the Cost of Boat Insurance

I only purchased liability insurance. I have bodily injury and property damage of 10/20/10. I did not purchase comprehensive and collision coverage because I don't need it for that old a boat. This was the minimum coverage that they offered. I could have purchased up to 250/500/250, but I thought that was a little excessive.

I had to file a claim four months after I purchased the policy. In experienced friend of mine hit the pier where we were docking. It did more damage to the pier than my deductible so I called the insurance company claim department. They sent an adjustor the next day and he met with the owner of the pier. They agreed on a price and the dock owner had a check that same day.

Call around to get quotes. When I bought the boat, I first called my insurance agent where I have my auto insurance and homeowners insurance. The price he quoted with his company was almost $800. He suggested a couple of companies to call and told me to talk to other boat owners where I dock mine and see who they are using. Rates differ greatly from company to company.