Boat insurance?

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Steve Frost's picture
Steve Frost
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Boat insurance?

I received a package in the mail yesterday from Boats US. It included a form to fill out for a quote for insurance. I believe this was through some promotion at West Marine last year that awarded a free membership to Boat US and a limited towing certificate. I have always insured my boat with the same broker now known as Bay Risk, though the underwriter is as I recall Safeco. I have never had a claim in my years of boat ownership so it is hard to judge the value of the product.

I will likely stay with my current policy but, Boats US touted some coverage that may not be in my current policy. Oddly I did not see tow service listed as one of Boats US's features.

Are any of you using Boat US, do you have any rants about them and their service good or bad that may make me want to get a quote from them?

Cepheus dream
C36 MK I # 825
MK I Tech Editor No Mas

Laura's picture
Laura
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Our boat is insured with Boat US. Thankfully, I have never had to put in a claim!

The insurance includes $800,000 coverage for environmental contamination (which would be a very big deal in the Chesapeake and so close to Washington DC lawyers!!!). This is automatic, not something I asked for special.

I got discounts for claim free and boating education courses (safety).

Towing and other water assistance is separate and comes with membership in Boat US, depending upon which level you choose. It is very reasonable cost. Don't forget that C36 IA members get a BoatUS discount!

Laura Olsen
Commodore C36/375IA
S/V Miramar
hull 938 (MKI 1989, TR,WK, M25xp)
Edgemere, MD

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Steve Frost
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Laura,

thanks for the input.

You could do us all a favor if you would take more DC Lawyers out sailing with you, preferably you could arrange to have them onboard with you when you leave but, not when you come back. Make sure you go outside the five mile limit before disposing of this waste.

Cepheus dream
C36 MK I # 825
MK I Tech Editor No Mas

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Laura
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The exceptions, of course, are any JD's that sail with us on this list! Love you guys, really.

It is pretty rough here so close to DC, however! A "swing a cat" kind of crowded with 'em.

Not to worry- the Chesapeake is a no dump zone!

Laura Olsen
Commodore C36/375IA
S/V Miramar
hull 938 (MKI 1989, TR,WK, M25xp)
Edgemere, MD

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Ndemauro
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I also have the Boat US Insurance and will not change. I did have to make a rather substantial claim a few years ago and they took care of the issue without a problem.
Worth the money - they also have larger cruising areas if you're planning on leaving your local community.

Nancy
Cat's Meow #2046
San Francisco
2002 MK II

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plaineolde
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Posts: 753

I switched to Boat US many years ago on the basis that they knew boats and the policy was tailored to boaters. I remember calling my old company and asking if they would cover a dismasting. They had no idea what I was talking about. Called Boat US and they said, 'Yes, everything except that part that failed, that's a wear and tear item'. So if a fitting like a turnbuckle failed, I'd have to pay for that, but the rest of the rig would be covered.? 'Yep'. Much better answer.

I've never had to make a claim, but them to underwrite a trip from the Chesapeake to Cape May was a snap, and only cost a few dollars.

Gary and Cathy Price
1997 C36 Mk II Tall Rig/Wing Keel Imagine...
Hull # 1617
Worton Creek, Md.
Northern Chesapeake Bay

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Elliott S. Milstein
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Posts: 48

I am a huge fan of BoatUS, both for insurance and for towing. I had a big claim two years ago after a lightening strike (while at the dock) wiped out nearly everything electrical and electronic on the boat. Boat US immediately authorized (required, really) a short haul to be sure there was no hull damage and then appointed a highly regarded surveyor to handle the claim (Jack Horner). They paid for the replacement cost of every item and even made an interim payment. The total claim was around $22,000 and they paid all but the $1100 deductible. They far exceeded my expectations. And, they continue to give me a "safe boaters" discount.

As to the towing, last season I lost my steering near the Key Bridge heading to Baltimore for the 4th of July. I had opted for "unlimited" towing coverage for a small additional fee when I renewed by membership in BoatUS. TowBoatUS arrived in less than an hour and ultimately the pilot got permission to dive into the water to free my stuck rudder and then towed me for an hour and tied me up to a slip and stayed with me until he was certain all was well. The charge: zero (although I gave the guy a generous tip).

So, I highly recommend BoatUS.

Elliott

Elliott Milstein
Collaboration #1469
1995 C-36MkII
Port Annapolis Marina

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Steve Frost
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You guys make a pretty compelling case, I guess I will fill out that survey form and see what they quote me.

They should also be happy with the free advertising here from satisfied customers, maybe they should increase our C36IA discount.

Cepheus dream
C36 MK I # 825
MK I Tech Editor No Mas

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John Reimann
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A boat neighbor of ours was dismasted some five years ago. Boat US paid the cost. A year ago, a shroud on my boat came loose and the mast got a bend in it as a result. After the surveyor they sent looked at it, they paid the cost of a new mast to the tune of $20,000 less deductible.

Nevertheless, I must say, when I look at costs overall, I think my highest annual expense is for all forms of insurance by far, and that was my first major claim ever. I'm sure that overall, I've spent well over ten times that amount on insurance in my lifetime.

SF Bay
1998 C36

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Steve Frost
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I too have never made a claim, compared to auto and home insurance insurance for my boat looks inexpensive to me. Without a claim it does not look like a bargin. If you have a claim and your carrier gives you the runaround, as many insurance companies hate to pay claims as it comes off their bottom line, the premium then does not seem a bargin and makes you feel you have thrown your money away. The feedback given indicates Boats US has been good to work with and do not play games with you to collect on your claims

As for rigging failures a surveyer told me when I purchased my boat that many carriers are balking at covering mast failures if standing rigging is not replaced every five years, a bit more frequently than most casual boaters replace there standng rigging. It is areas like this where a carrier denies coverage due to failure of a component they put a life limit on that can make the relationship painful.

Cepheus dream
C36 MK I # 825
MK I Tech Editor No Mas

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chooch
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BoatUS was great to us after Ivan killed our beloved 'Wallaby'...
No fuss, no muss. Recovered Wallaby's remains, placed them in a local boatyard, let us remove whatever we wanted after the salvage recovery and cut a check for the full coverage (minus the (then) small deductable).
However, we were prevented from re-insuring for three years.
Next we had Markel for Tara. One problem: no wind damage coverage!
Right! Florida... no hurricane, no tropical storm and no tropical depression coverage...
So after the three years we went back with BoatUS!
Also, we maintain Unlimited towing and have used the service once when a cooling hose popped. I was a windy, rough day but the towboat came straight to us, towed us all the way, through the narrow channels to our slip, then helped us dock. Just sign the service slip and "have a nice day."
It's a real peace of mind to know that all you have to do is call on VHF or cell phone (if in range) and they'll come and take you home!

Fair Winds,

Glenn "Chooch" Jewell
Nautae Luna 1232 (RIP Tara 389 Hurricane Sally 2020)
GO NAVY - BEAT ARMY!

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Steve Frost
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It sounds to me if Boats US can save me enough money on the policy to pay for the added unlimited towing charge, this may be a no brainer.

Cepheus dream
C36 MK I # 825
MK I Tech Editor No Mas

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Steve Frost
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Getting near renewal time, I have used the same broker for many many years, My policy is underwriten by Safeco and they are taking a very large jump this year. They sent a letter stating they were getting gun shy of older boats (more than twenty years old) and have increased the rates on them.

I have my hull value set at 55K the coverage is pretty much the same on between the quotes received from Safeco and Boats US. Boats US put a hull value of 53K and the deductable was $720 on the Boats US policy and $500 on my current policy. The premium from Boats US was $554 compaired to $871 from Safeco, that is a fourty percent spread. Adjusting the deductable down on the Safeco policy still did not make it competitive and I have not asked Boats US about a C36IA discount.

My dilema now is Boats US, as with any new insurer will require an in the water survey at a cost of $400-$500. Though my boat is in good but not new condition the laundry list provided by the surveyor may add aditional cost to make minor repairs prior to coverage. As you are aware even simple things at a boat buck at a time can add up, a tattered sheet here, a rusty anchor rode there, new fire extinguishers and flares. I am trying to save a buck or two this year on insurance, the added cost of surveys and repairs will wipe out any savings in the short run even if Boat US looks better over the long haul.

In the long run, if Safeco walks away from the older boat market at some point in the furture I may be left looking. I have given my broker one more shot a being competitive but, Boat US is looking pretty good outside the aforementioned concerns.

Cepheus dream
C36 MK I # 825
MK I Tech Editor No Mas

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Ciscocat
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i looked at boats us but was put off by the cost of the survey so i opted to keep my current insurer, nationwide, for that same concern but then again my policy didn't increase bythat much, my boat is a 1984 model and a tad older than yours : > fwiw
fair winds
mike

Mike Hogan
s/v Ciscocat #226
Mark I XP25, std rig

borregomark
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My survey came with 2 pages of repairs required last fall. BoatUS only required the safety issues- certify the 3 halon fire extinguishers ($65), updated flares ($25), upgrade the outlets to GFCI protection ($15 GFCI at the head of the circuit), replace below waterline hoses to marine grade with double clamps ($250 into hoses and clamps). This made the boat more reliable and saves me $450.00 on the premium.

Mark Andrews
S/V Grace
86 C36 #995730
San Diego

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Elliott S. Milstein
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I have always insure through BoatUS so have no basis of comparison. But, I did have a major claim due to a lightening strike that caused $22K in damage. They couldn't have been better. They paid for an immediate short haul to check for hull damage and then appointed noted boat surveyor Jack Horner to determine the extent of the damage. They paid for replacement cost to replace nearly everything electrical and electronic on the boat, right down to the TV and stereo. They were prompt, courteous and fair. I extol their virtues whenever I can. And, they continued my safe boater discount as I have had no claims involving fault.

Membership with BoatUS includes membership in TowBoatUS. I pay for the higher coverage through my membership fee. Two years ago I lost my steering near the Key Bridge of Baltimore. They arrived within an hour and a dive was authorized to free my rudder and they towed me to a marina.

Elliott Milstein
Collaboration #1469
1995 C-36MkII
Port Annapolis Marina

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LCBrandt
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Posts: 1282

We insure everything through State Farm, so they were willing to take on the boat(s) as well. $450 annually for the C36, plus $50 for a separately registered dinghy. And my State Farm umbrella policy covers all. They allow me to go anywhere out to 50 miles of North America - this is true - which is very convenient for our Astoria to Strait of Juan de Fuca passages. It also means that I could circumnavigate the entire North American continent, via Panama and the Northwest Passage, without so much as a phone call to ask permission. I am amazed, but they have been great to deal with for decades.

Larry Brandt
S/V High Flight #2109
Pacific Northwest, PDX-based
2002 C-36 mkII SR/FK M35B
 

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bboggs
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[QUOTE=Steve Frost;5316]I too have never made a claim, compared to auto and home insurance insurance for my boat looks inexpensive to me. Without a claim it does not look like a bargin. If you have a claim and your carrier gives you the runaround, as many insurance companies hate to pay claims as it comes off their bottom line, the premium then does not seem a bargin and makes you feel you have thrown your money away. The feedback given indicates Boats US has been good to work with and do not play games with you to collect on your claims

As for rigging failures a surveyer told me when I purchased my boat that many carriers are balking at covering mast failures if standing rigging is not replaced every five years, a bit more frequently than most casual boaters replace there standng rigging. It is areas like this where a carrier denies coverage due to failure of a component they put a life limit on that can make the relationship painful.[/QUOTE]

I don't have too much of an issue with the insurer having a policy on not paying on failures of older standing rigging so long as the policy is stated up front, not after I've had a failure. I suppose that's are area where I could ask a few more questions. I do feel 5 year replacment on standing rigging is a bit much for coastal cruising boats. 10 years might be a better starting point given that a lot of 20 year old boats are sailing around with their original standing rigging.

Bill Boggs
s/v Palmetto Moon
1991 C36, Hull 1128
Herrington Harbor South
Chesapeake Bay

Steve Frost's picture
Steve Frost
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Posts: 788

My thoughts of short term savings by changing insurance providers looks to be dashed.

Everyone here and others I have spoken with have given Boats US a good review. My problem is that the cost of changing carriers including the survey and potential repair punch list would negate any short term savings. The amortized cost of the survey alone would not amortize the savings for several years.

A word to the wise, it would appear that the time to shop for insurance is at the point of sale when you have a current survey in hand and have negotiated repairs with the seller or broker. Unfortunatly we are usually quite busy during this process and emotions are running high to close the deal and jump aboard your new boat. I went with a broker I had used for decades and did not consider shopping about. I would like to switch but, the cost of doing so does not pencil for me this year as I am pinching pennies due to the economy and a near term outlay for a long term gain is not in the cards. For those of you in the boat buying mode I suggest you take the time to shop this product prior to purchase, Boat US would be at the top of my list if I were to repeat my steps.

Thanks to you who gave input.

Cepheus dream
C36 MK I # 825
MK I Tech Editor No Mas

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John Reimann
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We switched to Boat US about 4 - 6 months after having purchased our then 10-year-old C 36. It's interesting, because they didn't require a survey to give us a policy. Maybe they only have this requirement with older boats?

SF Bay
1998 C36

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jsc4484
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Posts: 138

I have had BOAT US insurance, since owning my 36. They have been great to deal with. I will tell you that being in the North East and weather such as it is something is always happening. This past summer we had a hurricane bearing down on us I called BOAT US and they said if the hurrice watch cone is over your area, haul. I hauled, and put her on the hard, THE HURRIANE CAME which amounted to sustained winds of a mouse farting. (MEANING once again forecaterswere not even close) following day she went back in.
I sent them the invoice recieved a check in less then 7 days for half the haul fee.

Also on the BOAT US towing, if you get it, dont SKIMP and just get the min. it will cost you an arm and a leg to get towed home, it is insane the amount they charge. for a couple of extra bucks get the unlimted towing package. You may never need it, and hopefully you never do. But if there comes a time you wont be taking out your credit card to get towed home.

FAIR WINDS & FOLLOWING SEAS

Jeff Costa

S/V KAIROS Hull #0235

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mutualfun
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I have been reading what everyone says about Boat US as we have them also. We are covered up to the Turks and Cacos Islands as it includes the Bahamas which we are in currently. Our cost is just over $2200 a year for a value of $78,000. When we came out of the great lakes it went from $450 to the $2200 an we have never had a claim on our boat. I am curious what other Boat US members are being charged in cost.
Randy

Randy Sherwood
Mutualfun 1990 # 1057
T/R W/K M35a
Home. Charlotte, Mi.
Boat. St Augustine,Fl.

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jackheaston
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Randy
That is indeed quite an increase.
BoatUS quoted $644 for a $50k hull, but that was restricted to inland PNW waters, not including anywhere offshore, and of course we don't have hurricanes out here.
Progressive offered a very competitive rate ($336 with similar limits but higher deductibles and coverage out to 75 miles offshore), but they only insure hull values up to $39,999. It has an easy online quote system to quickly compare alternatives. One avoids the BoatUS underwriting Gestapo's annoying requirement of a written "plan" for addressing the surveyor's deficiencies, many of which have nothing to do with the vessel's seaworthiness or liability.
Progressive agreed that $40k was okay for an 87 C36 and did not require a survey (or even appraisal) to offer coverage. Never had a claim in over 30 years, so with liability (including spill coverage) and something for the hull if it's stolen, sinks or burns, Progressive seemed a better choice.
Anyway, $40k maybe doesn't address your needs.
Found a Twin Rivers Marine Insurance ad in this year's Strictly Sail Pacific insert that claims to cover both coasts, Caribbean, etc., with "Flexible Survey Requirements." Am not promoting these guys, as I know nothing about them. 1-800 259-5701 or [url]www.BoatInsuranceOnly.com[/url]
Hope this is helpful.

Jack Heaston
1987 C36 Mk I #692
Fin Keel, Std Rig, Rocna 15
Silent Passage, M25 XPB Repower

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ProfDruhot
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Here's a tip for those of you who happen to be on active duty or are military retired, like I am. If you are retired from the military then you probably already know that you are eligible to Join USAA Insurance. Their rates are the best in the business. USAA used to insure boats; however they now subcontract out to Progressive and their rates are almost unbelievable when you qualify as an USAA member!

Glenn Druhot
Carpe Diem
New Bern, NC
35* 6' 10" N / 77* 2' 30" W
2001 C36, Hull #1965
Std Rig; Wing Keel; M35B

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Ciscocat
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if you are breathing you now qualify for ussa member ship. it's not exclusive as it once was-- FWIW

Mike Hogan
s/v Ciscocat #226
Mark I XP25, std rig

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deising
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I don't know, Mike. I tried to join USAA as a member of the Coast Guard Auxiliary and the answer was no.

Fortunately, my Allstate boat policy is still a pretty good deal at $900 for $108K coverage. Which reminds me, I need to lower that face value.

Duane Ising - Past Commodore (2011-2012)
s/v Diva Di
1999 Catalina 36 Hull #1777
Std rig; wing keel, M35B, Delta (45#)
Punta Gorda, FL
http://www.sailblogs.com/member/diva-di/

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ZiggaZagga
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Allstate gave me the best deal on mine.

Gene Regan
Zigga Zagga
C36 MKII # 1919

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gforaker
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[QUOTE=jackheaston;8232]Randy

Progressive offered a very competitive rate ($336 with similar limits but higher deductibles and coverage out to 75 miles offshore), but they only insure hull values up to $39,999. It has an easy online quote system to quickly compare alternatives. One avoids the BoatUS underwriting Gestapo's annoying requirement of a written "plan" for addressing the surveyor's deficiencies, many of which have nothing to do with the vessel's seaworthiness or liability.
Progressive agreed that $40k was okay for an 87 C36 and did not require a survey (or even appraisal) to offer coverage. Never had a claim in over 30 years, so with liability (including spill coverage) and something for the hull if it's stolen, sinks or burns, Progressive seemed a better choice.
Anyway, $40k maybe doesn't address your needs.
[/QUOTE]

FWIW, Progressive will cover boats up to $350,000, but the limit on boats over 20 years old and new customers to them is $40,000. Not that I am necessarily recommending them.

I am an independent insurance agent and it is VERY difficult to compare policies and companies. There is no standard policy language for marine insurance.

Gene Foraker
Sandusky Yacht Club
Sandusky, OH
1999  C36  #1786
Gypsy Wagon

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