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Go Back   SailNet Community > General Interest > General Discussion (sailing related) > What are you paying for boat insurance?
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Thread: What are you paying for boat insurance? Reply to Thread
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Topic Review (Newest First)
08-17-2007 01:38 PM
NOLAsailing Progressive will insure older hulls but they'll only go up to $20,000. They often do not require surveys.

One thing to consider if you are thinking about a liability only policy is the cost of salvage. Most policies will cover the payout for the boat plus the salvage costs. Even sinking at the dock can be extremely expensive. After Katrina, they were charging a fortune. I know one person who paid $3000 to have his boat lifted with a mobile crane (already on site) from the SYC parking and into the marina - a distance of maybe 15 feet.
08-17-2007 01:27 PM
jr438234606 I've had it with Insurance. I WAS insured with Allstate-- $1,800 annually. Filed a claim on some major hull damage. NEVER HEARD BACK FROM ALLSTATE! That was over 4 months ago. I am NOT in good hands!

It's my opinion that people are over-insured on just about everything these days.
06-26-2007 12:43 PM
T37Chef In addition, I would of had to get another survey for Hartge.
06-26-2007 12:39 PM
T37Chef
Things that make you go ummmmmmmm......

I just got our renewal from Boat US...for a $57,000 AV the premium is $645.

Before I renew I called Hartge Insurance & Progressive. The best Hartge quoted me was over $1000.00. I also tried Progressive, their quote was only about $250, BUT they will only insure boats older than 15 years for a maximum of $20,000...period.

Looks like I'll be renewing my Boat US policy
06-25-2007 11:00 PM
P3x Try Heritage Marine Ins. in Conn. (http://www.heritagemarineinsurance.com/).

I found them very reasonable and they specialize in insuring "Good 'Ol Boats."
06-25-2007 10:39 PM
mederj I live in South Florida. Boat Insurance is very expensive. For complete coverage including Bahamas pricing is close to 3% of the hull value.
06-14-2007 09:54 PM
brak I had no issues with BoatUS within US waters. But where do you go for insurance if you sail abroad?
06-14-2007 09:45 PM
RickLaPaz
Quote:
Originally Posted by camaraderie
It also insures that you don't have to go back to work if something bad happens to the boat...that fo me was the BIG incentive to keep insurance! Anyway...good luck in PR again this season.
Great answer. A few years ago I began to look at insurance premiums as a poor man's IRA or life insurance policy. Especially as age increases while the urge to go back to work in the middle of a cruise decreases. 3K a month is only $8.22 a day. Buy some large trash bags and find 5 pounds of aluminum cans every morning. The excersise right there is worth it.........

Rick
06-07-2007 10:30 AM
camaraderie Escape...I guess we all make our choices and are entitled to do so but as an Ivan victim in Grenada...I can tell you that no one regretted having insurance and those that didn't wished they did. $3k is a small price to pay on a boat as nice as a caliber. It also insures that you don't have to go back to work if something bad happens to the boat...that fo me was the BIG incentive to keep insurance!
Anyway...good luck in PR again this season.
06-06-2007 08:12 PM
EscapadeCaliber40LRC Insurance is a sore point with me. I bought the boat from the PO in 2003 and bought a full coverage policy from the same insurer that the PO used. Boat was surveyed in 2003, in Australia. Survey was good quality in detail. I called the surveyor up to clarify some findings. I paid $2400 for $180K replacement value. Policy allowed for 250 miles off shore but must be outside the box during hurricane season. Box includes from Florida tip to Grenada. In 2004 and2005 they raised the premium a 100 or so each year. I called them before each hurricane event in 2004 and 2005 that might effect boat to report measures I had taken. I called them in Dec 2005 to report that I had damage and that I would repair all damage on my nickel. Total repair cost was less than their "named storm deductible". In Jan 2006 I called them to tell em I was moving the boat southbound. They called me back a couple of days before I was set to leave and said I needed to provide a new survey. I told them I would look into this when I reached Georgetown. They argued. I sailed. Discussion continued by email as I moved south. I passed on the haul out in Georgetown. Discussion continued by email. I fired them around the Turks or Luperon. I finally hauled out in Fajardo, Puerto Rico last Aug or Sept. I called them back and sent them results, I asked for a liability only quote. It came back about $1000. I dropped the issue. Boat remains uninsured and happily inside the dreaded box. If it sinks its my nickel. If a liability issue occurs, its my nickel. In the meantime I'll bank the $3K+ per year in the "boat improvements/repair" account.
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