Insurance cost - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest Forums > Boat Review and Purchase Forum
 Not a Member? 


Reply
 
LinkBack Thread Tools
  #1  
Old 03-03-2008
Abysmally Stupid
 
Join Date: Aug 2006
Location: MRE
Posts: 373
Thanks: 1
Thanked 0 Times in 0 Posts
Rep Power: 8
jorgenl is on a distinguished road
Insurance cost

Hello,

I did search old threads for this info but could not find any.

I am hoping to buy a bigger boat somtime in the near future (this year) and am investigating costs.

I just called my insurance agent who quoted me annual insurance of $1,200.00 f(ballpark) or a 40' sailboat, approx year model 2000 and value of $150K.

In your experience does this sound like a reasonable figure?

To me it seems a bit cheap. My current 30 footer which is insured for a value of $40K costs about $650.00 p.a to insure...

Thanks / Jorgen
Reply With Quote Share with Facebook
  #2  
Old 03-03-2008
Freesail99's Avatar
Senior Member
 
Join Date: Feb 2006
Location: New Jersey
Posts: 4,507
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 9
Freesail99 will become famous soon enough
Send a message via Yahoo to Freesail99
Call BoatUS for a price and compair them.
__________________
S/V Scheherazade
-----------------------
I had a dream, I was sailing, I was happy, I was even smiling. Then I looked down and saw that I was on a multi-hull and woke up suddenly in a cold sweat.
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #3  
Old 03-03-2008
sailingdog's Avatar
Telstar 28
 
Join Date: Mar 2006
Location: New England
Posts: 43,291
Thanks: 0
Thanked 8 Times in 8 Posts
Rep Power: 13
sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice
It really depends.. what geographic area you're sailing in, whether the policy is an AGREED VALUE or ACTUAL CASH VALUE policy, what kind of coverage you have and about a dozen other things... It does sound a bit on the low side to me for an Agreed Value policy for that much coverage.
__________________
Sailingdog

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Telstar 28
New England

You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.

—Cpt. Mal Reynolds, Serenity (edited)

If you're new to the Sailnet Forums... please read this
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.

Still—DON'T READ THAT POST AGAIN.
Reply With Quote Share with Facebook
  #4  
Old 03-03-2008
teshannon's Avatar
Senior Member
 
Join Date: Aug 2006
Location: Philadelphia
Posts: 2,713
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 10
teshannon has a spectacular aura about teshannon has a spectacular aura about teshannon has a spectacular aura about
I have an Agreed Value Policy for a 42' boat costing slightly less than your $150k. Costs me about $1,300 a year. It will go up however when I move the boat from the bay to the coast.
Reply With Quote Share with Facebook
  #5  
Old 03-03-2008
Abysmally Stupid
 
Join Date: Aug 2006
Location: MRE
Posts: 373
Thanks: 1
Thanked 0 Times in 0 Posts
Rep Power: 8
jorgenl is on a distinguished road
Sorry, forgot to mention location is Chesapeake Bay.

I think my current policy on the 30' boat is restricted to the Bay only, no offshore. Probably just as well
Reply With Quote Share with Facebook
  #6  
Old 03-03-2008
SailorMitch's Avatar
Senior Moment
 
Join Date: Nov 2005
Location: MD
Posts: 1,931
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 9
SailorMitch will become famous soon enough
Yes, call around to compare. SpinSheet has ads for several boat insurers.

One note on your current policy with the bay restriction -- you can get a rider to change that for a specified time if you want to cruise outside of the bay. Just takes a phone call. When I did it about 5 years ago the cost was something like $25. I did a Delmarva circumnavigation.
__________________
SailorMitch
Sailing winged keels since 1989.
1.20.09 Bush's last day the end of an error !! Hopefully we still have a constitution and economy left by then.


"Compassion and tolerance are not a sign of weakness, but a sign of strength." The Dalai Lama


good planets are hard to find-- a song by steve forbert


I have but one lamp by which my feet are guided, and that is the lamp of experience. I know no way of judging the future but by the past.-- Patrick Henry.
Reply With Quote Share with Facebook
  #7  
Old 03-03-2008
Abysmally Stupid
 
Join Date: Aug 2006
Location: MRE
Posts: 373
Thanks: 1
Thanked 0 Times in 0 Posts
Rep Power: 8
jorgenl is on a distinguished road
All,

Thanks for all your help.

It seems that $1,200 is in the ballpark which is really all I wanted to know at this time. I honestly thought it would be a lot more expensive, maybe $2-3k or so.

I will definetely call around and compare when the time comes.

SailorMitch, thanks for the tip to extend coverage to outside the bay, the DelMarVa circ is something I would like to do one day.

Thanks again.
Reply With Quote Share with Facebook
  #8  
Old 03-03-2008
teshannon's Avatar
Senior Member
 
Join Date: Aug 2006
Location: Philadelphia
Posts: 2,713
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 10
teshannon has a spectacular aura about teshannon has a spectacular aura about teshannon has a spectacular aura about
Smile

If you want to pay more than $1,200 I'll take a personal check!
Reply With Quote Share with Facebook
  #9  
Old 03-03-2008
sailingdog's Avatar
Telstar 28
 
Join Date: Mar 2006
Location: New England
Posts: 43,291
Thanks: 0
Thanked 8 Times in 8 Posts
Rep Power: 13
sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice
Just to give you an example... a friend's boat is insured at $118,000 and has coverage similar in geographic area as mine... Northern Maine down to North Carolina, and their policy is about $1300... Even though the quote you have gotten is for a higher agreed value, the more limited geographic coverage drops the price a bit. I would be interested to hear how much a policy covering most of the east coast would be for your boat.
__________________
Sailingdog

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Telstar 28
New England

You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.

—Cpt. Mal Reynolds, Serenity (edited)

If you're new to the Sailnet Forums... please read this
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.

Still—DON'T READ THAT POST AGAIN.
Reply With Quote Share with Facebook
  #10  
Old 03-03-2008
theartfuldodger's Avatar
Senior Member
 
Join Date: Sep 2006
Posts: 278
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 8
theartfuldodger is on a distinguished road
Send a message via Skype™ to theartfuldodger
I live in Canada, east coast and sail all year in winter as well, althought the boat is a 1974 Morgan O/I, its replacement cost is insured for 145,000, after the survey which the insurance company wanted. The cost of this policy was 265.00 last year this year there is a 10 dollar increase. Wondering why its so expensive it seems in the US as my under writer is an Amercian company.
__________________
Brake Free
Lake Ontario
42 CC Passage
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Perils of a Pleasure Boat Insurance in Spain DonQuijotedelMar General Discussion (sailing related) 10 07-24-2007 10:05 PM
Perils of a Pleasure Boat Insurance. DonQuijotedelMar General Discussion (sailing related) 4 07-12-2007 11:03 PM
small and comfortable and bluewater.... can it be done jasonwillis711 Boat Review and Purchase Forum 9 07-11-2007 11:49 AM
Pleasure boat insurance in Spain DonQuijotedelMar General Discussion (sailing related) 0 07-07-2006 03:56 PM


All times are GMT -4. The time now is 05:17 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012