Umbrella Policies

[Seafordguy]

The F&I section is off to a slow start so I'll throw one out there that has been weighing on me

Who here has an umbrella policy that covers the Boat?

I have been increasingly concerned about what happens if I were to cause a major accident while towing. Whether my fault or not I am sure the idiot pulling the "cigar" boat would end up catching some blame and a couple hundred K in insurance won't go far.

USAA was willing to write but was quick to exclude the boat. Although they did require that I have 500k in motorcycle insurance which I thought was astronomical.

Any thoughts or recommendations?

Never had a claim or moving violation, no liens on boat, own house, etc....

[Chris]

From what I've been hearing, over the last couple years every umbrella insurer has been excluding them. The only one I believe still doing it is AIG Private Client. Most likely not available to the average boater.

[BGIII]

Try Home-Owners Insurance if they do business in your state.

[phragle]

usaa is usually pretty good on things, except boats.. they handled all the details for me but the actual company is not usaa and thats on a nova 250 with 376 hp .. so I used usaa but it was underwritten, still a decent rate though.

[Seafordguy]

usaa is usually pretty good on things, except boats.. they handled all the details for me but the actual company is not usaa and thats on a nova 250 with 376 hp .. so I used usaa but it was underwritten, still a decent rate though.

Yeah - USAA wasn't interested in insuring the boat the first time so I wasn't surprised when the blew the boat out of the policy....

[Hot for Teacher]

We have one through State Farm and it includes the boat....so it says...
I'll call my agent tomorrow......

[cigracing1]

I do not work direct with public we support Indendent Agents so if you guys like utilizing your agent just have them call me and i can help with the placement of your boat, motorcycle and commercial insurance. We work Nation wide.

The only state i do not provide marine coverage is FL.

Colin Caldwell
Cigracing1
1986 24 Firefox
918-588-2000
ccaldwell@midman.com

[Griff]

I have State Farm for my home, cars and boat and also have an umbrella with them that has an extra rider attached for the boat. I had a hard time getting them to insure the boat and I doubt they will insure a cig.

If you are only concerned with the aspect of towing of the boat, that should be covered under your automotive insurance and an umbrella that covers your automobiles should cover that.

[Playn]

Try Home-Owners Insurance if they do business in your state.

I have Home Owners for the homes, vehicles, and toys with an umbrella which includes the boats.

[Hot for Teacher]

Correct Griff, State Farm doesn't insure the Cig with their boat insurance,
we have a separate policy for it... But the umbrella policy covers the boat after the original boat policy is used....

[Macklin]

State Farm umbrella covers my boat. But they won't insure it...nor will they insure my house now given I'm two blocks from the oceanfront.:mad:

It's cheap insurance if you have the assets to warrant it.

[BBB725]

It's cheap insurance if you have the assets to warrant it.

Make sure you or your agent review all your coverages, a bunch of years ago my snowmoblie insurance covered up to $750,000 and my umbrella started at $1,000,000. If I would have had a large claim that $250,000 gap would have been payed out of pocket if it hadn't been caught:eek:

[Macklin]

Make sure you or your agent review all your coverages, a bunch of years ago my snowmoblie insurance covered up to $750,000 and my umbrella started at $1,000,000. If I would have had a large claim that $250,000 gap would have been payed out of pocket if it hadn't been caught:eek:

What? My umbrella policy tells me what I am required to carry on my general polices. Car is $500K. House is $500K. Boat is $300K. Am I missing something here?

[Offshoredrillin]

I have one with state farm as well...1 mill..181 bucks a year...having it is priceless.

[BDiggity]

Our State Farm rep said we should get one to help cover us in an accident. They wouldnt insure the boat, but the unbrella covers against liability or along those lines with the boat.

[Sydwayz]

I have one through State Farm. I had my boat insured under a different company, and once they validated that the boat's policy met their minimums, they would write the policy. I now have the boat with State Farm too, and its also all covered.

ONLY way to go. $300-ish a year for $2M in coverage I think.

[Seafordguy]

It's cheap insurance if you have the assets to warrant it.

I don't have the assets to warrant it but like to hope I will in the future....

I just don't want a large judgement against me on the off chance something happened that would jeopardize anything in the future. Especially not if there is protection available relatively cheap.

Damn it - I swore to god that I would never contact State Farm again. Looks like I will go back to them with my tail between my legs.

[BDiggity]

I don't have the assets to warrant it but like to hope I will in the future....

I just don't want a large judgement against me on the off chance something happened that would jeopardize anything in the future. Especially not if there is protection available relatively cheap.

Damn it - I swore to god that I would never contact State Farm again. Looks like I will go back to them with my tail between my legs.


We really dont have the assets either. But as our rep put it, if something happens, letigious people see the house, the truck, the boat & automatically try & get more out of you. Like others said, i think we only pay like $150 yr, so i guess its worth having & hope its never needed.

[Spicy]

Same here, I have Allstate for the car, truck, houses and boat, have a 2 million umbrella for around 300 a year(?)..... My lawyer strongly urged me to get one since I have rental property...


Pat

[Macklin]

I have one through State Farm. I had my boat insured under a different company, and once they validated that the boat's policy met their minimums, they would write the policy. I now have the boat with State Farm too, and its also all covered.

How the h*ll did you get SF to write your AT?! It's just baffles me how indiscriminate their underwriters are about which HP boats they will write.

Even with HO's, it's still a big fast cigar boat. They don't like fast cigar boats...or so I'm told by MY SF agent...

But, I'm paying 9 bucks less than you for my umbrella policy. :26:

[Griff]

State Farm has my 32 AT. Underwriting tried to deny it, but my agent got it pushed through. I think a lot depends on how long you've been with them, what else you have with them, the $$$ value and speed of the boat, and more than anything how much power your agent has and how much is willing to go to bat for you.

[Audiofn]

I have one with Amica but it gets reviewed each year. The only reason that they have not dropped me is that I just don't use the boats enough for them to worry that much about it. I do get a phone call each spring however and I have to plead my case....

[Elite Marine]

State Farm has my 32 AT. Underwriting tried to deny it, but my agent got it pushed through. I think a lot depends on how long you've been with them, what else you have with them, the $$$ value and speed of the boat, and more than anything how much power your agent has and how much is willing to go to bat for you.

Agreed. I have 4 cars, a bike, a sled, 3 boats, rental house, personal house, umbrella and personal item policy. They covered my 34 Hustler Cheetah, which they normally wouldnt touch.

[insurancegoddess]

If you are only concerned about the liability arising out of towing the boat and nothing more then it's a simple (however may not be inexpensive) fix. Call your auto carrier, tell them you want to increase your limits to the highest they will offer... most will be $500,000 COMBINED SINGLE LIMIT (make sure you use those words). Some carriers may go up to $1,000,000 on the auto, again, combined single limit if you can.

This will avoid the headache of trying to find an umbrella policy. Hope this helps.

[Ryan8886]

If you are only concerned about the liability arising out of towing the boat and nothing more then it's a simple (however may not be inexpensive) fix. Call your auto carrier, tell them you want to increase your limits to the highest they will offer... most will be $500,000 COMBINED SINGLE LIMIT (make sure you use those words). Some carriers may go up to $1,000,000 on the auto, again, combined single limit if you can.

This will avoid the headache of trying to find an umbrella policy. Hope this helps.


Glad to see you found your way here, Stacy! Thank you for going the extra mile finding me coverage! Appreciate everything! For anyone that doesn't know her, she will go WAY out of her way to make sure you get the best policy at the best price!

[insurancegoddess]

Glad to see you found your way here, Stacy! Thank you for going the extra mile finding me coverage! Appreciate everything! For anyone that doesn't know her, she will go WAY out of her way to make sure you get the best policy at the best price!


I sure did! :) A few lil' birdies told me about this great up and coming performance site. :)

[Tommy Gun]

State Farm has my 32 AT. Underwriting tried to deny it, but my agent got it pushed through. I think a lot depends on how long you've been with them, what else you have with them, the $$$ value and speed of the boat, and more than anything how much power your agent has and how much is willing to go to bat for you.

Agreed; State Farm has both my Cig's, Bass Boat and Sea Doo, all with a $5m Umbrella.

[jeff1000man]

Agreed; State Farm has both my Cig's, Bass Boat and Sea Doo, all with a $5m Umbrella.

It is all about the math. The farm will take some things for some people and not for others.

There umbrella will only take boats that they insure according to my agent.

There are quite a few guys in our club that have their HP boats insured through them, but it is because of the rest of the checks they write every year for the other "NO RISK" business.

[Knot 4 Me]

It is all about the math. The farm will take some things for some people and not for others.

There umbrella will only take boats that they insure according to my agent.

There are quite a few guys in our club that have their HP boats insured through them, but it is because of the rest of the checks they write every year for the other "NO RISK" business.The Farm is also more receptive to underwriting offshore boats in areas where not underwriting them might cost them the rest of the houshold's business. LOTO would be one such area. I have all my policies with them including my boat and a $1.2 mil PLUP that is about to get bumped to $2 mil as my son will get his driver's license this fall.

[Fossil Fuel]

State Farm is insuring my 382 700 nxt fastech. It fits under my umbrella. You need to present it as a "performance cruiser". The fact that it has a genset,TV, VCR, AC, Vac flush toilet sold the cruiser end of the deal.

[LITTLE TOMMY]

state farm also insures everything for me 15 trucks 36apache houses and business!