Anyone have their boat insured with State Farm? I didn't know where else to turn since State Farm also carries my homeowners insurance but I don't know if it's a great policy or not for the sailboat. Any comments? Anyone ever made any claims? Thanks!
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we use it
We just bought a 28 ft sailboat and it is insured with state farm as is our car and homeowners. So far we like them and hopfully don't have to use it. A friend has his 33 ft sailboat off boston and has had State Farm for years, swears by them. Hope this all helps
We just bought a 28 ft sailboat and it is insured with state farm as is our car and homeowners. So far we like them and hopfully don't have to use it. A friend has his 33 ft sailboat off boston and has had State Farm for years, swears by them. Hope this all helps
C
Cliff
I wouldn't advise using them
It is not that State Farm is good or bad as a company. It is that they insure boats as if they were cars. I have heard a couple of horror stories but I have no direct personal experience. I had Safeco a while back and once asked if they would help cover the costs for keeping the boat off of the rocks in an emergency and their answer was "get off and let her sink". That is a good indication of their lack of understanding of boat issues. There are "marine" policies which are a bit more expensive but they understand boats and some of the issues unique to boats such as pollution liability, etc. I know of another guy who had a 50 foot wooden boat which developed some rot problems in his transom. The marine insurance covered it for him. If you are living aboard, there is even more reason to go "marine" coverage. Another story I can relate to State Farm is that they would not cover "personal" items after a fire on a boat when the owner had moved aboard. You might think that having all of your various insurance through one carrier is a benefit but I do not agree. When you need them the most is not the time to discover that the insurance company is not your friend and whatever else they say, they are not. I would say that the most important thing is to consider what kind of boat you have and how will you use it. Ask the agent a lot of questions and see if you get clear, specific answers.
It is not that State Farm is good or bad as a company. It is that they insure boats as if they were cars. I have heard a couple of horror stories but I have no direct personal experience. I had Safeco a while back and once asked if they would help cover the costs for keeping the boat off of the rocks in an emergency and their answer was "get off and let her sink". That is a good indication of their lack of understanding of boat issues. There are "marine" policies which are a bit more expensive but they understand boats and some of the issues unique to boats such as pollution liability, etc. I know of another guy who had a 50 foot wooden boat which developed some rot problems in his transom. The marine insurance covered it for him. If you are living aboard, there is even more reason to go "marine" coverage. Another story I can relate to State Farm is that they would not cover "personal" items after a fire on a boat when the owner had moved aboard. You might think that having all of your various insurance through one carrier is a benefit but I do not agree. When you need them the most is not the time to discover that the insurance company is not your friend and whatever else they say, they are not. I would say that the most important thing is to consider what kind of boat you have and how will you use it. Ask the agent a lot of questions and see if you get clear, specific answers.
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Peter
Patrick's right
Marine insurance is not like homeowner's or car insurance. The legal obligations in the marine environment that you want to insure for are covered by a whole different body of law (Maritime law) that the insurance broker and company must understand to evaluate a risk (you) and your needs. State farm offers the coverage, so they presumably have staff that understands the risks, and writes policies that they have determined will be profitable. But until you have a claim and need the coverage, your only contact with the insurance company is usually thru your broker, who likely is only an expert in the other policies (HO, auto). So you may not be advised to get the coverage you really need. While they're both MD's, would you want your gynecologist writing the RX to treat you for your ear infection?
Marine insurance is not like homeowner's or car insurance. The legal obligations in the marine environment that you want to insure for are covered by a whole different body of law (Maritime law) that the insurance broker and company must understand to evaluate a risk (you) and your needs. State farm offers the coverage, so they presumably have staff that understands the risks, and writes policies that they have determined will be profitable. But until you have a claim and need the coverage, your only contact with the insurance company is usually thru your broker, who likely is only an expert in the other policies (HO, auto). So you may not be advised to get the coverage you really need. While they're both MD's, would you want your gynecologist writing the RX to treat you for your ear infection?
State Farm is fantastic
I was awakened at 5:00 AM by the marina manager telling me that my boat had sustained some damage in an overnight storm. It had 3 holes thru the hull and was an awful mess. I had purchased insurance thru my State Farm agent just 7 days earlier. We contacted State Farm and they authorized pulling the boat to prevent further damage and possible sinking from hidden damage. As the boat was on a Corps of Engineers lake, there were no travel-lift facilities. Removing the boat from the water involved a truck, trailer and crane. That meant a $2100 haul-out. After a thorough survey, the cost of haul-out,repair and re-launch was estimated at $18,516. After the $500 deductible was applied, I had the full $18,016 in my checking account 2 days later. State Farm indicated that if there was hidden damage we could expect to receive additional money for the repairs. It will take exactly 100 years for me to pay sufficient premiums to cover the amount State Farm paid to repair my boat. When I bought my new H-33 I didn't even consider going to another insurance company. I cannot say enough good about State Farm. My premiums for a 2005 H-33 are $578 per year. I have had West Marine(St.Paul) and Boat US insurance in the past and I believe State Farm offers a better policy. Based on the questions they ask on the application and the way they do all of the right things after a loss, I would have to say that they are a very knowledgable and professional marine insurer.
I was awakened at 5:00 AM by the marina manager telling me that my boat had sustained some damage in an overnight storm. It had 3 holes thru the hull and was an awful mess. I had purchased insurance thru my State Farm agent just 7 days earlier. We contacted State Farm and they authorized pulling the boat to prevent further damage and possible sinking from hidden damage. As the boat was on a Corps of Engineers lake, there were no travel-lift facilities. Removing the boat from the water involved a truck, trailer and crane. That meant a $2100 haul-out. After a thorough survey, the cost of haul-out,repair and re-launch was estimated at $18,516. After the $500 deductible was applied, I had the full $18,016 in my checking account 2 days later. State Farm indicated that if there was hidden damage we could expect to receive additional money for the repairs. It will take exactly 100 years for me to pay sufficient premiums to cover the amount State Farm paid to repair my boat. When I bought my new H-33 I didn't even consider going to another insurance company. I cannot say enough good about State Farm. My premiums for a 2005 H-33 are $578 per year. I have had West Marine(St.Paul) and Boat US insurance in the past and I believe State Farm offers a better policy. Based on the questions they ask on the application and the way they do all of the right things after a loss, I would have to say that they are a very knowledgable and professional marine insurer.
J
Jeff D
Freeze
Doesn't apply to the original poster but they will not cover damage from freezing and there is no rider available. If you leave your boat in over the winter you are without coverage if it should sink from a burst seacock or hose. Only insurer I could find was Boat US for this rider.
Doesn't apply to the original poster but they will not cover damage from freezing and there is no rider available. If you leave your boat in over the winter you are without coverage if it should sink from a burst seacock or hose. Only insurer I could find was Boat US for this rider.
I have it
I filed a claim several years ago when I hit a power boat in the rear end in a slip. My outboard motor mount failed and when I put the boat in reverse, the motor lifted up out of the water and I kept going. It did about $600 damage to the stink pot and State Farm paid the claim without any hassle.
I filed a claim several years ago when I hit a power boat in the rear end in a slip. My outboard motor mount failed and when I put the boat in reverse, the motor lifted up out of the water and I kept going. It did about $600 damage to the stink pot and State Farm paid the claim without any hassle.
K
Kerry
Insurance
I am on my third boat insured by State Farm. I had a small power boat sink in a canal behind my house in the early seventies, and they paid for rebuilding a outboard engine, the haul out, and some other thing. I used them for my recent sailboat purchase because they cover up to 75 miles offshore, plus five named Bahama Islands and their territorial waters. This allows me a lot of crusing area without worrying about getting special rider. Oh, they have been insuring boats at least since the late '60's, so I believe they must know a little bit about boater's needs.
I am on my third boat insured by State Farm. I had a small power boat sink in a canal behind my house in the early seventies, and they paid for rebuilding a outboard engine, the haul out, and some other thing. I used them for my recent sailboat purchase because they cover up to 75 miles offshore, plus five named Bahama Islands and their territorial waters. This allows me a lot of crusing area without worrying about getting special rider. Oh, they have been insuring boats at least since the late '60's, so I believe they must know a little bit about boater's needs.
J
Joe Mullee
State Farm Knows Boats
Last statistics I have is as follows: As of February, 2004 State Farm had 1,125,516 active boat policies in force. That was over one year ago but it can't be that much different today. Say what you want but State Farm obviously knows boats. Joe Mullee
Last statistics I have is as follows: As of February, 2004 State Farm had 1,125,516 active boat policies in force. That was over one year ago but it can't be that much different today. Say what you want but State Farm obviously knows boats. Joe Mullee
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liam
good value and good service
Like many others who have responded, I also use State Farm for autos and homeowners. Because of this they give many discounts (also good driver and coast guard auzillery, consequently the premium is 50% less than "boat insureance" companies. I have never had a claim so ???? But I have been doing business with the same agent for many years and the guy has actually given me his cell phone number incase I need him! I think that is pretty good service!
Like many others who have responded, I also use State Farm for autos and homeowners. Because of this they give many discounts (also good driver and coast guard auzillery, consequently the premium is 50% less than "boat insureance" companies. I have never had a claim so ???? But I have been doing business with the same agent for many years and the guy has actually given me his cell phone number incase I need him! I think that is pretty good service!
D
Del Wiese
try Allstata
At least here in Florida, Allstate seems to have the best rates for sailboats. They recognize the speed difference between sail and power, and reflect that in their rates. Problem is that after the hurricane mess we had last September, they are still not writing new policilies. I am going to switch as soon as they open up again.
At least here in Florida, Allstate seems to have the best rates for sailboats. They recognize the speed difference between sail and power, and reflect that in their rates. Problem is that after the hurricane mess we had last September, they are still not writing new policilies. I am going to switch as soon as they open up again.
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Randy
State Farm
I've used State Farm for 20 years, had one small claim and no problem. I would make sure the policy you get is a "Stated Value" policy so you won't be suprised if you have a total lost.
I've used State Farm for 20 years, had one small claim and no problem. I would make sure the policy you get is a "Stated Value" policy so you won't be suprised if you have a total lost.
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Bob
Allstate
Like you I have my cars and house with State Farm, which goes back almost 25 years now. They are a great company, but I elected to go with Allstate for my Catalina 30, because my agent was unsure about large boats! Interestingly, the Allstate agent owns a large Hunter in the same marina and insures a heck of alot of the vessels here. He came highly recommended and the company is supposed to be excellent on claims and assistance. Based on that I would say that in my experience, Allstate was the wiser choice in this locale; however, it may be much different for you. I suggest you shop around and ask other boaters with a similar size vessel, who is the best in your area. Regards Bob Cat. 30
Like you I have my cars and house with State Farm, which goes back almost 25 years now. They are a great company, but I elected to go with Allstate for my Catalina 30, because my agent was unsure about large boats! Interestingly, the Allstate agent owns a large Hunter in the same marina and insures a heck of alot of the vessels here. He came highly recommended and the company is supposed to be excellent on claims and assistance. Based on that I would say that in my experience, Allstate was the wiser choice in this locale; however, it may be much different for you. I suggest you shop around and ask other boaters with a similar size vessel, who is the best in your area. Regards Bob Cat. 30
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