What are you paying for boat insurance? - SailNet Community
Reply
 
LinkBack Thread Tools
post #1 of 23 Old 06-04-2007 Thread Starter
Junior Member
 
Join Date: Jun 2006
Posts: 23
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
What are you paying for boat insurance?

How much are you paying for boat insurance?

My criteria is seasonal use in coastal New England for a sailboat valued at $30K with no claims.

Last year I paid about $365 and this year the best quote is around $800.

Thank you in advance.
sailboatcnc is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 23 Old 06-04-2007
Telstar 28
 
sailingdog's Avatar
 
Join Date: Mar 2006
Location: New England
Posts: 43,290
Thanks: 0
Thanked 15 Times in 12 Posts
Rep Power: 14
         
There are a lot more factors that go into it than that. Are you looking at an agreed value yatch policy or a ACV policy? How much liability coverage are you looking for? Do you want marine pollution remediation coverage? Do you want salvage coverage? How old is the boat and when was it last surveyed??

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.
sailingdog is offline  
Quote Quick Reply Share with Facebook
post #3 of 23 Old 06-04-2007
Admirals fav target
 
Join Date: May 2006
Location: On land unfortunately
Posts: 228
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 10
 
I am (unfortunately) one of those mean ole' insurance agents. Over the last couple of years I've been really paying attention to boat insurance and particularly coverage for S/V's. The thing I've noticed most is that, unlike insurance for your auto or home, you should shop your boat insurance around at each renewal. Sometimes changing carriers is not all that easy but you might be suprised how things change. (With your auto or home every 2 to 5 years may be sufficient for comparing rates.)
One example is that Progressive now covers offshore up to 75 miles and you can extend that to the Bahamas. This is a new thing for them but is a great illustration of how things can change. I know a lot of people don't like the progressive boat program but a friend of mine had a boat sink when a thru hull failed and Progressive was on site within 24 hours and did a great job for him. On the down side Progressive quit insuring older boats for more than $20,000.00 a few years ago but again this illustrates how things change.
I've noticed that BoatUS seems to be getting a lot more aggressive in marketing. This "usually" translates into better rates.
In the meantime Markel seems to be getting harder and harder to place coverage with due to more stringent underwriting guidelines. I've attempted several times to place some really nice vessels with them only to have them turned down for what I would call "stupid excuses".
These are just a few examples of some of the changes in market conditions. They all pretty much point to the same thing. With your vessel you should take the time to shop around on every renewal. Check back with companies that weren't competitive the year before or that you couldn't meet their criteria to obtain coverage.
Also take the time to educate your self about the coverage you really need. Most insurance agents spend a lot of time trying to sell you coverage you don't want or need and they'll also try to tell you why you don't need some of the coverages you might want. What really turns out to be the "real deal" is that the company or companies the agent has access to may not offer what you're looking for. Just don't be discouraged by all the BS in the insurance business. There are as many different companies out there as there are different kinds of people. With a little persistance you'll find the company that's right for you. With that in mind also remember that all companies are different and cheaper shouldn't be your only consideration when shopping around.
NCountry is offline  
Quote Quick Reply Share with Facebook
post #4 of 23 Old 06-04-2007
Senior Member
 
Join Date: Dec 2005
Posts: 288
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 10
 
NCountry,
Thanks for your comments on boat insurance--very helpful from an "insider". It would also be helpful if you could list some of the key considerations that we should think about in obtaining boat insurance.

I'm thinking of things like:
1) replacement value versus depreciated value for equipment, electronics, etc. 2) amount of liability insurance; 3) whether towing is included; 4) environmental cleanup costs; 5) amount of deductible; 6) exclusions from the policy; 7) coverage for dinghy/motor.

I can't think of any others at the moment, but I'm sure there are many more--a list would be a useful reminder for all of us.

Thanks,
Frank.
FrankLanger is offline  
Quote Quick Reply Share with Facebook
post #5 of 23 Old 06-04-2007
Trim for Sail
 
uspirate's Avatar
 
Join Date: Feb 2001
Location: 36 07 27.69 N 115 10 14.2 W
Posts: 2,148
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 17
     
I have $300k through progressive= $100 annually

To get the most from Sailnet, read the link in
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
signature

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Sin City, Liquor all day, Poker all night...Channel Islands & Diego, So Cal
BJ & Nimfa
S/V Flocerfida


If You dont Stand Behind our troops...Feel Free To STAND IN FRONT OF THEM
uspirate is offline  
Quote Quick Reply Share with Facebook
post #6 of 23 Old 06-04-2007
Telstar 28
 
sailingdog's Avatar
 
Join Date: Mar 2006
Location: New England
Posts: 43,290
Thanks: 0
Thanked 15 Times in 12 Posts
Rep Power: 14
         
USPirate-

Your policy is probably a liability only policy.

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.
sailingdog is offline  
Quote Quick Reply Share with Facebook
post #7 of 23 Old 06-04-2007
Trim for Sail
 
uspirate's Avatar
 
Join Date: Feb 2001
Location: 36 07 27.69 N 115 10 14.2 W
Posts: 2,148
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 17
     
Quote:
Originally Posted by sailingdog
USPirate-

Your policy is probably a liability only policy.
it is SD, I dont give a shlt if it goes down as long as were not in it

To get the most from Sailnet, read the link in
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
signature

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Sin City, Liquor all day, Poker all night...Channel Islands & Diego, So Cal
BJ & Nimfa
S/V Flocerfida


If You dont Stand Behind our troops...Feel Free To STAND IN FRONT OF THEM
uspirate is offline  
Quote Quick Reply Share with Facebook
post #8 of 23 Old 06-04-2007 Thread Starter
Junior Member
 
Join Date: Jun 2006
Posts: 23
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Thanks USPirate for answering. I am also interested in hull insurance.

Anyone else with how much you are paying?
sailboatcnc is offline  
Quote Quick Reply Share with Facebook
post #9 of 23 Old 06-05-2007
Telstar 28
 
sailingdog's Avatar
 
Join Date: Mar 2006
Location: New England
Posts: 43,290
Thanks: 0
Thanked 15 Times in 12 Posts
Rep Power: 14
         
Mine is about $1250 for an $110,000 agreed value policy, covering the Eastern Seaboard from the NC/VA border up to Maine. Full coverage of the dinghy, outboard motor and replacement cost coverage of electronics/equipment.

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.
sailingdog is offline  
Quote Quick Reply Share with Facebook
post #10 of 23 Old 06-05-2007
Alabama Member
 
islandzephyr's Avatar
 
Join Date: Apr 2007
Location: Alabama
Posts: 7
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
My wife and I recently bought a Morgan OI and have found it almost impossible to get liability, and being that our marina requires it we are getting very frustrated with the whole insurance thing.

We have a survey from 2004, and although a little old is very professional and in all digital form but no one will give us liability without a new one? We are not talking hull coverage here, just liability. Not only can we not really afford a new survey right now, but our marina does not have a haul out and our Perkins needs a new head gasket before we can move it, so that comes first.

In the mean time, all we really want is to get some basic liability coverage so the marina is happy.
islandzephyr is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Boat Insurance DonQuijotedelMar General Discussion (sailing related) 1 11-20-2010 01:37 PM
Pleasure boat insurance in Spain DonQuijotedelMar General Discussion (sailing related) 0 07-07-2006 03:56 PM
Boat Insurance in Spain. DonQuijotedelMar General Discussion (sailing related) 0 06-17-2006 07:55 AM
The Right Insurer and the Best Policy Michael J Smith Buying a Boat Articles 0 06-03-1999 08:00 PM
The Right Insurer and the Best Policy Michael J Smith Cruising Articles 0 06-03-1999 08:00 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome