jwallybrown
Junior Member
I am a new 1988 Ericson 28 owner and was wondering if anyone knows what liability insurance may cost?
liability insurance
- Thread starter jwallybrown
- Start date
Boat US will provide a fast quote. I'd say they are the default sailboat carrier, or at least a base line for comparison.
https://www.boatus.com/intuitiveApp/start.aspx?AID=308&AButton=01
https://www.boatus.com/intuitiveApp/start.aspx?AID=308&AButton=01
If you are a new boat owner, Boat US wont insure you (at least they wouldn't provide me a quote - even with documented sailing experience, perfect credit, and perfect driving record). They said to try back after I have at least a year's worth of boat ownership/insurance experience. I ended up going with Travelers. Good luck!
Mark
Mark
exoduse35
Sustaining Member
also check with your home owners insurance. The same coverage as boat US was about half when added by State Farm to my house insurance and they were not near the hassle. Boat US is VERY reluctant to take an older (like 10 years is old to them) boat and will want it beyond perfect to even consider for minimal coverage. Edd
Looks like experiences vary. Boat US didn't hesitate with my old boat, although they wanted to see the survey report.
I know next to zero about insurance, but found Boat US easier to deal with than AAA auto, which insisted on seeing a skiff I once owned, I guess to record any dents.
Insurance may be location intensive, for all I know.
Anyhow, for comparision purposes, here's my current policy through BoatUS. I insured only for hull value at 23K. Let us kjnow if you have a better deal:
I know next to zero about insurance, but found Boat US easier to deal with than AAA auto, which insisted on seeing a skiff I once owned, I guess to record any dents.
Insurance may be location intensive, for all I know.
Anyhow, for comparision purposes, here's my current policy through BoatUS. I insured only for hull value at 23K. Let us kjnow if you have a better deal:
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BoatUS sample policy.jpg
I had difficulty with my auto insurers but BoatUS provided insurance with no problem for my 1987 E35.
The marina just upped the requirement for liability coverage to $500K. This and $800K worth of spill coverage (how can 42 gallons of diesel cost $800K to clean up?) now cost me $600. Probably a lot compared to some folks because of my relatively low experience in larger boats.
The marina just upped the requirement for liability coverage to $500K. This and $800K worth of spill coverage (how can 42 gallons of diesel cost $800K to clean up?) now cost me $600. Probably a lot compared to some folks because of my relatively low experience in larger boats.
An old 40-foot yacht was sinking in a slip near me in Hawaii. We called the Coast Guard station two hundred yards away, who responded with gasoline pumps. Then the owner arrived.
If any oil was pumped out of his ancient bilge, he was financially responsible for the cleanup. If the boat sank, and any oil slick appeared over the hole in the water, he was also responsible. The owner was in effect a near-homeless boating deviant, living abaord off and on and with no close relatives in Dubai--a description that happens to fit several of my most interesting friends, although they are rarely as drunk as he was that night.
Maybe the Coast Guard was just trying to scare him with the official line, which was that he was going to have to pay for all hulls affected by any slick, removal of all particles or sheen, containment booms, jail time and so on.
It didn;t seem to frighten him much, but it scared the dickens out of me. Sounded like $852,000 in charges was entirely possible
If any oil was pumped out of his ancient bilge, he was financially responsible for the cleanup. If the boat sank, and any oil slick appeared over the hole in the water, he was also responsible. The owner was in effect a near-homeless boating deviant, living abaord off and on and with no close relatives in Dubai--a description that happens to fit several of my most interesting friends, although they are rarely as drunk as he was that night.
Maybe the Coast Guard was just trying to scare him with the official line, which was that he was going to have to pay for all hulls affected by any slick, removal of all particles or sheen, containment booms, jail time and so on.
It didn;t seem to frighten him much, but it scared the dickens out of me. Sounded like $852,000 in charges was entirely possible
Local Marine Insurance compainies
Hi, I had good results looking for a local insurance agent. The local company was able to find me a rate less than Boat U.S. for more coverage. If you live in an area with more than 10 boats, there's a pretty good chance you can find an insurance agent who specializes in boats. The company I used was in Chestertown, MD, but Annapolis, Deltaville, or Norfolk will have plenty to choose from.
Good Luck!
-Dean
Hi, I had good results looking for a local insurance agent. The local company was able to find me a rate less than Boat U.S. for more coverage. If you live in an area with more than 10 boats, there's a pretty good chance you can find an insurance agent who specializes in boats. The company I used was in Chestertown, MD, but Annapolis, Deltaville, or Norfolk will have plenty to choose from.
Good Luck!
-Dean
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Two parts of a true "marine" policy that are important throughout the NW in order to keep a boat in any marina are Wreck Removal and Pollution Abatement.
If these are not covered, nothing else matters. (In the last decade there have been a series of disastrous marina fires in the Puget Sound and Columbia River areas - mostly from power boats, but this affected the whole insurance coverage 'climate'.)
As for BoatUS, we have their coverage on our '88 boat and we pay more than Christian, but are covered for a fixed value of 65K. They took our boat without a new survey, but informed me that they can, at random, require a survey at any time.... they pay for and they own that survey. This actually happened to a friend at our moorage -- he had to bring a couple of plumbing bits up to current ABYC standards, and did so with only minor grumbles.
One other point, when a competing insurance company/agent choses to compete with BoatUS solely on the basis of price, i.e. their paperwork looks about the same, but it's less expensive, you need to line up the line-item coverages, side by side and make darned (!) sure that you are getting a true comparison. The devil truly IS in the details.
Rest assured -- You might indeed be getting Actual Comparable Coverage for less $, but watch out for unwarranted assumptions encouraged by an eager agent. Insurance is an ancient and highly nuanced game - not quite the oldest profession in the world - but close.
Cheers
Loren
(opinions rendered hourly, daily, and usually weakly)
If these are not covered, nothing else matters. (In the last decade there have been a series of disastrous marina fires in the Puget Sound and Columbia River areas - mostly from power boats, but this affected the whole insurance coverage 'climate'.)
As for BoatUS, we have their coverage on our '88 boat and we pay more than Christian, but are covered for a fixed value of 65K. They took our boat without a new survey, but informed me that they can, at random, require a survey at any time.... they pay for and they own that survey. This actually happened to a friend at our moorage -- he had to bring a couple of plumbing bits up to current ABYC standards, and did so with only minor grumbles.
One other point, when a competing insurance company/agent choses to compete with BoatUS solely on the basis of price, i.e. their paperwork looks about the same, but it's less expensive, you need to line up the line-item coverages, side by side and make darned (!) sure that you are getting a true comparison. The devil truly IS in the details.
Rest assured -- You might indeed be getting Actual Comparable Coverage for less $, but watch out for unwarranted assumptions encouraged by an eager agent. Insurance is an ancient and highly nuanced game - not quite the oldest profession in the world - but close.
Cheers
Loren
(opinions rendered hourly, daily, and usually weakly)
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Be sure to verify your navigational boundaries. I just re-read my policy and found it to be out of date (getting it revised now). Turns out I was fully insured for the Willamette and Columbia Rivers, while only being insured for the Washington and Oregon coasts, Puget Sound, and British Columbia through 04/15-09-15. Oops... I seem to be well covered on all the other line-items though. I went through an agent who specializes in yacht insurance, located in Port Townsend.
Tip: Keep a sailing log of experience, courses, etc... Travelers Insurance accepted me because I submitted it to them.
Mark
Tip: Keep a sailing log of experience, courses, etc... Travelers Insurance accepted me because I submitted it to them.
Mark