The coverage looks OK, but you don’t say what the quote was for. If you’re paying $50, it’s a great deal. If you’re paying $5,000.00, maybe it isn’t so hot. It also depends a bit on what the boat is worth. Did you pay $280,000 for a ten year-old 38’ sailboat? Sounds high - like they’re anticipating fraud or never expecting to have to pay out the limit -- perhaps only a percentage of it (like 50%?) Do deductibles for a trailer
and boathouse make sense in your situation?
I just paid our yearly insurance bill: $1500. It covers the agreed value of the boat: $30k (it’s almost 40 years old, so we pay an extra $357 to waive depreciation), $10k in personal effects, $2k for towing, $500k for liability, $939k for pollution, $25k for medical
, and $500k for uninsured boaters. More than 50 years of experience including about 30 with this boat also go into the equation. Hope this is helpful.