Insurance Costs for E38-200 (1986)?

[wurzner]

Just curious to see what people are paying annually for a similiar sized and year boat. I was paying 60 a month for my 1977 E32 with a gas engine and no survey through progessive. I'm curious to see what I'm in store for with a boat worth more, but it is also surveyed, newer, and has a diesel opposed to a gas engine.

thanks in advance.

shaun

[Loren Beach]

Our boat is shorter than yours, and the insured value wil probably be somewhat less, but kinda sorta close...

Current (August 2005) annual premium is $541.

1988 Olson 34, "agreed value" = $65K.
This is a Boat US yacht policy with P&I = 300K, and Fuel and Spill Liability = 500K. There are more details, but maybe this will prove helpful.

The stated coverage area is between Cape Scott Vancouver Island and Point Banda Mexico, all coastal waters and inland.

Fair winds,
Loren in Portland

[Chris Miller]

We're at just a touch under $500/year with allstate for our '88 E38-200

Chris

[stbdtack]

$500 year, Canada to Mexico. Boat US policy. 1982 E38

[erobitaille]

Got the bill yesterday. $759.00 Boat U.S. Coverage Coastal waters Vancouver Island to Point Banda MX.

[ted_reshetiloff]

Im at right around 750 w/ boat US for Chesapeake bay no offshore, agreed value 80K. 1989 38-200

[Geoff Johnson]

Not all policies are the same; you have to compare coverages. The biggies are whether the carrier will pay only the depreciated value for repairs (as opposed to a total loss) and whether you will be forced to use rebuilt parts (e.g. for the engine).

[NateHanson]

I sometimes run out of patience when trying to wade through those sort of details in a policy-by-policy comparison. Am I correct in understanding that BoatUS is generally pretty good about those details?

How do you guys decide what levels of liability to cover? (for the other guy's boat)

[wurzner]

Geoff,

Your right and some of the folks have provided details which is more meaningful. I'm strictly looking for baseline information. My in-laws are our insurance agents so I could tell you all about policies unless someone on the list is also in the business. One thing worth considering is going with a ballon liability policy that covers everything (house, boat, auto, etc). You can get much more coverage for a very reasonable price and most likely save money because you eliminate liability from your individual policies and use the blanket liabilty instead. The only problem is, you need to have no speeding tickets, DUI's, etc to qualify in general. My wife has a lead foot so everytime we haven't been able to qualify yet. I would encourage you who have clean records to ask your insurance agent about it. As for the replacement issues, that is also a factor as you point out.

shaun

[Kim Schoedel]

Shaun,
I see your address is Seattle. I am an independent Insurance agent in Spokane. There are a lot of variable underwriting requirements that dictate the rates in the State. Lots of choices out there for insurance. Agreed value is important and with a recent survey, you can justify the coverage amount. Liability is very important to protect your assets. You do want to have enough LI incase you hit someone, but just as important, what if your boat has a fire at your marina? Take a quick look at some of the nearest boats to yours and start adding things up. Not a pretty picture. Drop me an email at kschoedel@aiains.com and I will gladly give you some advise-no obligation.
Kim
Windfall
1984 35-3