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Insurance

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Erik Cornelison
Navigator

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USA
194 Posts

Initially Posted - 12/20/2017 : 14:58:07

I need to insure my boat, who do you recommend? Good/bad?

Any recommendation between companies when the boat is stored on the trailer vs. a mooring/marina.

Erik Cornelison

Erik Cornelison
6th Generation Professional Sailor, First Gen Submarine Sailor.
1986 Standard Rig SW. #5234

Kim Luckner
1st Mate

Members Avatar

USA
97 Posts

Response Posted - 12/20/2017 : 16:38:30

I've had fantastic experience with Progressive. Modest cost great service.

Seeadler
'79 C25 SR/FK #1432
Mentor Lagoons

islander
Master Marine Consultant

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USA
4007 Posts

Response Posted - 12/20/2017 : 17:00:50

I have progressive also. Never had to use it though. I think with most of these boats that are worth less than $10,000 and many worth far less than that depending where you live it's not so much the replacement value that is important but rather the liability that is.

Scott-"IMPULSE"87'C25/SR/WK/Din.#5688
Sailing out of Glen Cove,L.I Sound

Edited by - islander on 12/20/2017 17:13:41

sethp001
Mainsheet C-25 Tech Editor

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814 Posts

Response Posted - 12/20/2017 : 17:12:34

I've always used GEICO, and have been happy with their pricing. They offer both agreed-value and actual-value policies.

I've never had a boat-related claim, but they've been fantastic on our automobile claims.

Your deductible decreases by 25% each year without a claim. After four claim free years, your deductible is zero.

They did not charge me any extra when I added a trailer to the policy.

Seth
"Outlier" 1987 Catalina 25 SR/SK/Traditional Interior #5541
"Zoo" 1977 Morgan Out Island 30
"Nomad" 1980 Prindle 16
"Lost" 1988 Catalina Capri 14.2 (sold - yay!)
"Marine Tex 1" Unknown Origin POS 8' Fiberglass Dinghy
https://whichsailboat.com/2014/07/27/catalina-25-review/

GaryB
Master Marine Consultant

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USA
4291 Posts

Response Posted - 12/20/2017 : 18:15:45

How much are you guys paying per year for your insurance? If you don't mind me asking.

Association Member

GaryB
Andiamo
'89 SR/WK #5862
Kemah,TX

OLarryR
Master Marine Consultant

Members Avatar

USA
3398 Posts

Response Posted - 12/21/2017 : 03:57:17

Boat US right now has Geico as their insurance partner. My current policy cost either $174 or $178 and that was based on a replacement value back when I bought my boat 10 years ago. Not sure if I had the policy re-evaluated, how much it would draw down the cost. The fact is that you replace outboards, sails, etc and so the replacement value may remain high. Also, insurance cost has to do with injury coverage and damage to other craft or the marina with probably a minimum of $300,000 liability.

Larry
'89 Robin's Nest#5820, Potomac River/Quantico, Va
http://catalina25.homestead.com/olarryr.html

hewebb
Admiral

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USA
761 Posts

Response Posted - 12/21/2017 : 04:39:14

Gary
I have progressive with a stated value of $12,000.00 for the boat and $2,500.00 for the trailer. Cost is #394.00 per year.
I had a claim when the marina came apart and their service was great.

1988 WK/SR w/inboard diesel Joe Pool Lake
Hobie 18 Lake Worth

Life is not a dress rehearsal. You will not get another chance.

DavidBuoy
Admiral

Members Avatar

USA
707 Posts

Response Posted - 12/21/2017 : 05:34:35

We have liability only and I believe when we added the boat to our existing policy it literally cost us nothing.

Captain Rob & Admiral Alyson
"David Buoy"-1985 C25 SK/SR #5053

islander
Master Marine Consultant

Members Avatar

USA
4007 Posts

Response Posted - 12/21/2017 : 05:35:23

I'm not sure but I think that once the boat is on the trailer or is being towed, Coverage then falls under your automobile coverage. If it's stored on your property it then might fall under your homeowners policy. Not sure though.

Scott-"IMPULSE"87'C25/SR/WK/Din.#5688
Sailing out of Glen Cove,L.I Sound

Bladeswell
Captain

Members Avatar

USA
490 Posts

Response Posted - 12/21/2017 : 10:10:26

Hi Again,

I am covered by State Farm. Mostly because of the price break for multiple vehicle coverage. I pay $135 a year for $300K liability and $6K for the boat. At the time, The $6k included a trailer which I no longer have so I'm sure that number is somewhat lower now.

Bladeswell

C25 TR FK Hull #973 1979 L-Dinette. So.Cal.

bigelowp
Master Marine Consultant

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USA
1756 Posts

Response Posted - 12/21/2017 : 11:37:45

I too have Progressive and forget the amount for the C25 (I have two boats on the policy) but believe it was @$200/yr. You will need a survey however for replacement/damage insurance. Liability alone does not require a survey.

Peter Bigelow
C-25 TR/FK #2092 Limerick
Rowayton, Ct
Port Captain: Rowayton/Norwalk/Darien CT

Stinkpotter
Master Marine Consultant

Members Avatar

Djibouti
9040 Posts

Response Posted - 12/21/2017 : 11:46:18

quote:
Originally posted by bigelowp

...You will need a survey however for replacement/damage insurance. Liability alone does not require a survey.

That's one reason for having the boat surveyed when you're considering buying it--your offer can make it a contingency (as on a house). It's not an uncommon requirement for damage/replacement coverage, so you might as well have it work for you, too.

Dave Bristle
Association "Port Captain" for Mystic/Stonington CT
PO of 1985 C-25 SR/FK #5032 Passage, USCG "sixpack" (expired),
Now on Eastern 27 $+!nkp*+ Sarge

panhead1948
Captain

Members Avatar

345 Posts

Response Posted - 12/21/2017 : 11:50:49

I have mine through BOATUS. At different times I have asked my Car and Home insurance about boat coverage and they tell me they can't compete with BOATUS

BKPC25
1st Mate

Members Avatar

USA
74 Posts

Response Posted - 12/21/2017 : 15:18:44

Progressive.
$30/month.
$4000 replacement value.
It was only a dollar or two less to have a $3K value.
Two big reasons to cover the coat are if you crash into another boat AND if your boat sinks in some places like a marina it has to be lifted out...that could be very expensive.

1973 C22 #1803 "Baby Adalynne"
(1979 C25 #1389 "Adalynne")
Instagram: #sailingadalynne
https://m.youtube.com/channel/UCQCd-egRgoAJi6fUvgEvI_A
Lake Travis, Austin, TX

Erik Cornelison
Navigator

Members Avatar

USA
194 Posts

Response Posted - 12/21/2017 : 15:31:44

GEICO quoted me $274 a year with a $8000 value on the boat and a $3000 value on the trailer. On the question on where the boat is stored I checked land vs mooring/slip which probably saved some money on the quote.

Erik Cornelison
6th Generation Professional Sailor, First Gen Submarine Sailor.
1986 Standard Rig SW. #5234

Voyager
Master Marine Consultant

Members Avatar

USA
5298 Posts

Response Posted - 12/22/2017 : 00:03:09

I have a policy through the United States Power Squadrons. My town Marina requires $1,000,000 liability for fires and such, which sounds pretty high, but it's what they require.
I've documented the boat's equipment in pictures and lists of gear so if I lose the boat, they'll cover replacement costs for the gear. Radio, GPS, music, porta-potty, lines, anchor, seats, poles, cushions, compass, gauges, you name it, it all adds up.
Cost is about $300, which depends on your rank and education through the squadron. I get a vessel safety check each year per USCG specs. That cuts my cost too.
For us northern sailors, we get a discount because we put the boat in mothballs on the hard for six months.
The discounts are probably worth $150 per year.

Bruce Ross
Passage ~ SR-FK ~ C25 #5032

Port Captain � Milford, CT

Dave5041
Former Mainsheet Editor

Members Avatar

USA
3758 Posts

Response Posted - 01/01/2018 : 17:25:52

I have Boat/US/Geico. I had a claim years ago for a stolen outboard, it wasn't Geico then, with a trouble free response. My premium had been $225 a year with $7K agreed value for the boat and $2.5K for the trailer until I spent $6K on a new aluminum trailer. It went to $235 initially and has now been adjusted back to $229. The non-hurricane season gulf coast rider is now free. I initially paid $20 for that coverage added to the base Great Lakes coverage.

Dave B. aboard Pearl
1982 TR/SK/Trad. #3399
Lake Erie/Florida Panhandle

sethp001
Mainsheet C-25 Tech Editor

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814 Posts

Response Posted - 01/02/2018 : 23:13:47

At this point I have four boats covered with GEICO. Not once have they required a third-party survey. For the Morgan only, they required a self-survey, which I didn't complete but they haven't cancelled the insurance. For all of the boats, they required photographs and recorded me agreeing that the boats were in seaworthy condition. I discovered they will cancel the insurance if you don't send the photographs.

Edited by - sethp001 on 01/02/2018 23:16:32

sethp001
Mainsheet C-25 Tech Editor

Members Avatar

814 Posts

Response Posted - 01/02/2018 : 23:20:59

One more plug for GEICO: although I've never had a boat-related claim, GEICO was generous the two times we had mini-vans totaled in accidents. They didn't take off value for the candy stuck to the headliner, or the red soda stain on the carpet.

odonnellryanc
Navigator

Members Avatar

108 Posts

Response Posted - 01/03/2018 : 09:01:09

I have GEICO, but I only have liability. They seem very fair here, I have the most coverage I can get and I think it is around $200-300 a year.

Dave5041
Former Mainsheet Editor

Members Avatar

USA
3758 Posts

Response Posted - 01/10/2018 : 21:32:37

Boats in my price range have never required a survey for insurance.

Dave B. aboard Pearl
1982 TR/SK/Trad. #3399
Lake Erie/Florida Panhandle

OLarryR
Master Marine Consultant

Members Avatar

USA
3398 Posts

Response Posted - 01/11/2018 : 04:04:02

I recall when I purchased insurance many years ago via Boat US, they required some photos but no survey.

Larry
'89 Robin's Nest#5820, Potomac River/Quantico, Va
http://catalina25.homestead.com/olarryr.html

Akenumber
Navigator

Members Avatar

USA
247 Posts

Response Posted - 01/04/2019 : 17:57:43

Living in San Diego it is very easy to accidently end up in Mexican waters. Boat us used to provide a writer to pretty much Ensenada. Now with boat us/geico. I have to pay. The funny part like 30 dollars extra for all of mexico. Doesn't make much sense, but ok.

Ken
San Diego
84 C25 SR/FK 4116
The KRAKEN

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