USAA/PROGRESSIVE INSURANCE
- Thread starter Rasselas36
- Start date
I've been a USAA member since I was commissioned in 1962. They are great to deal with for cars, homes and some banking products, but they just don't understand boat insurance. Insure your boat with a company that does. Don't judge or compare companies by premiums. Compare service records. My one and only claim ever in 40 years of boat ownership was for a boat totaled in Hurricane Isabel. BoatUS was my insurer. They were overwhelmed by the number of claims that storm produced. But, they gave me a check for the insured value of the boat in less than 3 weeks.
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I have been completely satisfied with the service I have received from USAA for my homeowners policy and claim. I just thought because of their reputation they would be as professional and competent when I obtained boat insurance from them 11 years ago. Lesson learned.
Chief;
If you want to come to Virginia, you have a place here to visit if you value your life with Crazy Dave. I will be addressing a letter to USAA over the weekend and will post a copy.
If you want to come to Virginia, you have a place here to visit if you value your life with Crazy Dave. I will be addressing a letter to USAA over the weekend and will post a copy.
All my insurance (auto, home, umbrella) has been with USAA for 45 years except my boats (Boat US). I think that tells it all.
Global Marine Insurance Agency came to my rescue. Best coverage and price without any hassles. Jim Stanley was a pleasure to work with.
Hello Rasselas36, I just got a quote from Global. Premium was much lower than other companies. Agent seemed professional so far. Have you or anyone else had more experience dealing with Global Marine Insurance? I am considering buying their policy. Thanks.
I took out my policy with them. Jim Stanley and Tina Matthews are great professionals.
I have had Progressive since 2008 and added the off shore to my policy when I
sailed from NY to Florida with no problem,try calling Progressive directly.
sailed from NY to Florida with no problem,try calling Progressive directly.
Ladies and gents,
It sounds like we have a lot of veterans, like myself, represented here. To all of you, thank you for your service and the sacrifices you made over the years.
So, I was getting quotes on my possible new boat, a Pearson-O'day 290. I currently have progressive on my trailer sailer and have to say they did a stellar job on the damaged rudder I got from that rock I found. But, I was 300 feet out, not 300 miles. That said, can anybody endorse their insurance company? I've checked USAA/Progressive, State Farm, Geico and I've attempted Markel. Does anybody have another that they consider noteworthy that I could check on.
Mainsail,
Will you be at the Boat Builder's Show in a couple of weeks?
It sounds like we have a lot of veterans, like myself, represented here. To all of you, thank you for your service and the sacrifices you made over the years.
So, I was getting quotes on my possible new boat, a Pearson-O'day 290. I currently have progressive on my trailer sailer and have to say they did a stellar job on the damaged rudder I got from that rock I found. But, I was 300 feet out, not 300 miles. That said, can anybody endorse their insurance company? I've checked USAA/Progressive, State Farm, Geico and I've attempted Markel. Does anybody have another that they consider noteworthy that I could check on.
Mainsail,
Will you be at the Boat Builder's Show in a couple of weeks?
As a 30+ year veteran, damn i'm old, of the insurance industry I read this entire post with great interest and honestly a bit of angst.
In my opinion most important and accurate points have been hit on
-Insurance companies like USAA partner with other carriers to offer products, i.e. yacht or perhaps actually watercraft policies as they do not see the necessary return to insure themselves. Keep in mind yacht insurance is a specialized game , yes most of us own boats that would be considered yachts in the insurance world.
-While it may appear that USAA is looking to sell Progressive policies to gain commission income I can say from experience, I have been directly involved in similar relationships, it has much less to do with commission than serving their members. Please don't stop reading and allow me to explain. In the insurance world there is something known as a switching cost, meaning the more painful it is for an insured to leave and go to a new company the greater a chance you will stay with the company, simply put its a pain to move my home, auto, boat, life..... policies. It's all about retaining you as their customer.
-USAA is a top notch carrier, there is not a single measure in the Insurance Industry that most companies are envious of: as, I work for a Direct competitor.
-So what to do, well the entire USAA program came about as desire to meet the needs of their members so you can petition USAA to add a true yacht carrier to their fold of partners, but my guess is they may not have the necessary return as the more cookie cutter nature of auto insurance does not transfer over into the Yacht/Watercraft world.
-I will go back to Peggy Halls early counsel. Find a yacht insurance broker that can shop multiple companies for the one that meets both your insurance and budget needs. While they are specialized brokers they are not rare, we have several within a short ride from my marina on Long Island Sound. Anyone in a coastal state or on the Great Lakes should be able to find several local as well as a plethora of reputable national brokers .
The most important thing I wanted to share is Yacht insurance is not Auto Insurance, there is a host of very unique exposures in the yachting world I would not trust your average call center agent to understand, for example what coverage does your policy have for pollution if your trusty Yanmar starts spitting oil into the wetlands or say what is the duty of the insurer to defend you from a friendly commercial captain who comes to your aid in an emergency then attempts to take ownership of your vessel based on Maritime Salvage Laws?
My opinion/advice the complexities of the insurance most of us need simply cannot be provided by a carrier or broker that does not specialize in it. I encourage you to take the extra time, its really not that much more time, to get the advice you need from people that are competent in yacht insurance as the last thing you want is to find you have the wrong coverage after you have a loss.
Good Luck
In my opinion most important and accurate points have been hit on
-Insurance companies like USAA partner with other carriers to offer products, i.e. yacht or perhaps actually watercraft policies as they do not see the necessary return to insure themselves. Keep in mind yacht insurance is a specialized game , yes most of us own boats that would be considered yachts in the insurance world.
-While it may appear that USAA is looking to sell Progressive policies to gain commission income I can say from experience, I have been directly involved in similar relationships, it has much less to do with commission than serving their members. Please don't stop reading and allow me to explain. In the insurance world there is something known as a switching cost, meaning the more painful it is for an insured to leave and go to a new company the greater a chance you will stay with the company, simply put its a pain to move my home, auto, boat, life..... policies. It's all about retaining you as their customer.
-USAA is a top notch carrier, there is not a single measure in the Insurance Industry that most companies are envious of: as, I work for a Direct competitor.
-So what to do, well the entire USAA program came about as desire to meet the needs of their members so you can petition USAA to add a true yacht carrier to their fold of partners, but my guess is they may not have the necessary return as the more cookie cutter nature of auto insurance does not transfer over into the Yacht/Watercraft world.
-I will go back to Peggy Halls early counsel. Find a yacht insurance broker that can shop multiple companies for the one that meets both your insurance and budget needs. While they are specialized brokers they are not rare, we have several within a short ride from my marina on Long Island Sound. Anyone in a coastal state or on the Great Lakes should be able to find several local as well as a plethora of reputable national brokers .
The most important thing I wanted to share is Yacht insurance is not Auto Insurance, there is a host of very unique exposures in the yachting world I would not trust your average call center agent to understand, for example what coverage does your policy have for pollution if your trusty Yanmar starts spitting oil into the wetlands or say what is the duty of the insurer to defend you from a friendly commercial captain who comes to your aid in an emergency then attempts to take ownership of your vessel based on Maritime Salvage Laws?
My opinion/advice the complexities of the insurance most of us need simply cannot be provided by a carrier or broker that does not specialize in it. I encourage you to take the extra time, its really not that much more time, to get the advice you need from people that are competent in yacht insurance as the last thing you want is to find you have the wrong coverage after you have a loss.
Good Luck
I wish USAA/Progressive had told me all this when I asked about insurance coverage for my boat. They took 11 years of premiums (roughly $1,500 per year) and then told me to "TAKE MY BUSINESS ELSEWHERE" when I asked for the coverage they state online that can be obtained for the asking.
My experience with Progressive has been positive. They have insured my boat at a reasonable premium and they paid my claims after Sandy promptly. Even after they paid to have my entire boat painted, they have not raised my premium. I have not tried to add the additional off shore distance but I would have to say that from my experience with them, I am able to stay with them.