Best Boat Insurance Companies? - SailNet Community
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post #1 of 20 Old 08-30-2013 Thread Starter
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Best Boat Insurance Companies?

I'm shopping for boat insurance for an older (1969) sailboat. The boat is worth less than $5,000, so I'm looking at a bare bones policy to satisfy the marina requirements. I've gotten quotes from Progressive ($111 per year) and BoatUS ($130 per year). I'm tempted to go with BoatUS based on the fact that they are limited to boats whereas Progressive insures just about everything and may not respond as well as a company whose sole business is boat insurance. Am I right? What has been your experience with different insurance companies?
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post #2 of 20 Old 08-30-2013
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Re: Best Boat Insurance Companies?

Geico...for a boat value that small, just get liability only. Should be $100 a year or so.

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post #3 of 20 Old 08-30-2013
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Re: Best Boat Insurance Companies?

Most home owner policies let you add a rider for small boats. That would likely be the cheapest option.
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Re: Best Boat Insurance Companies?

I'm in the same situation and got a quote from BoatUS. They quoted me around the same price but the quote said they wanted a survey. Called and asked if I could be insured without a survey and they said no. So if you haven't/don't want one done, then BoatUS isn't an option.
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post #5 of 20 Old 08-30-2013
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Re: Best Boat Insurance Companies?

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Originally Posted by ericb760 View Post
...I'm tempted to go with BoatUS based on the fact that they are limited to boats whereas Progressive insures just about everything and may not respond as well as a company whose sole business is boat insurance. Am I right? What has been your experience with different insurance companies?
When I had a small boat, it was covered under the homeowner's policy. It was built in 1972 and Boat US would not insure a boat that old.

When I was shopping for a larger boat, the insurance company who insures our house suggested not using them since they don't do a lot of large boat policies and it would be more expensive than BoatUS. The next one I checked with didn't (to me) ask the right questions so I wasn't comfortable taking a risk that they wouldn't honor the policy if I had a claim, or, that they'd put up a fight.

I decided on BoatUS. They pay for divers if one is needed for a claim as well as paying half the cost to haul for any named storm. I didn't think the cost was unreasonable. I haven't had to submit a claim, but I also heard that they are very easy to deal with.

Donna



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post #6 of 20 Old 08-31-2013
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Re: Best Boat Insurance Companies?

Insurance is regulated by State. Even with the same carrier, experiences and cost can differ by State, so beware of leveraging others experiences.

I've not used BoatUS, but I would have thought they are just an agent for another carrier. They may have negotiated a proprietary product, but didn't think they were really in the insurance business.

p.s. I hate the entire Geico model. They often save the consumer money by limiting coverage you're not aware of. Total lack of integrity, which is an acid test for who I do business with.


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post #7 of 20 Old 08-31-2013
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Re: Best Boat Insurance Companies?

If the boat is under 26 feet, you can get liability under your homeowners policy. I've had Progressive for the last 4 years and had two claims due to storms. I am very happy with their claims service.
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post #8 of 20 Old 08-31-2013
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Re: Best Boat Insurance Companies?

I agree with Jim. I had Progressive on our C25 which was totaled in Sandy. They paid us quickly (relatively speaking...but there was a lot of damage), and were ready to underwrite our new boat without giving us a problem. They wrote the policy for the surveyed value, and gave me a decent price. I also tried to get an estimate from BoatUS. They wouldn't write the policy for the surveyed value, only for what we paid for it, and they wanted more money than Progressive. So, I stayed with Progressive.

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post #9 of 20 Old 08-31-2013
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Re: Best Boat Insurance Companies?

We have a '75 Bristol 24 and went with BoatUS. No survey was required, but maybe that's because the insurance value is what we paid for the boat.

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post #10 of 20 Old 09-03-2013 Thread Starter
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Re: Best Boat Insurance Companies?

I went with Progressive and added their towing package, just in case. $136 per year spread over 4 payments. Seemed reasonable...
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