SailNet Community banner

1 - 15 of 15 Posts

·
Registered
Joined
·
201 Posts
In my experience, the 'traditional' insurance companies are better suited to writing insurance policies on personal watercraft and smaller boats, like a bowrider. Premiums for largers boats are typically much higher from these companies.

You want a 'Yacht Policy' from a high quality marine insurer, if possible.

I think the fuel / environmental liability limit you quoted is way too small.

For example, here is a quotation I received from BoatUS for Charleston and nearby Atlantic Coastal waters for my J/28:

Cruising Area : U.S. Atlantic Coastal Waters excluding Florida

SUMMARY OF COVERAGES
Boat and Boating Equipment (Agreed Hull Value) : $55,000.00
Boat and Boating Equipment Deductible : $550.00
Storm Deductible : $2,750.00
Boating Liability : $300,000.00
Fuel and Other Spill Liability : $800,000.00
Medical Payments : $10,000.00
Boat Trailer : $.00
Trailer Deductible : $.00
Personal Effects : $.00
Personal Effects Deductible : $.00
Uninsured Boater Protection-Limit each Accident : $300,000.00

TOTAL ANNUAL PREMIUM : $1,487.00

PS, I don't think your age has that much influence on the premium, unlike an auto policy.

Jason
 

·
Registered
Joined
·
201 Posts
Follow up

Here are some additional insights on your second set of questions.

I also have some questions that I can't really ask the agent without sounding sketchy, but I feel that they are legit questions...apparently they do not require a survey at all, but may send someone out to do an evaluation. If this is the case, what will they be looking for? Am I going to be denied coverage if I'm missing double clamped hoses? The electrical on my boat probably was top of the line in 1974 Europe, but I don't think that its going to win any awards here... I guess I'm directing this mainly towards those who have had the evaluations take place, what'd they look for? All other opinions are welcomed!

You likely will not be denied coverage for missing clamps. Often, insurers will require you to satisfactorily fix a critical items addressed in a survey as a condition of writing the policy. Obviously...you avoid this if a survery is not a condition of underwriting.

A survey, or evaluation in your case, is to protect the insurer...they want to know what they are insuring is in the condition you describe.

Jason
 

·
Telstar 28
Joined
·
1,000 Posts
That's an awfully high quote.

I've got about six times the agreed value on my policy, and much more in liability coverage along with full salvage/towing coverage, and coverage from somewhere in Maine down to the VA/NC border and 250 NM out... for less than that. You're getting reamed.

Call Christine Hartge, at Hartge Insurance and ask her for a quote.

Galesville, MD Location:
Hartge Insurance Associates
P.O. Box 250
Galesville, MD 20765
Phone: 1 (800) 999-5251/410 867-6666
Fax: 410 867-6664

Tell her Dan with the Telstar sent you.

:D

Hey!
I am considering getting PROGRESSIVE insurance, but I have some questions.
here are the details of the quote. Boat is a 1974 Contest 31'

13000 Agreed value of boat (paid 12000)
100,000 uninsured boaters
100,000 liability (combined limit per accident)
covered 75 nm out
500.00 deductable for comprehensive collision and electronics

Wreckage removal is covered in comprehensive, I assume that does not include environmental impact insurance. Also included is 'disappearing deductable', whatever the hell that means! Fuel spill liability is included under liability, so maybe impact fee is covered afterall. Is that the same thing?
These are questions that I will ask the agent, I am just reading the quote for the first time since I got it and relaying it to you guys first.

Cost when paid in full-which I would do- is $1520.

I also have some questions that I can't really ask the agent without sounding sketchy, but I feel that they are legit questions...apparently they do not require a survey at all, but may send someone out to do an evaluation. If this is the case, what will they be looking for? Am I going to be denied coverage if I'm missing double clamped hoses? The electrical on my boat probably was top of the line in 1974 Europe, but I don't think that its going to win any awards here... I guess I'm directing this mainly towards those who have had the evaluations take place, what'd they look for? All other opinions are welcomed!

OH! The boat will be kept in Charleston, SC so I imagine that the rates will be a bit higher bc of the hur**cane location.

thanks!
austin
 

·
Registered
Joined
·
1,000 Posts
Contact BoatUS too. My policy is 1/4 mill and I pay less than that. Mine is for inland right now though. Still, my Fl policy was recently quoted at 2700ish IIRC. It might have been a bit less than that even. I would have to look. BoatUS had the best rates for me at the time.

Regarding the survey, that has been typical in my experience. The surveyor will make reccomendations and they will be reviewed by the insurance company. The insurance company will either approve you alltogether, tell you that you need to fix some things (usually within 60 days) and send out surveyor again, tell you that you need to fix them and not send out for re-survey, or deny alltogether.

If the latter, also check into Allstate. They actually had some decent rates for a while. However, they never required a survey from us. However, my baots have typically been new.

Brian
 

·
Registered
Joined
·
6,707 Posts
check around moonie, you're getting hammered for sure, like CD said, check out BoatUS, be sure your environ impact coverage stands alone ( so there's no question how it's appiled ) 100,000 wont begin to cover the recovery let alone the fines somebody may ( and most likely will ) impose on ya, and get Sea Tow or Vessel Assist
 

·
Admirals fav target
Joined
·
229 Posts
I tried BoatUS and they were double my Progressive policy for half the coverage. Remember that Progressive uses a financial responsibility check AND everything you asked about is covered under the Progressive policy including the fuel spill and environmental coverage. This disappearing deductible means that each time you renew the policy without a claim your deductible drops until after (I think 5 renewals) there will be no deductible for a claim. The policy should also include on the water towing. AND in most cases you'll get claims service that is less than 24 hours. You can even get replacement cost for your personal items.
In one case I know of the claim was reported within an hour of a sinking. The adjuster called and gave the go ahead to re-float the boat and pickle the motor before he even saw the boat.
I'm an agent and have had experience with Boat US and Markel. The service on the Progressive policy will be far superior to anything the others can do for you. The possible inspection your talking about will just be to verify the condition of the boat and yes they will probably make some suggestions if there's anything that needs to be fixed.
I also ask insureds this question. Do you always buy the cheapest you can find when shopping for something? How's that working out for you? People with less experience will try to tell you that all insurance companies are the same but that is not typically the case. Just as not all auto companies, tool companies, furniture companies or any thing else in a super long list are the same. If you just shop for price you're gonna get exactly what you pay for.
 

·
Telstar 28
Joined
·
1,000 Posts
Oops... didn't realize you were a liveaboard. :) Christine's a good egg.. ;)
 

·
Glad I found Sailnet
Joined
·
3,842 Posts
I have 10 times the coverage for slightly less cost. Hope that helps.
 

·
Registered
Joined
·
905 Posts
I just got a quote from the folks who ASA uses......
and for about 18000 - 4HP outboard new 18 Precision
inland waters
even including liability, (which my homeowners provides anyway for free).
$275.

My regular agent had quoted 529.

They use
National Marine Underwriters, Inc. - Leading provider of boat insurance

If anyone has had bad or good experiences with this ASA suggested (they were on the ASA site), let us know in this thread.
 

·
Registered
Joined
·
8 Posts
So State farm wants me to get a survey before they will give me a policy, but my yearly rate is only going to be $250 a year. How much would a survey for a 25 ft cost? $350...$450? Would I benefit by having a survey done? Its a 73 C & C and from what I can tell in great shape, but I would like to know any problems that may present themselves.
 

·
ancient mariner
Joined
·
439 Posts
boat insurance

this policy is through the u.s. power squadron from the st. paul fire & marine insurance co. i have taken all the power squadron courses through senior navigator & a 100 ton license with sail endorsement. i sail lake superior.
1994 nimble 30 express . yanmar 2GM20F diesel boat & boating equipment $ 40,000 $400 deductible. boat trailer $ 2,000 $ 150 deductable liability- property & bodily injury $500,000 pollution liability $800,000 medical expenses $10,000 personal property $ 1,500 longshore $ harbor workers comp , included in liability uninsured/underinsured boater , included in liability i got the trailer insurance instead of towing ins. six months in the water. total cost----$275.00:)
 
1 - 15 of 15 Posts
Top