Insurance Premiums

Oct 5, 2016
2
Hunter 46LE Warwick
My premium with BoatUS is going from $1600 to just over $2K in one year. I just got a quote from PANTAENIUS for less that $1,500 with what looks like better coverage. Anyone else with PANTAENIUS??? If so, your comments???
I sail in the North East (RI, NY, MA)
Thanks
 

SG

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Feb 11, 2017
1,670
J/Boat J/160 Annapolis
Does your BoatUS policy have a stipulated value? And, Your new policy has a Fair Market Value?
 
Feb 10, 2004
3,917
Hunter 40.5 Warwick, RI
Be careful that you are comparing equal coverage's. That being said, as a member of the United States Power Squadrons, I found the best coverage and price through that organization. And after the horrible hurricane season that we have suffered, it won't surprise me if rates take a jump.
 
Jan 11, 2014
11,321
Sabre 362 113 Fair Haven, NY
Over the course of the past 2 seasons, my BoatUS insurance premiums went down dramatically the first year and have crept back up this year, but still below 3 years ago.

Have to ask if anything changed in your risk factors? Higher than normal claims in your area? Did your personal risk factors change, things like a DWI? auto accidents? significant change in your credit ratings? Claims on your policy? Claims on your homeowners policy?

As Rich said, make sure the policies are comparable. You might also call BoatUS and talk to them about the rate Pantaeius quoted. One feature of the BoatUS policies is the declining deductible. After 4 claim free years the deductible is waived. On a $100K policy that is a significant amount of money that won't come out of your pocket if you have a major claim.
 
Jul 7, 2004
8,402
Hunter 30T Cheney, KS
As said, the devil is in the details. Make sure coverage is the same. I was able to put what I felt the boat was worth in a total loss with BoatUS, not what the insurance co thought it was.
 
Sep 23, 2009
1,475
O'Day 34-At Last Rock Hall, Md
Boat us is often not the best. I got more agreed value coverage for much less from Allstate.
 
Oct 3, 2011
825
Anam Cara Catalina 310 Hull #155 155 Lake Erie/Catawba Island
we went with Progressive through our agent
 
Apr 8, 2010
1,942
Ericson Yachts Olson 34 28400 Portland OR
You need to have a policy with an "agreed on" value for the boat. Never let the insurer try to tell you what your particular boat is worth.
 
Jun 28, 2005
440
Hunter H33 2004 Mumford Cove,CT & Block Island
Try NBOA Marine Insurance Agency 800.248.3512, my policy through them is with AIG, premium is $451 + membership in NBOA. Agreed value $67,500 with 2% deductible, $5000 commercial towing, $10000 tender coverage with $250 deductible. $300,000 liability, uninsured and underinsured boater, $25,000 personal property w/$250 deductible. With lay-up from Nov thru March. Navigation restricted to coastwise and inland waters between St. John, New Brunswick and Pensacola, FL including the Bahamas. Also $2000/policy $1000/event to move from harm's way under threat of Hurricane or Windstorm. Will pay 50% for haulout/store/launch in general area or to move to safe harbor including docking or mooring fees with no deductible.
 
Dec 1, 1999
2,391
Hunter 28.5 Chesapeake Bay
In over 40 years of boat ownership, I've only had one insurance claim. It was to BoatUS for damage to my boat in Hurricane Isabel. Hundreds of boats in my area/marina were damaged. Everyone was making claims. I had a qualified BoatUS surveyor look at my boat and, to make a long and painful story shorter, they settled my claim in about 3 weeks. Friends with other insurance carriers were still trying to get service months later. While premiums are important, claim service must also be an important factor to consider.
 
Sep 6, 2011
10
Beneteau Oceanis 373 Starr, SC
Besides BoatUS, how many of the other insurance companies include $800,000 coverage for cleaning up a diesel spill should your boat be involved in a wreck and/or sink? Probably none of them.
 
Nov 29, 2012
34
Is your carrier even an Admitted one? Meaning it’s assets protetected by an Insurance Guarant ee Assn? Then yes what is your Carriers AM Best rating? Anything below A+ XII is not strong enough. Now! What are the comparable terms of each policy?
 
Nov 6, 2006
9,884
Hunter 34 Mandeville Louisiana
Check with Hub International .. Good agreed on coverage.. I have not had a claim since a lightning strike in '98 or so.. they were quick and accurate and easy to deal with back then at our local New Orleans office.
 
Oct 12, 2015
29
Hunter 34 Channel Islands Harbor
My premium with boat US jumped up 33% in one year. Never had a claim and I boat in California. I shopped around with several other companies but many won't insure you if you live aboard. I'm not a insurance expert but wouldn't a boat catastrophy such as sinking at the dock or burning down if it was unattended ?
 
Oct 12, 2015
29
Hunter 34 Channel Islands Harbor
What I meant to say in my poorly written comment is that a boat left unattended would be more likely to have a issue than if one is aboard to attend to it immediately.
 

jviss

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Feb 5, 2004
6,745
Tartan 3800 20 Westport, MA
I have a question. We recently discovered that our dinghy is not covered when we are towing it. Only if it's in use, is on board, or at the dock. Anyone familiar with this kind of exclusion?
 

jviss

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Feb 5, 2004
6,745
Tartan 3800 20 Westport, MA
Besides BoatUS, how many of the other insurance companies include $800,000 coverage for cleaning up a diesel spill should your boat be involved in a wreck and/or sink? Probably none of them.
Why do you say that?
 

jviss

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Feb 5, 2004
6,745
Tartan 3800 20 Westport, MA
I should have been more verbose, and precise. I asked why, because I am not sure my liability coverage of $500,000 applies to environmental clean-up. I have a clause that indicates I'm covered for up to $10,000 per occurrence for environmental fines.