G owners - Insurance, how much are you paying per year?

[swankster]

Who are good companies to look at umbrella policies through? Do these policies cover property, or just injury?

The first place to go is your agent that covers your home, car or boat, as the umbrella carrier will need some of that policy information. If you are your own agent then call the companies you are currently with and get quotes from them.

As to who is the best, it depends on how you want to rate them. There are several independent companies that rate the financial strength of companies, A.M. Best, Fitch, Moody’s and Standard & Poor’s. You want one that has a good rating so you know they are capable of paying their claims. There are also web sites that give you info on claims processing but I'm not sure how independent they are.

[kneebrdr]

I have my Umbrella through local agent that covers all my policies, the umbrella is through Erie and does cover property damage.

[peternajim]

I called Progressive and they do not cover boats with engines about 500HP since they are considered too "dangerous". So if you have a 550, you may need to go to a marine specific insurance carrier..for more money I bet.

[kodiak]

I had to go with Seaworthy which is Geico Marine insurance for my G21 with a 550. I pay around 850.00.

[peternajim]

Progressive quoted me $1107 for a G23 with a 450. They wouldn't quote one over 500hp as noted above..."too Dangerous".

[Kenv]

Pete...seems kind of high with that Progressive quote since you are "under 500hp" Is that due to West Coast? I've got a 15 G21...year newer then your's...with a 409...only 41 hp difference and i'm paying $671 a year with Progressive in Texas.

[peternajim]

Thats quite a difference! I just called Geico and got about the same quote. What are the details of your policy? Mine are 100k,300k 50k for liability to others, 10k, 300k for uninsured boater, agreed value is $106K including trailer, deductibles are at $750 and personal effects at $4000.

[Kenv]

I am 100k, 300k liability ...but only 100k uninsured Boater combined single limit each accident, agreed value 135,000 including trailer, deductibles are 750 and personal effects at $1000. Boat is also under my umbrella coverage with my home and autos...which are with State Farm.