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Got a quote from Boat US for a boat we're thinking of buying, and felt it was high. The sailing area to begin with would be Fl Gulf coast. Any other companies recomended ?
Just be careful... some insurance companies that don't really understand what a yatch policy should be will sell you insurance, but it won't have coverages for things that are very boating specific... like salvage costs in the case of a salvage operation, like clean up and remediation costs in the case of a fuel spill. Also, many non-marine specific insurance companies will not sell you an "agreed value" policy, but an "Actual Cash Value" policy, which is less than useful for many.
With an "agreed value" policy, the boat is covered for essentially an agreed amount...which is usually considerably higher than it's actual cash value in the case of a newer boat... and things like stolen electronics are paid for at the replacement cost, rather than the "actual cash value", minus your deductible.
When you compare quotes, make sure you're comparing apples to apples...
I've had Boat US for my domestic insurance company for more than 5 years, along with the towing service. I've found their rates competitive, and their customer service above par. Only drawback is the club dues.
talk to Jim Muller at International Marine Ins. Sys. my quote from Boats U.S. was about 1400.00+- the co. i started with was 986.00+- Nat. Marine Underwriters. then the folks at ssca told me about IMIS i now have a policy with them for 925. in the n.east. the reason i switched from Nat. is that their carrier dropped me because of the age and length (our was to long/big) boat (1979-37') IMIS has a helmsman policy that will allow you to change your policy with a phone call to go cruising where other cos. want to write a new policy. regards
Practical Sailor had two articles on this topic last year. Given the hurricane-prompted rate increases in the Florida area of the last few years, I'm not convinced I'd bother....
For a boat in the 26-30' range, your car/home insurer may be the most competitive. Most won't cover them larger than that, and then your rateing will depend on things like the area you are in, the value of the boat, the age of the boat, the coverage you want (of course<G>), and whether you are a first-time boat owner or can document prior boating experience and training.
For a bigger boat and solid coverage, yes, IMIS gets consistently high praise. Not cheap--but pros who deal straight.
Policies that look alike at first glance can also be very different, if you get two very different quotes don't be afraid to ask each one to compare line by line with the other, and what other coverage they recommend. (Like fuel spill and salvage liability.)
Thanks Cam for the advice. I went to the site, and saw that their Mexican rider is a LOT less expensive than what I've been paying. I've asked for a quote.
Just one of my friends who crew for me on my old Hardin 45. I prefer female crew, they share the work better, work hard, no problems with the cooking or clean-up, no macho stuff, And, they look better in bathing suits. I'm kinda father figure to them.
Ya'know, I'm so used to it I just don't see it anymore. I thought it was just a nice picture.
You should see it when I've got 4 of them aboard, no peace at all. I want to turn on the engine and just motor with autopilot, kick back and have a drink in the sun, but they're honking the sails and getting 4 kts in 10 kts wind. They work hard and don't let up. At least I have some solice that I don't have to work hard except to nurse scratches, apply suntan lotion and repair and broken nails.
....and saw that their Mexican rider is a LOT less expensive than what I've been paying. I've asked for a quote.
Ian...I have their Jackline policy from Markel...which is not cheap but really saved my butt in Grenada...and I was treated way better than a lot of boats around me were. This I attribute mainly to Markel and the details of THAT policy. But...the nice thing about IMIS is they deal with only good insurers and can pick and choose among them to find the best fit for your particular needs. Bob Bell is the guy I work with there. I initially picked them cause so many on the SSCA used them and recommended them.
Good luck with the coverage
Thanks Cam, I'm calling them today. Looks like I may be able to save a bundle. I saw the jackline policy but I wasn't clear on what that was. I'll find out today. Thanks again, you always have good advice.
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