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  #11  
Old 02-02-2013
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Re: How do I get insurance and how much does it cost?

I simply filed online with BoatUS and they sent me a quote/policy. All I have to do is sign it and send a check.
No comprehensive, 'cept for like 500 in pers belongings and the rest in liability... near 900K in oil/hazardous cleanup, tho!
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Old 02-10-2013
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Re: How do I get insurance and how much does it cost?

Is there something wrong with mentioning good carriers or agents people have had good experience with? It sure would help in the search.
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Old 02-10-2013
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Re: How do I get insurance and how much does it cost?

Quote:
Originally Posted by Fau View Post
Is there a way to get insurance without pulling the boat out of the water? I have an old 27' O'Day that i didnt spend a whole lot of money on. Id like to ensure it but without incurring a huge cost.
I insured my 1978 Cal 2-27 (27') with BoatUS, and they required a survey but did not require the boat to be hauled for the survey (ie, an "in-water" survey.)
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Old 02-10-2013
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Re: How do I get insurance and how much does it cost?

I just recently insured my boat for "Agreed Value" through BoatUS

When applying for the insurance, I listed the actual price I paid for the boat, but asked to insure it for quite a bit more.
They came back, questioning why the delta. I explained that the boat was in pretty bad state when I bought it and that I spent quite a lot of money getting it in the current shape (boat physics...black holes..)

They said Great, no problem, but please send us the yard bills.

Well, I don't have yard bills, as I did all the work myself.

Here it became a little more tough - They explained that they will except receipts for all the replaced / new equipment I've added, but that labor can not be included - I guess my own labor have zero value....

Well, and here's a lesson for all that work on their own boats - I didnt keep most of the receipts.
I documented in my boat log anything I bought for the boat, but only in my own writing.

They were not happy with this and at first kind of said - Sorry we cant help...

I ended up documenting via photos everything I did on the boat - luckily I did take tons of pictures and videos as the work progressed.

Submitting the photos combined with the list of equipment I bought (with prices), they finally accepted the stated value, and proceeded with issueing the insurance.

Although it was a little bit of an effort (due to my own mistake by not keeping receipts), they generally were good working with, and their quote was quite a bit lower than everyone else I tried.
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Old 02-11-2013
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Re: How do I get insurance and how much does it cost?

I've always used Progressive because they've been affordable (multiple policy discount for auto too) and easy to work with. However, I've also heard good things about BoatUS and a few other specialty companies. You can find more info and links to several companies offering boat insurance at InsuranceForBoats.org.

Should be plenty of good anecdotal stories available about good and bad boat insurance in the wake of hurricane Sandy.
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Old 02-11-2013
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Re: How do I get insurance and how much does it cost?

I own a 1979 AMF Paceship PY26 and I live in Jacksonville, FL. I just received a quote from my Geico lady who shopped around my policy to a bunch of marine affiliates and received a quote of 168.93 for the entire year.
However, I got this quote on a Friday this past. There was a stipulation regarding the policy that stated I needed an 'out-of-water survey' to be completed before I could get it. Well, I only spent $2900 on the boat and never got a survey done but since I had practically rebuilt the thing and documented it on photobucket and with marina invoices the Geico lady thought I had a good shot at them allowing me to complete a 'self-seurvey form.' Anyway, since it was Friday early afternoon when I called I did not get a reply back from the marine insurance people regarding the survey hindered so I am waiting right now for a call back today to find out the results-- So just expect the policy to be relatively cheap for a bare minimum liability and pollution and uninsured boaters whatnot but also expect any insurance agent to want a survey to be done on your boat or that HAD BEEN DONE IN THE PAST 30 DAYS***
So, I would think you would be looking at under $200.00 plus the cost of survey unless you can get them to let you do a self-survey instead. I will let you know my results.
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Old 03-17-2013
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Re: How do I get insurance and how much does it cost?

Did you get your results? Geico said if the boat is under 25 feet no survey needed, I'm looking at alot right in that range. I do not want to pay for a survey, do you know of any other companies that don't require a survey for liability only in case I get a 27?
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Old 03-17-2013
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Re: How do I get insurance and how much does it cost?

Be very careful with Geico. They are reputed to reduce coverage in ways the average consumer doesn't understand, in order to reduce rates. You see the same limit as the next guy, but your's may not apply to all the same events as theirs. (Have you ever seen the Mayhem commercials that say "your cut rate insurance may not cover this"? That's what they are trying to say, without naming Geico directly) You learn when you have a denied claim after paying all that money.

Cheap insurance is almost always cheap for a reason. I always recommend using and agent/broker that has access to several different insurance companies and can explain the differences in coverage so you can make an informed decision. All cruising grounds will have someone experienced in marine insurance.
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Old 03-17-2013
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Re: How do I get insurance and how much does it cost?

I already posted earlier in this thread on how State Farm handles the survey. My agent requires a survey if the agreed upon value is over $25k, does not require a survey if it is lower. I don't think that length comes into that equation, only boat value, but I didn't ask specifically.

There have been other threads where there were concerns over what State Farm covered on boat insurance. I can only say that I've read my contract and feel like I'm pretty well covered, everyone should do this for their own boats and coverage.

I used State Farm because they also cover my house and car and they gave me the best rate as a result.
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Old 03-17-2013
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Re: How do I get insurance and how much does it cost?

The insurance companies ALL play cute with policy exclusions. If they were being honest, they would allow you to read the entire policy before you made any committment, so you could see the exclusions and limits. Instead, they pretty much all require you to take a policy and then read it afterwards. Which means you would have to pay, read it after it comes, cancel, find something else, repeat, while waiting for the refund from the first guy...
IOW they lock you in before you can see what is being omitted.

A good insurance broker will know which ones exclude what, and can guide you past that. If their quote sounds high, there is often a reason for it and they'll have no problem telling you what you've missed.

Some of the "auto" carriers don't have marine claim surveyors, so if your boat is damaged some auto guy is going to look at it, never suspecting that a grounding can mean the entire rudder is also shot, or how a t-bone impact can break lose bulkhead tabbing all the way through a boat, bow to stern.

It isn't just what they omit or exclude, and a good broker should have no problem discussing options and insurer performance.
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