[darkcalling]

Yeah I am running 386 a year and insured for 45k plus 10k for trailer replacement if thats normal or not? In Alberta

[ColoradoDiablo]

That sounds like a excellent deal! Is insurance required up there or is it by choice?
Larry

[mikeyt]

Originally Posted by darkcalling

Yeah I am running 386 a year and insured for 45k plus 10k for trailer replacement if thats normal or not? In Alberta

Are you sure you have Replacement Cost on that policy? Most insurers wont offer RCost on boats/trailers over 10yrs old. Those amounts may simply be the maximum amount the insurer will pay which means if similar boats/trailers are found for less than those values then the lower amount is the max they pay out.

[mikeyt]

Originally Posted by ColoradoDiablo

That sounds like a excellent deal! Is insurance required up there or is it by choice?
Larry

Boat insurance isn't mandatory up here but...its like being at fault for an accident when you dont have insurance. If you dont have it, then the injured party can sue you for damages and/or bodily injury which could be very costly. Homeowners policies 'usually' pick up some coverage for boats under 'x' feet long and 'x' horsepower but wont provide any liability coverage in the event you cause an accident.No Mariah's will fit into the homeowner policy restrictions though as its designed for tin cans/runabouts so you will have to buy additional coverage.

And...the insurance is usually a bit less expensive if you have it added as a rider to your homeowner policy rather than purchasing a separate policy thru a different insurer.

[ColoradoDiablo]

Yeah , I tried to get mine insured for 7500.00 but they would only go 5000.00 because of the age of the boat. I have mine covered with my truck , suv , 5th wheel camper. I thought 18.00 per month was good , but now I am beginning to wonder
Larry

[Dredd]

Originally Posted by ColoradoDiablo

Yeah , I tried to get mine insured for 7500.00 but they would only go 5000.00 because of the age of the boat. I have mine covered with my truck , suv , 5th wheel camper. I thought 18.00 per month was good , but now I am beginning to wonder
Larry

They'll only pay you the fair market value for it in the case that it gets totaled anyway. It doesn't do any good to over-insure it. My insurance guy asks me, "What do you want to insure it for?" He'll put anything on it but it's silly because he and I both know that they aren't going to pay that out.

[ColoradoDiablo]

That is very true. But here in Colorado my "new" diablo would sell for 4-5 grand the way it is with trailer. And it needs some TLC. I paid 1725.00 for it in Illinois. I never ran insurance til my last purchase of a boat was totaled by a crappy driver , and I had no insurance at all on it. (Learned my lesson)
Seems like kinda your damned if you do ....damned if you don't!
Larry

[mikeyt]

Originally Posted by Dredd

They'll only pay you the fair market value for it in the case that it gets totaled anyway. It doesn't do any good to over-insure it. My insurance guy asks me, "What do you want to insure it for?" He'll put anything on it but it's silly because he and I both know that they aren't going to pay that out.

Exactly. Why pay the premiums on say $10k of insurance if the boat will really only fetch $7500. A lot of people get fooled by that one and just waste their money.

[darkcalling]

Nope thats what I get if it gets wrote off or stolen, same policy I carried on the last boat

[ColoradoDiablo]

Awesome! , Now that I have it home I'm not as worried about the coverage anymore. I thought about seeing about putting insurance on it for just the summer but I don't know if they would do that. Ahh , the 18 bucks ain't that much! Better be safe than sorry.
Larry