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Go Back   SailNet Community > On Board > Boat Review and Purchase Forum > Insurance cost
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Topic Review (Newest First)
03-03-2008 09:22 PM
sailingdog Art-

Is your policy an Agreed Value policy, and what navigation area does it cover? Also, what liability limits and coverage does it have? All of those will affect the price. If your policy is really only $265... who is it through???
03-03-2008 08:33 PM
theartfuldodger I live in Canada, east coast and sail all year in winter as well, althought the boat is a 1974 Morgan O/I, its replacement cost is insured for 145,000, after the survey which the insurance company wanted. The cost of this policy was 265.00 last year this year there is a 10 dollar increase. Wondering why its so expensive it seems in the US as my under writer is an Amercian company.
03-03-2008 08:32 PM
sailingdog Just to give you an example... a friend's boat is insured at $118,000 and has coverage similar in geographic area as mine... Northern Maine down to North Carolina, and their policy is about $1300... Even though the quote you have gotten is for a higher agreed value, the more limited geographic coverage drops the price a bit. I would be interested to hear how much a policy covering most of the east coast would be for your boat.
03-03-2008 08:23 PM
teshannon If you want to pay more than $1,200 I'll take a personal check!
03-03-2008 08:20 PM
jorgenl All,

Thanks for all your help.

It seems that $1,200 is in the ballpark which is really all I wanted to know at this time. I honestly thought it would be a lot more expensive, maybe $2-3k or so.

I will definetely call around and compare when the time comes.

SailorMitch, thanks for the tip to extend coverage to outside the bay, the DelMarVa circ is something I would like to do one day.

Thanks again.
03-03-2008 08:09 PM
SailorMitch Yes, call around to compare. SpinSheet has ads for several boat insurers.

One note on your current policy with the bay restriction -- you can get a rider to change that for a specified time if you want to cruise outside of the bay. Just takes a phone call. When I did it about 5 years ago the cost was something like $25. I did a Delmarva circumnavigation.
03-03-2008 05:59 PM
jorgenl Sorry, forgot to mention location is Chesapeake Bay.

I think my current policy on the 30' boat is restricted to the Bay only, no offshore. Probably just as well
03-03-2008 05:56 PM
teshannon I have an Agreed Value Policy for a 42' boat costing slightly less than your $150k. Costs me about $1,300 a year. It will go up however when I move the boat from the bay to the coast.
03-03-2008 05:38 PM
sailingdog It really depends.. what geographic area you're sailing in, whether the policy is an AGREED VALUE or ACTUAL CASH VALUE policy, what kind of coverage you have and about a dozen other things... It does sound a bit on the low side to me for an Agreed Value policy for that much coverage.
03-03-2008 05:34 PM
Freesail99 Call BoatUS for a price and compair them.
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