Guys, I paid my boat loan off last year. My question is for those who have an insurance plan. How long she I keep a policy on the boat? (It's a 2010 Bass Tracker Pro 170). Thoughts?
Printable View
Guys, I paid my boat loan off last year. My question is for those who have an insurance plan. How long she I keep a policy on the boat? (It's a 2010 Bass Tracker Pro 170). Thoughts?
My 2001 has insurance, Why would you not have it ?
For as long as you can, your boat ins,will be the cheapest part of your fishing trip if you fish very much at all.
mines been paid off awhile,still have insurance:fish
Unless the price is exhorbitant, keep it. never know when it'll come in handy. Biggest thing is your electronics and type of coverage, My policy is for replacement coverage not book value. Was hard to find but when TM got stolen in a parking lot, got a brand new 54 lb thrust to replace my 12 yo tm
You need to keep insurance on it all the time because you never know when something is going to happen you may hit someone while out fishing hope not or you may have something go wrong with the motor or anything just my 2ctsQuote:
Originally Posted by REDBOAT
One more thing I keep full coverage on my tracker it's like $125 a year
It depends on whether you are willing, or able to absorb the loss if something should happen with no insurance.
It's good to have some sort of insurance on your boat new or old. I couldn't run out and replace what I have because some body run into the back of my boat while stopped a light. People not paying attention to the road or the water scares me with the idiots that we all know are roaming out there. I know everyone has had that one person always up on your motor while driving. You maybe the only one with insurance! Good luck if you don't.:pray
I paid cash for my boat and have had insurance the whole time. It is a 2006 and worth more than I would want to spend to replace it. Insurance is a gamble. You carry it and hope you don't need it. I fish at the coast sometimes and I carry Sea Tow. It cost too much for my size boat but "What if I need It" it could save me and the boat. I owe it to my friends that fish with me.
regardless of your financial status, you just can not afford not to have it......it is just too cheap to not have it.....I hit something underwater in my fiberglass boat and the bill was $2200.....paid in full by insurance.....also, you never want someone to sue you if you do not have insurance....didn't happen to me but I can sleep at night without worrying about it.....
you need the insurance for the liability aspect of it.. Hit another boat, run over a skier in the water, you would never pay off the lawsuit with insurance.
My boat is a 1990 model,I have full coverage on it.I carry Ins.to cover my butt,LIABILITY purposes
take the highest deductible you are comfortable with and keep it on it.
i don't have boat insurance but have been wanting to check into it........who do yall have coverage with?....my home/auto is USAA but when I did an online quote I somehow ended up on progressive site and they started asking questions I couldn't answer at the time so I didn't get any info
The liability is the big issue. Your homeowners won't cover you if you were to have and accident and injure someone. I have a 2000 Tracker that is maybe worth $4000 and I keep insurance to protect us against the unexpected, not the boat itself, but it is nice to know if I hit a stump and sink it I will at least have some coverage.(That is if I'm still around)
It does not even have to be your fault if someone is injured in your boat. If some good for nothing was drunk and plowed into your boat and say killed a friend that was fishing with you, if he was not insured there is a good chance the family, on advice from their lawyer, would sue you. Friendship only goes so far when a death is involved, especially if it put the family in a bad financial situation.
For $125 a year it is just not worth taking the chance.
I have package deal.(home, auto, and boat)
I guide and have a guide policy. all that I checked into had at least $300,000 liability. so that should tell ya what it might cost ya if ya had a bad event.