Boat insurance a must?

[greatwhite]

I guess it depends how much is the boat worth?

[trimmer21]

I have insurance on my 17' tinner bass boat that costs me a measly $150 a year that covers theft,fire and $2M liability. The odd time,I'll be locking through and get stuck in with bigger craft. I wouldn't want to be the guy that accidentally gets jammed into a stern drive or crunched into a cruiser and cracks the gel coat. Can you imagine what that repair bill would be? Money for insurance is cheap.

[greatwhite]

That make since. Also would make since if the outboard was worth a lot. I have a 12 ft tinner and the outboard is worth about 100 bucks. 95% of the time nobody is around in the small lakes I fish I only have to worry about theft and depending on where I am we sometimes look are expensive stuff together with a long tow chain. So in my case barely worth the 150 bucks a year.

I have insurance on my 17' tinner bass boat that costs me a measly $150 a year that covers theft,fire and $2M liability. The odd time,I'll be locking through and get stuck in with bigger craft. I wouldn't want to be the guy that accidentally gets jammed into a stern drive or crunched into a cruiser and cracks the gel coat. Can you imagine what that repair bill would be? Money for insurance is cheap.

[trimmer21]

That make since. Also would make since if the outboard was worth a lot. I have a 12 ft tinner and the outboard is worth about 100 bucks. 95% of the time nobody is around in the small lakes I fish I only have to worry about theft and depending on where I am we sometimes look are expensive stuff together with a long tow chain. So in my case barely worth the 150 bucks a year.

It's the liability insurance that concerns me. If someone stole the unit,I'd be out maybe $5K...tops.

[greatwhite]

Yeah nobody on the small lakes other than me. But maybe .... could I sue myself and make the insurance company pay?

I think my boat and motor are probably worth together 500 - 1000.

It's the liability insurance that concerns me. If someone stole the unit,I'd be out maybe $5K...tops.

[MarkD]

I'm really glad that asked this question! I bought a new boat/motor/trailer altogether for about 10K last year. I think now that a hundred or two bucks a year will worth for the peace of mind, covering everything. I only go to GB, quite hard waters to navigate... And I'm a kind of person who comes early and come back sometimes after dark.
I need an insurance, period.
Really appreciate the responds. Thanks!

[MarkB]

Yeah, not sure legally if you need it, but marina's require it if you enter, even to go get gas. Not sure if you never go into marinas or commercial facilities.

[toddy]

I always insured my boats under my home policy until this year. I started seeking quotes when we purchased a new home as RBC insurance was going to hose me on the new house.

The broker I went through broke it down pretty good. There are significant benefits of having marine insurance for your boat IMHO. Cost is about 100 bucks more than having it as an add to the home policy and I think its well worth it.

[Ottawa_Rob]

I have insurance on my bowrider from a dedicated marine insurer. The quote from RBC was almost double the other vendor.

Not sure if I can name them here but I can let you know if you want to call for a quote.

[benjhind]

I'm really glad that asked this question! I bought a new boat/motor/trailer altogether for about 10K last year. I think now that a hundred or two bucks a year will worth for the peace of mind, covering everything. I only go to GB, quite hard waters to navigate... And I'm a kind of person who comes early and come back sometimes after dark.
I need an insurance, period.
Really appreciate the responds. Thanks!

If you're sailing to Great Britain in a 10K boat, you need life insurance, not boat insurance!

Now I need to get boat insurance too... never gave much thought to liability. Thanks folks.