Anybody have problems with BoatsUS Marine Insurance?

[dennisp]

Well, I did open a hornet's nest. Looks like there's some real dislike for BoatsUS and for their insurance. I've had no claims in nearly 10 years I've had them. Deductibles were down to nothing (well, no claims - guess I'm lucky there) and, with no activity other than a yearly payment, I was pretty much out of the loop. I went to BoatsUS initially because USAA (ex-military officer and have always had homeowners' and auto and such with them...40+ years) tried to pass me off to State Farm or such when I went from a trailer-sailer 24' Hunter to the current 30' small cruiser in 2007. Anyway BoatsUS was much better in 2007 than State Farm so I've been a customer. This last year the BoatsUS insurance bill with Geico just looked to me like the took away my "No Loss Credit" of $185 that I've been getting for the past years. That $185 was what disappeared under the Geico billing, and that was the exact amount of my proposed increase! Someone above said for me to talk to them. I did several times to no avail...but then I finally got to the manager of the BoatsUS insurance division and after a back and forth (I asked him to review my past claims (none), past payment history (immediate and full payment when billed) and asked him to review my sailing/boating training (VA Boaters Safety course in 2007 that should have been in their records - I sent it in with that year's initial bill to BoatsUS insurance...and I sent them copies of my FL Boating Safety Card, and my ASA Training Courses completed (ASA 101,103,104, 105, 114). After a review, they actually came back with a bill that was about $30 less than my insurance last year! I gladly accepted and sent in a check...and thanked them, and will look to see what happens next year. This just to pass on that (1) persistent effort to ensure they were familiar with the proposed increase as I saw it and (2) that they did have all relevant information on file for my situation, equipment and experience level - this all assisted in adjusting the rate to my satisfaction. This just FYI.

 

[dlochner]

Dennis

My experience with BoatUS is opposite yours. My premium went down about 15% this year with an expanded coverage area. Other coverage remained about the same.

 

[SFS]

At the risk of beating a dead horse, I am extremely curious. Did you, at any time, ask them to rate your policy as if it were new business (i.e., as if you had just walked in off the street and they had never heard of you)?

 

[bawlmer]

I have always had Boat US for my sailboats. This year they raised my premium by 14.00 (356.00 total) and increased my coverage area from the Chesapeake bay to the entire Atlantic coast in the US. Not that I would ever use it though. I have a hard enough time getting past the Key bridge. For my powerboat I had progressive which was cheaper.

 

[ifmdalvey]

I have always had Boat US for my sailboats. This year they raised my premium by 14.00 (356.00 total) and increased my coverage area from the Chesapeake bay to the entire Atlantic coast in the US. Not that I would ever use it though. I have a hard enough time getting past the Key bridge. For my powerboat I had progressive which was cheaper.

Why if you never leave the Chesapeake do you pay for insurance covering the whole Atlantic coast? If you greatly decrease your cruising area, particularly to the south, i would expect your premium to decrease.

 

[dlochner]

Why if you never leave the Chesapeake do you pay for insurance covering the whole Atlantic coast? If you greatly decrease your cruising area, particularly to the south, i would expect your premium to decrease.

My coverage area went from the Great Lakes and inland waterways to the Great Lakes, inland and coastal waterways US an Canada with a decrease in premium.

Insurance rates are based on actuarial tables, not logic tables.

 

[GGordonWoody]

I'm with State Farm....

Aye, SF. Now, if I could just get our fine Commonwealth to send me one registration form for the lot...arrrr. I spend more time renewing registrations than I do imbibing, just not right...

 

[bawlmer]

Why if you never leave the Chesapeake do you pay for insurance covering the whole Atlantic coast? If you greatly decrease your cruising area, particularly to the south, i would expect your premium to decrease.

I didn't ask for the increase in geographical coverage. They just gave it to me. From other posters it looks like Geico decided geographical restrictions don't make much of a difference. Besides if I ever decide to throw it all away and sail South it would be one less issue to deal with.

 

[Rick Webb]

My USAA (not Progressive) premium went down this year

 

[NotCook]

We had BoatUS yacht policy for about 10 years in the Great Lakes, and found it to be the lowest available option for us, due to our steel construction and value. Our only gripe was that they paid claims to some local powe boat owners who claimed (falsely) that paint overspray from our vessel got in their gel coat, requiring a new paint job. Unlikely, since we didn't spray paint and they were 50 meters away from our vessel. But, they didn't eliminate our no claims discount, either. It was the principle of the thing - paying frivolous claims to make them go away - that I objected to.

We also had an occasion to use the unlimited towing while crossing the notoriously shoaled Erie Canal. They paid something like $1500 for the (outrageously unreasonable) towing fee, no questions asked. My gripe there was the outrageous fee by the tow boat for less than 2 hours effort, including trailering his boat both directions. Not bad wages for a morning's excursion.

We would probably still have BoatUS insurance if they covered the USVI, but neither they nor USAA's Markel do, so we have Lloyds now at twice the price.

 

[MattObjects]

When we bought our Rafiki 35 last year, we tried to get an insurance policy through BoatUS. We used a BoatUS-approved surveyor and sent them a copy of the survey, which said the boat was in fine shape but noted a few minor things that I should attend to as time permitted: checking the fuel level in the tank, changing the engine impeller, changing the engine oil, sanding and oiling the teak decks, and re-bedding a few pieces of deck hardware on which the original caulk was intact but dry around the edges. BoatUS responded by saying they would not issue a policy until I sent them proof that I had paid to have each of these issues addressed. I asked why on earth I would pay someone to check my boat's fuel level, etc. when I could do it myself, but they insisted that they needed proof a professional had addressed each of these areas.

I thought the person with whom I was speaking must be nuts so I asked for her supervisor and then that person's supervisor. Even after speaking with the person in charge of the underwriting department for recreational marine policies, the story was the same. They actually told me they could not insure a boat if the survey said deck hardware needed to be re-bedded because they did not want to be responsible "if the deck falls off the boat." To this day I wonder how they imagined old caulk under a cleat would result in the deck separating from the hull.

After three days of dealing with BoatUS to get an insurance policy, I called Progressive. I had a policy within 15 minutes and it cost $400 less/year than what the BoatUS policy would have been. A week after that I got a call from the "underwriting review" department at BoatUS offering to sell me a "dock policy" that would cover my boat only so long as the boat remained tied to a dock. Since that would pretty well defeat the purpose of having a boat, I very politely suggested that they go #^*% themselves.

 

[ITMaster]

Why dont you call them and give them a chance to correct a potential error?

Because that won't do any good. I know from my own experience and I have had my policies with them since 2000. All insurance companies are basically a rip off, starting with the healthcare industry.