
State Farm $50 a month for my 40th

02-15-2009, 09:30 PM
I have been with Progressive the last 2 years, and was paying a little under $600. I received a quote from Boat US and it was for $270. I'll be switching this week.

02-15-2009, 09:32 PM
My independant insurance guy wants $500 per year for my 77 S&S through Progressive. Looks like I have some more shopping to do.

02-15-2009, 09:35 PM
Everything I own is with State Farm. Paid $550 year last 2 years, but switched to Progressive for <$400 for better coverage. Good Luck!

02-16-2009, 07:19 AM
Guess I should have included the price. $300/yr for a 03 X2. Includes $50 on water towing and 100 mile radius towing while trailering. Where I really saw the difference in some of these companies is when they asked who else in the house hold was at driving age and if they would be driving the boat. I have two daughters (17 and 22) that drove the insurance through the roof. Boat US just asked who would be regular drivers which is just my wife and I.

One thing you have to watch for with Boat US (and I would think most other companies) is pro-rated coverage on older boats. This is usually in the fine print but can really add to out of pocket expense should you hit something and they only want to pay a half or third of the cost to repair a transmission or shaft.

Based on a couple posts regarding cracked blocks that I've seen recently, Boat US also offers insurance for winter storage. Not trying to push Boat US here but I've done a lot of comparisons over the years and there's a lot of things to ask and consider when shopping for insurance. It's very difficult to really know if you're getting the best deal or coverage.

02-16-2009, 09:30 AM
I use Ski-Safe for my '08 X14. $573/ yr. with the boat valued at $58K. I also have it listed as part of my umbrella policy on my HI.

jdl xstar
02-16-2009, 03:27 PM
Need to start making some calls. paying 648/yr = 54/month with Allstate.

02-16-2009, 03:32 PM
Alright, thanks for some of the numbers. Gonna start the calls now. I paid around $330 a year for the 197 with 42K coverage through Ski-Safe. Boat US had a great quote, but there were a couple coverage catches with the base policy that weren't apples to apples with what Ski-Safe had given me.

I saw the ad in the USA Waterski magazine that came with my membership last year. Can't remember which company it was with. I cracked up, because one of the points he was trying to sell me on was that if I signed up through them - they'd cover my USAWaterski membership. I said - well, can you cover 2009? Because I just joined in 2008. He said, no. I said - well how is this supposed to work exactly? Your ad comes with the membership - meaning, i just joined. And now you are offering me free membership but you cant give it to me if I've already joined?

Who signs off on this stuff? LOL.

I'll let you know what I find.

02-16-2009, 03:36 PM
Try West-Mar... they have the most comprehensive (full-replacement) coverage I could find. I think I pay about $430/year with no lay up and valued at $55k with accessories and trailer... not that the value matters, since they will be replacing it if anything were to really happen.

Try 'em out: http://www.westmarinsurance.com/

The first year I had my boat (2007), I used Boater`s Insurance Agency, Inc. They were running a special for MasterCraft but they were about $500/year and immediately pro-rated replacement value.

02-16-2009, 06:03 PM
Geico just quoted me 410/yr. We have all of our other policies with them. That was for 65K with a winter layup of Nov 1 through March 31. Geico works with Ski-Safe apparently. They don't disclose the type of coverage it is - replacement, agreed value, etc. Have to get a human on the phone to answer that q.

02-16-2009, 06:10 PM
Just looked at my old Ski-Safe policy. If GEICO is utilizing what they normally do, its not too bad. Replacement value as agreed, so in my case, I said 62. (57 and then 5 for trailer)

But, if the boat is a total loss within 30 months of purchase (and it was brand spanking new at purchase) they will pay to replace with a new or comprable model up to 120% of agreed value. So.....if the boat gets wrecked by a tree while its on trailer.....74K.

Not too bad. I'm gonna call a few more tomorrow. Anyone here made claims with any of the above? My buddy ran his SN206 into something with ski-safe. Painless process to get the claim paid, then they promptly dropped him.

jdl xstar
02-16-2009, 07:21 PM
Geico just quoted me 410/yr. We have all of our other policies with them. That was for 65K with a winter layup of Nov 1 through March 31. Geico works with Ski-Safe apparently. They don't disclose the type of coverage it is - replacement, agreed value, etc. Have to get a human on the phone to answer that q.

Sounds like a really good deal. I'll try to get a quote from them also. I didn't take into account the winter lay up you guys have so that probably explains the higher premium for us southerners. Plus the insurers around here are parranoid of hurricane damage.

02-17-2009, 12:01 PM
My independant insurance guy wants $500 per year for my 77 S&S through Progressive. Looks like I have some more shopping to do.

I have my '82 insured through Progressive, valued it at $10,000. because of the 454/425hp BBC and all of the other little unique factory items and pay $240. per year.

02-17-2009, 12:23 PM
I use Ski-Safe.

I had a friend (not with Ski-Safe) who had their boat totaled a few years ago (got hit by a fishing boat ... tower said his wife and son from being decapitated). He did not have comprehensive replacement ... make sure you specifically request full replacement

02-17-2009, 02:05 PM
I have my '82 insured through Progressive, valued it at $10,000. because of the 454/425hp BBC and all of the other little unique factory items and pay $240. per year.

I will definately be doing some insurance shopping soon.

02-22-2009, 12:19 AM
Well I'm done shopping. Ended up going through Geico. Ski-safe works with Geico and Axis to underwrite boat insurance. I received a pretty good discount by going through Geico vs calling Ski-safe directly. All of my other auto and home insurances are through Geico.

I did learn that each company has their own little nuances - making apples to apples comparison really hard.

One big thing to look at is how they will pay the claim in the event of a total loss. 3 variations I heard about.

1 - Agreed Value
2 - Cash Value
3 - Replacement

Obviously in the case of a brand new boat, #3 is really nice. Both Progressive and Ski-Safe will do #3. Comparing those 2 against one another in that department, Ski-Safe wins. They will pay up to 120% of the agreed value or 100K, whichever is lower, to replace your boat with a brand new one. If MC stopped making the X2 when the loss occurred, they would have to replace it with the new comparable model.

#1 was what Allstate and BoatUS were quoting. Although BoatUs also had a real cheap "saver" policy that was cash value.

Cash value isn't a good deal. They will give you book value on the boat. Of course, they won't tell you up front what book they use. As soon as they said that, I would ask "as determined by who specifically?" I was greeted each time with silence. They all thought the question was unreasonable. When prodded, I'd get the answer "blue book." I'd ask "which one?" No answer. You can't find that out until you make a claim. So drive 2009 X2 off dealer lot, and have a tree fall on trailer the first night in the driveway - total loss. That is when you find out that the 'book' value on that brand new 65K X2.....is 51K or something outrageous.

H2Oski's underwriter refused to do an even deductible. The lowest they would go was 1% of the insured value. The lienholder in my case stipulated a maximum deductible of $500. With 1% rolling in just fractionally above that number on the hull....this was a problem. The lienholder wouldn't budge, nor would the underwriter. What was comical was that the agent really believed that 1% was the industry norm. Meanwhile, the others never heard of percentage based deductibles. H2O also required the value of the boat on the invoice including sales tax. They were an agreed value quote.

These quotes were based on the following

300K liability / 300K uninsured boater
500 deductible
Boat value around 65K with trailer.

Each one varied a bit in the areas of personal property coverage. BoatUs didn't offer anything standard as an example. Ski-Safe offered $2500 as part of policy. Progressive offered $3000. Medical coverage with BoatUs was 1000 per person non family / 25000 per family member. H2O was 5000 per person as was Progressive and Allstate.

Allstate quote $900+
Progressive quote $948
BoatUS $535
H2O $500
Ski-Safe $437

The only downside to ski-safe was the 'pay up front' requirement to bind. The others were more gentleman like, with the ability to bind and pay 30-40% within 15 days, and payments of some sort after that.

Thanks for the input. Thought that I'd close it out with what I found so others might benefit.

02-22-2009, 08:47 AM
Jerry, good info. I gotta wonder why my ski safe is over $100 more than your quote.....

02-22-2009, 11:08 AM

All of my insurance is through Geico. They will even generate the online quote for boats on the Geico website. The phone number Geico lists for quotes - is Ski-Safe's number.

Try to run the quote through the Geico website. I input my Geico auto/house/umbrella policy number into the quote. I was told that makes a big difference in price vs going direct to ski-safe. (if you're with Geico to begin with)

FWIW, we shopped around for car and homeowners insurance about 8 months ago, and Geico blew everyone else away there too - for comparable coverage. I think we saved 500 a year when we made the switch.

02-22-2009, 11:09 AM
I have been using Progressive Since I bought my boat (2003 Prostar 209 with tower) and I pay $210.00/year with a $500.00 deductible, roadside assistance and water towing. I do get the multi-policy discount and pay in full payment discount(make 1 payment a year instead of multi payments)

02-22-2009, 11:18 AM
I switched from Progressive to Geico last year and my premium went from $501 down to $370 for the same coverage ($35K). I was starting to think even that seems high compared to some of you guys, but then remembered I'm in Florida and the coverage is based on year-round use. Plus, the coverage doesn't apply to hurricane damage so if I have to evacuate the boat is coming with me. :mad:

02-22-2009, 11:20 AM
It seems that the insurance quotes vary greatly by region. Different risk models based on where the address is.

Progressive's 'pay in full discount' was 880 vs 948. We started looking at quotes for the cars and home, but for a 6 month period they came in substantially higher than what we had.

The allstate agent tried to tell me that my Ski-Safe quote could not possibly true, or the coverage they were quoting could not be true. She seemed to suggest that I was being lied to - despite having a copy of the Ski-Safe ""seafarer" policy in front of me. She went on to say that my boat is considered ultra high performance. I got a speech about 350HP in a 20 ft length being a big red flag. I discussed the fact with her that the boat was a ski boat, and that perhaps Allstate's underwriting department needed to educate themselves on boating category if they want to compete with an underwriter that understands the product we operate.

02-22-2009, 11:23 AM
Also - the only company that offered a discount for winter lay-up was ski-safe. The rest of them wouldn't even acknowledge winter storage. Reason being that they feel the boat can be trailered somewhere it can be used at any point in time, and they don't want that additional risk.

Another question I loved was "who will be operating the boat?" I would then ask, "define operator." H2Oski defined an operator as "anyone who has constant access to the keys." Progressive defined operator as "anyone driving the boat." When she said that I said....cmon....have you ever been on a boat? I can't tell you right now who is going to drive the boat, that is a little ridiculous.

02-22-2009, 04:19 PM
Make sure you ask for a multi-policy discount and see what they can do for you. I saved $$$ by insuring my car, Suv, Motorcycle, and boat with the same company. It doesnt hurt to try.