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lewharve 04-21-2012 03:37 PM

we found a boat and had a survey but the insurance quotes have been outragous more than a car. why

CaptainForce 04-21-2012 03:51 PM

Re: Insurance
Full coverage? A wood boat? ...In Florida during hurricane season? An old boat? What is outrageous?
I would likely agree, as I have a 1973 boat with Florida registration and was quoted a cost of 8.5% the value of my boat/year; therefore, I carry liability only. Take care and joy, Aythya crew

fmueller 04-21-2012 08:34 PM

Re: Insurance
Speaking of insurance...

Do most Marina's require both liability and Hull insurance? Or is liability only generally sufficient? I can understand the liability piece, but why would they require the Hull insurance?

Does anyone even write Hull insurance policies for 40 year old boats with really low value? My boat was free (to me) so I can't really imagine spending a lot of money on hull insurance (or even a survey which I think is required for most hull insurance, right?)


Squidd 04-22-2012 09:51 AM

Re: Insurance

wingNwing 04-22-2012 10:04 AM

Re: Insurance
The other factor besides cruising area that will hugely affect the cost of your insurance is your sailing resume. Documented training courses? Boat-owning history?

I'd assume most marinas are more interested in your liability than your hull coverage (if your boat is damaged that makes it your problem, they only care about damage you do to others or to their docks) but I can't say that definitely since we have both insurances - this boat is our only home.

lewharve 04-22-2012 11:24 AM

Re: Insurance
the boat is a 1980 CAL 39 and we will keep it in fla this year. as we work for FEMA during hurrican season we can put it up. but we plan to sail at least to philly next year. so if I just carried liability it would be less than a grand do you think?
if you live abord at least 51% of the time, FEMA will help to repair the boat if it is in a declared disaster.

MarkSF 04-22-2012 12:22 PM

Re: Insurance
Having got boat insurance for the first time last year, I can tell you the quotes were all over the map.

Two suggestions : Boat US, and State Farm.

hellosailor 04-22-2012 01:58 PM

Re: Insurance
lew, your insurance rate will depend on your own credentials, past ownership of similarly sized vessels, years of experience, geographic location, sailing areas covered, and almost anything else that can be used to identify you as a potential risk, including credit history, past employment, and having a home on land or being a vagrant. (So to speak.)

When in doubt ASK your insurer what criteria are being used and if you can do anything about them. A real broker can give you answers. Sometimes taking USCG Aux or USPower Squadron classes--or joining the organization--can get you a better rate.

But if it is your first time owning a large boat, and it is an older boat, and you have no home on land, and you're in hurricane country....Yeah, that may cost you.

MarkSF 04-22-2012 05:51 PM

Re: Insurance

Originally Posted by sidney777 (Post 861840)
I've seen no ryme or reason for insurance in marinas. Some marinas use ins. requirement to keep certain people out. Some of best marinas in panhandle Florida and Alabama did not require ins. (I have State Farm). Boat US wanted a take out of water survey this time, but not 6 yrs ago!.... One marina had a boat catch fire and now wants LIABILITY INS. In my experience; marinas only wanted liability ins. Also, none of them KNEW if they wanted Full coverage ins (strange but true). I'm sure some know.

Sounds like my experience with Boat US... the survey I'd just had done wasn't "detailed enough" so I'd have needed another out of the water survey. This was after I used a surveyor on their approved list. Been with State Farm for 2 years now, no problems.

joethecobbler 04-22-2012 06:32 PM

Re: Insurance
insurance= gov't backed extortion.
ever been to Vegas ? the favorite phrase is "insurance is for suckers"
But if you must, you must.
Last time I checked Progressive will offer liabiity w/ no haul out or survey quoted me $500 for a 30 + year old 32' FRP sailboat, a year or two back.
I also stayed a couple months at a marina in Fl. that "required liability" , although I had none at the time it was overlooked, the dockmaster basically told me he uses it as a reason to weed out the undesirables.
As with most things in life , its who you know and who you get along with.
Great when it goes your way.
Anchoring is much more pleasurable, and much more economical.

have fun, if your not, what's the point ?

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