Insurance for boats on the hard - Non-hurricane

[dlochner]

Remember, insurance companies are in business to make money. If they thought they could make money by selling short term on the hard insurance they would. Since that kind of insurance does not seem to exist, a reasonable explanation is the companies can't make money selling it.

Every time a new policy is written there are underwriting costs. Churning the policies you have, that is canceling and changing policies frequently makes you an undesirable customer. Insurance companies do share information about customers which can affect how desirable you are as a customer.

This article appeared in the NY Times the other day about shopping for auto insurance. It says a lot about how the insurance companies operate. Since GEICO and Progressive are both auto insurance companies, I doubt the practice is much different for their marine divisions.

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www.nytimes.com

 

[Dalliance]

Go with a full year policy for all the reasons already mentioned. I too have an aversion to Gieco. Long story... Switched to Chubb for a much better policy at about the same price. They required a survey which cost about $600. The quickest route may be adding the boat to your home owners policy, though that might not provide the best coverage.

 

[sailme88]

We have AMICA... They provide Home, Auto, Marine and Umbrella coverage for us. The catch is that they offer the marine coverage only to existing policy holders.. Meaning you'd need to have them insure your home and auto.. This is mutual company, so dividends are issued ( avg around 20%) Full coverage on the boat is a tad over $525 per year before the dividend...

 

[JamesG161]

I currently have Progressive who stated that they don't have a policy for boats on the hard

I am insured on the Hard by Progressive. Plus they will pay $450 to put boat on the Hard for a Hurricane event.

And I am still fully Insured . $1400 / year

You must have a different policy than we do.

Jim...