Boat Insurance

[Orbweaver]

The other thread warning about boat insurance has me thinking. I've never had boat insurance and reading through the other thread raised some questions for me, things that I didn't know I didn't know. I got a quote from Progressive (Through USAA) for my Hunter 26.5 with an agreed value. It's not cheap (~$400/yr, but I guess I hadn't really considered the costs to salvage/remove a sunken vessel. My thinking was more along the lines of "If my boat sinks it'll hurt the budget but not sink us financially. If I need the liability side that would be the potential risk that I'm looking to mitigate". So, I'm looking for some advice on what policy provisions are useful/necessary? What should I avoid?
Right now the plan is to leave the boat in a slip for the summer, and it'll be stored on the trailer at my house for the winter.
Thanks in advance!

 

[sail sfbay]

You need to make sure the policy includes fuel spill liability in addition to liability associated with damage to other boats and our marina.

 

[rgranger]

You need to make sure the policy includes fuel spill liability in addition to liability associated with damage to other boats and our marina.

That’s what I got on mine plus injury to crew etc.

 

[mtarcher1]

It may be prudent to shop around a bit...I got quite a range of quotes for the same level of coverage and ended up going through my homeowners insurance for the best rate. My coverage is fairly standard liability, fuel/oil cleanup, and even towing....for less than half your quote, on a C22.

 

[sail sfbay]

Just to be clear this amount is $939,000, which is the current pollution/fuel spill legal limit.

 

[Joe]

Call BoatUS . Also, the marina you slip your boat in will have a say in what coverage you incorporate. You'll most likely be required to include them as an "additionally insured" which shouldn't cost extra. (at least with Boat US) Plus the normal liability stuff which includes damage to other boats, marina structures and (most importantly) environmental/catastrophic events. My policy with them is written by GEICO. It's about $20/mo for an agreed dollar amount. (no appraisal). The "collision" or agreed upon value will be where you can save some money. The liability side, like I said, will pretty much be dictated by the marina and the state.

 

[sesmith]

I insure ours through Boat US (Geico) and have also gotten quotes through Progressive (via USAA). You will notice your progressive quote does not have a separate line item for environmental spill / cleanup like a Boat US policy does (maybe a consideration for you). I also found my Boat US policy cost less than the quote I got from Progressive. Do get the agreed hull value coverage rather than actual cash coverage.