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post #11 of 17 Old 06-01-2011
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That's less than I pay for liability through Progressive..

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post #12 of 17 Old 06-01-2011
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Get a good local agent that can compare several different coverages with you. While each State can be different, some of the above advice is not accurate where I am from.


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post #13 of 17 Old 06-02-2011
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I just wanted liability insurance on my T22 since I only paid 4k for it. I found out due to the size of the boat, motor and value that it was covered under my house insurance.

Here is actually the exact quote

"The liability is automatically included on your homeowners at no additional charge (goes by length and HP and type of motor). To coverage the boat and accessories at $4200 for the best coverage is $168 per year."
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post #14 of 17 Old 06-02-2011
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After doing much research on insurance for a boat of questionable wisdom on whether to carry comprehensive, I went with Progressive. They offer agreed hull value, without a survey, above the purchase price (ie you can make money on the insurance in a loss), for less than anyone else and what I thought to be a reasonable gamble.

This is in New Orleans where the insurance market may not be a good indicator of what would be found elsewhere.
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post #15 of 17 Old 06-02-2011
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I also have progressive. One question I am unclear of is say I am aground and and getting ground on a coral reef with little time before the vessel is a total loss. Do I call the insurace agent and try to get them to get a salvage company to help me or do I try to find one myself? What if I am out of cell range and can only reach the coast guard by radio, what happens then. If I give the ok to a salvor to save my boat will Progressive pay up to the value of the insured value of the boat?
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post #16 of 17 Old 06-02-2011
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Quote:
Originally Posted by casey1999 View Post
I also have progressive. One question I am unclear of is say I am aground and and getting ground on a coral reef with little time before the vessel is a total loss. Do I call the insurace agent and try to get them to get a salvage company to help me or do I try to find one myself?
You sail without Sea Tow?

We once had a large cherry tree that was dieing and going to fall on the house and called our homeowners agent to ask about getting it taken down. They told us to call back after the tree went through the house. About a year later the tree fell, hit the house and rolled only taking off a few shingles and the gutter, want even enough damage to call the agent back on.... That is the bet your insurance agency is going to hedge against your grounded boat.

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post #17 of 17 Old 06-02-2011
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Quote:
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You sail without Sea Tow?
I also have sea tow. I have spoken to the guy in charge of towing. He seems pretty good. But sea tow is only for light groundings, not on rock or coral, that is salvage (although the sea tow guy seems a little lienient on this). My insurace also covers $500 towards tows. I sail in Hawaii, and there really is no such thing as a light grounding. Any damage to your boat (including a demasting) at sea could turn into a salvage. Salvage cost can be very high- into the thousands of dollars as the tow could be 75 miles in open ocean (35 knot winds and 15 foot breaking seas not uncommon in the channels between islands). I try to maintain the boat as best I can, but also want some insurace to cover salvage in case I need it. Even a minor problem could cost you your boat, and salvage cost could easily meet or exceed the cost of your boat. What would your insurance company do if the estimated salvage cost of your boat is more than the boat is worth? Would they just leave it adrift at sea (after you were picked up by coast guard)?
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