Here's a tidbit that I experienced this fall when my insurance renewal came up that might be of interest to others.
We had been paying about $1,200 a year for the normal coverage, which I believe others mentioned they have also paid in previous discussions. The renewal came in and, as usual, we were going to pay it. This year I happened to see an ad for insurance in Soundings and thought, what the heck, I'd give it a try so I called for a quote.
I got a quote for around $300 less and for more liability coverage than with the company I had been with for about 40 years. So, I called my old carrier and told them about the difference in cost. Amazingly enough, they were able to use a "new formula" and with some "management discretion" were able to meet the lower quote and the higher coverage limit.
So, when you get your renewal... its worthwhile to shop around a bit. I got around a 30% reduction and stayed with my old carrier (with whom I do have a lot of trust) simply by making a call. BTW, the insurance broker I called did not request a survey even though my boat is a 2002. If they had, that would have negated any savings.
Chuck Parker
HelenRita 2072 Mk II
2002 Tall Rig - Winged Keel
Atlantic Highlands, NJ
Chuck, thanks for sharing this information.
You may want to contact
Barry Paulsen
cell 916 712-7500
fax 209 466-4515
800 252-9597
Norman_SpencerAgency
501 W. Weber Ave., Ste 300B
Stocton, CA.
service@norman-spencer.com
barrypaulsen@norman-spencer.com
marine@norman-spencer.com
I will be curious what they will quote you.
My rate is $ 520.00/per year.
No - I have not connections with them.
Signature: 1999 C36, M35B, San Mateo, CA.
Sail La Vie 1999 Catalina 36 MKII, M35B-17031, Coyote Point, San Mateo, CA
About Sail La Vie
Chuck;
We had a somewhat similar experience with BoatsUS this year. I have been with BoatUS for some thirteen years insuring my previous boat and now the Catalina 36. Last season, I decided that I would shop around a bit after discovering that many of the folks on the forum were paying much, much less - almost by half. $1200.00 vs. what I was paying to BoatsUS = $2400.
I decided to call BoatsUS and find out what I was getting for my EXTRA $1200.00. Suprisingly the answer came back from BoatsUS.
'OH, we can insure your boat for that price ($1200) since we have a new 'under-writer' GEICO.
Interesting conversation however; When I inquired to BoatsUS about, 'When was BoatsUS going to tell me that I could get the same coverage for half the price ? The answer came back, 'We don't have an active program in place to inform existing customers of the newer rates !
You are absolutely correct. Shop around.
The policy was signed for the same coverage for $1200.00 ! Grrrrr !
Bill Dolan 1990 Catalina C-36 MKI - Hull #1041 'Williwaw'
Std. Rig, Walk Through, Wing Keel
M35, Oberdorfer Conversion,
Home Waters; Charlotte Harbor & The Gulf Islands of Florida
'You are never out of work if you own a boat'
Catboat Willy. What's your cruising area for the policy you have for that price. We dropped boatus just because the told us they would not go any lower the $2400. We had Florida and Bahamas for our cruising area.
Randy Sherwood
Mutualfun 1990 # 1057
T/R W/K M35a
Home. Charlotte, Mi.
Boat. St Augustine,Fl.
Randy;
The cruising area with my insurance coverage is the East coast to include the Bahamas but not the Turks and Caicos or Cuba. A seperate rider is required for sailing in those places . The boat is kept behind a private home in Port Charlotte, FL. . We'll see what this years charges are after Hurricane Irma. This is a stated value policy of $55K with a $6000.00 deductable. From BoatsUS the policy cost $1246.00 a year. Plus,the policy includes added rider to include additional liability insurance of $200,000
The additional liability of $200,000.00 is necessary to cove the gap which is not provided by the home owner's insurance policy.
( I'll explain - Here in Florida and when homes are located along the coast, there is usually only one insurance company that will cover you and that is Citizen's - an Insurance Company run by the State of Florida. They will only cover liability to $100,000. where most every other policy coverage goes to $300,000.thus leaving a gap of $200 K for which you take a seperate extended coverage policy for. Confusing huh ?
The other thought is to only take coverage for the Bahamas when you need it and not on a continual basis. Check what the rate would be if you dropped the Bahamas coverage.
Randy, It think the message is clear. You've got to shop each year for a policy and just because you've been with BoatsUS for thirty years (like myself) doesn't mean they are going to do you and favors when it comes to charging you. You're just another customer.
Please keep me advised of your findings with insurance.
Bill Dolan 1990 Catalina C-36 MKI - Hull #1041 'Williwaw'
Std. Rig, Walk Through, Wing Keel
M35, Oberdorfer Conversion,
Home Waters; Charlotte Harbor & The Gulf Islands of Florida
'You are never out of work if you own a boat'