I know homeowner's insurance covers boats up to a certain length. I also seem to recall that homeowner's insurance is pretty much standardized across all the states. But what is the boat length at which homeowner's insurance no longer applies? What is the length that requires a separate policy for the boat? I'm interested in both liability and loss insurance.
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Check with your agent
Bill: I would check with your agent about your coverage. These policies are usually substandard as far as marine coverage (replacment cost and depreciated cost). BoatUS has policies that are Agreed upon Value. We have our H'31 covered for $35k for about $260/yr. They give you a discount if you do not file claims and from what we have heard they make quick settlements when there is a loss.
Bill: I would check with your agent about your coverage. These policies are usually substandard as far as marine coverage (replacment cost and depreciated cost). BoatUS has policies that are Agreed upon Value. We have our H'31 covered for $35k for about $260/yr. They give you a discount if you do not file claims and from what we have heard they make quick settlements when there is a loss.
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Frank Pratt
Coverages
Some carriers will allow you to extend some liability coverages from from their homeowners policies, if you elect that coverage by notifiying your agent and paying an additional premium. This coverage is usally limited to low value and low speed vessels. Engine size is generally an outboard less then 15 hp. Since each state regulates its own homeowners policies it's best to check with your local agent. Marine insurance falls outside of most state jursidiction and as such relies upon the time honored (and court tested) definitions that started with the shipping industry at the Lloyds of London coffee houses. One thing to remember about Marine Insurance is that coverage is not bound by most agents. It is only in force when an underwriter has accepted the risk and a premium has been paid.
Some carriers will allow you to extend some liability coverages from from their homeowners policies, if you elect that coverage by notifiying your agent and paying an additional premium. This coverage is usally limited to low value and low speed vessels. Engine size is generally an outboard less then 15 hp. Since each state regulates its own homeowners policies it's best to check with your local agent. Marine insurance falls outside of most state jursidiction and as such relies upon the time honored (and court tested) definitions that started with the shipping industry at the Lloyds of London coffee houses. One thing to remember about Marine Insurance is that coverage is not bound by most agents. It is only in force when an underwriter has accepted the risk and a premium has been paid.
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Michael
Boat US
I have a Boat US policy (I have no relation to them other than as a client). I have just worked with them on a claim and they have been great. Can't speak for anyone else, but they were quick and fare with me.
I have a Boat US policy (I have no relation to them other than as a client). I have just worked with them on a claim and they have been great. Can't speak for anyone else, but they were quick and fare with me.
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Bill and Nancy Berg
We've had both Home and Marine
Usually we carry our Homeowners boat policy (thru Allstate for about $200 for 30K) but some years we take out an International Marine policy thru Zurich ( about $350) when we plan to take the boat to Mexico. I have compared prices and coverage for international and this beats any others.
Usually we carry our Homeowners boat policy (thru Allstate for about $200 for 30K) but some years we take out an International Marine policy thru Zurich ( about $350) when we plan to take the boat to Mexico. I have compared prices and coverage for international and this beats any others.
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Bill
Great Preminum Steve How?
Steve you have a great value. I also insure a 31 '84 with BoatUS for 25k coverage and my preminums are $580 a year. I think a lot has to do with your location, were in the Flordia Panhandle. Also, this was my first year to insure even though I have been sailing for 30 + years.
Steve you have a great value. I also insure a 31 '84 with BoatUS for 25k coverage and my preminums are $580 a year. I think a lot has to do with your location, were in the Flordia Panhandle. Also, this was my first year to insure even though I have been sailing for 30 + years.
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Ed
Don't rely on homeowners
I wouldn't rely on home owners to cover a boat anywhere. Especially on the water. I had on sitting in the house's yard when a tree limb fell on it. The home owners wouldn't even cover that.
I wouldn't rely on home owners to cover a boat anywhere. Especially on the water. I had on sitting in the house's yard when a tree limb fell on it. The home owners wouldn't even cover that.
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Ward
My Auto Insurance
My auto insurance company covers my boat for $240/year My declared value is $25k and it is called an "all risk" policy. What the policy says basically is they don't care what happened to it. If it is destroyed or sunk or lost they will write out a check for $25k minus $500 detuctible. The company is Allied and the boat is an h27 in Iowa. Ward
My auto insurance company covers my boat for $240/year My declared value is $25k and it is called an "all risk" policy. What the policy says basically is they don't care what happened to it. If it is destroyed or sunk or lost they will write out a check for $25k minus $500 detuctible. The company is Allied and the boat is an h27 in Iowa. Ward
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David
Steve
Is that a miss print on your insurance post or is the premium for less than a year? $260 for 35K agreed value?
Is that a miss print on your insurance post or is the premium for less than a year? $260 for 35K agreed value?
$260 per year.
David: This is for the entire year. I think the policy is slightly higher than what we paid, but they give us a discount for not filing a claim. The check we wrote for the year was $260 for the $35k agreed upon value. You folks that live on the 'Right' coast are plagued by much different weather conditions. One of them is called Hurricanes. The other thing is that our boat is in the inland waters of the California Delta. Even though we are connected to the San Francisco bay (about 50 miles on the water) we are really not subject to ocean conditions. We had Allstate for several years. Turned in a couple of claims and they denied them. They never paid us a penny on a claim in over 20 years of having boat insurance with them. They started raising the rates and we switched to BoatUS. It was NOT because of the actual rates, but because we felt it was a marine insurance policy. Allstate knows nothing about boats and marine insurance. They just like to collect the premiums. They are just a fine company for cars and homes, in my opinion.
David: This is for the entire year. I think the policy is slightly higher than what we paid, but they give us a discount for not filing a claim. The check we wrote for the year was $260 for the $35k agreed upon value. You folks that live on the 'Right' coast are plagued by much different weather conditions. One of them is called Hurricanes. The other thing is that our boat is in the inland waters of the California Delta. Even though we are connected to the San Francisco bay (about 50 miles on the water) we are really not subject to ocean conditions. We had Allstate for several years. Turned in a couple of claims and they denied them. They never paid us a penny on a claim in over 20 years of having boat insurance with them. They started raising the rates and we switched to BoatUS. It was NOT because of the actual rates, but because we felt it was a marine insurance policy. Allstate knows nothing about boats and marine insurance. They just like to collect the premiums. They are just a fine company for cars and homes, in my opinion.
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Crazy Dave Condon
suggestion
Even though I have been a sailboat dealer for many years, I use to be an adjuster and pilot as well. Therefore, let me brief you. Getting insurance through a homeowners policy will not cover all situations to include falling trees in some cases. In some, you may have limited liability and in todays world that may not be enough. As for med pay, that may not even be covered. What about comprhensive, theft, fire and so forth? I have always recommended getting the marine policy as in many cases you are covered up to $300,000 liability (includes towing in most cases) or more, comprehensive, collision,fire, theft, med pay and so forth. I have seen on $30K yearly payments of appx $200 to $350 for full coverage which is cheap as incidents of sailboats is far less than power. Shop around. Sometimes you can get a discount if you have passed a safety course for example with the Coast Gaurd aulillary and if you have all your insurance with one company. Also, the higher deductible will lower the price but if financing a boat, you will be limited to either $250 or $500 deductlibe. HOpe that helps Crazy Dave Condon
Even though I have been a sailboat dealer for many years, I use to be an adjuster and pilot as well. Therefore, let me brief you. Getting insurance through a homeowners policy will not cover all situations to include falling trees in some cases. In some, you may have limited liability and in todays world that may not be enough. As for med pay, that may not even be covered. What about comprhensive, theft, fire and so forth? I have always recommended getting the marine policy as in many cases you are covered up to $300,000 liability (includes towing in most cases) or more, comprehensive, collision,fire, theft, med pay and so forth. I have seen on $30K yearly payments of appx $200 to $350 for full coverage which is cheap as incidents of sailboats is far less than power. Shop around. Sometimes you can get a discount if you have passed a safety course for example with the Coast Gaurd aulillary and if you have all your insurance with one company. Also, the higher deductible will lower the price but if financing a boat, you will be limited to either $250 or $500 deductlibe. HOpe that helps Crazy Dave Condon
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