Boat Insurance

[wolf5150]

Insured has primary home in one state and secondary in another, he is buying boat and it will be moored in state of secondary home. Under which state should boat be insured under?

 

[Markthebroker]

Wow, the way this was worded, it sounds like it was taken right out of the state licensing exam.

I would say find out where the boat is registered, and ask the underwriter.

You may get a better answer from someone else.

 

[wolf5150]

Lol, that's what too many conversations with UW's do to you. That being said, I've had several inconsistent answers from UW's these days on a variety of topics, sooooo.......

 

[adjusterjack]

It would help to know the name of the state that the boat is located in. But my educated guess is that the state where it's located is likely to require that the boat be registered in that state. Which, in turn, means that it should be insured in that state.

Look up the boat registration laws in the state where the boat is located and that should answer your question.

Why is this an issue?

 

[wolf5150]

It'll be moored in Wisconsin, on lake where insured has his secondary home. He lives in Illinois.

 

[Markthebroker]

Lol, that's what too many conversations with UW's do to you. That being said, I've had several inconsistent answers from UW's these days on a variety of topics, sooooo.......

Oh, I hear you. Just be careful you don't get too much in the habit of speaking like that because you want to speak plain English with the customers. Especially with me, dealing with so many blue collar people, I gotta keep it simple.

Anyways, as far as the underwriting, if it was me, I'd get the registration information, then get it in writing how the underwriter wants you to quote it, then quote it with each carrier how they want it to be submitted. It's entirely possible different carriers ask it to be quoted different ways.

 

[wolf5150]

Oh, I hear you. Just be careful you don't get too much in the habit of speaking like that because you want to speak plain English with the customers. Especially with me, dealing with so many blue collar people, I gotta keep it simple.

Anyways, as far as the underwriting, if it was me, I'd get the registration information, then get it in writing how the underwriter wants you to quote it, then quote it with each carrier how they want it to be submitted. It's entirely possible different carriers ask it to be quoted different ways.

Makes sense.

 

[Allen Trent]

Lol, that's what too many conversations with UW's do to you. That being said, I've had several inconsistent answers from UW's these days on a variety of topics, sooooo.......

UW are many times not licensed & only know eligibility to get written, not policy language or how claims get paid. Claims reps can be better to ask coverage questions

 

[Lloyds of Lubbock]

As a boat owner I can only tell you my experience.
For years I kept my boat in Merritt Island Florida.
I moved it to Miami and informed the insurance company.
The rates doubled.
I still lived in Orlando at the time but the company said the rates were based on where the boat is kept.

 

[adjusterjack]

It'll be moored in Wisconsin, on lake where insured has his secondary home. He lives in Illinois.

All motorboats, and sailboats over 12' long, have to be registered in Wisconsin with the Department of Natural Resources.

Boat registration and titling | Wisconsin DNR

The insurance will be based on the location where the boat is moored and used. However, I found no statutory requirement for boat liability insurance in Wisconsin.

If you (an Illinois agent) can get him a policy with one of your Illinois carriers on a boat in another state, good for you. If not, he will have to get his own boat insurance in Wisconsin.