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post #1 of 44 Old 04-30-2013 Thread Starter
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NE Insurance Rates - Reasonable?

Just got a $2,000/yr quote on a 1979 Morgan 38-footer from Boat US. We're in Rhode Island. We got the boat for free (but that doesn't mean we haven't sunk some money into it), and we're on it only five weeks a year. I'm thinking about a liability only policy after seeing this quote. Any thoughts or suggestions for more competitive rates in New England?
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post #2 of 44 Old 04-30-2013
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Re: NE Insurance Rates - Reasonable?

That seems high. We are in Rhode Island and pay about $950 a year for a boat valued at $185,000. Contact an insurance agency that specializes in boats to see what they can do for you. We use

Admiralty Insurance Agency, Inc.
2 Central Street
Winchester, MA 01890
781-721-5500
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post #3 of 44 Old 04-30-2013
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Re: NE Insurance Rates - Reasonable?

Age of the hull, condition, loss experience, Skipper's sailing resume, etc, etc, all affect premium. That said, we are insured through Traveler's and just got my bill for $2,800 to cover a $500k hull, liability and hurricane haul out coverage in RI.

I recall that Boat US was not at all competitive when I got a quote several years ago. That can vary state to state.

It seems that you live in CA, but vacation in RI? I wonder if the insurance companies are concerned about an unattended boat. Most losses happen right at the dock.
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Re: NE Insurance Rates - Reasonable?

My 2013 insurance bill is 20% higher than what I paid in 2012.
No claims, incidents etc ... insurance went up.
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Re: NE Insurance Rates - Reasonable?

Owning a 1970 boat just became much harder in the NE after Sandy

I have had insurance pretty much forever claim free and the last carrier just dropped me cold and boat US found a new one

In going out and looking so far even with a CLEAN 2011 survey they seem to have issue with boats older than 25 years as apparently something magical happens at that age that makes the boat a bad risk

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Re: NE Insurance Rates - Reasonable?

gotten brutal as you go from seasonal to year round, coastal to offshore, US to international. May go to liability and otherwise self insure in future if this keeps going on. Suggested on another thread we as a SN community think about setting up a non profit to insure ourselves.

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Re: NE Insurance Rates - Reasonable?

Thats such BS man. For my boat I bought for 2 grand thats 30+ yr old they wanted 1800 and an out of water survey.
I told them to kick rocks.
I live by the mantra of the Buddah anyway regarding material posession:
It was lost before you ever found it. I.E. it was broken before it was made, ie.e. all things come and go.
when my boat sinks, she sinks. The 2000 annual will go on my new boat. Robbers.
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Re: NE Insurance Rates - Reasonable?

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Originally Posted by outbound View Post
gotten brutal as you go from seasonal to year round, coastal to offshore, US to international. May go to liability and otherwise self insure in future if this keeps going on. Suggested on another thread we as a SN community think about setting up a non profit to insure ourselves.
Every good accomplishment starts with a good idea.
Why can't we create a maritime insurance agency for older era sailboats? Seems niche enough to me to have a viable market.
Im down.
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post #9 of 44 Old 04-30-2013
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Re: NE Insurance Rates - Reasonable?

Quote:
Originally Posted by Harborless View Post
Thats such BS man. For my boat I bought for 2 grand thats 30+ yr old they wanted 1800 and an out of water survey.
I told them to kick rocks.
I live by the mantra of the Buddah anyway regarding material posession:
It was lost before you ever found it. I.E. it was broken before it was made, ie.e. all things come and go.
when my boat sinks, she sinks. The 2000 annual will go on my new boat. Robbers.

'Your boat was burned up before mine caught fire and burned down the marina' - not my problem man

self-insured for loss? thats the owners choice
no liability = poor neighbor
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Re: NE Insurance Rates - Reasonable?

Quote:
Originally Posted by alturia View Post
That seems high. We are in Rhode Island and pay about $950 a year for a boat valued at $185,000. Contact an insurance agency that specializes in boats to see what they can do for you. We use

Admiralty Insurance Agency, Inc.
2 Central Street
Winchester, MA 01890
781-721-5500
I'll second Admiralty Insurance Agency. Ask for Marie. Best folks in the business, in my opinion.
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