Boat & Trailer Insurance

[Lazy Flamingo]

Any suggestions on boat & trailer insurance .... :?
Regular coverage vrs. replacement coverage ?

I have always had my antiques boats insured through my regular agent
who handles our houses, properties and vehicles.

Now I understand that there are better deals out there:

* United Marine Underwriters
* BoatUS
* Progressive

I have never dealt with any of those, so I do not know their reputation .... :roll:
Anyone have any experience with any of the above - good or bad ?

Edit For Add-On

Here in Massachusetts they DO NOT require insurance on boats, and alot
do not get it. I believe in having insurance to cover me from the guy who
might run into me or whatever, and not have insurance to cover himself.
Plus having insurance gives me piece of mind if I screw up ....

Why... you're in luck...

Ken (3388Sam) owns an Allstate agency right here in Lake Stevens. I'm sure he could give you a great quote and answer in questions you might have in general.

[3788sam]

LF- I would be glad to answer any questions you might have! If you like just shoot me an email.
Sorry I won't be able to quote your new boat since I'm not licensed in MA.
In general the companies you listed all have good reputations!
Just make sure that you get quoted the same Values and type of replacement from each co. ie: Actual Cash Value, Replacement cost, Agreed Value!
Also your current insurance co. might have discounts for multi-policies and I would include them in your list of quotes!

You mentioned insuring antique boats with your current agent. I don't know if boats are any different but there are agents/companies that specialize in classic and antique cars and motorcycles. I found much better deals for my old vehicles through these companies than I got from mainstream companies. For example, at one time I had 8 classic motorcycles insured. The individual agreed values totaled about 60K and I was paying about $150/yr. including $1m liability.

Raul

[Go Aweigh2452]

My current insurance carrier takes care of my classics.. In fact, I can take my insurance down to comprehensive only when I take them off the road in the winter. I can either call or go on line to change/activate the road part of the insurance. Plus due to more vehicles then drivers, I get a big discount. So, buy more boats!!!! I guess bottom line is to check all the carriers...

[Lazy Flamingo]

I called my agent, and they are telling me now that I will actually get a
better price from BoatUS than they can offer .... :?

There are two people in the office that have boats, and both are BoatUS,
claiming that BoatUS specializes in Marine Ins., therefor a better price.
They claim they checked the others, and BoatUS did indeed have the best
offer for the same coverage.

Anyone have any dealings with BoatUS ?

I'm insured with Allstate, but got a similar quote (prisewise) from Progressive. I just liked the idea of being able to walk into an agent if the time came....

If I just feel like wasting an agents time and drinking their coffee... I walk into Ken's office :)

That is until his wife tells me to beat it and him to get back to work...

(and Ken's not even my agent...) :?

[Lazy Flamingo]

I looked up Allstate in the phone book here, and could not find it ?
I called my agent, and he said that Allstate no longer does business in
Massachusetts ??? I don't know what thats about .... :roll:

[3788sam]

You are always welcome - SS
The admiral really likes all you guys since she meet you all before the boat show. Her only compaint is we talk about boats, trucks, Rc and computer right by her desk.
You should see the the looks I get when I read over her sholder :evil:

[Go Aweigh2452]

I have used Boat US since 1996. No problems, fast on claims. I have the extended towing package included. Will have to look up the cost if you need it, but they do a discount each year you have no claims... I only had one claim... so far... yes, they were cheaper than my homeowners and car carrier companies... (AFI and USAA)

[3788sam]

LF- Allstate = Encompass in MA. They are the independent lines of Allstate.
Allstate does not use Exclusive Agents there, it has something to do with MA laws as to what type of agent are allowed to do business with in the State

Encompass will not be competitive on Boat Owners pricing.

[Lazy Flamingo]

Thanks Ken for the info ....

The more I thought about Allstate, I remember them being in all the Sear's
stores around Massachusetts. Now that I think of it, I have not even seen
an Allstate office in a Sear's store here in Mass., or anywhere in years.

[3788sam]

Yea I have customers who have been with Allstate for 20+ years, and about once a year they will ask if we are ever going to be in Sears again?
My office right next door to a sports bar! If I could get them to cut a hole in the wall I could order a beer from my desk - I'll never open an office in Sears :D

Maybe with a long drill bit... we could get lucky and hit a beer line :D

Hmmm....

[3788sam]

Like your thinking SS!
Best beer in the world is FREE BEER! :occasion5:

[Go Aweigh2452]

FWIW, My Brother in law is an insurance adjuster and owns his own business the past 20+ years on Long Island, NY. He works for the insured against the insurance companies for fire, water, flood, whatever. His worst company to work with for a claim is Allstate... best is USAA... he has some interesting stories as to how they will not pay off a claim for months but will put someone up in a $200 day hotel waiting for a resolution to a claim... in the meantime, the hotel bills keep piling up. Allstate just doesn't know what the left hand is doing as the right hand is paying out the hotel bills...

[3788sam]

Doug,
Anytime and independent adjuster in involved there is a problem with the claim and there will be a delay in processing! - Not every claim is strait forward and some are plain fraud!
Allstate is the largest public held insurance company in the US - and the 2nd largest Property insurer, couldn't be that way if we handled all the claims as you stated!
You did say the insured where being put up in a hotel, at no additional charge to them by the way, while the claim was being processed and that is why you get additional living expense.
USAA - Great company- they don't have to be profitable and only insure Military.
Checked their rates lately - maybe they should look into their claims paid!


USAA Insurance Company


A worldwide insurance and diversified financial services association, USAA has provided insurance and financial services to the U.S. military community and their families since 1922. Active duty, National Guard and Reserve enlisted personnel, officers and officer candidates, and their dependents are eligible for membership in USAA. The company currently has over 5 million members and is known worldwide for superior claims service, helpful insurance specialists and unwavering financial strength.

Financial Ratings: (Claims paying ability and financial strength)

A.M. Best...................AAA (Extremely Strongl)
Standard & Poor's...........Aaa (Exceptional)
Moody's..................... A++ (Superior)



Allstate Insurance Company


Incorporated in 1992, the Allstate Corporation serves as a holding company for Allstate Insurance. Allstate provides insurance products to over 15 million households and has approximately 14,000 agents. The company sells auto, homeowners, life insurance products and other property and casualty products. It also provides investment products targeted to the affluent and middle income consumers. The company claims to provide excellent customer service and provides broad extensive policy coverage. Allstate insures 1 out of every 8 autos in the U.S.

Financial Ratings: (Claims paying ability and financial strength)

A.M. Best...................AA (Very Strong)
Standard & Poor's...........Aa2 (Excellent
Moody's..................... A+ (Superior)


FWIW I heard from my bother in law that all the people from NY are A--holes!

But I go to NY City once a year and love it! Any people I encountered, including cab drivers, have been great!






[/b]

[Tedster]

Good defense Ken! Ted :D

[Go Aweigh2452]

Ken, no argument, just that the claim they (Alstate) were withholding is only <$10,000. The hotel bills were over $25,000... before they finally settled for the <$10,000 anyway... took them over 9 months!

As far as my BIL, USAA pays out quickest and settles for the most verses ALState. I am sure due to being an independant biz that some areas/agents are tougher to work with then others. Afterall, it is a business and business' stay in biz to make money...

Six years ago I got quotes for earthquake insurance, I changed carriers for my house from USAA to AFI and kept my cars with USAA. I check once a year and to date, USAA has been best for me and all my cars. I am in process of checking costs come June. When I went with AFI, they were less expensive then USAA with earthquake coverage by several hundred $$'s. W/O earthquake insurance, USAA was less than AFI. It was not a hard choice to make since I had valuables insured with AFI before and found them to be a good company to work with. As far as AlState, I have not seen them come close to the rates I pay. As far as USAA rates, being a "good client", I normally see money come back to me... I dislike having them "hold hostage" the extra money for castrophies because it tells me that they "overcharged" me for that. But overall, my rates at the end of every year are much less then anyone else out there. BTW, I do the math every June when my policy comes due... Oh yeah, I was a licensed insurer in Washington State at one time (but for life and health) too so I feel confident as to what to compare as far as apples and oranges...

As far as NY being full of A holes... I grew up there and yes, have to agree, some where definitely in the A hole category. But after 9/11... I have seen a tremendous turn around. Personally, I like to visit but would not want to live there...

[3788sam]

But I go to NY City once a year and love it! Any people I encountered, including cab drivers, have been great!


My mother’s side has lived in Brooklyn their whole lives and I go back to visit every year! Great place to visit but I wouldn’t want to live there!

In my business I hear the good, bad and ugly about every company including Allstate and I could tell stories about all of them as well!
I don't for 2 reasons.
First I didn't experience it directly so the story is always one sided.
Second we always teach our employees to exceed customer’s expectations, can't do that and bash a competitor at the same time!

I glad you check your rates every year (everyone should from time to time) that tells me that you’re a smart consumer and understand your coverage’s. The price of earthquake coverage has gone up two fold in the last few years, but check your policy and see if your personal property is covered under EQ. I've read a few policies that only cover the dwelling and I would expect to pay less for that type of insurance.

I stated above USAA is a great company their rates may or may not be competitive. I have dozens of former USAA customers, being so close to Everett Naval Base, and most have never had a problem with USAA. They come over because we provide all our clients with outstanding local professional service and education!

I probably have done more research into insurance companies, before I chose to open with Allstate, and weighted the pros and cons that I get a little defensive when I here these FWIW comments!

I work hard everyday to make and keep the great reputation our office enjoys here in Lake Stevens and when I saw your slight bash, on a public forum, I had to respond so please don’t take it personally!

You have been in the business, you know what it take to earn your customer’s and how little it takes to loose them. Also the expense and time it takes to stay educated and maintain your licensees as well as being series 7 & 63 registered through the NASD.

[Numbknots]

Maybe All State pulled out cause they had to deal with "Senaturd Kennedy"?? Sorry for the Ranty (not really)

Tim