Boat Insurance

Jun 3, 2004
241
Hunter 41 DS Punta Gorda, Fl
We are in the process of purchasing a 2005 41 DS. So we have been looking at boat insurance. Currently we have our 376 (now for sale) with Boat US and have been with them most of our boating life. I was quoted a fantastic rate from a insurance broker yesterday from a company called Foremost Marine Insurance group. This rate was half the cost of Boat US. Does anyone have any experience with Foremost Insurance? Thoughts.
 
Dec 2, 1999
15,184
Hunter Vision-36 Rio Vista, CA.
Be sure to check what type of coverage you will have. It may be replacement cost (not so good) or agreed upon value (much better).

Normally we have seen good reviews of owners with BoatUS losses.
 

Sailm8

.
Feb 21, 2008
1,746
Hunter 29.5 Punta Gorda
I have progressive after years with BoatUS. Boats was twice premium of Progressive so easy choice. Their first year price is a come on. The second year and forward, it rises. I have had one claim and it was a minor bit of storm damage which was handled quickly and satisfactorily.

I had a major claim from hurricane Charley handled very quickly and professionally by BoatUS. When my premiums get about equal I will switch back.
 
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CCHer

.
Jul 7, 2010
230
Beneteau 37 Cranes Creek, VA
After Irene, BoatUS which I had been with for many years, raised the premium dramatically though I had never had a claim. Shopped around and ended up with Markel through the IMIS agency for considerably less for virtually an identical policy in terms of coverage. Remains to be seen whether that was a come-on rate. Will find out when the policy renews in October.
 
Oct 1, 2007
1,856
Boston Whaler Super Sport Pt. Judith
A lawyer friend constantly reminds me that insurance companies are not in business to pay claims :)
 
Jul 17, 2014
112
Hunter 23.5 Chesapeake Bay
Another vote for Progressive. They had the best price I could find, but I have never filed a claim so can't speak to their cooperation. And this is for a PWC and a trailer sailboat.
 
Dec 19, 2006
5,809
Hunter 36 Punta Gorda
Progressive

I have been very happy with progressive since I first insured with them back in
07 and did have trouble getting insurance from anyone back in 07 when coming to live in Florida and progressive was the best price after I also did add the 3 cars and motor home and they did give a good discount.
I now have 2 new 2012 cars and the motor home for about 3 months a year and full replacement value for my 07 H-36 and no increases but have not had any claims,but have spoke to other sailboat owners had good service with a claim.
Nick
 
Dec 2, 1999
15,184
Hunter Vision-36 Rio Vista, CA.
Insurance prices are all about location location, location.

Insurance on the west (left) coast is generally much cheaper than on the Gulf or East coast. Hurricanes are a little rare out here.

I think we are paying about $650/yr with BoatUS on an agreed value of $80k.
 
Jun 3, 2004
241
Hunter 41 DS Punta Gorda, Fl
Thanks for all the feedback. I have collected a lot of information on insurance during this process so here is a short summary. Just about all the boat insurance companies are within a few hundred dollars a year of each other except for Foremost Insurance. Foremost Insurance has the worst customer rating hands down. I must of read 100 review and comments on Foremost none good but their price is about half of all the other boat insuance companies.
All but Boat US have milage limits that you can be off shore. So for example Progressive says you cannot be more than 75 miles off shore. If you are beyond that or drift beyond that no coverage. This milage thing is for the US coastal package basically Tx to Maine.
All have riders you can add for the Bahamas and Caribbean the lowest $100 a year the highest $400 a year.

I am a long way from being an expert but I have learned the devil is in the details. If you have Progressive make sure you have Hurricane haul out coverage not all their boat policies do. Boat US you get a lot of other stuff like "Fuel spillage damage" that you may or may not want. NBOA price is right between Boat US and Progressive I got 3 different insurance broker to quota NBOA and each one came in the same. NBOA insurance package include the Bahamas if you pay your annual fee up front and no refunds for canceling.

I could go on but for the few hundred dollars difference in all these insurance companies we have decide to just stay with Boat US for now. Thanks again for the feedback.
 

Kermit

.
Jul 31, 2010
5,657
AquaCat 12.5 17342 Wateree Lake, SC
Thanks for reporting back. Sounds like you really did your homework.
 
Feb 20, 2016
96
None None None
Regarding precautionary hurricane haul out. I can tell you that the people at Progressive have no idea a what you are talking about when you ask them to share the cost. And ultimately, they don't offer the coverage.
 
Jun 4, 2004
1,071
Hunter 410 Punta Gorda
Regarding precautionary hurricane haul out. I can tell you that the people at Progressive have no idea a what you are talking about when you ask them to share the cost. And ultimately, they don't offer the coverage.
This post is 5 years old. Why are you bringing it up? Just to complain about Progressive?