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Ben - FL
Admiral

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880 Posts

Response Posted - 03/18/2003 : 21:48:28

I just got a quote today from my agent because my current coverage goes only fifty miles offshore and I want to sail to Bimini in next month. These figures are for Royal Insr. Co. anywhere in the Caribbean.

$663 premium
$600 deductible
$300K liability
$300K uninsured
$300K pollution
$10K medical
$2.5K personal affects
$500 towing
$5K deductible named storm

Sounds like a bunch of crap to me <img src=icon_smile_angry.gif border=0 align=middle>

Safe voyages,
Ben, FL s/v Chick-a-pea C250wk
<img src="http://www.members.aol.com:/benraye/pictures/fullsail.jpg" border=0>

Edited by - on

Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 03/18/2003 : 22:16:50

What're the odds of any "named storms" next month? Zero? Will anyone give you a rider for a few months?

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

Edited by - on

Gloss
Master Marine Consultant

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USA
1916 Posts

Response Posted - 03/18/2003 : 23:21:13

One thing I never have figured out about insurance policies.

You buy a new truck and the premium is based on its purchase price. sounds good, more expensive truck, more premium. I have no problem with that.

A couple of years later your truck has depreciated a certain percentage and is worth less, and if it is totalled, you are paid less. But the premium is based on the original purchase price. My agent says that is how the law is written. Yeah man. lets see now, lawyers make the laws, make money when you have to sue the lawyers running the insurance company.

Just one of my pet peeves. I'll go take my medication now.

Frank Gloss
89WK/TR

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MattL
Admiral

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USA
990 Posts

Response Posted - 03/19/2003 : 01:45:03

Frank,
What kind of insurance do you have to get those Meds?<img src=icon_smile_wink.gif border=0 align=middle><img src=icon_smile_evil.gif border=0 align=middle>

Matt/Brigitte Loeffler
E.C. Rider
Cat 25 86'
FK/SR _/)

Edited by - on

Oscar
Master Marine Consultant

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USA
2030 Posts

Response Posted - 03/29/2003 : 20:45:23

Just got Lady Kay, and didn't have much time to shop around. Went with Boat US. What none of you mention is the "Cruising Ground" I had to designate. (Chesapeake) Every time I go outside the Chesapeake I have to call them and pay $25.00 for an extension. They do not provide tailored coverage for trailer sailors, unless you want to buy a nationwide coverage for 6 plus BU's. Personally I think this is Bravo Sierra, 'caus when I'm sailing in Maine or the Great Lakes I'm not in the Chesapeake.....so IMHO I'm paying double.
Any opinions?

Oscar
<img src="http://www.woodenshoemusic.com/Images/familypics/LKforumshot.jpg" border=0>
Lady Kay 250 WB #618
In the driveway, just back from Florida ready to go anytime.

Edited by - on

RichardG
Admiral

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USA
990 Posts

Response Posted - 03/29/2003 : 20:57:24

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote> the "Cruising Ground" I had to designate. (Chesapeake) <hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

Boat US is a little looser out here in their definition of "Cruising Limits"..."Pacific coastal and inland waters tributary thereto between Cape Scott, Vancouver Island, and Point Banda, Mexico".

RichardG 81 C25 SR/FK "Sanity"

Edited by - on

Oscar
Master Marine Consultant

Members Avatar

USA
2030 Posts

Response Posted - 03/30/2003 : 09:44:42

Guess that takes care of you folks on the other coast. I'm still looking for a quality Insurance co. with very liberal or no restrictions (within the US of course) on cruising ground. Even if the premium is a little higher, I'd still come out ahead.

Oscar
<img src="http://www.woodenshoemusic.com/Images/familypics/LKforumshot.jpg" border=0>
Lady Kay 250 WB #618
In the driveway, just back from Florida ready to go anytime.

Edited by - on

rwdutton
1st Mate

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USA
52 Posts

Response Posted - 04/22/2003 : 13:27:05

I use Boat/US as well (CNA) and have been quite happy. Cost of insurance around $330 for a Cat25 84 std rig in L.I. Sound

BobD

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John Mason
Admiral

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USA
687 Posts

Response Posted - 04/22/2003 : 13:53:05

Have to agree with you there Frank.

<BLOCKQUOTE id=quote>quote:<hr height=1 noshade id=quote>My agent says that is how the law is written.<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

Yes, and the law is written that way because the Insurance Industry lobbyists got the politicians to write it that way.

I have my boat insured through BoatUS. I'm in Puget Sound and my cruising is limited to the ocean end of the Strait of Juan de Fuca and no racing. If I want to go farther or race, I have to call them and pay more.

[Insurance: making payments on something you hope you'll never get.]

John Mason
<img src="http://www.users.qwest.net/~jamason/ali.jpg" border=0>
pronounced "Ali Paroosa"
1982 - FK/SR #3290

Edited by - on

Doug
Captain

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USA
457 Posts

Response Posted - 04/22/2003 : 20:32:04

48% of all insurance claims have fraudulent claims.

Something like 70% of the population thinks it's OK to Pad or Inflate a loss to make up for premiums.

More Americans think it's OK to cheat their insurance company than to cheat on their taxes.

Insurance companies end up paying for things like mold, sex abuse lawsuits, or terrorist acts, even though they never collected a dime in premium for them.

There's a lot of reasons that policies keep getting harder and harder to understand.

Doug - #1913 Noeta

Edited by - on

lcharlot
Master Marine Consultant

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Antigua and Barbuda
1301 Posts

Response Posted - 04/23/2003 : 08:24:39

Be glad you are insuring a sailboat. Although the premiums people have mentioned in this thread seem high, they are CHEAP compared to what insurance companies are charging for powerboats! One of my wife's co-workers bought a 23' cuddy cabin sport cruiser, a Bayliner or FourWinns, with a small V-6 engine. The boat is not a speed demon, it will do maybe 35mph lightly loaded. The insurance premium is $1800! That is more than the total of the premiums for my homeowner's policy and both of our cars combined!

The last renewal for the premium on "Quiet Time" was $250, and the policy is through State Farm, which is also insuring my house and autos. I had originally tried to get a policy from a marine insurer - Boat US maybe? - but was told that "Quiet Time" was too old. They had something like a 15 year age limit for trailerable boats, and would not issue a policy for my then-18 year old boat. I have also had a couple of Bay Area marinas tell me that they would not lease a slip to me, due to the age of the boat, unless I had a suyvey done by their in-house marine surveyor, and took out a $300,000 to $500,000 umbrella insurance policy psyable to the marina. I guess this was so that if the boat sank one night in the slip, the marina would be covered for the cost of raising it and any other consequential damages. Maybe they had heard about the "to-hulls" and gate valves used on these older C-25's?

Larry Charlot
Catalina 25 #1205 "Quiet Time"
Sacramento, CA

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Dennis Pierce
1st Mate

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USA
59 Posts

Response Posted - 04/23/2003 : 08:38:44

I have a 1941 Chris-Craft 16' DeLuxe Utility that has been repowered with a 6 cylinder to replace the 4. Agreed upon value is $25,000 for the boat and $1500 for the trailer. Total premium, including $300,00 and $500,000 PL & PD is $413 from Hagerty.

Dennis Pierce
Gypsy Witch #1719

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Oscar
Master Marine Consultant

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USA
2030 Posts

Response Posted - 04/24/2003 : 11:27:13

>What're the odds of any "named storms" next month?<

How about this month? April. Forgot the name, but there's one out there right now......

Oscar
<img src="http://www.woodenshoemusic.com/Images/familypics/LKforumshot.jpg" border=0>
Lady Kay 250 WB #618
In the driveway in Behtlehem, PA ready to go anytime.

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