Refused Insurance

[rwmiller56]

I have my boat & trailer insured through State Farm, who also handles my homeowners policy. This is a separate boat policy. The boat is insured for $30,000, and the trailer for $3000.

Be careful when comparing policies. They are not all created equal, and it is difficult to compare based on price alone.
Some companies, like Boat US, will only insure the boat for the NADA value, which in the case of my 2005 26M is about $16K. There is absolutely no way that amount could even come close to covering a replacement boat of the same year, the motor AND all the accessories that I have accumulated over the years of ownership.

Also, be sure to check WHERE the policy will cover you. Mine covers the entire US & Canada, plus coastal Pacific from Alaska to Ensenada, Baja, Mexico, out to 75 nm. When I was researching policies, some would only cover San Francisco Bay, and 25 nm outside the Golden Gate. Although those are my home cruising grounds, this policy wouldn't cover me if I decide to trailer the boat somewhere.
Boat US also has a "yacht" policy, which could be written for a fixed replacement value of $30K, but would only cover me in SF Bay and the near shore waters of the Pacific. No coverage if trailering to other locations. Again, this did not meet my needs.

I'm not trying to endorse or reject any particular companies. Just saying that you need to look at the coverage closely to see if it meets your needs.

Roger