[Rhodes22-list] Boat Insurance Question

[Bob Weber]

Mark, My biggest concern is towing the boat.  If it were to go skipping down 
the highway the boat would be a total loss and lots of other damage would be 
expected. Originally is I had a loan on the boat and I dreaded having a 
payment and no boat to show for it.  Bob


>From: mputnam1 at aol.com
>Reply-To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>To: rhodes22-list at rhodes22.org
>Subject: Re: [Rhodes22-list] Boat Insurance Question
>Date: Tue, 04 Apr 2006 12:52:12 -0400
>
>I have State Farm on my vehicles ... good suggestion ... I'll call them ... 
>if anyone else has an opinion, I'd appreciate it.
>
>Does everyone feel I should be completely covering the purchase price?  
>Seems to me I should be ...
>
>-Mark Putnam
>
>-----Original Message-----
>From: Bob Weber <ruba1811 at hotmail.com>
>To: rhodes22-list at rhodes22.org
>Sent: Tue, 04 Apr 2006 11:41:50 -0500
>Subject: RE: [Rhodes22-list] Boat Insurance Question
>
>
>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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>
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