Insurance Question?????????????

[Dmarina]

I would like any imput regarding boat insurance. We are planning to go into a Marina here in San Diego. Our sailing will mostly be coastal Any recommendation on Companies, what to carry and price. Thanks for any info. Dmarina

[sailingdog]

It would help a lot if you said what kind of boat and how old it is that you're trying to insure. Some insurers won't touch wooden boats, most won't deal with Ferrocement, and some won't insure boats over 20 years old.

[Stillraining]

Hard to beat Boat US and my boat is over 20 years old...still gave me a agreed value policy at a reasonable rate..

[Dmarina]

Sorry I am new at this. I'm asking the question because we are nearing getting our boat ready to go into a Marina and knowing we need insurance, have no knowledge regarding the matter. We are now in a boat yard and a GOOD percentage of the boats here are just sitting because of insurance claims. That costs the owners in rent and court costs. Some have been sitting for years. So I guess liabilty coverage is all that a person needs. Sorry to have been so vague in my question. Dmarina

[Stillraining]

You will need to get a survey done or no one will likely insure it...so be prepared to have to fix whatever the surveyor lists out as "Recommendations"...Boat US will give you 30 days to get one done and fix all deficiencies..and give your marina a binder saying so...another kudo to them.

[sailingdog]

Most marinas require you to have liability coverage, just in case your boat catches fire, so that the damage to the docks and nearby boats can be covered.

There are two types of insurance policies above basic liability: Agreed Value and Actual Cash Value.

The Agreed Value policies pay up to a value you and the insurance company agree on, usually based on the buying/selling price of the boat in the case of a loss. The Actual Cash Value policy pays the actual cash value of the boat, which is often far less than what the boat cost to buy.

Other options include tender/dinghy coverage, electronics coverage, salvage coverage, environmental remediation, etc.

[Stillraining]

and to add to what dog said they will require your ins co. to list them as "Additional insured" usually with a minimum of $300,000.00

[Dmarina]

Thanks to all. Your information has been a GREAT help.

[TxLnghrn]

Another company to consider is Progressive. They were half the price of Boat US for me on an agreed value policy.

[poopdeckpappy]

I had progressive on my last boat, but they wouldn't insure this one, so I went with BoatUS

Boat & Boating Equipment : $52,000.00 Investigative Services : 5% of the above *Boat & Boating Equipment Deductible : $1,480.00 Boating Liability per Accident : $500,000.00 Fuel Spill Liability : $800,000.00 Boat Trailer : $0.00 Uninsured Boater per Accident: $500,000.00 Medical Payments per person : $1,000.00 Personal Effects per Accident : $0.00 Freeze State - Ice and Freezing Endorsment - Yes Current Annual Premium : $619.00

Also the marina is additionally insured

The other cool thing with BoatUS, besides towing, is the My Boat web page you can customize with local info.........like weather forecast