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birchs
Deckhand

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USA
1 Posts

Initially Posted - 01/16/2005 : 13:00:33

Hello All,

I have a 1985 Catalina 25 and I'm looking for a good deal on insurance for sailing the Texas Gulf Coast, what underwriter offers the best coverage with economical options?

Edited by - on

aeckhart
Master Marine Consultant

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USA
1709 Posts

Response Posted - 01/16/2005 : 14:35:45

I use USAA out of Houston, TX. Great company, excellent insurance and service. I pay $184 per year.

Al
GALLIVANT #5801

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ClamBeach
Master Marine Consultant

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3072 Posts

Response Posted - 01/16/2005 : 17:41:00

"Boats US" insurance is one of the standards in the marine insurance business.

I've used 'em for about 15 years now. You can get an insurance policy 'online' which is pretty darn convenient. I think I pay in the neighborhood of $120 per year for insurance and membership. The membership gives you a pretty good newsletter, marine interest 'lobbying', resource lists with discounts (towing services, marinas etc. and yada yada)

Seems like I saw a recent post.... that the Catalina 25 National Organization has a reduced membership rate with them... about to renew for the coming year so I'll have to look that up.

At any rate, see http://www.boatus.com/ for more info.

Edited by - on

Lightnup
Master Marine Consultant

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USA
1016 Posts

Response Posted - 01/16/2005 : 18:08:11

I also saw a recent post whereby someone mentioned saving quite a bit on insurance by joining the U.S. Power Squadron and getting insurance through that organization.

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Ben - FL
Admiral

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880 Posts

Response Posted - 01/18/2005 : 10:55:58

My insurance is through Progressive because all the vehicles were and they gave me a discount. Also, as mentioned, being a member of B/US or US Power Squadron shoould get you another discount. You can also take a course and receive a certificate from the US Coast Guard Auxilary that helps with discounted insurance. I used my USCG Aux cert and B/US membership and had two discounts. But I think I was only supposed to get one. Somebody just counted them both.

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At Ease
Admiral

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672 Posts

Response Posted - 01/18/2005 : 13:59:08

My insurance company will insure my boat, as long as it is less than 35' and less than 50hp, under my home owner's policy.

Bert

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Wildcat
Deckhand

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24 Posts

Response Posted - 01/18/2005 : 14:57:15

I would check with your home owners insurance also as my boat is covered that way. It doesn't cost anything more.

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Jeff McK
Captain

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USA
389 Posts

Response Posted - 01/18/2005 : 15:13:16

I had heard something about most homeowners insurance being inadequate for vessel loss & liability. Check the fine print. It would be a bad thing to find out the coverage wasn't there after the fact.

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Frank Hopper
Past Commodore

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Pitcairn Island
6776 Posts

Response Posted - 01/18/2005 : 16:00:23

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Jeff McK
 I had heard something about most homeowners insurance being inadequate for vessel loss & liability. Check the fine print. It would be a bad thing to find out the coverage wasn't there after the fact.

<hr height="1" noshade id="quote"></blockquote id="quote">
State Farm only gives you $1000 in liability on a boat under 26'. That is not coverage to me!!!

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Champipple
Master Marine Consultant

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USA
6855 Posts

Response Posted - 01/18/2005 : 16:20:43

I'm with ACE. I think we pay in the neighborhood of 270 a season (don't remember for sure have to check - the payment is due in September and I filed that already) and that insures the boat for 10 and the outboard for 1, plus covers racing which not all policies do, anybody who operates my boat with my permission along with the liability and medical stuffs. Its also a replacement value policy, which means that if something breaks, I get the replacement value of that something up to 10k. Many policies are market value policies, so be sure to look into that aspect. (i.e. if your 10 year old mast breaks, you get the depreceated price of a 10 year old mast, not the 3 grand it will cost you to get a new one made)

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Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 01/18/2005 : 20:27:16

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by fhopper@mac.com
 <blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Jeff McK
 I had heard something about most homeowners insurance being inadequate for vessel loss & liability. Check the fine print. It would be a bad thing to find out the coverage wasn't there after the fact.

<hr height="1" noshade id="quote"></blockquote id="quote">
State Farm only gives you $1000 in liability on a boat under 26'. That is not coverage to me!!!
<hr height="1" noshade id="quote"></blockquote id="quote">
It's not--unless you don't mind possibly losing your home and most of your earnings for the rest of your life. Damage to your boat won't break you, but damage to somebody else very well could. If you're "covered" by homeowners, check the liability limits closely. My boat is covered by the same carrier as my home and car, so my umbrella liability policy covers all three.

Edited by - on

Doug
Captain

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USA
457 Posts

Response Posted - 01/19/2005 : 00:06:20

The homeowner's policy is not intended to insure your boat. At best you'll get minimal liabilty coverage, but no coverage for your boat. I have a regular boat policy from State Farm that covers the boat and contents for about $15,000. I also carry an umbrella liability policy that provides a million in extra liabilty coverage + legal fees. Think we pay less than $200/ year for both of these. I cannot begin to stress the value of an umbrella liability policy. You would be amazed at how easy it is to find yourself liable for a huge liabilty bill: You drift into the side of a million dollar yacht. Your forward hatch breaks when a guest steps on it and they break a hip. Your BBQ starts a little fire that takes out a dock and a few boats. While motoring in you don't see the kid or scuba diver swimming where they shouldn't be and you hit them with your prop. Your boat breaks free from it's moorage and ends up on a beach, leaving you with both a ruined boat ($10,000) a salvage & disposal problem ($8,000) and a pollution clean up bill ($10,000). Anyway, you get the picture. Those of you that are counting on your HO policy to handle it all are living too dangerously.

Edited by - on

At Ease
Admiral

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672 Posts

Response Posted - 01/19/2005 : 18:47:56

My HO policy gives me the same liability coverage that my house has, so that is not a problem. The other coverage for the boat is limited to $1,000 (less any deductable)...which is not much. So it depends on your ins co, they are all different, and how much of a gamble you are willing to take if anything happens to your boat.

I also carry the $1m umbrella coverage mentioned earlier.

Bert

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Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 01/19/2005 : 19:02:26

Bert: Be careful about what's considered "liability". If you were invoiced for $250,000 by EPA for a fuel spill (cleanup plus statutory charges), will your homeowner's policy consider that "liability" and pick up the costs? A marine policy will--specifically. If an uninsured boater runs into your boat, will your homeowners cover it (and any injuries) because he can't? (Auto policies cover that kind of thing, but generally not homeowner's policies.) If your homeowner's policy doesn't declare those coverages, then you probably aren't covered for them. As with most other things, you get what you pay for and vice versa.

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At Ease
Admiral

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672 Posts

Response Posted - 01/19/2005 : 20:34:54

Dave...thanks for the thoughts. My insurance co told me they'd cover virtually anything in the area of liability. Also, what the HO policy would not cover the umbrella would cover. For me this is all irrelevant...last year I sold my 1984 C25 and bought a 1997 C320, it, of course, has it's own policy.

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Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 01/20/2005 : 21:00:01

Good. Final thought: It's not what an agent tells you--it's what the policy says--precisely. I know people who have learned VERY painful lessons about that. For example, an EPA fine might not be interpreted as a liability judgement--the liability insurer could very likely stand on that distinction. Also, uninsured boaters are not uninsured motorists. Good luck trying to convince the insurer that they are. And my umbrella policy covers boat incidents ONLY if I have a boat policy--otherwise, fuggetaboutit!

Furthermore, many home/car/life insurance agents DON't KNOW THESE THINGS--they often know almost nothing about marine coverages, but their companies do!

Bert is covered now--anyone else needs to be careful. It's not worth saving a couple of boat units a year.

Edited by - Dave Bristle on 01/20/2005 21:08:47

thacket3
Navigator

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USA
101 Posts

Response Posted - 01/21/2005 : 16:08:28

I just got my renewal for 2005 from Boat US. Policy doubled to $615 per year. Ouch!

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Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 01/21/2005 : 17:03:29

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by thacket3
 I just got my renewal for 2005 from Boat US. Policy doubled to $615 per year. Ouch!
<hr height="1" noshade id="quote"></blockquote id="quote">
WHAT?? My new one (October) from them was $347--also in increase. What are your coverages? You might want to do a little shopping...

Wait... You're in Miami! That probably 'splains it. Never mind...

Edited by - Dave Bristle on 01/21/2005 17:04:56

thacket3
Navigator

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USA
101 Posts

Response Posted - 01/22/2005 : 11:36:21

Yup, those hurricanes last year made a difference. They have also included a "named storm" deductible. Oh well.

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