Boat Insurance

Zed · Sep 9, 2015

Texsinbad said:
I recently purchased my first daysailer, 1982 Vagabond 17 Weekender, and I was wondering about boat insurance. The boat isn’t worth that much, but with people suing people for any or no reason, I was thinking that I should at least have liability. I haven’t checked around that much, but I was told that I couldn’t get liability without full coverage.

I was also concerned about having a problem towing—something like Roadside Assistance.

I am looking for any suggestions on coverage and companies to insure with.

Thanks,
Dan

Its like this, Dan.... I asked my insurance broker the same question about my 2003 WWP19. I wanted to know why a boat that was only worth about $15,000 needed $500,000 worth of insurance. And she said, "Well.... when you are on your way in to the dock and accidentally nail the port side of the hull of that $2,000,000 Hinckley Motor Yacht, you are going to be very very happy that you had $500,000 worth of insurance."

I said, "Oh, I didn't think of it like that...."

I have Allstate, and since you don't live in Massawhatsits, that could work for you too. My broker's husband is a lobster fisherman. She knows.

JohnVTX · Sep 10, 2015

I was told by my insurance company, there was no coverage other than liability for a boat over 30 years old. My homeowners covers the liability.

WayneH · Sep 10, 2015

On my 16' and 21' boats, my auto policy covered them. I also signed up for the BoatUS roadside assistance but in nearly ten years, I never needed it. Still it was cheap piece of mind at $14 a year.

T_Cat · Sep 10, 2015

I just got an online quote from progressive. I didn't really play around with it much but you can customize it to get what you need.

rgranger · Sep 10, 2015

I have StateFarm for my home, auto ... everything. I got liability for the boat when on the water... I think it only added about $150/year to my total. I"m not positive about the total but It wasn't much My auto already covered it when towing and homeowners when on the trailer in the yard ...

woodster · Sep 10, 2015

got a quote from progressive on 300,000.00 coverage for 348.00 a year for liability only

DHaranSailor · Sep 10, 2015

I go with BoatUS for my towing and general coverage. Had to use them and they are fantastic and truly are on your side. I think I paid $160 for the year with them and fully covered my boat for $3500 plus the trailer. Glad I did. They also cover as Zed mentioned the other possibilities within that policy.

SFS · Sep 10, 2015

I'd call BoatUS as well. I paid less than $400/year for liability only, with coverage limits higher than the minimum of 300,000. They cover you for environmental damage up to about $840,000, which is (according to them) the limit set by law that you could be charged for a fuel spill or similar.

Sumner · Sep 10, 2015

SFS said:
I'd call BoatUS as well. I paid less than $400/year for liability only, with coverage limits higher than the minimum of 300,000. They cover you for environmental damage up to about $840,000, which is (according to them) the limit set by law that you could be charged for a fuel spill or similar.

The "environmental damage" could be a big thing, especially if you are in the Keys or other areas where you can be fined if you run aground and have to be towed off and the tow boat has to report the situation.

I worried if I was covered with my Liberty Mutual policy and found out I had no coverage for fines imposed on me. I'm changing to something like the BoatUS before I put the Endeavour back in the water. My advice is to make sure your policy does cover any fines that might be imposed on you for running aground or a fuel spill,

Sumner

===========================================

1300 miles to The Bahamas and Back in the Mac

Endeavour 37 Mods...

MacGregor 26-S Mods...

Mac Trips to Utah, Idaho, Canada, Florida, Bahamas

Rick Webb · Sep 10, 2015

Pollution Mitigation and Salvage

These are two important parts of liability coverage that many auto and home owners insurance companies do not provide when insuring a boat even with full coverage. Your boat could sink and they would cover the boat but it would be up to you to pay the mitigation fees and to have the boat salvaged.

Ask your agent to show you in writing where you are covered in your policy many are unaware of the issue unless they are boaters themselves.

Sumner · Sep 16, 2015

Sumner said:
The "environmental damage" could be a big thing, especially if you are in the Keys or other areas where you can be fined if you run aground and have to be towed off and the tow boat has to report the situation.

I worried if I was covered with my Liberty Mutual policy and found out I had no coverage for fines imposed on me. I'm changing to something like the BoatUS before I put the Endeavour back in the water. My advice is to make sure your policy does cover any fines that might be imposed on you for running aground or a fuel spill,

Sumnerhttp://purplesagetradingpost.com/sumner/macgregor-trips-1/macgregor-trips-1-index.html

Well found out after applying to BoatUS that they also don't pay any fines that might be associated with running aground and/or fuel spills.

The liability will help pay to clean up an 'accidental' fuel spill or to retrieve your boat if it sinks and the Coast Guard wants it removed but no associated fines with say a fuel spill or damage to a reef or the bottom.

Also their liability only coverage won't cover you in the Bahamas only in U.S. Coastal waters.

So not sure if I gain anything from switching from Liberty Mutual to them other that a more expensive policy and the expense of another boat survey which they will also require (Liberty Mutual didn't)??

Looks like the safe bet is to stay away from other boats and the bottom

,

Sumner

======================================

1300 miles to The Bahamas and Back in the Mac

Endeavour 37 Mods...

MacGregor 26-S Mods...

Mac Trips to Utah, Idaho, Canada, Florida, Bahamas

Zed · Sep 16, 2015

Sumner said:
Looks like the safe bet is to stay away from other boats and the bottom ,

Sumner

Everybody tries to stay away from dying too. But everyone eventually does no matter what they do to stay away.

LittleCreek · Sep 23, 2015

rgranger said:
I have StateFarm for my home, auto ... everything. I got liability for the boat when on the water... I think it only added about $150/year to my total. I"m not positive about the total but It wasn't much My auto already covered it when towing and homeowners when on the trailer in the yard ...

That's about what I am paying also with the same company, although mine is kept at a marina.