NJ Saltwater Fisherman Forums

NJ Saltwater Fishing Reports and Information => Helping Each Other Out => Topic started by: Hotrod on July 28, 2008, 10:26:51 PM

Title: Boat Insurance
Post by: Hotrod on July 28, 2008, 10:26:51 PM: I have a friend Cough.. Cough..

Who is about to close a deal on a 2003 2520 parker..

The Yacht Sales told... Him They don't think the lender is requiring Insurance.. First I can't believe that.. This I will find out... But Were should I..HE go for Insurance and what do you guys think he should get coverage for?

really looking for the best deal..He is... ;)
Title: Re: Boat Insurance
Post by: Luna Sea 5 on July 28, 2008, 10:30:02 PM: Boat US, great insurance.. if your financing a boat, the bank needs the boat to be covered by insurance. If you don't owe anything on the boat, then you don't need insurance, but should have it anyway.
Title: Re: Boat Insurance
Post by: CapBob on July 28, 2008, 11:17:31 PM: whs t^
Title: Re: Boat Insurance
Post by: Hotrod on July 28, 2008, 11:33:29 PM: t^
Title: Re: Boat Insurance
Post by: CapBob on July 28, 2008, 11:54:32 PM: when b the party on your friends boat? TT^ chrz
Title: Re: Boat Insurance
Post by: IrishAyes on July 29, 2008, 06:07:23 AM: whs whs
Title: Re: Boat Insurance
Post by: Luna Sea 5 on July 29, 2008, 07:08:02 AM: I am sure your friends boat says HOT ROD in bright red letters on the side.
Title: Re: Boat Insurance
Post by: Hotrod on July 29, 2008, 07:18:55 AM: Nope t^

(http://www.redsboats.com/Boats/parker/2520a.gif)
Title: Re: Boat Insurance
Post by: Hotrod on July 29, 2008, 07:22:33 AM: Quote from: CaptBob on July 28, 2008, 11:54:32 PM
when b the party on your friends boat? TT^ chrz

Soon..
Title: Re: Boat Insurance
Post by: brickken on July 29, 2008, 07:49:30 AM: Hey Hotrod:

Tell your friend ;) that he needs at a minimum liability insurance on the boat. I'd suggest 500,000 in liability and if he has an umbrella policy make sure you add the boat policy to the umbrella. If my memory is correct in another thread some time ago "your friend" had stated he had a $1,000,000 umbrella. Think of it this way, Umbrella's only protect you from the "rain/pain" if you are standing under it, not outside. So if you don't call your agent and tell him/her that you have a boat policy it won't be covered under your umbrella. Boat US is good, see my earlier post about some other good insurace companies. Progressive also has good coverage at an affordable rate. Last but not least ask your current insurance agent for some options. Let him do the homework, that's his job.

But back to coverage; even if the bank doesn't require physical damage, I'd get it. That is unless you want to lay out the money to pay off the loan and purchase a replacement boat...and if that's the case you are doing way better from this site than I could imagine. TT^

...I mean your friend is pretty well off.
Title: Re: Boat Insurance
Post by: Hotrod on July 29, 2008, 08:16:25 AM: OH.. insurance will be a must.. ran a boatus quote.. 625/y not bad .. but I have to really look over the Numbers.. again and see what's covered
Title: Re: Boat Insurance
Post by: Reel Time on July 29, 2008, 12:36:05 PM: how about one of the old post's seems to be some info there hotrod,, but then you already knew that one didnt you

remember cheapest aint always the best

http://njsaltwaterfisherman.com/forums/index.php?topic=5578.0 (http://njsaltwaterfisherman.com/forums/index.php?topic=5578.0)
Title: Re: Boat Insurance
Post by: Reel Time on July 29, 2008, 12:37:16 PM: O, and tell your buddy that looks like one sweet a$$ ride t^
Title: Re: Boat Insurance
Post by: Hotrod on July 29, 2008, 03:10:37 PM: :) t^
Title: Re: Boat Insurance
Post by: PeggyLee on July 29, 2008, 03:42:24 PM: I am so happy for YOUR Buddy!!!!! He is a nice guy and deserves the BEST.
If the banks finance they want proof of insurance and some marinas now demand to see the insirance policy.Your friend could cover it for replacement value or agreed value. Price them out and determine the deductibles and coverage apples to apples.Tell your FRIEND to check out Boat US and other companies Like ACE Marine and Progressive, Geico and etc. Good Luck, AJ
Title: Re: Boat Insurance
Post by: Hotrod on July 29, 2008, 05:41:00 PM: Thank You Guys.. and Gal.. My buddy is keeping this on the down low.. trying to avoid any jinxing... But yea... he waited 25 years for a day like this to come.. including 15 of them trying to sway his better half..

Yesterday he received her blessing... or should I say the bitching stopped after we were attacked by a swarm of angry green heads with no where to run t^

Boatus looks to be the best deal..
Title: Re: Boat Insurance
Post by: Luna Sea 5 on July 29, 2008, 08:28:06 PM: thats one way to do it.. "honey, the green heads are attacking.. we need a boat with some cover" hhppy
Title: Re: Boat Insurance
Post by: CapBob on July 29, 2008, 08:41:38 PM: sweet ride........can just picture "your friend" asleep in the stern holding his pole hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy
Title: Re: Boat Insurance
Post by: PeggyLee on July 29, 2008, 08:56:26 PM: Honey "What name do YOU think sounds good to YOU"? What kind of fishing do YOU want to do? TT^
Title: Re: Boat Insurance
Post by: IrishAyes on July 29, 2008, 09:29:54 PM: Watch when you name it so you don't make the same mistake this guy did.
Title: Re: Boat Insurance
Post by: Hotrod on July 29, 2008, 10:15:11 PM: ;D hhppy
Title: Re: Boat Insurance
Post by: Luna Sea 5 on July 30, 2008, 04:01:43 AM: Quote from: CaptBob on July 29, 2008, 08:41:38 PM
sweet ride........can just picture "your friend" asleep in the stern holding his pole hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy hhppy
chrz rofla rofla
Title: Re: Boat Insurance
Post by: ped579 on July 30, 2008, 08:25:49 PM: You don't to, Catfish has the real picture... rofla rofla hhppy hhppy