Boat Insurance

[Steve Kuhar]

I just received my next years insurance bill from Boat U.S. for a policy with an agreed hull value of $36,000. The bill was $1422.00 AFTER applying a $392.00 bonus for no previous claims. I called Geico for a quote for an equivalent policy and after a ten minute phone call I had a binder in my e mail, no survey required for a boat less that thirty years old, billing completed by credit card, all for a total annual premium of $811.00.

I don't know if this information will help anyone, and there may be better deals out there, but it sure seems to be worthwhile to shop around.

Steve Kuhar

P.S. I have no dog in this fight, it is just information for any mamber that it may help. Thanks

[Neil Gordon]

As long as we're going full disclosure, my latest from Chubb is $721 for a stated value of $21,000 and a $500 physical damage deductible. That's for a 1977 CD28. They've covered me for more than 15 years and have never required a survey. Note that insurance rates are not necessarily comparable for different regions.

[Steve Laume]

Boat US $30,000 for $569. It is the only insurance that I own that has ever gone down because I didn't use it or in any other manner for that matter, Steve.

[Bill Goldsmith]

In my experience, Boat US charges a hefty rate for Florida generally. They are pretty competitive in the Northeast, though.

[Keith]

Hi All,

For my 1980 30 cutter in Cape Cod with $25K worth of insurance and a $1250 deductable it is $431/yr from Amica.

Keith

[Sea Hunt Video]

I have only owned two sailboats and thus have limited experience with boat insurance companies.

When I owned S/V Tadpole (1977 Cape Dory Typhoon Weekender) I had her insured with Allstate. At the time, I had everything I owned insured with Allstate (house, truck, U/W video equipment, diving gear, etc.). The agent said Allstate was just starting to insure boats. No one at Allstate seemed to know much about what they needed to issue me a policy. I offered them a copy of the marine survey report I commissioned and they seemed uninterested.

When I took over care and custody of S/V Bali Ha'i (1982 Cape Dory 25D) I no longer had any connection with Allstate. Several insurance companies did not want to insure S/V Bali Ha'i stating "she is too old".

I talked with Boat US and they were about as nice as any insurance company I have ever dealt with. I talked with several different agents and they all seemed to know their business and, more importantly, know boats. I told them I was leaving S/V Bali Ha'i in NJ for the 2011 hurricane season. For this, I got a reduced insurance rate. When Hurricane Irene was moving north in 2011 I had S/V Bali Ha'i hauled and put on jacks. After the storm I got a customer-wide email advising all insureds that if they had their boat hauled for the hurricane to send in paperwork of the haulout and Boat US would reimburse a portion of the haulout fee. I sent in the paperwork and got a partial refund - unexpected, but part of my policy.

When I moved S/V Bai Ha'i to Miami in November 2011 Boat US was easy to work with to adjust my policy to include Florida, etc. Yes, my rate went up but I expected that given that I live in the direct path of "hurricane alley".

My premium is less than $500 per year and she is fully insured at her FMV (not her purchase price) and has $300,000 liability coverage (required by the sailing club) as well as several other coverages (towing, fuel spill liability, uninsured boater, etc.).

"Knock on wood" but so far I am very happy with Boat US. I hope I NEVER have to use them but if I do, at least I think I will be talking with an adjustor who knows something about boats - at least more than I do.

[moctrams]

We have Progressive Insurance on our boat at a price of $155.50. The coverage is comparable to other companies. If I leave the Chesapeake Bay, I’m sure it will go up.

[Dixon Hemphill]

I too have Progressive for $441. and $400. if paid in full. Good coverage and great people to work with. Had a claim several years ago and they came thru in great fashion.

[Ken Cave]

Try Allstate!!

I had my 28 CD with Boat US, and they decided to raise my rate to over $580.00 a few years ago!

I contacted Allstate Insurance and got the same coverage for $200 less, and this covers me from
Alaska to Mexico without all the BS that Boat US wants us to do if we go a certain distance outside
the three mile limit and north to Alaska, which requires additional insurance. I am also covered with
tow, etc at the amount of $300.00.

Sure beats Boats US!!

Ken Cave
CD 28
Dragon Tale
LaConner, WA

[Evergreen]

Good Day:

This past year we switched coverage for Evergreen from Boat US to a Jackline policy because Boat US made it impossible for us to get coverage when we left the USA. The folks at Jackline were as efficient and knowledgeable as those at Boat US and now we have coverage for nearly anywhere in the world (some restrictions apply). All we have to do is notify them of our plans and they will adjust the policy accordingly. We did all our correspondence via the internet which was very nice. The price of the Jackline coverage was nearly the same as our Boat US policy but with GREATLY increased coverage area. Jackline was recommended to us by several serious cruisers and we in turn also recommend them.

As was said earlier regarding this issue: we have no dogs in the fight (love that) --- we are just satisfied customers.

Best wishes,

[Ldybg]

FWIW check your policy. Does your insurance cover Agreed value or Cash value? Is recovery and disposal covered in case of a loss?

We have some club members getting a bill for the recovery and disposal of their boats, a learning experience for all of us.

Dennis