Insurance for a 330 express

Dhmako2

Dhmako2

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Model
Express 330
I would like any thoughts in insurance brokers for a 2009 330 express? I used to have Boat US for many years but when they switched to Geico they doubled my rates and double billed me without notification. I cancelled that service on my Mako. I am preparing to purchase an 2009 330
 
Dhmako2 said:
I would like any thoughts in insurance brokers for a 2009 330 express? I used to have Boat US for many years but when they switched to Geico they doubled my rates and double billed me without notification. I cancelled that service on my Mako. I am preparing to purchase an 2009 330
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I'm using Progressive with a USAA discount. They came in cheaper than the BoatUS/Geico and they offer coverage out to 125 vs 75 miles? I believe...
 
I use Boat US for my 2009 330. Have used them since 1984. When I purchased my 330, I contacted Nationwide to see if adding the boat to my home and auto would be a benefit. They could not come close. Way more expensive, less benefits. Don't forget the unlimited towing for $125.

Just my thoughts.
 
I verified...With Progressive there is an add on ($150) loss coverage out to 125 nm. Standard coverage is to 75nm. As I remember, Geico was more expensive and didn't offer that and limited coverage to 75nm.


FYI, renewing the Boat/us unlimited towing at the boat show was $99. I'm told by the lady at West Marine that she can give that deal too.

Of course, unlimited towing still only covers out to 20nm
 
Try NBOA, the previous owner of my boat pointed me to them after a ridiculous quote from Boat US/Geico. - I switched to to NBOA and could not believe the difference from what Boat US (Geico) was quoting (and i have homeowners and auto through Geico). Simply put, they insured my 2007 330 express with brand new engines for the same amount that I was paying with Boat US for my 2005 265 Express, also with new engines at the time. Both boats were at agreed upon values for true market value for replacement (I do not cut corners with the insurance) and with the 330 I even added an extra 10K on personal/fishing gear on top what was already included.
 
I have been with NBOA Marine Ins Agency in Sarasota using Travelers for couple years.

You might know or As pointed out above- There is agreed value insurance or ins. based on actual worth, market value (if totaled , sunk, lost or whatever) .. The agreed value is whatever reasonable price you want to put on it . If you have agreed value policy your premium should be around 1 % of the agreed price. Example $50k =$ 500/yr

For towing you cant beat the $99 sea tow or towboat plans, they take care of everything and you never see a bill or have to pay up front .I was with my neighbor who used it last year. easy peasy
Also even if your on someone else's boat that boat is still covered for tow the towguy told me last year.
 
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Mine is 1.3% of my agreed value. I think its reasonable, they might look at other things too. Maybe location, credit score? ?
I would be interested to see how you make out with that.
I remember getting a small discount for it being on the hard from Dec-Apr. and I don't trailer it.
 
Jeanette Elaine said:
Mine is 1.3% of my agreed value. I think its reasonable, they might look at other things too. Maybe location, credit score? ?
I would be interested to see how you make out with that.
I remember getting a small discount for it being on the hard from Dec-Apr. and I don't trailer it.
Click to expand...

Submitted last night. Haven't received a quote yet.
Interesting that they asked about "layup" period, which for me is 6 months also. Neither Progressive nor Geico consider that.

I'm at 4% of agreed but subtract $150 from premium for "outside 75nm" and it puts me at 3.25%.
Dunno what I might have that you don't. I own a house outright and credit score doesn't go any higher.
Maybe NJ is just as crazy for boat insurance as car insurance:mad:
Maybe your agreed value is much larger and they have a scale? I kept it low (until I buy new motors).
Here's Progressive on a $20K value for comparison with several discounts applied.
There is $1000 Fishing gear coverage for $15 premium not shown on this page

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I'd go with an agreed value policy. I have Markel Insurance Co. been happy with them. Have not shopped it in a while, never a claim and only small increases over the year.
 
Whenever the insurance companies get hit with big claims for damage, the rates tend go up the next year. I had a big bump after Sandy and only increases since then.The bad weather doesn't have to be in your area either.
The only way I keep the increases to a minimum is to lower my agreed upon value amount to a realistic value considering depreciation.
 
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I use Allstate and I think my premium is around 1200-1300 annually. I'm super happy with their service. I recently had to make a claim and they had me a check in less than a week. I had an incident when I had geico and they were a nightmare to deal with.
 
Checked my policy $150K on the hull agreed value with a $1500 deductible. Motors separate $25K. $1,150 here in the peoples republic of MA.
 
Try Gallagher Charter Lakes - they were 2/3 the cost of NBOA, apples to apples. Nice to deal with as well.
My contact is

April Cook-Balech
Account Executive

110 Channel Marker Way, Suite 102 | Grasonville, MD 21638
888-879-2248 | 410-827-7750 | 410-827-7055
 
Seems to be big discrepancies in premiums, just like with my motorcycles.
I could tell you stories!
Bottom line, shop around.
 
yes, but shop apples to apples. as stated only an agreed value policy is my suggestion. otherwise if the worse ever happens your amount will be whittled down 9 ways to Sunday.
 
With those limits, I hope that you have a good umbrella policy. $2500 in medical won't get anyone out of the ER, much less admitted to a hospital. And $100K in bodily injury might not even cover legal expenses, if you really hurt someone, and get sued.
 
NBOA for my 33. Actually for all the boats I have had/do have. I pay up for their unlimited tow policy and have had to use it. The only difference is you have to pay the bill and they repay you. The check was waiting at my house after I finished my 5 day trip that included 2 tows equaling 1,800.
 
Comparing insurance rates can be tricky. Policy pricing take into account variables not directly related to the boat data. Your automobile driving history including violations can play a major role as can insurance run rates ( your history of claims on autos and boats). Another factor that can affect rates is your credit score..
There is also data out there that would lead one to conclude that folks who pay the premiums in full as opposed to in installments, actually get charged more. You might think that having used the same insurance company for a long time would result is lower rates but the opposite may be true.
 
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