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Insurance question:

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AADIVER
Admiral

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USA
966 Posts

Initially Posted - 07/30/2009 : 17:10:45

What is your favorite marine insurance company, and is it better than BoatUS? Details, por favor.

Frank Farmer
Long Beach, CA
aa.diver@verizon.net
http://mysite.verizon.net/aa.diver

PRETTY PENNY
'01 C-250 WK, Hull #558

Edited by - on

delliottg
Former Mainsheet C250 Tech Editor

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USA
4479 Posts

Response Posted - 07/30/2009 : 18:00:57

We use Progressive, mostly because USAA referred us to them when we tried to insure the boat through them. I've been insured through USAA for as long as I can remember and have never had a problem with them, plus they're generally the cheapest. If another company tries to talk me into their insurance all I have to say is I have USAA, and they say "oh", and quit.

We've never made a claim with Progressive, and hope to never have to. We have a towing rider on it, as well as half a million dollars of liability (required by our marina), and I think it costs us about $320/year. I guess the proof is when you make a claim as to how they are to deal with, and I haven't had to do that.

I guess this wasn't overly helpful, but at least you have the name of one company you can talk to.

Edited by - on

jerlim
Master Marine Consultant

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USA
1484 Posts

Response Posted - 07/30/2009 : 18:25:58

Progressive.

Edited by - on

Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 07/30/2009 : 18:41:15

My boat, house and car are with one carrier, so they're all under one liability umbrella. With no claims on any of them (knock-knock), I can't say much except that a retired independent agency owner (no strings) recommended the carrier--Middlesex Mutual (now MiddleOak) in Mass. Chubb was his other recommendation.

Edited by - on

Dave5041
Former Mainsheet Editor

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USA
3758 Posts

Response Posted - 07/30/2009 : 19:11:58

I have BoatUs - they're flexible with my Gulf Coast rider in the winter and reasonable price. I've never made a claim, but I haven't heard any negatives from people who have. Negative stories spread faster than positive.

Edited by - on

AADIVER
Admiral

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USA
966 Posts

Response Posted - 07/30/2009 : 19:33:46

Since I'm in the preliminary stages of trading my 2001 C-250 for an '82 C-30, I wanted a ballpark estimate of coverage. We're with USAA so I queried them first. They no longer insure boats except with Progressive. Progressive's quote: $435.00 a year. BoatUS's: $274.00 a year as a BoatUS member. Guess who we're going with if the trade deal goes down

Edited by - on

Voyager
Master Marine Consultant

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USA
5377 Posts

Response Posted - 07/30/2009 : 21:07:50

As a member of the US Power Squadron, we receive excellent insurance from Northwest Mutual for a really great price. My premiums are $300 per year and I have $1MM liability. [Edit] plus $20K for contents

Edited by - Voyager on 07/30/2009 21:08:29

KD4AO
Navigator

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USA
202 Posts

Response Posted - 07/31/2009 : 05:53:45

Progressive, 1 claim for lightning damage, they were here in an hour of calling, wrote a check for the estmated repairs and said they would leave the case open for a couple of years in case any further damage was discovered, none was, total damage was just over $600. It is all fixed and Progressive did not raise rates because of it.

Edited by - on

crcalhoon
Captain

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USA
303 Posts

Response Posted - 07/31/2009 : 19:25:53

I used to have Boat U.S. When hurricane Hugo hit Puerto Rico in 1989 I had no real damage to the boat, but was knocked down off my jack stands (somebody stole my chains). Boat U.S. unquestioningly paid the $500 that the marina charged to stand me back up, but they then cancelled their Caribbean coverage completely, forcing all of us to go get a fresh survey and find a new insurance company. On the whole, I think they are a pretty good company, but I was a little ticked off at the time.

Edited by - on

Renzo
Admiral

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USA
621 Posts

Response Posted - 08/01/2009 : 06:48:57

I have had Boat US Insurance for 20 years. I am very pleased with them. They were extreemly understanding and helpful when I had 2 outboard motors stolen off my boat one week apart. They paid exactly what the policy said they would pay for both motors, a prorated amount for the old motor and full price for the new (one week old) motor.

I switched over to Boat US when my previous insurance co. (that billed themselves as "sailboat insurance specliaists") raised my boat rates because of automobile speeding tickets.My car wasn't insured with the same co. as the boat. The "sailboat insurance specialist" explained to me that if I drove my car fast they figured I would drive my boat the same way. I agreed with them I told them that I always try to <b>SAIL </b> my <b>SAILBOAT</b> as fast as possible.

Then I immeadiatly cancled my policy with them

Next,I called Boat US, told them the story, and we had a good laugh as I signed up with them.

Edited by - on

piseas
Former Treasurer

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USA
2017 Posts

Response Posted - 08/01/2009 : 06:50:21

Frank, first good luck on the trade. As an insurance agent in CA, I deal with all the companies. I sell Progressive but even with my commission, BoatUS was cheaper. Plus they have to towing service so I went with them. Haven't used them for either service yet.
Steve A

Edited by - on

fpill
1st Mate

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USA
51 Posts

Response Posted - 08/17/2009 : 07:11:37

I just received 2 quotes from Boat US,one for their boat saver policy ($267) and their yacht policy ($337). The boat saver policy pays the market value ( 1978 wing keel retrofit,with 2009 Nissan 9.8hp), while the yacht policy pays an agreed value.

I'd be interested to find out what others have chosen.
I'm calling BoatUS today to find what my market value actually is.
Are there any other questions I should be asking?

Edited by - on

John Russell
Master Marine Consultant

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USA
3444 Posts

Response Posted - 08/17/2009 : 07:25:40

That difference in premium price could mean thousands in settlement dollars. I'd go with the yacht policy. My wife just had to replace her car (the teenager totaled it). We were treated very well by our insurance comapany. They paid a fair price but, to get a comparable car, we paid about $6k more than the settlement. I wish we could get "replacement cost" insurance on a car.

Edited by - on

piseas
Former Treasurer

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USA
2017 Posts

Response Posted - 08/17/2009 : 12:06:37

I went with the agreed value with BoatUS. It was not that much more, in my opinion. And I am an insurance agent.
Steve A

Edited by - on

tyztoy
Deckhand

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USA
24 Posts

Response Posted - 08/18/2009 : 06:50:59

I am purchasing my first sailboat (1984 Catalina 25) and got an online quote from BoatUS. Evidently the standard Medical Payment is $1,000. This seems very low to me. Do most people up this amount? Liability is $500,000. Thanks for helping this newbie, and I look forward to joing the association!

Edited by - on

Tradewind
Admiral

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USA
531 Posts

Response Posted - 08/18/2009 : 14:28:45

I had BOAT US for about 20 years when I lost my boat to IVAN. They paid, no problem, but wouldn't insure another boat for me for 5 years. I'm currently with USAA/Progressive and am satisfied for now with coverage with a boat on a lake in Georgia. I'm curious to see how that will change when I move back to the FLA gulf coast next year with the 250 or a bigger boat.

Edited by - on

Sloop Smitten
Master Marine Consultant

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USA
1181 Posts

Response Posted - 08/18/2009 : 16:29:13

tyztoy,
The medical insurance is for you. If you already have medical insurance it can offset a deductible. I'm sure you can raise it if you do not have your own medical insurance but I think it would be cost prohibitive.

Edited by - on

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