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Bryan Beamer
Master Marine Consultant

Member Avatar

USA
1038 Posts

Initially Posted - 02/21/2003 : 13:13:51

My boat Insurance renewal just arrived, it has a rate increase that is higher than I think it should be. I want to do some shopping.

Any input from you people on the forum would be appreciated. I.e. name of insurance company, how to contact and who to contact would be great.

Thanks.

Bryan Beamer
<img src="http://im1.shutterfly.com/procserv/47b3dc23b3127cce9462f2858f2b0000001010" border=0>
Daylight Again
C250wk #495

Edited by - on

ronrryan
Admiral

Members Avatar

USA
561 Posts

Response Posted - 02/21/2003 : 14:11:03

IF you are a Power Squadron member there is a program for insurance through St Paul co. which SEEMS ok, but I have never had a claim. I spose they all SEEM good until you do have one, although I knew a sailor that had a claim with Boat/US and was satisfied with result, good luck, ron 1981 Orion srsk #2343 SW FL

Edited by - on

John Mason
Admiral

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USA
687 Posts

Response Posted - 02/21/2003 : 15:11:29

I use BoatUS. Rate seems reasonable. Every year you don't have a claim they reduce the premium by $10 or so. But I've never had a claim, so I can't say how they are at that end of the process.

John Mason - Ali Paroosa
1982 - FK/SR #3290

Edited by - on

FrankV
Navigator

Members Avatar

USA
135 Posts

Response Posted - 02/21/2003 : 15:19:35

look at your homeowner's insurance. They might be able to add it on at litle additional costs.

Edited by - on

Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 02/21/2003 : 16:09:09

I went with BoatUS - signed up over the Web. It's actually CNA, and all claims experience I've heard of has been very good. (Our friends' C-30 washed up on the rocks in a hurricane, was later struck by lightning, and was hit by an oil delivery truck in their driveway. <img src=icon_smile_shock.gif border=0 align=middle>)

I also like that BoatUS pays attention to what's going on--that's much of their reason for being. Their quarterly magazine focuses on many different kinds of risks and precautions.

Dave Bristle - 1985 C-25 #5032 SR-FK-Dinette-Honda "Passage" in SW CT

Edited by - on

apgibbs
Deckhand

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USA
13 Posts

Response Posted - 02/21/2003 : 17:27:12

I added a rider on my homeowner's insurance for my C25, and it only cost about $60 per year.

Pat Gibbs "Enchanteur"
C25 #4332 trad/fin

Edited by - on

Derek Crawford
Master Marine Consultant

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USA
3324 Posts

Response Posted - 02/21/2003 : 18:38:06

Pat - who is the Insurance Co. and how much coverage do you get for that $60?? I pay $420 annually with Boat/US and State Farm (who have house & car etc) quoted $425.
Derek

<img src="http://im1.shutterfly.com/procserv/47b3dc30b3127cce942c608d6f1e0000001010" border=0>

Edited by - on

Mark Loyacano
Navigator

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USA
247 Posts

Response Posted - 02/21/2003 : 20:53:08

"Our friends' C-30 washed up on the rocks in a hurricane, was later struck by lightning, and was hit by an oil delivery truck in their driveway"

Dave, your friends boat seemed to be jinxed. I am amazed!

Mark L.

Edited by - on

FrankV
Navigator

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USA
135 Posts

Response Posted - 02/21/2003 : 21:00:22

Our rider on our homeowners gives us $10,000 hull coverage, $500,000 liability, and $5,000 medical for $120 a year.

Edited by - on

Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 02/21/2003 : 21:08:49

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>
Dave, your friends boat seemed to be jinxed. I am amazed!
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>
Well, that was over quite a few years... But BoatUS hung in there with them. They now have a factory quality hull, new stern rail, and all new electronics.

When I hear about a $60 rider on a homeowner's policy, I have to cringe... I paid more than that for coverage on my Daysailer--probably mostly for the liability coverage. (They must have seen me sailing it...) And I've never had a claim.

Dave Bristle - 1985 C-25 #5032 SR-FK-Dinette-Honda "Passage" in SW CT

Edited by - on

tinob
Master Marine Consultant

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USA
1883 Posts

Response Posted - 02/22/2003 : 10:24:27

I've been with Boat U.S for 7 years and haven't had any claims with them. While they present me with a 10% discount for no claim,the other hand reduces the hull value and apologizes for having to raise the premium. Am I missing something here???

Here's what $320 buys me:

A coverage hull,$10,200
A1 investagative
services 5% of A
B liability-- $ 300,000
B1 fuel spillage $500,000
C longshore comp statutory
D medical $5000
E and F none
G uninsured boater $300,000

$ 500 deductable on A coverage only

Initially the hull coverage was for $13,000 and has been reduced yearly to it's present value.

Val on the hard DAGNABIT

Val Bisagni]<img src="http://im1.shutterfly.com/procserv/47b3df11b3127cce94709c5ff2e90000000010" border=0>

Edited by - on

Bryan Beamer
Master Marine Consultant

Members Avatar

USA
1038 Posts

Response Posted - 02/23/2003 : 12:29:30

Thanks for the info guys. I will start the calling process.

Bryan Beamer
<img src="http://im1.shutterfly.com/procserv/47b3dc23b3127cce9462f2858f2b0000001010" border=0>
Daylight Again
C250wk #495

Edited by - on

Ken Cave
Navigator

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USA
148 Posts

Response Posted - 02/23/2003 : 13:11:43

Boat US is now teamed up with West Marine on their insurance angle-and mine promptly went up $30.00!

Yup, the big boys are gobbling up each other and costing us little guys the bucks in the end!

Ken Cave

Edited by - on

Ray Seitz
Captain

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USA
416 Posts

Response Posted - 02/23/2003 : 14:58:02

Bryan we have our boat ins. lumped in with the cars and house and use USAA. Our coverage looks identical to Vals except the boat& motor are valued at ~25K, deductible is $600. I couldn't find an exact statment but I think we pay ~ $215/year

<img src="http://im1.shutterfly.com/procserv/47b3df06b3127cce944032c5b1370000000010" border=0>On the hard &
Under Roof Cave Run Lake KY
Ray Seitz C 250WB #628 Sea Major

Edited by - on

ronrryan
Admiral

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USA
561 Posts

Response Posted - 02/23/2003 : 15:09:13

The story about the Catalina 30 sounds like the old joke: LOST black and white dog. One eye. Three legs. One ear. Answers to the name LUCKY ron srsk #2343 Orion SW FL

Edited by - on

Dennis Pierce
1st Mate

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USA
59 Posts

Response Posted - 02/23/2003 : 17:51:48

I have $500,000 Watercraft liability with $5,000 medical payments for each person for $85.68 per year through State Farm. However, I have 15 policies in two states with State Farm plus a multi-million dollar umbrella policy. By the time I screwed around with a survey and delt with an agent that doesn't know the bow from the stern, I opted to cheap out as the boat is only used 2 months a year.

Dennis Pierce
Gypsy Witch #1719

Edited by - on

Champipple
Master Marine Consultant

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USA
6855 Posts

Response Posted - 02/24/2003 : 08:44:36

Bryan - When shopping, be sure to look into whether the policy is a replacement cost policy or a actual value policy.

dw

D. Wolff - "The Flying Wasp" #401 sr/sk
Chief Measurer C-25/250 National Assn.
<img src="http://www.flags.com/dreamimages/Flags/measurer.jpg" border=0>

Edited by - on

Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 02/24/2003 : 21:35:54

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>
Bryan - When shopping, be sure to look into whether the policy is a replacement cost policy or a actual value policy.
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>
...But remember that the best buy in insurance covers only the risks you can't reasonably afford--particularly liability. As you start covering risks that you can afford (even if you'd rather not pay for them), you start making the insurance companies very happy! You may spend a lot more when your "replacement cost" coverage buys you brand new electronics than when your "depreciated value" coverage gives you about what it was worth when you lost it, minus a deductable. You spend some money to buy brand new replacements, but you may give a lot less to the insurance company every year.

Dave Bristle - 1985 C-25 #5032 SR-FK-Dinette-Honda "Passage" in SW CT

Edited by - on

marzluff
Deckhand

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USA
23 Posts

Response Posted - 02/25/2003 : 19:41:54

I've used USAA for cars, homes, boats,etc for 30+ years. their prices were a bit more than Boatus, but their service has always been outstanding.

Edited by - on

Bryan Beamer
Master Marine Consultant

Members Avatar

USA
1038 Posts

Response Posted - 03/16/2003 : 10:25:47

I renewed my boat insurance with Allstate.
I did get quotes from other places (Boat U.S. Allied, Key Marine Insurance group). They are all about the same price.
Allstate was the cheapest do to the fact I have house cars life and boat.

Thanks for everyone's input

Bryan Beamer
<img src="http://im1.shutterfly.com/procserv/47b3dc23b3127cce9462f2858f2b0000001010" border=0>
Daylight Again
C250wk #495

Edited by - on

Gloss
Master Marine Consultant

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USA
1916 Posts

Response Posted - 03/16/2003 : 13:05:10

Hey Bryan,

I have Allstate too. Whenever I have had a claim on my truck, or homeowners they have been outstanding. I now insure my house, truck, C22 and C25 with them. I am also considering an umbrella plan for excess liability. The more assets you have, the more you have to protect them from the sharks

Frank Gloss
89WK/TR

Edited by - on

Bryan Beamer
Master Marine Consultant

Members Avatar

USA
1038 Posts

Response Posted - 03/17/2003 : 00:15:42

Frank

I have an umbrella plan with them. It costs about $220.00 a year for a $1,000,000.00 policy.

Bryan Beamer
<img src="http://im1.shutterfly.com/procserv/47b3dc23b3127cce9462f2858f2b0000001010" border=0>
Daylight Again
C250wk #495

Edited by - on

osmepneo
Past Commodore

Members Avatar

USA
1420 Posts

Response Posted - 03/18/2003 : 14:45:25

mmmmm! Mmmmmm! Mmmmmm!

My insurance is due in July and from y'awl are saying, I probably will be shopping for a better price/deal.

Don Peet
c25, 1665, osmepneo, sr/wk
The Great Sacandaga Lake, NY

Edited by - on

Bruce Baker
Captain

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USA
402 Posts

Response Posted - 03/18/2003 : 16:15:26

I insure my house and car with State Farm, so I had them insure my boat too. Last summer, my mast broke because the high-priced boat yard I hired to set up the rig forgot to bend over the cotter pins holding up the top shrouds. It was clear to me that nobody in the whole company knew a damned thing about sailboats. They finally paid my claim after I wrote them a very strong letter, but I feel uneasy about them. I'd go with a company that insures lots of boats.

Bruce Baker
"Yee Ha"

Edited by - on

Bryan Beamer
Master Marine Consultant

Members Avatar

USA
1038 Posts

Response Posted - 03/18/2003 : 17:52:57

Sorry to hear about your mast. I guess that is a lesson for all of us.
Most big name insurance company's insure lots of boats, but most of them in my area are stink potters you know the small one's that are ski/fishing boats.

Bryan Beamer
<img src="http://im1.shutterfly.com/procserv/47b3dc23b3127cce9462f2858f2b0000001010" border=0>
Daylight Again
C250wk #495

Edited by - on

Doug
Captain

Members Avatar

USA
457 Posts

Response Posted - 03/18/2003 : 21:11:43

Sorry to hear about your mast problems. Glad to hear they ended up taking care of you. True, not every adjuster with the big companies knows a lot about boats. Then again, I know a lot that do know about boats, infact, I'm one of them. <img src=icon_smile.gif border=0 align=middle> Don't assume that life will alwasy be better at one of the marine only insurers. I remember when we bought an expensive dingy to tow. I called my marine underwriter and asked to increase my coverage, and they refused. It took a lot of arguing to convince them I needed to increase my limit in case by dink was sunk or stolen. They insisted that it sholdn't be worth more than a $100 or so.

Doug - #1913 Noeta

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