Liability Insurance on an older boat

Winkfish · May 14, 2013

I've got Progressive. Reasonably priced, and they've given me good service.

caguy · May 14, 2013

I had progressive for liability for a few years. Very easy to get online. Switched to AAA two years ago. Same liability plus replacement and tow for same price.

Ross · May 14, 2013

I use Progressive for my 1968 Islander 30

RECESS · May 14, 2013

1981 Pearson with Progressive. Agreed upon value for my boat and liability. Very happy with it so far. Had BoatUS, got tired of being at the mercy of who I got on the phone may or may not know what they are doing.

Daydreamer · May 14, 2013

I am currently using Sea Safe / Ski Safe through Geico for my 1975 Oday 22

300k liability (marina requirement) and 25k medical runs me $177 a year with a four month lay up. I pull the boat out of the lake for winter storage.

JoeWhite · May 14, 2013

On 1984 my 25.5 Hunter I paid nothing and it was automatically covered with my homeowner's policy - State farm insurance.

Erieau · May 14, 2013

Homeowner's (Liberty Mutual) wouldn't cover a boat "older" than 7 years (!). I shopped it to a local broker who covered it under Premier Marine Insurance.
Maybe bring your business to a local broker?

Dean_Wilson · May 14, 2013

My home insurance would cover, but if over 25 years old, required a survey.

Sumner · May 14, 2013

Joe vandenEnden said:
Homeowner's (Liberty Mutual) wouldn't cover a boat "older" than 7 years (!)...

Strange....we have both boats with Liberty Mutual, liability only. The Mac (1990) is on the homeowners and the Endeavour (1981) is a separate policy. I've been with them since the 60's with the car insurance part. I've had the house with them for some time,

Sum

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Our Endeavour 37

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Benny17441 · May 14, 2013

I don't think Marine insurers are interested in just underwritting liability. They do come up with some dumb excuses but that is just their way of saying they are not interested in offering a coverage they might be required to provide. Good luck with your search.

Patrick S/V Shangra-La · May 15, 2013

I've got progressive and have actual cash value for the boat and liability. Saved $300 a year with he A C V option

Mike B1026 · May 15, 2013

Keep in mind, insurance also varies by state laws.

I use Progressive and have been very satisfied. Personally I think dealing with a local agent isn't what it's cracked up to be. The people I have talked with over the phone have always been very knowledgable. Many times local agents don't have a clue and have to phone the insurance company to get an answer. Sure, you might not get a free calendar from the local agent every Christmas but I like getting answers from the source. A typical local agent is selling a variety of types of insurance and many times multiple companies. Coverages also change yearly. You can't expect them to be able to answer all of your questions, worse still is if they think they know, then later you find out they were wrong.

Since I haven't had any claims, after 5 years my deductible dropped to zero. The phone agent suggested I switch to a $5000 deductible, since I don't have to worry covering it. That saved a bunch. They also said to lower all my coverages to state minimum when I have it setting on my trailer and just call them to raise them back up, when I'm actually going out sailing. Again, a big discount since it spends 90%+ of time on the trailer.

It's also a good idea to call right before it's time to renew and ask about ways to save money. Many times they will come up with some creative answers.

As far as staying with one company of years and years, I can't see it. I would at least check around every few years you might realize you have been paying too much. You just have to be careful that you are comparing apples to apples. A company that was competitive ten years ago, probably isn't going to be competitive today.

By the way, I was a licensed agent for 30 years and have dealt with quite a few companies. It was a secondary business for me but I do have some experience dealing with insurance companies.

rardiH36 · May 15, 2013

Although this topic comes up "anew" every so often, it is always good.

I also just do liability. In my case with AAA as a added line-item on my homeowners' policy. Plus if total loss, my ~$20k purchase price is covered less a large deductible. Annual cost is very reasonable.

However with info of the previous posts, I will check out Progressive.

Although I am confident that AAA will do the main stuff, a concern of mine is reimbursement of environmental fines in the case of a collision or sinking, or if my boat drifts into a protected wildlife area, and the authorities decide to issue a (or more) several K$ citation for (say) the 15 gallons of diesel in my tank, some of which has spilled. When I ask AAA about this, I get the run-around. I think the mentality leans towards the non-marine side. Sort of like your auto insurance doesn't reimburse you for the citation that is issued when you might make a mistake in a car collision. And will AAA reimburse for the recovery and demolition costs if my boat ends up on a beach somewhere? None of this is spelled out in my homeowners' policy.

Boats US and other marine specific insurance carriers understand that these marine specific issues aren't the same as for a car. And they cover. Does Progressive?

Mike B1026 · May 15, 2013

Progressive Boat insurance info

http://www.progressive.com/boat/boat-insurance-coverages/

(details of different coverages on left side)

rgranger · May 16, 2013

I have my house, cars and boat (liability only) with State Farm.

Manureva · May 16, 2013

i had the same issue, i am now insured with skippers plan for agreed value and liability, 200 buck a year no survey needed

Chris Patterson · May 17, 2013

Today.

This years boat is about through, and I should be kicking it in the creek in about a week. So I tell Lovely Bride, (the one of us that happens to be smart), to insure the boat. (Not a Catalina). So she calls boat u.s.
Unbelievable. The first thing that they told her was, according to their "research", or whatever they called it, that the boat had a 50 horsepower engine.
Say what?
That had to be the most profoundly stupid something to say, coming from a boat insurer that I could imagine. I'm still trying to visualize a 50 horse motor in this boat, and pulling a water skier. After patiently explaining that it is technically rated at 27 horsepower, (It's a Westerbeke 30B Three), and I built this engine myself, I'm real confident of what it is. Now we're cookin'.
Well being the type of person that she is, wife wants to go with a "fuller coverage". She's paranoid. And seen me drive. Anyway, they want a survey on the boat. And not only that, one of THEIR recommended surveyors. We don't have time for that crap, so I said forget it, no problem. I have a long standing policy of never owning a boat I can't eat anyway. But who knows, if somebody ran off with it, or it was killed by a bunch of drunks on a power boat, I would have got back a couple of bucks for the old gal. But nix the replacement value, etc, etc.
But wait. They want a survey for liability.
Say whut again?
Now correct me if I'm wrong here people. But what bloody damn difference could it make what kind of shape MY boat is in, prior to selling liability insurance. I think it's fair to say that the boat is no junker, and is highly regarded. I even have the gold card membership with these people. (I'll bet THAT's about to change).
Now I don't have to have any insurance at all. But it would only be fair if I had one of those days, and tore up some skippers pride and joy, I just think that it is in good form.
So she called Progressive. Wow. WHOLE different story. We, (she), agreed upon a replacement cost, and had the option to adjust many, many things. Was never "hard sold". When wife would ask, they advised her until they were both good with it. Not one time during the course of this entire transaction did the bride have to call me with a question. (Bearing in mind, that every time my phone rings during the day, a patience notch slips). I may even regret this in the morning, like the time I dated Big Lulu. But I'm happy now. And their insurance may suck, I don't know. Right now, I'm not even sure that I care.
Because they didn't %$@# with me about it. I couldn't care less what it costs..

frmreilly · May 18, 2013

Without a doubt Hagerty - insured for agreed value - specifically designed for older boat. Best of all, when Sandy killed my boat, Hagerty paid in full, on time, as promised.