insurance on sailboats
- Thread starter timtim
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Call BoatUS for a quote. They won't have any trouble. It is really tough to get coverage for more than what you paid for it as they don't want to encourage you to sink it to make money on it. If you definitely want more, you will have to discuss that with them and likely have it surveyed to establish a value.
So I have my boat insured for what I payed for it, about $20K, but the more important part is that it is insured for what I could damage with it, including if I got fined for an oil/fuel spill.
So I have my boat insured for what I payed for it, about $20K, but the more important part is that it is insured for what I could damage with it, including if I got fined for an oil/fuel spill.
progressive insurance ftw!!!
they wont have the S2 in the 'drop down box' on their computer screen/form... they will have to manually enter the info....
hull type, size, beam, etc...
if you are not getting full coverage, then progressive insurance is the best deal... my simple liability coverage is less then $600/year....Boat US will need survey of the boat to get comprehensive coverage....
good luck
they wont have the S2 in the 'drop down box' on their computer screen/form... they will have to manually enter the info....
hull type, size, beam, etc...
if you are not getting full coverage, then progressive insurance is the best deal... my simple liability coverage is less then $600/year....Boat US will need survey of the boat to get comprehensive coverage....
good luck
agent name: Matt Roberts
phone: 919-845-2999
Thanks, I'll talk with him about upping the coverage to $1M
this forum and all of you are great! I did not get a survey, my purchase price on the
S2 8.0 was only a $1,000 , should I get Survey. what is the cost for survey on average?
phone: 919-845-2999
Thanks, I'll talk with him about upping the coverage to $1M
this forum and all of you are great! I did not get a survey, my purchase price on the
S2 8.0 was only a $1,000 , should I get Survey. what is the cost for survey on average?
Bergovey, remember location matters. I'm insured full coverage on an 11.0a agreed value policy for about that with Progressive in the Great Lakes. Age, claims history (overall car, house etc) and credit matter too.Bergovoy said:
My last boat was also with them agreed value of 8k full coverage (no survey) and premium around $250. Both a $500 deductible. I would also ask if you drop the current policy (and are ok with it). Can you get it back if you aren't happy with the new one. I know that is happening with homeowners insurance in FL.
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Survey
If you don't need a survey, the cost of $250-500 is only worth it for a $1000 boat if you get a surveyor that knows sailboats and you need some help identifying what needs fixing. Otherwise you can waste money for some guy who does mostly powerboats who will complain that he couldn't access/inspect the keel bolts (it doesn't have any).
The biggest show stopper for any investment in a $1000 boat, in my opinion, is wet decks. It may be worth having a surveyor come out and moisture meter your decks for a fraction of the cost of a total survey. Or you can buy a meter for about $300 (have to get the type that doesn't need to stick into the material). Alternately you can train yourself on how to sound the deck in about five minutes. Get a plastic mallet or a long screwdriver with a plastic handle. Go to the middle of the fore deck far from any deck penetrations and tap on the deck. That area should be dry. It should sound sharp. Now tap over by your chain plates, the most likely wet area. If it sound dull when you tap it is wet. Tap around until you get an idea of the extent of any wet areas. If it seems extensive, call a surveyor to map the deck for you or buy a meter.
I looked at a boat that seemed a great deal at $10K. It took the surveyor an hour and a meter to figure out that it wasn't worth $5K. In fact it wasn't worth anything to me as a previous owner had installed a buttload of stuff through the decks and didn't install it properly. Subsequent owners had neglected to reseal it and the decks were SOAKED. The owner was a very nice guy and I am sure he never noticed and that the boat is probably sailing to this day, but I bet he ended up donating it as the only solution was to cut up most of the deck to fix it and it really just isn't worth doing that for most people and most boats.
If you don't need a survey, the cost of $250-500 is only worth it for a $1000 boat if you get a surveyor that knows sailboats and you need some help identifying what needs fixing. Otherwise you can waste money for some guy who does mostly powerboats who will complain that he couldn't access/inspect the keel bolts (it doesn't have any).
The biggest show stopper for any investment in a $1000 boat, in my opinion, is wet decks. It may be worth having a surveyor come out and moisture meter your decks for a fraction of the cost of a total survey. Or you can buy a meter for about $300 (have to get the type that doesn't need to stick into the material). Alternately you can train yourself on how to sound the deck in about five minutes. Get a plastic mallet or a long screwdriver with a plastic handle. Go to the middle of the fore deck far from any deck penetrations and tap on the deck. That area should be dry. It should sound sharp. Now tap over by your chain plates, the most likely wet area. If it sound dull when you tap it is wet. Tap around until you get an idea of the extent of any wet areas. If it seems extensive, call a surveyor to map the deck for you or buy a meter.
I looked at a boat that seemed a great deal at $10K. It took the surveyor an hour and a meter to figure out that it wasn't worth $5K. In fact it wasn't worth anything to me as a previous owner had installed a buttload of stuff through the decks and didn't install it properly. Subsequent owners had neglected to reseal it and the decks were SOAKED. The owner was a very nice guy and I am sure he never noticed and that the boat is probably sailing to this day, but I bet he ended up donating it as the only solution was to cut up most of the deck to fix it and it really just isn't worth doing that for most people and most boats.
I have a S2 27' with Farmers with full coverage at 20K and pay less than $200.00, only thing is the trailer is not covered.
Re: Survey
BobM, thank you for the info, I'll tap around and also have a friend with sailboat knowledge
look iher over. Also look into having a survey done. She gets pulled out to boatyard on Monday to have a closer look and to start getting her ready.
BobM, thank you for the info, I'll tap around and also have a friend with sailboat knowledge
look iher over. Also look into having a survey done. She gets pulled out to boatyard on Monday to have a closer look and to start getting her ready.
not connected to my home and auto. I have Erie for those, agent said they won't write it for the sailboat. but they did group my MasterCraft ski boat with home and auto.
I'm new to sailboats, and will ask about fuel spills. Is there a guide sheet to go by for questions to ask and what needs to be included with coverage?
I'm having the S2 8.0B put on the hard to clean her up and inspect closer.
Hope everyone had a nice Thanksgiving and enjoy the weekend
I'm new to sailboats, and will ask about fuel spills. Is there a guide sheet to go by for questions to ask and what needs to be included with coverage?
I'm having the S2 8.0B put on the hard to clean her up and inspect closer.
Hope everyone had a nice Thanksgiving and enjoy the weekend
My big concerns are:timtim said:
1. It is an agreed value policy
2. Covers salvage
3. Covers fuel spills
Here is an article from BoatUS. http://www.boatus.com/pressroom/release.asp?id=657
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I have Progressive on my 27 and they insured it for the loan amount with no survey. Geico was willing to insure it for $10K with no survey, and a little cheaper. But I was lazy and in a hurry so I didn't switch. Next year I probably will.
The big issues /question are is the coverage just liability or do you have full coverage.
What area /location will the boat be?
What or how does the coverage change for named storms and or if you choose our of your normal area.
Do you have coverage of you liveaboard
And of course fuel or environment coverage..
What area /location will the boat be?
What or how does the coverage change for named storms and or if you choose our of your normal area.
Do you have coverage of you liveaboard
And of course fuel or environment coverage..
Storms
Although Boat US is a bit pricey, with all the hurricanes blowing through here it is reassuring to have them. Perhaps it is just advertising and other policies are equal, but the teams that they send out to cover the aftermath of storms are pretty impressive. They do make it sound like other companies make you wait to get paid. Perhaps I will post this on the main page and see what real stories are out there.
One thing...Boat US has coverage of $1000, as I recall, towards hauling your boat before a named storm. In my experience I have never been able to do so because it seems that the Marina owner who hauls my boat (I don't keep my boat with him, it is on a mooring) hauls the boats from his marina first and simply doesn't have the time in that short window before a storm to service any outside customers.
Just something to think about.
Although Boat US is a bit pricey, with all the hurricanes blowing through here it is reassuring to have them. Perhaps it is just advertising and other policies are equal, but the teams that they send out to cover the aftermath of storms are pretty impressive. They do make it sound like other companies make you wait to get paid. Perhaps I will post this on the main page and see what real stories are out there.
One thing...Boat US has coverage of $1000, as I recall, towards hauling your boat before a named storm. In my experience I have never been able to do so because it seems that the Marina owner who hauls my boat (I don't keep my boat with him, it is on a mooring) hauls the boats from his marina first and simply doesn't have the time in that short window before a storm to service any outside customers.
Just something to think about.
Re: Storms
i went with boat us. they know boats and coverage needs. when i updated my equipment i sent them proof and they allowed me to up the coverage. if an insurance co cant figure out the value of my boat haw good are they going to be on paying claims. boat us is in business because of the shortcomings of other insurance companies. when your $200 policy gives you a couple bucks and a song and dance and my $600 policy pays for my loss with no fanfare i guess we got what we paid for
i went with boat us. they know boats and coverage needs. when i updated my equipment i sent them proof and they allowed me to up the coverage. if an insurance co cant figure out the value of my boat haw good are they going to be on paying claims. boat us is in business because of the shortcomings of other insurance companies. when your $200 policy gives you a couple bucks and a song and dance and my $600 policy pays for my loss with no fanfare i guess we got what we paid for
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