Help Me Compare/Rate These Insurance Companies - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest > General Discussion (sailing related)
 Not a Member? 


Reply
 
LinkBack Thread Tools
  #1  
Old 04-12-2011
Junior Member
 
Join Date: Nov 2010
Posts: 4
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
Archi is on a distinguished road
Help Me Compare/Rate These Insurance Companies

I'm soon to be a new owner of a 1981 Sabre 30 and I've been looking at the following insurance companies. I'm a novice so if you could help me to compare/rate the following companies that would be a big help.

BoatUS, Middlesex Mutual, Watercraft, Progressive & Safeco.

Thanks to all.
Reply With Quote Quick reply to this message Share with Facebook
  #2  
Old 04-12-2011
Senior Member
 
Join Date: Nov 2010
Posts: 116
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 5
YeahJohn is on a distinguished road
It all depends what you want and need. Boat US is super picky and may not even be able to get you enough insurance for your marina. You also need to pay for a survey during the Boat US process. I am a Boat US member and love the tow package but the insurance didn't seem like it was for me. I have AAA with a multipolicy for home and car. They underwrite boats up to 31' and then broker larger boats. I would call your home or car insurance and stick with them.
Reply With Quote Quick reply to this message Share with Facebook
  #3  
Old 04-12-2011
kd3pc's Avatar
Senior Member
 
Join Date: Oct 2006
Location: Callao, VA
Posts: 1,353
Thanks: 0
Thanked 9 Times in 9 Posts
Rep Power: 9
kd3pc is on a distinguished road
BoatUS is a go, pay losses as the policy states and easy to deal with...

Progressive, just the opposite...the rates are good, until you need the protection...then not so much help
Reply With Quote Quick reply to this message Share with Facebook
  #4  
Old 04-12-2011
Senior Member
 
Join Date: Nov 2010
Posts: 116
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 5
YeahJohn is on a distinguished road
If I had a boat that was worth more than sentimental value I would probably go with Boat US as well.
Reply With Quote Quick reply to this message Share with Facebook
  #5  
Old 04-12-2011
fallard's Avatar
Senior Member
 
Join Date: Nov 2009
Location: Mystic
Posts: 901
Thanks: 0
Thanked 8 Times in 7 Posts
Rep Power: 6
fallard is on a distinguished road
Whichever way you go, read the fine print and understand whether they provide for replacement or whether they depreciate. You'll pay more for a replacement policy and you may want to have an agreed value that you can live with.

I had a lightning strike last summer that took out all of my electronics and some of the electrical stuff. My policy was with Marine Underwriters, through a local insurance agent. They were $200/yr more than BoatUS, but they provided new replacements, whereas Boat/US had a depreciation clause. The $200 was money well spent.

On the other hand, I have a boat policy for my 23' powerboat and had a lower unit casualty (last year was a bad year!) Even though I had been carrying $11000 coverage on the motor, Safeco would only provide for used parts because the motor was more than 5 years old. They told me I had been overinsured for the previous 8 years! Lesson learned: read the fine print.

I can speak for Middlesex on boat policies, but I have them for my house--also on a replacement basis--and am willing to pay the premium. If you have a lot to lose, you need to understand your casualty coverage. Otherwise, cover yourself for liability and catastrophic loss.
Reply With Quote Quick reply to this message Share with Facebook
  #6  
Old 04-12-2011
KeelHaulin's Avatar
STARBOARD!!
 
Join Date: Mar 2006
Posts: 1,662
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 10
KeelHaulin will become famous soon enough KeelHaulin will become famous soon enough
Quote:
Originally Posted by kd3pc View Post
Progressive, just the opposite...the rates are good, until you need the protection...then not so much help
That's strange; a friend who had a vandalism/fire on his boat recently was paid the full value less deductible for the total loss of it. When I asked who his insurance was he said it was Progressive. They even let him keep the boat.
Reply With Quote Quick reply to this message Share with Facebook
  #7  
Old 04-13-2011
Senior Member
 
Join Date: Aug 2008
Posts: 319
Thanks: 2
Thanked 0 Times in 0 Posts
Rep Power: 7
Sanduskysailor is on a distinguished road
I have had 3 claims in the last 3 years after 20 years of no claims. 1st claim was through ACE Marine insurance, paid claim for 19K on a Sabre 28 which lost its rig and was damaged in a microburst. Send ACE claim was an agreed amount write-off due to grounding damage caused by a seiche a year later. Freak accident, C&C 29II was total writeoff. Third claim was for grounding damage due to to uncharted obstruction in a harbor entrance. Progressive was insurer. Adjuster inspected boat when hauled, wrote estimate, fiberglass guy gave his estimate which was close. Progressive adjustor printed check for fiberglass guy's estimate on the spot. Also told me to call him if it ran over that amount. Further investigation by Progressive confirmed my information on uncharted obstruction. Claim was not applied to my record. Both ACE and Progressive were very professional. In Progressive's case it might have to do with their adjustor being in our area a lot. Here's hoping that I don't have another claim for 20 years.
Reply With Quote Quick reply to this message Share with Facebook
  #8  
Old 04-13-2011
JoeDiver's Avatar
SERIOUS SAILOR
 
Join Date: Feb 2011
Location: DFW Metroplex
Posts: 483
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 4
JoeDiver is on a distinguished road
BoatUS is who I went with. Better coverage and about $100 cheaper than Progressive. (I'm a USAA member)

BoatUS has 2 kinds of policies...the "saver" policy that depreciates and is very inexpensive, and the "yacht" policy which does not depreciate and in my case is an agreed value policy.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

1982 Catalina 25 #2897
FK/SR/Traditional
Eagle Mountain Lake, Texas
Reply With Quote Quick reply to this message Share with Facebook
  #9  
Old 04-14-2011
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 9,451
Thanks: 10
Thanked 155 Times in 141 Posts
Rep Power: 6
Minnewaska will become famous soon enough Minnewaska will become famous soon enough
The only valid grounds to compare the insurance carriers themselves, is on their service, financial stability and reputation for paying claims. Carrier can and do offer different coverage levels, particulary between different states. Insurance is regulated by the states and drives many of these differences. If I told you that I use Traveler's because they will pay half the cost to haul the boat for a hurricane, your policy may not have that feature.

If you are new to boat insurance, I think the best approach is to find a local independent insurance agent that represents several insurance carriers. They can shop for you and, most importantly, explain the differences between the policies. Least expensive is absolutely not necessarily the best policy.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
Reply With Quote Quick reply to this message Share with Facebook
  #10  
Old 04-14-2011
Boatsmith's Avatar
BoatSmith
 
Join Date: May 2009
Location: Jupiter FL
Posts: 136
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 6
Boatsmith is on a distinguished road
I have Progressive and they have paid two claims for me in very good form. They also have a good rate for me.
__________________
BoatSmith ---Boatbuilder
Reply With Quote Quick reply to this message 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:

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

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
insurance price variation between companies rmeador General Discussion (sailing related) 13 08-17-2010 09:35 PM
Boats that compare to a j/30 GreatWhite Boat Review and Purchase Forum 11 03-26-2009 11:23 AM
Jeff H. Please compare c172guy Boat Review and Purchase Forum 8 01-15-2004 06:44 AM
Tiller Autopilot Compare Schooner4 Gear & Maintenance 1 05-20-2003 04:06 PM
compare rol1 Boat Review and Purchase Forum 1 02-19-2003 05:17 AM


All times are GMT -4. The time now is 08:40 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.