[Rhodes22-list] Boat Insurance Question

[Bob Weber]

Mark, try State farm.  Covers replacement cost + plus liability and is 
around 15 a month.  If you need the name of the plan I can look it up.

Bob Weber


>From: mputnam1 at aol.com
>Reply-To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>To: rhodes22-list at rhodes22.org
>Subject: [Rhodes22-list] Boat Insurance Question
>Date: Tue, 04 Apr 2006 12:34:54 -0400
>
>Ok, Elton has delivered our recycled 1990 R-22 ... we're all excited in the 
>Putnam household, especially our four year old.  But here's the question du 
>jour ...
>
>We still need to get insurance coverage, but since this is our first boat 
>purchase, I'm a little unsure what the usual coverages should be on a boat 
>...
>
>I've gotten two quotes:
>
>One from my insurance broker that insured our house ... it's a Chubb policy 
>that would cover the full purchase price of the boat plus the engine.  It 
>would have $500,000 in liability coverage, a $500 deductible, and an annual 
>premium of $520.
>
>I also got a quote from BoatUS ... it would only cover $14,000 on the boat 
>and engine (well below the purchase price), it has $300,000 in liability 
>coverage, $10,000 in medical coverage, $500,000 in fuel spill coverage 
>(this doesn't seem necessary on a sailboat with an 8hp outboard), the 
>deductible would be $220, and the annual premium would be $167.
>
>Again, this is a 1990 R-22 ... I lean toward the Chubb policy because it 
>would fully cover what it would cost me to replace the boat if I ever had 
>to ... but maybe some of you will say I wouldn't need to buy a new boat and 
>that $14,000 is more than enough to fix any problem I would have.
>
>Don't worry, I won't hold anyone liable for the advice you give me!
>
>Thanks in advance.  As always, I greatly appreciate your advice,
>
>- Mark Putnam
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