Join Date: Apr 2006
Thanked 155 Times in 152 Posts
Rep Power: 12
Re: How do I get insurance and how much does it cost?
The insurance companies ALL play cute with policy exclusions. If they were being honest, they would allow you to read the entire policy before you made any committment, so you could see the exclusions and limits. Instead, they pretty much all require you to take a policy and then read it afterwards. Which means you would have to pay, read it after it comes, cancel, find something else, repeat, while waiting for the refund from the first guy...
IOW they lock you in before you can see what is being omitted.
A good insurance broker will know which ones exclude what, and can guide you past that. If their quote sounds high, there is often a reason for it and they'll have no problem telling you what you've missed.
Some of the "auto" carriers don't have marine claim surveyors, so if your boat is damaged some auto guy is going to look at it, never suspecting that a grounding can mean the entire rudder is also shot, or how a t-bone impact can break lose bulkhead tabbing all the way through a boat, bow to stern.
It isn't just what they omit or exclude, and a good broker should have no problem discussing options and insurer performance.