Marine Insurance - AquaPac

[RobS]

Been reviewing yacht policies and comparing Travelers, Boat US and Seaworthy. New to me is Aquapac. Anyone have any feedback on them? Their package and pricing is appealing. They are a west coast based carrier so I am thinking some of our PNW members may have some first hand knowledge.

[joreyn]

It's a program offered through an insurance wholesaler. It looks good, but you need to find out who the actual insurer is. Insurance procured through a wholesaler is generally more expensive, because there is one more party to pay. If the actual insurer is accessible to your local independent agent, that will usually be a better deal.

[Serenity]

After Boat US decide to raise my rates by over 30% I went to Travelers and the premium was acceptable. This year Travelers increased my rates by 30%, with no claims. I went back to my broker and now I am with Encompass and their rates are great. They are a division of All-State. If they raise my rates I will check out AquaPac.

[mike66]

Sandy is affecting us all to some degree, even if we escaped the carnage.

[whwells]

Sandy Impact: Have been with Travelers for several boats now. Yes, rates are going up even out west. However, they must spread the risk to survive Mother Nature. Have not yet come across AquaPac but next time my policy comes up will inquire of the writing agent.
whwells "Howard"
2006 35te Sportfisher Flybridge Conv. "Nibbles"
2004 Osprey Piltohouse 22 "Nest"

[tinsley]

2-24-14 Rob, I have an Albin 28TE that I have had insured with Travelers for the last few years.
Last year the premium was $540, for 2014 with no claims and no problems it has gone up almost 50% to $740 !
I canceled it today... I run a small business, and our prices go up 3% per year !! Anyway, after calling around today, I called Geico Boat Insurance 800 861 8380 they were very friendly, seemed to know a lot about boats in general, and charged $650 per year for full coverage. So anyone else shopping around might give Geico a call.
Tinlsey Meekins Tower Power

[joreyn]

Howard, since your boat is in Anacortes, you might want to get a quote from Red Shield insurance. Your current agent might represent them. I got a quote from Boat US about 15 months ago and they were $250 more than Red Shield, with $30,000 less coverage. AND, with my latest renewal, the premium went down $65 with no change in coverage. It's a full blown yacht policy, not a "boatowners" policy. Agreed value, replacement cost on the boat's equipment, separate limit of insurance for pollution, the whole nine yards. They write in Washington, Oregon, California (floating property only), Idaho and Utah. Consequently not impacted by Sandy and other natural catastrophes.

Tinsley, make sure that the GEICO policy is a yacht policy, and is on an "agreed amount" basis. Usually GEICO places their yacht insurance through other non-affiliated companies, and they can certainly procure a yacht policy with a company like Seaworthy. But I've seen some instances when they have procured policies that depreciate the value of your boat. Similar to auto insurance. Kind of a bummer if your boat is totaled and you can't replace it with your insurance proceeds.