Insurance Help
- Thread starter 1981ZigZag
- Start date
Not sure what you mean by "place" but we have been with several insurers over the decades and nowadays with BoatUS, and while we have not had a claim, one of the best surveyors in the region strongly recommends them.
(There's probably more than one "right answer" to your question, anyhow.)
Loren
(There's probably more than one "right answer" to your question, anyhow.)
Loren
Insurance as far as coverage for protection / liability requirements at yacht clubs and replacement / damages
Just bought a Hunter Legend and need insurance
Just bought a Hunter Legend and need insurance
I've heard of Lloyds of London? Expensive but world wide coverage, I only need it in U.S.A. waters
Gowrie Group is an agency that will shop on your behalf for the coverage you want at a reasonable price. I have liked their service and continue to use them.
http://www.gowrie.com/
Local and lasting arrangements
It seems many small insurance brokers price out policies with the major carriers. I found 2 in Seattle that priced through Lloyds......... and the prices were competitive against the national firms.
Having never had a claim in the last 25 years I cant speak to todays litigious environment. But I read of many situations.
Since non of us ever want to use insurance Pick one that has a history in your area.
It seems many small insurance brokers price out policies with the major carriers. I found 2 in Seattle that priced through Lloyds......... and the prices were competitive against the national firms.
Having never had a claim in the last 25 years I cant speak to todays litigious environment. But I read of many situations.
Since non of us ever want to use insurance Pick one that has a history in your area.
Boat U.S. is highly recommended. Probably because boats are their specialty. I couldn't tell from your bio, but if this is by chance your first boat, they may not want to cover a 40 footer until you have a couple years of claim free history. If that happens, just go to whoever you have for home and auto insurance. It's likely they will also cover a boat.
I've never bought a boat w/o first getting insurance quotes and prerequisites for the insurance to take effect (if any). Could be really expensive to get a preowned boat "insurable." Good Luck-- I use BOATUS.
Last edited:
When I purchased my boat in 2008, USAA offered coverage through Markel America or Progressive. Markel had the better policy, so that's what I went with.
Over 35' could have limits
This fall I moved my Hunter 380 from Lake Erie to Pensacola, Fl. When I first starting researching insurance, I asked for a quote from Boat US. I had sticker shock when I got a $3200 quote.
This is what I learned:
1. Insurance is very much state to state.
2. From a thread on this site I learned to use "an agreed value" for insurance purposes. Initially I was insuring the boat for what a surveyor said it was worth. I pick a lesser value that would cover my note plus some additional expenses.
3. (I am speaking for the panhandle of Florida) The vast majority of insurance companies, Progressive, Geico included, do not insure boats over 35'. Two I found that did were BoatUS and United Marine Underwriters(sold thru agents). They were both around $1500 and within $100 of each other. I went with UMU b/c of a couple of perks including paying 50% of haulout for a named storm up to $500 and more lenient offshore and Bahama travel. It was a toss up and on a different day I might have chosen BoatUS.
4. Whoever you go with will want a survey and will ask you to comply with the surveyor's recommendation.
Good Luck
This fall I moved my Hunter 380 from Lake Erie to Pensacola, Fl. When I first starting researching insurance, I asked for a quote from Boat US. I had sticker shock when I got a $3200 quote.
This is what I learned:
1. Insurance is very much state to state.
2. From a thread on this site I learned to use "an agreed value" for insurance purposes. Initially I was insuring the boat for what a surveyor said it was worth. I pick a lesser value that would cover my note plus some additional expenses.
3. (I am speaking for the panhandle of Florida) The vast majority of insurance companies, Progressive, Geico included, do not insure boats over 35'. Two I found that did were BoatUS and United Marine Underwriters(sold thru agents). They were both around $1500 and within $100 of each other. I went with UMU b/c of a couple of perks including paying 50% of haulout for a named storm up to $500 and more lenient offshore and Bahama travel. It was a toss up and on a different day I might have chosen BoatUS.
4. Whoever you go with will want a survey and will ask you to comply with the surveyor's recommendation.
Good Luck
Make sure you check the Geico/Allstate/etc policies against a true "Marine" policy. There could be differences in liability coverage for things like fuel spills and environmental damage etc.