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Thread: INSURANCE (Combined threads)

  1. #1
    Principal Partner jkm's Avatar
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    Lightbulb INSURANCE (Combined threads)

    Time to renew my insurance.

    My policy for my 73 35-II is with Zurich.

    $ 900 deductible with $ 30,000 replacement value.
    Annual rate $ 740.00

    How does this compare?

    John
    John Mc Manamy
    Penguin
    35'-2 #277
    Venice Beach, Ca

  2. #2
    Principal Partner Chris Miller's Avatar
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    Very comparable to allstate in the chesapeake... ours is a little cheaper for more replacement value, but we're not in CA.
    Chris Miller
    S/V Sequoia
    1988 38-200 Hull #262
    http://svsequoia.blogspot.com/

  3. #3
    Principal Partner
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    Try Progressive

    Jkm,

    You may consider getting a quote from Progressive - may save you about a hundred or so...

    Regards,
    Stanly

  4. #4
    Principal Partner Keith Parcells's Avatar
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    Boat U.S. Insurance

    John,
    Our policy is through Boat U.S. It is $418/yr for our E33 with a $42 credit for no loss claim = $376 for this year.
    $400 deductable and $40k value.
    Between the insurance companies & the oil companies, they have us by the......you know what I mean!
    Keith Parcells
    1983 E-33
    Hull #24
    Rocinante

  5. #5
    Principal Partner
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    I had the best luck going through the same company that has my car and home policies - Liberty Mutual. I haven't had a chance to take a close look at the policy details and compare it to the yacht-specific insurers. I'd think that stuff would be more important on a boat I was going to venture further from home in. This one's not going to be travelling more than a hundred miles from home.

  6. #6
    Sustaining Member chtaylor's Avatar
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    I pay about $240 per year with AAA.

  7. #7
    Principal Partner treilley's Avatar
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    Apples and oranges

    When quoting, please specify whether it is a boat policy or a yacht policy. Big difference between the two in both coverage and cost.

    My Amica yacht policy is $996.00 minus an annual dividend(usually about 20%). Deductable is $892.00(unless total loss). Policy includes $52.00 education discount and unlimited towing. Replacement of $44,600.

    So I pay 996.00 minus my dividend which was $195.00 last year minus $100 I would have payed BoatUS for their "unlimited" towing, my policy costs me $701.00 last year.

    This is from a company that consistently ranks in the top 1 or 2 in customer satisfaction. And the best part is there are no agents to deal with. I talk to the company directly. They also insure my home and autos and I have had some claims and they were absolutely a pleasure to deal with.
    Tim R.
    Living aboard in Portland, Maine
    TKR on a boat Blog
    Boat Projects and Photos
    -----------------------------------------------------

  8. #8
    Principal Partner
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    Could someone explain the yacht policy/boat policy difference? Mine is a Yacht policy through Liberty Mutual.

  9. #9
    Principal Partner treilley's Avatar
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    Many insurers differentiate between boat and yacht policies based on boat size and value. The primary difference between the two is how they pay out. A boat policy is based on actual cash value while a yacht policy is based on agreed value. A boat policy is more like an auto policy. If you have a total loss they pay you what they think your boat was worth before the loss. A yacht policy has agreed value where in a total loss, you get that amount no matter what your boat's worth may have been before the loss. A boat policy will usually cover you for year round use and have considerations for a trailer. A yacht policy will have specific layup periods and navigation limits. My policy states a layup period of 12/1-5/15 and a navigation area from Eastport, ME to Key West FL.

    HTH
    Last edited by treilley; 08-03-2007 at 06:29 AM.
    Tim R.
    Living aboard in Portland, Maine
    TKR on a boat Blog
    Boat Projects and Photos
    -----------------------------------------------------

  10. #10
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    Gottcha. Thanks

  11. #11
    Principal Partner jkm's Avatar
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    Good information.

    Turns out mine is also a yacht policy but has no lay up period.

    Navigational Limits are Point Conception to Pt Santo Tomas, Mexico.

    Thanks for the info. Just like to compare with others.

    John
    John Mc Manamy
    Penguin
    35'-2 #277
    Venice Beach, Ca

  12. #12
    My last insurance ran $430 per year for $28800 value, with towing, personal effects liability etc. on top.

    I got what I paid for: when it came time for a claim, they never once answered the phone, nor responded to a message nor email. I did eventually get a phone call or two from them, but the cheque they promised to send out mysteriously disappeared in the mail, twice... After four months I called in the Florida state watchdog to force them to pay up. The company: Safeco.

    Gareth
    Freyja E35 #241 1972

  13. #13
    Principal Partner treilley's Avatar
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    Sounds more like Dodgeco than Safeco. When it comes to insurance you usually get exactly what you pay for. That is why I do not mind paying a little extra for great service.
    Tim R.
    Living aboard in Portland, Maine
    TKR on a boat Blog
    Boat Projects and Photos
    -----------------------------------------------------

  14. #14
    Sustaining Partner
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    Insurance scam artists

    Avoid Bluewater Insurance (Ft Lauderdale) ....

    Capt Ron
    E-38 Kismet
    Auburndale, Florida
    Visit my web pages

  15. #15
    Sustaining Partner
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    Insurance Swap? Help Please

    Our 1986 E32-3 is currently insured with BoatUS with a 2009 yearly Premium due of $528. A local agent can place us with Lloyds London "Primier Marine" policy for $397 with similar coverages (higher deductible but includes better towing, etc). I have had no claims and Lloyds will accept my latest survey. So all I have to do is say yes to begin saving a few bucks.

    Does anyone have any friendly advice on making this swap? I am going to compare their sample policy to the BoatUS policy but I suspect they are similar. Other thoughts?
    Jerry & Jean Riggs, E32-3 #679 SV Raconteur, Kingston, WA

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