Insurance

[Crazy Dave Condon]

Does anyone have insurance thru USAA and how would they compare to others?

I know when I got a quote for the home and cars in North Carolina, they beat out everyone. It did help being a former military officer.

crazy dave condon

 

[kappykaplan]

USAA doesn't insure boats directly. When I was shopping for boat insurance through USAA, they offered Progressive and Markel America. My house and truck are insured through USAA.

 

[Terry in Naples]

After phoning boat us they reviewed my status and called and lowered my premium to $1800. It paid to question the high price. They also have new underwriters.

 

[Claygr]

Yikes - that's super-expensive for a C34. We were paying $600 a year from Boat U.S. for our 1989 C34 but we're in the Great Lakes.

 

[Anonymous 121765]

Terry,

I agree with Claygr, that's FAR too much to pay. Here in Florida, we HAVE higher rates.
Something doesn't ring true here......

CR

 

[rfrye1]

FWIW. I pay $800/yr for my 1998 Hunter @ $85k. I carry $3500 ded. I am moored in San Diego Bay. Still using ACE thru broker.

 

[Terry in Naples]

I am thinking about this and maybe i pay 2x what you do up north because i am sailing 12 months a year not 6 or 7. There is no haul out, lay up time over winter here in sw florida. I am waiting for the new policy to arrive and will then see where they reduced.

 

[reworb]

I am thinking about this and maybe i pay 2x what you do up north because i am sailing 12 months a year not 6 or 7. There is no haul out, lay up time over winter here in sw florida. I am waiting for the new policy to arrive and will then see where they reduced.

You're paying twice what I pay and I'm 30 miles north. As I said early in this thread your rate seems very high even when your factor in the ages of our respective boats.

 

[Anonymous 121765]

Terry,

I agree with Reworb, in that you are paying too much.
Not all reps are created equal in their knowledge for getting you the best policy pricing. Your 1988 boat is 26 years old. Your total hull loss should be adjusted to fair market value. There is a maximum depending on age. This should be revamped every two years downward.

Extra add-ons like instruments etc. should be taken off the policy. Then there is raising your deductible. My policy minus no-loss credit = $569.31/yr. My boat is 34 years old & my total hull value I dropped to $15,000.00, No add-ons. Your fair market value should be around $31,600.00 ( http://www.boats.com/boat-content/nada-guides/ ).

If ever selling your boat, the buyer will whittle you down a bit from your asking price. Add to this a broker's commission if using one, then readjust your total hull value. This is just my opinion. The only figures not included are "sweat equity". You know, all the hours spent working on your boat. Unfortunately, this is never added to the hull value. If I were you, I would re-evaluate my figures & re-vamp your policy.

CR