Boat Insurance rates almost double from last year.

[Mike Davis]

I have a policy with Geico/Boat US that went from $600 to over $1100 this year. They could not really explain why other than it is state approved. I love the boat, and would like another insurance company. Any suggestions?

[Keith]

I have my 1979 CD30 insured with Amica. It is insured for $20K and the yearly cost is $373. I'm in New England so the insurance cover in the water from May 1st to Oct 31 (6 months) and on the hard the rest of the time. I assume it would be more if I were in the water 12 months of the year.

Keith

[jfischgrund]

Try United Marine Underwriters. I think marine insurance is all they do.

[Carl Thunberg]

Thanks for the heads-up. I, too have BoatUS/Lizard insurance, but haven't received my bill yet. I'll take a close look when it comes.

[Neil Gordon]

I have my 1979 CD30 insured with Amica. It is insured for $20K and the yearly cost is $373. I'm in New England so the insurance cover in the water from May 1st to Oct 31 (6 months) and on the hard the rest of the time. I assume it would be more if I were in the water 12 months of the year.

Keith

What are the liability limits? That could be the really expensive part if you do some damage to someone else's boat and or life.

[Mike Davis]

Liabiliity is $50,000-100,000

[Neil Gordon]

Liabiliity is $50,000-100,000

I'm insured for $21,000, plus $5,000 of personal property, and $500,000 for liability. Total premium (set in September) is $755, through Chubb.

[vsail]

I second Neil, my insurance (Markel Ins Co) for my CD 33 is $733 for the same limits however it also increased about 20% from last season. The problem with switching carriers is the company will request a recent survey. Not sure what I will do if they keep increasing at 20%. After a COVID year these companies have more customers.

[Keith]

I have my 1979 CD30 insured with Amica. It is insured for $20K and the yearly cost is $373. I'm in New England so the insurance cover in the water from May 1st to Oct 31 (6 months) and on the hard the rest of the time. I assume it would be more if I were in the water 12 months of the year.

Keith

What are the liability limits? That could be the really expensive part if you do some damage to someone else's boat and or life.

$300,000 liability, $300,000 uninsured boaters plus I have an umbrella policy that covers auto, home and boat.

[keneasley]

I have Geico Boat US policy issued by: Boat U.S. Marine Insurance - Geico Marine Insurance Company

The Policy Period is: 4/1/2021 to 4/1/2022

I have liability only (no coverage for "Hull and Equipment") that covers (for Each Occurrence) :
Towing - $3,000
Boating Liability - $500,000
Medical Payments - $1,000
Fuel and Other Spill - $997,100
Uninsured Boater - $500,000
The Total Premium is $125.00 which is the same as last year.
I think that this is a real bargain especially the fact that it includes the towing for $3K per incident.
I phoned them to confirm that the towing is included.

My boat is a 1979 29.5 foot Intrepid 9 Meter.

Ken

[Larry DeMers]

I had the exact same problem with Geico Insurance, both for my car and my Boat/US insurance. Been a customer with them for 31 years, same vessel too.
I canceled the car insurance, went to Progressive Ins for the car..saved $465 over the Geico bill. On the boat insurance with Geico, mine went from $386 last year to $800 this year.
Near as I can determine, Geico started a new idea last year. They decided that your credit rating is a wonderful indicator on your piloting and sailing skills, so lets double everyone that has a less than a stellar credit rating, due to lack of turnover in your credit file.
HAH..I am 75 years old, have all my toys lined up just fine, all payed for using cash, not credit...conserving cash otherwise wasted.
Not surprisingly, I have only the house mortgage on my report, and no credit cards open. Soo, hell raise my insurance, as I must be a horrible driver and I must risk life and limb while sailing in thunderstorms..etc. Lord, will greed ever be controlled in this world?
It took 15 minutes to find another company, and sign up with what I needed for insurance at the same as last year. I used National Boat Owners Association at 800-248-3512. Ask for Jeff Berndt.

Geico Insurance victims..watch out!

Larry DeMers
s/v DeLaMer
Cape Dory 30 on Lake Superior