The Secret Priorities of Boaters
Survey by leading boat insurer, Progressive, reveals boaters put their vessel ahead of major milestones in their lives and are happier for it
MAYFIELD VILLAGE, Ohio — April 17, 2008 — Are you worried about the value of your home or the cost of your daily commute? Well, maybe its time to rethink your priorities. In a recent survey of more than 1,000 boat owners conducted by Progressive, a leading boat insurer and the number one seller of personal watercraft insurance in the country, nearly half of boaters surveyed said they bought their boat before they purchased a car or a home.
The result is some pretty happy boaters. While some may believe a "boat owner's two greatest days are the day he buys his boat and the day he sells it," most boaters surveyed (38 percent) disagree. In fact, 66 percent of boaters say they "love boating" and describe their overall experience as "smooth sailing." One in four boaters surveyed even said their biggest worry was simply finding time to use their boat.
So what could be behind all this glee? It seems that many boaters surveyed got into boating during more carefree times in their lives. Nearly a third of boaters surveyed said they bought a boat before they got married (28 percent), had children (30 percent) or even graduated college (19 percent).
Unfortunately, the carefree nature of boaters surveyed may be affecting their practical side. While 70 percent of boaters say they know they should have insurance, even in the off-season, 29 percent admit to having no boat insurance at all.
"A great experience with your boat can quickly turn bad if you're not properly insured," said Progressive's Dominic Mediate. "Things like 24/7 claims service and specialized coverages such as Emergency Towing and Labor and Total Loss Replacement are designed to help get boaters back on the water fast in the event of a loss."
And you better believe that boaters are not so willing to give up the good thing they have going. Twenty percent of boaters said that they would NEVER sell their boat and six percent went as far as to say they would only sell if threatened with physical harm.
The allure of the water also seems to create a kinship and loyalty among boaters. So much so that 15 percent of boaters say they're more likely to vote for a political candidate if he/she is a boater. This is especially good news for the GOP, as Republicans are more likely to vote this way (19 percent) compared to Independents (16 percent) and Democrats (15 percent).
For more information, go to www.watercraft.progressive.com.
About Progressive
The Progressive Group of Insurance Companies, in business since 1937, is the country's third largest auto insurance group and largest seller of motorcycle and personal watercraft policies based on premiums written, and is a market leader in commercial auto insurance.
Progressive is committed to becoming consumers' #1 choice for auto insurance by providing competitive rates and products that meet drivers' needs throughout their lifetimes, superior online and in-person customer service, and best-in-class, 24-hour claims service, including its concierge level of claims service available at service centers located in major metropolitan areas throughout the United States.
Progressive companies offer consumers choices in how to shop for, buy and manage their auto insurance policies. Progressive offers its products, including personal and commercial auto, motorcycle, boat and recreational vehicle insurance, through more than 30,000 independent insurance agencies throughout the U.S. and online and by phone directly from the Company. Private passenger auto products and prices are different when purchased directly from Progressive or through independent agencies. To find an agent or to get a quote, go to www.progressive.com.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at NYSE:PGR.
###
Dominic Mediate is available for interview.
Did You Know ...
According to a countrywide survey of boaters conducted by leading boat insurer, Progressive
I ♥ My Boat
Life's about priorities
Nearly a third of boaters surveyed say they bought a boat before they got married or had children (28 percent and 30 percent, respectively). Those surveyed also bought a boat before they:
- Bought a car (14 percent)
- Bought a home (31 percent)
- Graduated college (19 percent)
The seas aren't always calm
Boat owners describe their overall experience as:
- Smooth sailing — I love boating (66 percent)
- A little choppy — I have some good days and some bad days (33 percent)
- Rough and stormy — Boating is a major stress in my life (1 percent)
It sure looks better than the plastic deer
One boater admitted to never using his/her boat, while another claims to use it as a lawn ornament.
Home sweet…boat
More men than women would prefer to buy yet another boat rather than buy a home (43 percent versus 30 percent, respectively).
No pain, no gain
More boaters disagree (38 percent) than agree (27 percent) with the old adage "A boat owner's two greatest days are the day he buys his boat and the day he sells it."
Where does all the time go?
One in four boaters (26 percent) surveyed say finding the time to use their boat is the most stressful part of boat ownership. The cost of owning and operating is most stressful for 22 percent of boaters. More than a third (36 percent), though, doesn't find boating to be stressful at all.
Boating Economics
I don't wanna sell my boat!
While 20 percent of boaters would never sell their boat and 6 percent would only do so if threatened with physical harm, others say they would sell their boat if they couldn't afford it any more (35 percent) or were offered a good deal for the boat (30 percent). Interestingly, 5 percent would only sell if asked to do so by their spouse.
Testing the waters
Nearly twice as many boaters bought their first boats used versus new (66 percent versus 34 percent, respectively).
Trading-up
The majority of boaters (77 percent) who sold their first boat did so to upgrade to a newer/better boat. Other reasons people sold their first boat include:
- Didn't use it enough (8 percent)
- Moved and couldn't use it anymore (8 percent)
- Had children (4 percent)
- Got married (3 percent)
I boat and I vote
Loyal Boaters
Fifteen percent of boaters say they're more likely to vote for a political candidate if he/she is a boater. Republicans are more likely to feel this way (19 percent) compared to Independents (16 percent) and Democrats (15 percent).
Sex and politics
Men are two times more likely than women to say they're more likely to vote for a political candidate if he/she is a boater (20 percent versus 9 percent, respectively).
Independent in voting…not boating
Boaters who identify their political affiliation as Independent are two times more likely to sell their boat if asked to by their spouse, compared to Republicans and Democrats (11 percent versus 5 percent and 4 percent, respectively).
Navigating Boat Insurance
On-water protection beyond lifejackets and sunblock
Though 70 percent of boaters say they know they should have insurance even during the off-season, 29 percent admit to having no boat insurance at all.
Pricing … standard?
Ten percent of boaters think all boat insurers charge the same rates, while 35 percent aren't sure.
Service with a smile?
Nearly half of boaters say their insurance companies don't reward them if they go 12 months without reporting a claim.
Reward for good behavior?
Ten percent of boaters think all boat insurers charge the same rates, while 35 percent aren't sure.
Safety first on the high seas
Twenty-six percent of boaters have taken a boating safety class in the past three years. Almost twice as many saltwater boaters have taken a course (40 percent) compared to freshwater boaters (22 percent).
###
