Boat Insurance - 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 > On Board > Boat Review and Purchase Forum
 Not a Member? 


Reply
 
LinkBack Thread Tools
  #1  
Old 12-17-2008
Old sailor, new member.
 
Join Date: Dec 2008
Location: Atlanta
Posts: 9
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
SailNation is on a distinguished road
Boat Insurance

What are your thoughts on boat insurance? Specialty (Boat/US) company v all purpose insurance company (Progressive)?

Do you know of any web sites or articles that lay out the pros and cons?

Are there areas where you can't get insurance at any price (Galveston?)?
Or it's especially expensive?

Who has the best value? Service?

What are things to watch out for? Exclusions for cruising area, etc.

Thanks.
Reply With Quote Share with Facebook
  #2  
Old 12-17-2008
WouldaShoulda's Avatar
AEOLUS II
 
Join Date: Oct 2008
Location: From The Land of Pleasant Living
Posts: 2,690
Thanks: 3
Thanked 12 Times in 12 Posts
Rep Power: 6
WouldaShoulda is on a distinguished road
On newer or more valuable boats it is more of an issue, less so on old shoes or trailerables.

What do you have and where is it??
Reply With Quote Share with Facebook
  #3  
Old 12-17-2008
sailingdog's Avatar
Telstar 28
 
Join Date: Mar 2006
Location: New England
Posts: 43,291
Thanks: 0
Thanked 9 Times in 9 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 be aware that yacht policies are generally required for boats over 26' LOA, and boat policies usually cover boats under 26' LOA. Also, there are two basic types of policies: Agreed Value and ACV. One gives you much better coverage IMHO than the other.

Other things to consider: Liability, most marinas will require at least $100,000—mine requires $300,000. Towing and salvage coverage—salvage can be really expensive. Environmental remediation—especially if your boat sinks and causes a small oil spill—otherwise the fines and such are pretty amazing.
__________________
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 12-17-2008
Old sailor, new member.
 
Join Date: Dec 2008
Location: Atlanta
Posts: 9
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
SailNation is on a distinguished road
I have a Seidelmann 25 on Lake Lanier (N. GA.) but I'm interested in a coastal boat. I've been looking at old C&C 3X's. ($15k-$25k range)

Just trying to get a handle on what to expect on survey, dock fees, insurance and the cost of money (loan rates). Seems like it should be a good time to buy if associated costs are reasonable.
Thanks.
Reply With Quote Share with Facebook
  #5  
Old 12-17-2008
Admirals fav target
 
Join Date: May 2006
Location: On land unfortunately
Posts: 228
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 9
NCountry is on a distinguished road
For a quick easy way to get coverage you can't hardly beat Progressive. They also cover up to 75 miles off shore. Their policies are fairly comprehensive and they don't require a recent survey. They won't insure older boats for over $20,000.00 BUT you do get the same kind of claims service that they give on auto policies.
Most other specialty carriers (such as Markel) are going to require a recent survey. Last time I checked by new they meant within the last 30 days. Some companies also require that they be allowed to do an out of the water inspection in addition to the survey.
There are a lot of bells and whistles you can add to most polices. Some of the most over looked areas that you should investigate would include how are the electronics covered. On some policies they are considered in the boat value and some companies consider that as personal equipment so you would have to raise those limits to have them covered.
Also, depending on the boat and the company, in addition to agreed value and ACV (actual cash value) you might be able to obtain replacement cost coverage. Through one of the companies I got a quote from they actually offered replacement cost coverage on my 1980 Islander.
If you really want to make the process easier then find an agent that is familiar with insuring boats. They can guide you through the entire list of options that might be available to you. IN FACT, I might begin the quest for a knowledgable agent BEFORE I bought the boat. If you decide to go with a Progressive Agent then you'll discover they handle quite a few different types of polices BUT the Progressive boat polices are really well suited for the possible problems you might have.
The other biggie is don't get frustrated while shopping and just take the cheapest policy. Insurance is just like everything else and you end up getting just what you paid for. Good Luck!
__________________
Cruise me!
Reply With Quote Share with Facebook
  #6  
Old 12-17-2008
Old sailor, new member.
 
Join Date: Dec 2008
Location: Atlanta
Posts: 9
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
SailNation is on a distinguished road
Very helpful info

Thanks for all the good info. I figured there were probably special considerations for coastal boats (like the 75 mile limit). I guess you pay extra if you plan to cruise the Bahamas (or more distant places)?
Reply With Quote Share with Facebook
  #7  
Old 12-17-2008
camaraderie's Avatar
moderate?
 
Join Date: May 2002
Location: East Coast
Posts: 13,878
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 15
camaraderie is a jewel in the rough camaraderie is a jewel in the rough camaraderie is a jewel in the rough
BoatUS will cover Bahamas...many "household insurance" companies will not. Further south than the Bahamas and you need to go with a marine insurance specialist like IMIScorp.net for coverage.
__________________
No longer posting. Reach me by PM!
Reply With Quote Share with Facebook
  #8  
Old 12-17-2008
Admirals fav target
 
Join Date: May 2006
Location: On land unfortunately
Posts: 228
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 9
NCountry is on a distinguished road
Hey Cam. The last time I quoted BoatUS they seemed incredibly expensive for inland waters. How do they compare for coastal or other areas?
__________________
Cruise me!
Reply With Quote Share with Facebook
  #9  
Old 12-17-2008
Senior Member
 
Join Date: Aug 2006
Location: wherever
Posts: 5,253
Thanks: 8
Thanked 16 Times in 15 Posts
Rep Power: 10
xort has a spectacular aura about xort has a spectacular aura about xort has a spectacular aura about
I found Boat US to be pretty competitive for what they offer.

One thing you may find is your experience may change the rates. IMIS wanted a lot more than Boat US because I was new to sailing tho I've been boating for 15 years on smaller power boats. Boat US can be very comprehensive in their coverage packages.

Best answer is to call around and see for yourself.
Reply With Quote Share with Facebook
  #10  
Old 12-17-2008
camaraderie's Avatar
moderate?
 
Join Date: May 2002
Location: East Coast
Posts: 13,878
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 15
camaraderie is a jewel in the rough camaraderie is a jewel in the rough camaraderie is a jewel in the rough
Ncountry...it has been some time since I used them. They were good when I was sailing on the coast and Bahamas and took care of claims VERY well. You have to really sit down and compare the coverage of policies to compare price. I always thought that they were fair.

IMIS sells policies to bluewater cruisers and works with various independent marine insurers to tailor a policy to your needs, experience and cruising grounds. They were "INCREDIBLY good to us after Ivan in Grenada and FAR better than how our fellow boaters were treated by their cheaper policies.
__________________
No longer posting. Reach me by PM!
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
What can you tell from the numbers? brazilnut Boat Review and Purchase Forum 10 07-01-2009 04:09 PM
The Search for the First Boat - long learning curves pmoyer Boat Review and Purchase Forum 45 12-20-2008 01:28 AM
Perils of a Pleasure Boat Insurance. DonQuijotedelMar General Discussion (sailing related) 4 07-12-2007 11:03 PM
The Balance of Hull and Sails Steve Colgate Buying a Boat Articles 0 05-25-2000 08:00 PM
The Right Insurer and the Best Policy Michael J Smith Cruising Articles 0 06-03-1999 08:00 PM


All times are GMT -4. The time now is 08:26 AM.

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