Insurance

[rcornejo]

Merry Christmas to everyone. I hope all of you have a safe and joyous holiday season.

I am posting to see if anyone would be kind enough to share information regarding insurance for the 28 TE. My insurance on my 97 TE is coming up and wanted to look around and compare quotes. Is there an insurance company that you deal with that gives you a good deal and understands our boats? Most of the agents down here have never heard of the Albin much less know about it. Any information as to who you use and what you pay for coverage would be greatly appreciated.

Have a great holiday season.

Roland

[dgurgel]

Roland,

I have been very happy with Progressive. For my 2000 TE I pay just under $1,000 per year for $300,000 combined single limit with $2,500 deductible. Customer- service is very friendly. You can do the whole deal online, but you can also do it by phone. They needed no survey or other detailed information on my boat. There are substantial discounts for home-owners and for those that have completed a boating safety course.

Progressive is the recommended marine insurance provider for USAA, the armed services member insurance and financial services company with headquarters in San Antonio.

[OldDemps]

The "Chubb Masterpiece" policy that my "boat only" insurance broker put me with is GREAT.

I chose $60K hull, $500K liability, in the water year round =$380 per year. It included overland transport which was great when I relocated the boat as secondary coverage to transporter. Attached is my quote with the limits which is now in bound.

This "Boat only" agency advertises heavy along the entire west coast and probably can write policies through out USA. Call Gary, he's great.
http://www.boatinsuranceonly.com
Gary Clausen
Twin Rivers Marine Insurance Agency, Inc.
7 Marina Plaza
Antioch, Ca 94509
1-800-259-5701
Fax - 1-925-779-1749

[Jack]

I use Progressive which has an arrangement with USAA, which I use for all my insurance. I haven't had a problem with them except for the first year when they didn't automatically renew me and expected me to contact them. Seems like odd business not to assume that the boat owner would want to continue to pay them. They charge $993 with a discount for a timely annual payment, so it nets down to $895. That covers $500k liability, $500k uninsured boater, medical $5k each person, comprehensive and collision $90k each. I estimated not navigating more than 75 miles from home port.
Hope that helps.

[rcornejo]

Thank you all for the information. I have made some calls to your companies and hope to have a policy lined up by the first. My policy will expire at midnight on the 31st.

Happy Holidays to everyone.

Roland

[jcollins]

The "Chubb Masterpiece" policy that my "boat only" insurance broker put me with is GREAT.

I chose $60K hull, $500K liability, in the water year round =$380 per year. It included overland transport which was great when I relocated the boat as secondary coverage to transporter. Attached is my quote with the limits which is now in bound.

The 60k hull seems low for a 2000 boat. Did you decide on that or is that all they offered? When I purchased Afterglow, Progressive only offered 60k. That was in 2005 for a 1995 TE. I went with Ace American. Hull/replacment vale of 78k. I'm now thinking 5 years later it's time to shop around. I pay around 800 per year. The policy I have does not cover dingy or outboard, which was stolen (the outboard) this past summer.
I did fill out the online quote for Chubb and mentioned Albin Owners Group. I''ll let you know what they come back with.

John

[OldDemps]

[/quote]
The 60k hull seems low for a 2000 boat. Did you decide on that or is that all they offered?
John[/quote]

I asked for $60K of replacement cost coverage, that's the amount I felt I need to be to end up basically whole, excluding personal effects.
I'm sure the insurance carrier would gladly SELL me more coverage and I'll review increasing it at renewal.
Thanks

[RobS]

For my 2000 28TE w/6LP I have an 80K policy with a 2% deductible w/Travelers for $694.

Prior to Travelers had BOAT US but the Traveler's policy has comparable coverage for several hundred less. This Travelers policy has $1K in towing/assistance coverage with no deductible. However, I also have Boat US top towing policy.

2 important things regarding your yacht policy:

Be sure of the lay-up period. The Travelers policy wanted me out sooner and longer than my normal schedule. Underwriting agreed to endorse my policy with a lay-up period of 12/21 to 4/01 with no change in premium.

Be sure the policy covers accidental spill/environmental cleanups.

[Yearwood]

With the wide range of insurance rates and cover I have seen on these forums over the past few years it seems to me that it would be worthwhile to set up a template and have everyone post their cover and rates.