I have a Hunter 1980 Cherubibi, 37 ft. First boat I've owned. Got an insurance quote of $1,660/yr. Is that reasonable?
Insurance rates
- Thread starter mjmercer19248
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Not reasonable in Northern California, but probably okay in Fl.
We have insurance with BoatUS for an agreeded upon value of $80k and pay around $600/yr.
We have insurance with BoatUS for an agreeded upon value of $80k and pay around $600/yr.
Also, a lot depends on what you want.
I am insured under a line item with my AAA home Owner's insurance. Big $5000 deductible for the $22k insured value of my boat. The cost is about $275/yr. Covers lot of liability also more since it's piggy-backed with the umbrella coverage also with AAA. Liability is what I want more than comprehensive so I am OK with my choice.
But I doubt that if I have a incident such as the rudder fail and a $8k damage to rudder and maybe something else that AAA will cover any of the repairs even the $3k above the deductible.
Big difference from marine insurance such as BoatsUS which from what I have read is great at covering all sorts of incidents that cause damage to the boat. But also, the $'s are more. And the boat has to pass a survey with flagged items corrected. The cost of the survey and corrections can get high.
One item that I am concerned about with AAA is reimbursement for environmental fines. If say that rudder fails and it causes me to t-bone the raw end of an old pipe that is sticking out of the water and my diesel tank is ruptured spilling 15 gallons of fuel into the bay. I might find myself the recipient of a huge Coast Guard fine. BoatsUS will cover this. AAA just says "don't know our coverage until it happens". Small risk though so I'll stay with $275/year.
I am insured under a line item with my AAA home Owner's insurance. Big $5000 deductible for the $22k insured value of my boat. The cost is about $275/yr. Covers lot of liability also more since it's piggy-backed with the umbrella coverage also with AAA. Liability is what I want more than comprehensive so I am OK with my choice.
But I doubt that if I have a incident such as the rudder fail and a $8k damage to rudder and maybe something else that AAA will cover any of the repairs even the $3k above the deductible.
Big difference from marine insurance such as BoatsUS which from what I have read is great at covering all sorts of incidents that cause damage to the boat. But also, the $'s are more. And the boat has to pass a survey with flagged items corrected. The cost of the survey and corrections can get high.
One item that I am concerned about with AAA is reimbursement for environmental fines. If say that rudder fails and it causes me to t-bone the raw end of an old pipe that is sticking out of the water and my diesel tank is ruptured spilling 15 gallons of fuel into the bay. I might find myself the recipient of a huge Coast Guard fine. BoatsUS will cover this. AAA just says "don't know our coverage until it happens". Small risk though so I'll stay with $275/year.
Reasonable for Florida. Boat US told me if I went north of the border into Georgia, they would cut my cost in half. Nother cut available once into the Chesapeake. In Florida, we not only have hurricanes, but all kinds of boat theft rings and insurance scams. Only 90 miles to Cuba, only 45 to the Bahamas.
Like the others, I downplay boat value in favor of liability in order to keep costs down.
I have had my 84 Cutter insured with progressive $40K complete coverage, include cleanup if diesel spill were to occur. $654 per year for the last 6 years no increase.
I'm with State Farm in Alabama and have been and will remain so forever. Two huricanes and total repair and laibility costs greater than the value of the boat. Anual premium $733. $100K liability, insured value $34K, $500 deductible. In Katrina, my boat did $15K damage to the docks. Got a paint job and a new rudder.
And here we go again. YIPES!!! Isaac!!!!
And here we go again. YIPES!!! Isaac!!!!
Only $100k Liability?
Richard, you're getting away cheap... My marina (Almar) requires $1m for liability. $100k won't go too far if my boat should takeout a few surrounding boats and part of their dock...
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