Insurance coverage

[Jeremy]

Hi guys. I've been shopping 36 classics for about 3 years. I have a 1981 in my sights now, and I'm looking into insurance. What coverage do you suggest I carry, and does anyone have any recommendations for insurers? Thanks.

[jleonard]

That's a tough one. A lot depends on your specific situation, where you boat, etc.
I have not found a better deal than BOAT US. That includes a Power Squadron discount.
I boat in L I Sound.

[Jeremy]

John: Thanks for the reply. I'm in Long Island, on the north shore. Here's what Boat Us quoted, based upon 300,000 liability coverage:
SUMMARY OF COVERAGES
Boat and Boating Equipment (Agreed Hull Value) : $55,000.00
Boat and Boating Equipment Deductible : $720.00
Boating Liability : $300,000.00
Fuel and Other Spill Liability : $800,000.00
Medical Payments : $1,000.00
Boat Trailer : $.00
Trailer Deductible : $.00
Personal Effects : $.00
Personal Effects Deductible : $.00
Uninsured Boater Protection-Limit each Accident : $300,000.00
Commercial Towing Assistance - Each incident/Annual limit : $250/500

TOTAL ANNUAL PREMIUM : $948.00

I guess the question is: do I have enough coverage, not enough, or too much. I don't know what's typical, if there exists an average, or generally accepted coverage amount.
Thanks again.

[Engineer6]

Other one to try is National Marine Underwriters, Inc. 1-800 BOAT INS based in Annapolis, MD. Easy to customize to your situation.
Your coverages seem reasonable on the details you provided.

[Jeremy]

Thanks. I'll give them a call.

[jakevr]

ACE MARINE INSURANCE.. I pay 750 a year and i keep mine in year round in the ice. check them out

[jleonard]

For me ACE was almost idendical to BOAT US except they did not give a power squadron discount.

[jcollins]

ACE MARINE INSURANCE.. I pay 750 a year and i keep mine in year round in the ice. check them out

Same for me. About the same price. One claim, no issues. Not a fan of BoatUS insurance.

[jleonard]

Not a fan of BoatUS insurance

Why? What was your bad experience?

My bad experience with ACE was that I had great difficulty in getting a definate price quote out of them. I had to talk with an agent, but the agent had to discuss with (I forget the actual title) so I had great difficulty getting exactly what I wanted for coverage. I finally gave up and actually contracted with BOAT US weeks before I finally got my quote out of ACE.
That was in spite of having a friend as a regional manager of ACE (unfortuneatly the wrong region for where I am located).

I've also never had a claim other than a couple of towing incidents.

[Boatmon]

How is Boat US for coverage? Our 36 was insured with them pretty much forever with her prior owner. We moved it to our local carrier who we have used for all the other boats (but never a claim) and insurances, but think that a true marine carrier should have this one. This is a long term commitment and I'd prefer to have no bad surprises with the coverage.

Any input?

[jcollins]

Why? What was your bad experience?

Short Story - I had a 69 Glastron insured with them. (Sharon's boat) It sank at the pier. We raised the boat and saved the outboard but electrical was shot. I filed a claim and they deducted 10% per year, for every year over 10 years. Obviously this exceeded the value of the boat and it was totaled. This was my fault. I should have read the policy when I purchased a 30 year old boat. All I did was call them up and add it to my existing policy. But, I felt someone should have mentioned that to me. The only thing I could do was "go away mad". So, I promptly called Progressive and switched. Progressive had good rates, good service, and didn't have that type of limitation. When I purchased the Albin, Progressive couldn't offer a competitive rate. That's why I switched to ACE. My agent is Hartge Insurance on the eastern shore. Very informative and nice folks to deal with.

Highly reccommend Hartge Insurance.

John

[Despacio]

John: Thanks for the reply. I'm in Long Island, on the north shore. Here's what Boat Us quoted, based upon 300,000 liability coverage:
SUMMARY OF COVERAGES
Boat and Boating Equipment (Agreed Hull Value) : $55,000.00
Boat and Boating Equipment Deductible : $720.00
Boating Liability : $300,000.00
Fuel and Other Spill Liability : $800,000.00
Medical Payments : $1,000.00
Boat Trailer : $.00
Trailer Deductible : $.00
Personal Effects : $.00
Personal Effects Deductible : $.00
Uninsured Boater Protection-Limit each Accident : $300,000.00
Commercial Towing Assistance - Each incident/Annual limit : $250/500

TOTAL ANNUAL PREMIUM : $948.00

I guess the question is: do I have enough coverage, not enough, or too much. I don't know what's typical, if there exists an average, or generally accepted coverage amount.
Thanks again.

That looks a lot like my Boat US policy for my 33. Agreed value, 48,000. Total Annual Premium, $381.00 Southern California.