Insuring Your Boat & Agreed Values

[parrothead]

Chances are that if you have your boat in a slip at a marina they will require insurance coverage.

What the marina will dictate is your minimum liability coverage [$500,000 at ours].

Also - we had used BoatUS during our first season, but saved money and got better coverage in year 2 by switching to Nationwide. They offered a multi-policy discount since we have some life insurance with them.

[eric3a]

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[jasper]

I am insured with Farway Marine in Nova Scotia Canada. They insisted that they could only insure for purchase price plus a bit more that theyestimated for extras and added to the purchase price. They didn't do a price/value search as far as I know. However, insurance cost is reasonable at Can $300/year. Cost is for coastal cruising/salt water.

[Frank C]

... The quotes I am getting are nowhere near what you guys are paying... I have no loss and exellent credit, so I am a tad confused. Also I am a pro Captain, so you'd think I'd get a break of some sort even if I don't sail pro anymore?!! ...

Only a marine insurer, e.g., BoatUS, even asks if you've had any training so being a Capt prolly won't help. Fact is, it might increase your premium since you're eligible to work for hire.
BoatUS seems highly averse to insuring in any Hurricane alley. Does Houston qualify??

Since earthquakes aren't a major boating risk, my BoatUS policy is only $200/year, $30,000 Agreed, endorsed for the western USA, inland & coastal. (It was only $165 for coastal-only, before the endorsment).

[Dimitri-2000X-Tampa]

Yea, but you lefties fall off your boats and let them slam into Catalina.

Whenever I get the chance (not much lately), I like to keep my boat out at a new location for a short time if the chance comes up. This only happens if a Marina has empty slips and you can talk them into it, otherwise they will rent to the long termers instead.

But point is that I rented a slip just for 3 weeks a couple years ago and I still had to prove that I had insurance.

[albion]

I went out to the MAC today snow covering it. While I was out there I took a look at my Progressive policy. It says I am covered to sail up to 75 miles off shore anywhere around the coast of USA & CANADA. Boat is covered for up to replacement of $28,000 and equipment IE radio, gps etc $1000. cant remember all the figures for uninsured boater and my liability for others and injury. My years premium is $205.00. Its my first boat and I dont have any experience.I told Progressive all this when I contacted them even down to telling the about a couple of Motoring speeding tickets.I told them I will be sailing on the Great Lakes and possibly some coastal sailing.

[eric3a]

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[delevi]

Eric,

Call these guys:
SEAHORSE UNDERWRITERS
MCGRIFF, SIEBELS & WILLIAMS INS
800-277-6998

Just pulled that off my online bill-pay. $366/yr

[eric3a]

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[delevi]

It was worth a shot. May be time for a new boat? J/K
Good luck.

Leon

[KayakDan]

I got full coverage on my boat,agreed value for exactly what was on my purchase invoice last year,on a new 26M. Boat,motor, and trailer,and $500 in contents as I recall. Total premium $227.00. I do believe there is an exclusion for on water from Nov to March. There is also $400 in on water towing coverage included.
Travelers Insurance through Jack Martin Assoc in Annapolis.
http://www.jackmartin.com/

[beene]

the much more dangerous risk is stupidity...

Wow, it's a good thing my insurance company does not insure against that, I could not afford the premiums

[Frank C]

Gotta admit that this would be a much bigger risk (and benefit) for diesel owners, than for our gasoline outboards, but this might be a consideration if your boat is slipped in a particularly confined bay, or slipped in a marina with hundreds of surrounding vessels:

*** every BoatUS policy includes $500,000 spill-liablility as a named item ....

I'm dubious that a half-mil would go far enough to cover a diesel clean-up in a crowded marina. Anyone with particular insights?

[beene]

The quotes I am getting are nowhere near what you guys are paying... I have no loss and exellent credit, so I am a tad confused

I figured out what it is Eric, they found out that you set the 2 wheel speed record from FRA to ZRH.

They figure, once a speed freek, always a speed freek

[eric3a]

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