Boat Insurance

SkunkBoat · Feb 17, 2021

On my 20 footer I was BoatUS before Geico. Things went up with Geico so I switched to Progressive thru USAA.Then Progressive went up... Then I got the 265. I needed coverage out to the canyons. Progressive stipulated 75nm whereas BoatUS/Geico does not. When I added new motors and shopped around, BoatUS/Geico came in reasonably close to everyone else's 100nm coverage so I stuck with it. Adding new motors caused confusion and a lot of companies I had to talk to a human being in order to up my Agreed value.
My Geico bill actually went down this year.

Shopping insurance is designed to be difficult.

Blaugrana · Feb 17, 2021

Like Skunkboat mentioned above, I have Geico and my premium dropped when I renewed in November. Curious what that means for us when we renew this year and all the talk about premiums going up in NJ.

I did price around with a few and Geico was the best priced.

Ky Grady · Feb 17, 2021

I'm Geico/BoatUS also. My premium is due in mid April. I'll see what they do then as far as up or down.

Halfhitch · Feb 17, 2021

I have Geico/BoatUS also. I chose them because of the agreed value coverage, the offshore distance coverage and the towboat coverage due to having a single engine craft.

Pat Hurley · Feb 17, 2021

“Shopping insurance is designed to be difficult.”

it shouldn’t be ... of all the dumbass course curriculum thought in public schools these days one would think that something that is an everyday requirement for most adults would be mandatory learning but it’s not.

Timbo · Feb 17, 2021

Pat Hurley said:
I write for some of the insurers listed in this thread. Some factors used in underwriting a boat policy include but are not limited to the following... age of the boat, listed users, navigational waters, experience and your credit score. Travelers and Progressive each have a decent product and so does Nationwide. They all underwrite other lines IE. home and auto and afford some discount if you combine. And they offer replacement cost, agreed value and ACV policies depending on age of your boat. One caveat with Nationwide is they don’t have a scheduled lay up period like some others do and no geographical limitations as long as you use the boat in US or Canadian waters as long as you don’t travel more than 75 nautical miles from the shoreline...Additionally you can use the boat 12 months out of the year.

What do you know about “yacht” insurance I have a 282 and my insurance is higher than I expected but their answer was due to the size of the boat it qualifies as a yacht. The cost is more than triple what I pay for my 21’ center and the center is only a year old! Do you have any advise?

SkunkBoat · Feb 17, 2021

Pat Hurley said:
“Shopping insurance is designed to be difficult.”

it shouldn’t be ...

Agree...It shouldn't be.
Not so much the customer's fault as the companies.
They could standardized coverage, limits, category terminology, declaration page formats... but they don't want to.
They want you to compare red apples & green apples & pears & bananas...
The only reason auto liability is somewhat standardized is because "the government" made them do it.

leeccoll · Feb 17, 2021

Agree (2),

Just like trying to shop around for a mattress. No identical labels to price shop from.
I have State Farm...bundle price because I have so many policies with them.

Pat Hurley · Feb 17, 2021

Timbo said:
What do you know about “yacht” insurance I have a 282 and my insurance is higher than I expected but their answer was due to the size of the boat it qualifies as a yacht. The cost is more than triple what I pay for my 21’ center and the center is only a year old! Do you have any advise?

Who is your carrier ? It should be rated as a sport fish or walk around recreational fishing boat.

Hookup1 · Feb 17, 2021

Talk to your agent. My State Farm people gave me a broken out price. And they matched the GIECO quote I gave them.

Pat Hurley · Feb 17, 2021

Hookup1 said:
Talk to your agent. My State Farm people gave me a broken out price. Any the matched the GIECO quote I gave them.

And if your agent/broker is worth their salt they’ll go to bat for you when you have a claim and help you understand your coverage

Timbo · Feb 20, 2021

Pat Hurley said:
Who is your carrier ? It should be rated as a sport fish or walk around recreational fishing boat.

Chubbs

sailUSVI · Mar 30, 2021

Hello all, I’m reviving this older thread.

I’m curious what y’all are paying for your policy’s ( if ya don’t mind sharing), I have 3 quotes from different major underwriters and they range from $1150 to $1601.

Maine is the boating area for 6 months and on the hard for 6 months. Standard policy’s with agreed value of $70,000, never any history of claims, excellent credit score and 40 years of boating history.

The quote is for a 2002 Grady White 282 Sailfish.

Thanks!

steveditt · Mar 30, 2021

We use Travelers for all insurance , they were fantastic when we needed them the most !Its not always the cost its service when needed . Price is also excellent !

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Boat Insurance

SkunkBoat

Well-Known Member

Blaugrana

Well-Known Member

Ky Grady

GreatGrady Captain

Halfhitch

GreatGrady Captain

Pat Hurley

Well-Known Member

Timbo

Well-Known Member

SkunkBoat

Well-Known Member

leeccoll

GreatGrady Captain

Pat Hurley

Well-Known Member

Hookup1

GreatGrady Captain

Pat Hurley

Well-Known Member

Timbo

Well-Known Member

sailUSVI

Well-Known Member

steveditt

Well-Known Member