boat us vs merkel insurance

[duality]

i know that the topic was recently discussed of the change of the boat us underwriting. i understand that berkshire is their new choice and has an a.m.best A++ rating.

they just sent me my new policy with a $300 increase.

after the nightmare that boat us has put me thru the last year (see 12v destruction threads) i have decided to get quotes. a new neighbor at the dock is an agent, and has already has a fellow neighbor with ace for a lot less than his previous boat us.

he has proposed "merkel" yacht insurance. they are rated at am best A. the quote is less than half the boat us price!!!!

has anyone used this insurance.

i think an a rating is still good?

what say you?

mike

 

[Don S/V ILLusion]

I think you mean Markel.
My experience with Markel is exemplary with a few claims I've had in the last twenty years.

I choose Markel on the advice of my in-laws who owned an insurance agency and wrote for various marine underwriters.

Markel is not the cheapest but then cheap is never a good measure.

 

[kappykaplan]

I've had Markel since I purchased my boat in 2008. Had no problems with them, and they are quick to respond with policy updates when a cruise takes me out of my home waters.

 

[Rick D]

It's All About The Policy

has anyone used this insurance.
i think an a rating is still good?mike

The rating is mostly about premiums to surplus ratio and the nature of the invested assets plus A M Bests view of stability. But, mostly about the P to S ratio. A is OK. If they had a high concentration of boats along hurricane coasts, I might be more concerned, but that isn't likely.

Around here, the power yacht guys seem to take Markel and the sail guys BUS. There is no take away from that other than habit and word of mouth. I have BUS on the sail and (as I recall) Markel on the pontoon. What I have not done is compare policy provisions. Both underwriters are quality and both are major marine market-share companies, so I'd be comfortable in that regard.

 

[nestorph]

I have had Markel for several years after I ran into idiocy at BOAT US. I won't go into details, but my separation from them was permanent when I received a quote from them that was about 70% higher than Markel's. I lost a boat due to Sandy and Markel's service was exemplary. I highly recommend them.

 

[dscribner]

I see that most of the respondents are big girls. No, wait, I was just going to say something stupid, like "check out Progressive, they were about the same as Boat US but better coverage", but if Markel is less, I'm calling them! Plus my insurance needs as a trailerable are different than boats that are moored.