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  #1  
Old 09-17-2008
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Insurance Costs???

As I make up my spread sheet of costs I am really getting a picture of the "true" costs of living my dream of becoming a liveaboard soon. I keep reading as many of the threads in this forum and others as I can and really appreciate all the great information I get and for free

One question I havent gotten "real" prices on is the cost of insurance. I will be insuring a fairly new boat model yrs 2004-2008 and 35'-38'. Am looking at Catalina's, Hunters and Benetau ==So not real expensive boats. They should be in the 100-140 range. I will be living on the West Coast of Fla. I have a strong boating background. Was an AuxOp in Coast Guard Auxiliary, taught safe boating courses in NJ and have taken Sailing courses 101, 103. I do plan some cruising but nothing crossing oceans just yet. Hope this info helps?

If anyone has something similar situation and would be willing to share their costs for Insurance I would really appreciate it.

Thanks in advance,
turf
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Old 09-17-2008
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You're going to be probably shocked by the cost of insuring a boat. You're in hurricane country... the prices for boat insurance, from what I've heard, has skyrocketed in hurricane country because of the massive losses inflicted by a bunch of fiesty ladies a few years ago.
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Old 09-17-2008
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I just found this link https://secure.unitedmarine.net/Dire...tantQuote2.asp

Instant quote right on the web
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Old 09-17-2008
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At Cape Canaveral, my insurance rates on a boat

valued in the range of what you are looking for have gone from about 1%/year in 2000, when I purchased it used, to about 2%/year after the heavy storm season in 2004.

I do not live aboard, and believe that also affects rates. My coverage area runs from Maine around the coast of Florida to someplace in the Panhandle.

My marina is one of the most protected on the East Coast, as it is a mile behind the Canaveral Locks, off the Barge Canal between the ICW and the Port. It is in a basin with land completely encircling it, except for two small entrances at each end. The eye wall of one of the '04 storms passed virtually over us, and my only damage was one chafed halyard and a stripped screw holding on the wind indicator.

Around 2005 the insurance market really got tight in Florida. I was dropped by a carrier I had for several years, without ever having submitted any claims.

I see you are at Lake Lanier. We spent many fun days sailing on the Lake in the 1980s when I still lived in Atlanta.
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Old 09-18-2008
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nice but....

Quote:
Originally Posted by davidpm View Post
I just found this link https://secure.unitedmarine.net/Dire...tantQuote2.asp

Instant quote right on the web

Their page kind of chokes on a boat older than 1970. (I like the looks of older boats!)

Ken.
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Site doesnt work

Quote:
Originally Posted by davidpm View Post
I just found this link https://secure.unitedmarine.net/Dire...tantQuote2.asp

Instant quote right on the web
I filled out all the information and then it said "Please contact an agent" so guess its just there way to get you to call them.

The sense I am getting is that you have to figure about $ 200.00 a month for insurance on the type of boat I am looking at.

Does that sound reasonable?
Thanks
turf
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Old 09-18-2008
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There is not really a standard coverage like autos so it will vary wildly based on deductable , medical ,liabilty


How things are covered in a sinking for example can be a LOT different
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Old 09-18-2008
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Quote:
Originally Posted by turfguy View Post
I filled out all the information and then it said "Please contact an agent" so guess its just there way to get you to call them.

The sense I am getting is that you have to figure about $ 200.00 a month for insurance on the type of boat I am looking at.

Does that sound reasonable?
Thanks
turf
wow.i pay just a little over that every year.thats more than i pay for my car,house and boat each month.
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Old 09-18-2008
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Again, it really depends on the type of boat, the type of sailing, where you're sailing, the size of the area being covered, the value of the boat, the type of the policy, the features of the policy. My current policy is about $1200 a year. I could have a policy that was only $600 a year, but it wouldn't give me anywhere near the same coverage as the policy I have...or the flexibility.

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wow.i pay just a little over that every year.thats more than i pay for my car,house and boat each month.
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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)

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Old 09-18-2008
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I live in Key West Fl. and pay $1450.00 a year for my Morgan 36 O/I, when I lived in Norfolk VA I payed $225.00 a year, the guy in the slip next to me in Key West has a 44ft CSY and pays $5600.00 a year. so it just depends.
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