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Random Quote: You can't save people from themselves
Depends on where you live. If it's Florida, BoatUS is the only carrier I know of. If you live further up north, I don't think St Paul/Travelers can be beat from both a coverage/claims and pricing standpoint. Whatever you wind up doing, make sure the agent you're using is VERY familiar with boat/yacht insurance as this form of insurance is very different than your typical auto policy. You'll find that the further south you live, marine insurance (as well as homeowners) has gotten tougher to find and significantly more expensive. Boat insurance guy...
I sell marine insurance. You dont say what state the boat is domiciled in. If it is Florida, everbody will suffer substantial increases at renewal because of the past claims experience of all of the insurers that write coverage there. If you have had no claims and dont have the boat in Florida, I suggest that you go to an independent insurance broker that can get quotes from several different companies. Beware of the cheapest coverage available. From experience I know that the actual coverage and claims service, if and when you have a claim, generally suffers in direct proportion to the premium you paid. I recommend ACE, Zurich Marine, AIG and Hartford as a few that you might ask your agent to quote. You can contact Progressive directly and save a few bucks, but I think you are better served if you have an insurance agent/broker on your side.
St. Paul/Travelers is the most price competitive in our area. We sell their coverage, but with the proviso that they are the toughest on claims. Sorry but the truth hurts!
Thank you for your input.
I am located in SW Florida, the company which insures me is SeaSafe. The agreed value is $ 195.000 with a windstorm deductable of $ 45k. My premium is $ 2500.00 per year.
Any input would be healpful.
Thank you for your input.
I am located in SW Florida, the company which insures me is SeaSafe. The agreed value is $ 195.000 with a windstorm deductable of $ 45k. My premium is $ 2500.00 per year.
Any input would be healpful.
It's renewal or Lloyds for boats over 30' in So FL.
INSMAN is on the money about coverage and claims. St Paul ani't no saint i could not find any thing Progressive about that carrier but premiun increases with less coverage. I found the best deal was INAMAR/ACE for coverage and rates. I think bluepearl was lucky to find a carrier for the value and location.
__________________ Living in South Carolina, fishing any place. "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf". G. Orwell
I sell marine insurance. You dont say what state the boat is domiciled in. If it is Florida, everbody will suffer substantial increases at renewal because of the past claims experience of all of the insurers that write coverage there. If you have had no claims and dont have the boat in Florida, I suggest that you go to an independent insurance broker that can get quotes from several different companies. Beware of the cheapest coverage available. From experience I know that the actual coverage and claims service, if and when you have a claim, generally suffers in direct proportion to the premium you paid. I recommend ACE, Zurich Marine, AIG and Hartford as a few that you might ask your agent to quote. You can contact Progressive directly and save a few bucks, but I think you are better served if you have an insurance agent/broker on your side.
St. Paul/Travelers is the most price competitive in our area. We sell their coverage, but with the proviso that they are the toughest on claims. Sorry but the truth hurts!
Progressive: Boats 15 years or newer, maximum length 30 feet, maximum hull value: $100K
Great Lakes Re (UK) PLC: Currently writing insurance for most boats 20 years and newer, max speed 75mph, will consider boats in excess of 25 years with current hauled survey. Bahamas & Caribbean mooring or navigation permissable.
ACE Inamar: Boats 5 years or newer, Boats under $500k in Palm Beach and Broward must have a trailer, Dade & Monroe: Minimum hull value: $2Mil , full time crew required.
Travelers: Not quoting/writing any new Florida business.
Travelers (St Paul) Luxury: High value vessels (minimum $1 Mil) Full time professional crew required.
Zurich: Not quoting/writing any new Florida business. Non renewing all boats with Hull values greater than $750K
AIG: High value vessels only (minimum $2 Mil) , Full time professional crew required.
Chubb: High value vessels only (minimum $1Mil), Full time professional crew required
bluepearl - 2/10/2007 8:58 AM Thank you for your input. I am located in SW Florida, the company which insures me is SeaSafe. The agreed value is $ 195.000 with a windstorm deductable of $ 45k. My premium is $ 2500.00 per year. Any input would be healpful.
My McKee is $1200 per year and the Contender is $1500. Amica, if you have perfect credit and zero tickets or accidents. This was the lowest I could find. Boat US was $3500 for the Contender.
I'd say you got it good.
If Sea Tow is super cheap there can't be apples to apples. KnowwhatImeanVern.......
bluepearl - 2/10/2007 8:58 AM Thank you for your input. I am located in SW Florida, the company which insures me is SeaSafe. The agreed value is $ 195.000 with a windstorm deductable of $ 45k. My premium is $ 2500.00 per year. Any input would be healpful.
My McKee is $1200 per year and the Contender is $1500. Amica, if you have perfect credit and zero tickets or accidents. This was the lowest I could find. Boat US was $3500 for the Contender.
I'd say you got it good.
If Sea Tow is super cheap there can't be apples to apples. KnowwhatImeanVern.......
Stay away from Great Lakes Re. The policy is useless due to aggressive depreciation and in effect, you have no coverage if the boat is older. The engines depreciate the slowest so that at 14 years, they are worth $0. Everything else on the boat has already depreciated to $0. Based on my research, the only coverage you will have with Great Lakes is a complete and total loss and even then, my research showed that they generally deny those claims and force the insured to sue them as a matter of policy. All the info I presented above is almost exactly 1 year old so maybe they changed...but I doubt it.
I live in Florida (the part slammed directly by Ivan and Dennis) and I never had a claim. Sold our last boat in October '06 and when we purchased a new one in December of '06 Allstate refused to write a new policy on the new boat. Went to AAA and purchased a better agreed value policy through Progressive for less money than I was paying Allskate.
Boat insurance 
