insurance price variation between companies
I've found a boat I'm interested in, and it's a 1979, so finding insurance has been a bit tricky. I was eventually able to convince BoatUS to cover me (they didn't like the age, but their bigger problem was the boat is 37' and it's going to be my first boat), and they quoted me $1819/yr. This is their base east-coast plan, $300k liability, etc. I then went in search of alternatives, and contacted IMIS, who got me a quote through Windsor-Mount Joy Mutual Insurance Co. They quoted me $774/yr for their "skipper" policy. The deductible is about $600, compared to $1300 for BoatUS, and there is no separate oil spill liability (BoatUS offers $800k, with the other one is rolled into the $300k liability coverage). The only other difference I can see if that BoatUS will let me sail the east coast as far south as Florida, whereas the other one will only allow me as far south as North Carolina.
Does anyone have any familiarity with these policies that might be able to point out some major difference I haven't noticed? Any thoughts on why the premiums are so drastically different? Does Windsor-Mount Joy Mutual Insurance Co have a good reputation? I'm going to have my boat broker look the policy over, but I'd like some outside input too. Thanks.