Bought the Boat & Insurance Hint
 

We bought the boat that prompted the inquiries about Lake Erie and will be
sailing it from Gibraltar, MI to Maine in the spring.

Insurance took some calling around. I've been so involved professionally
with boats over the last three decades that I never needed or got around to
owning one that you couldn't put on a car. I've done plenty of sailing and
cruising though. Underwriters saw somebody buying 32 foot, first boat and
planning to set right out on 900 mile trip and freaked. Had to dig up all
my old sailing buddies for references.

Got insurance for half the price of anyone else from Liberty Mutual. They
only write boat insurance for holders of existing auto and homeowner
policies. It isn't a significant part of their business so they don't pay
much attention to it and haven't raised rates since 1986! Only drawback is
they won't cover Canada on the ocean coast so we'll have to switch when we
are ready to start going to Nova Scotia. Great Lakes and seaway up to
Quebec is covered though.

--

Roger Long

I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

Doug
s/v Callista

"Roger Long" wrote in message
...
We bought the boat that prompted the inquiries about Lake Erie and will be
sailing it from Gibraltar, MI to Maine in the spring.

Insurance took some calling around. I've been so involved professionally
with boats over the last three decades that I never needed or got around
to owning one that you couldn't put on a car. I've done plenty of sailing
and cruising though. Underwriters saw somebody buying 32 foot, first boat
and planning to set right out on 900 mile trip and freaked. Had to dig up
all my old sailing buddies for references.

Got insurance for half the price of anyone else from Liberty Mutual. They
only write boat insurance for holders of existing auto and homeowner
policies. It isn't a significant part of their business so they don't pay
much attention to it and haven't raised rates since 1986! Only drawback
is they won't cover Canada on the ocean coast so we'll have to switch when
we are ready to start going to Nova Scotia. Great Lakes and seaway up to
Quebec is covered though.

--

Roger Long

I'd like to know more. Was it just poor an inept servicing of the claim or
did they try to not pay? Was it a big loss or just a ding?

Interestingly, Liberty Mutual seemed the most customer friendly and
responsive which also was part of my decision.

We'll have to switch to a marine carrier next year anyway as Nova Scotia and
New Brunswick figure big in our plans.

--

Roger Long



"Doug Dotson" wrote in message
...
I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

Doug
s/v Callista

It really depends on the type of policy. Most "boat insurance" added to
auto and homeowners policies pay claims based on "book" or depreciated value
less deductable and may not cover environmental damage or other specificaly
marine risks. "Book value" is usually way below what you would have to pay
to replace the boat. A real "yacht policy" will usually be for a stated
value less deductable and cover more marine specific risks.

--
Glenn Ashmore

I'm building a 45' cutter in strip/composite. Watch my progress (or lack
there of) at: http://www.rutuonline.com
Shameless Commercial Division: http://www.spade-anchor-us.com

"Roger Long" wrote in message
...
I'd like to know more. Was it just poor an inept servicing of the claim
or
did they try to not pay? Was it a big loss or just a ding?

Interestingly, Liberty Mutual seemed the most customer friendly and
responsive which also was part of my decision.

We'll have to switch to a marine carrier next year anyway as Nova Scotia
and
New Brunswick figure big in our plans.

--

Roger Long



"Doug Dotson" wrote in message
...
I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

Doug
s/v Callista

I went over all that with them. They are covering for the value on the
survey and substantially more than we paid. They will pay spill damage up
to the limits of the policy. We also carry an umbrella policy with them so,
even if their insurance is deficient, they are still on the hook for any
excess.

I think this is a deal worth looking into.

--

Roger Long



"Glenn Ashmore" wrote in message
news:JcBvd.2777$Qk5.1500@lakeread04...
It really depends on the type of policy. Most "boat insurance" added to
auto and homeowners policies pay claims based on "book" or depreciated
value
less deductable and may not cover environmental damage or other
specificaly
marine risks. "Book value" is usually way below what you would have to
pay
to replace the boat. A real "yacht policy" will usually be for a stated
value less deductable and cover more marine specific risks.

--
Glenn Ashmore

I'm building a 45' cutter in strip/composite. Watch my progress (or lack
there of) at: http://www.rutuonline.com
Shameless Commercial Division: http://www.spade-anchor-us.com

"Roger Long" wrote in message
...
I'd like to know more. Was it just poor an inept servicing of the claim
or
did they try to not pay? Was it a big loss or just a ding?

Interestingly, Liberty Mutual seemed the most customer friendly and
responsive which also was part of my decision.

We'll have to switch to a marine carrier next year anyway as Nova Scotia
and
New Brunswick figure big in our plans.

--

Roger Long



"Doug Dotson" wrote in message
...
I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

Doug
s/v Callista

The policy was not a typical boat "agreed value" policy. He suffered
a dismasting but the boat was old enough that between the deductable
and depreciation it hardly coverend any of the replacement cost. My
insurance covers the entire replacement less the deductable of course.

My standard question I ask when buying insurance is "If I am dismasted
and the falling mast pokes a hole in the side of the boat and the dragging
of the mast along the side trashes my paint job, what is covered?". My
policy covers the complete replacement cost less the deductable.

Doug
s/v Callista

"Roger Long" wrote in message
...
I'd like to know more. Was it just poor an inept servicing of the claim
or did they try to not pay? Was it a big loss or just a ding?

Interestingly, Liberty Mutual seemed the most customer friendly and
responsive which also was part of my decision.

We'll have to switch to a marine carrier next year anyway as Nova Scotia
and New Brunswick figure big in our plans.

--

Roger Long



"Doug Dotson" wrote in message
...
I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

Doug
s/v Callista

Doug Dotson wrote:
I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

The old "I had a friend" story. Well based on my actual, first-hand
experience with Allstate covering 2 boats for a period of 15 years, I
can tell you that Allstate was prompt and generous with their
settlement
for a broken mast (they replaced mast/boom/standing and running
rigging,
and installation - I saved the sails) and a bent propshaft (I hit an
uncharted underwater obstruction - they paid for everything, including
two coats of new bottom paint).

dudley
..

Well, all I can relate is my personal experiences. Others may be different.

"dudley" wrote in message
ups.com...
Doug Dotson wrote:
I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

The old "I had a friend" story. Well based on my actual, first-hand
experience with Allstate covering 2 boats for a period of 15 years, I
can tell you that Allstate was prompt and generous with their
settlement
for a broken mast (they replaced mast/boom/standing and running
rigging,
and installation - I saved the sails) and a bent propshaft (I hit an
uncharted underwater obstruction - they paid for everything, including
two coats of new bottom paint).

dudley
.

But just to be fair, I have another friend that had his boat insurance
as a rider on his homeowner/car insurance with Erie. His 10 year old
headsail came unfurled during a storm and was destroyed. Erie
paid him $3500 without question to replace it. Most insurance either
doesn;t cover sails or depreciates them so who can figure.

Doug
s/v Callista

"dudley" wrote in message
ups.com...
Doug Dotson wrote:
I had a friend that did the same type of thing with Allstate. Had his
car and house insured with them and just added his boat for a dirt
cheap price. Seemed like a great deal until he filed a claim.

The old "I had a friend" story. Well based on my actual, first-hand
experience with Allstate covering 2 boats for a period of 15 years, I
can tell you that Allstate was prompt and generous with their
settlement
for a broken mast (they replaced mast/boom/standing and running
rigging,
and installation - I saved the sails) and a bent propshaft (I hit an
uncharted underwater obstruction - they paid for everything, including
two coats of new bottom paint).

dudley
.

We have the same with State Farm. They were very good to work with, paid
out a large fee to make the boat right. No complaints.

"Roger Long" wrote in message
...
We bought the boat that prompted the inquiries about Lake Erie and will be
sailing it from Gibraltar, MI to Maine in the spring.

Insurance took some calling around. I've been so involved professionally
with boats over the last three decades that I never needed or got around
to owning one that you couldn't put on a car. I've done plenty of sailing
and cruising though. Underwriters saw somebody buying 32 foot, first boat
and planning to set right out on 900 mile trip and freaked. Had to dig up
all my old sailing buddies for references.

Got insurance for half the price of anyone else from Liberty Mutual. They
only write boat insurance for holders of existing auto and homeowner
policies. It isn't a significant part of their business so they don't pay
much attention to it and haven't raised rates since 1986! Only drawback
is they won't cover Canada on the ocean coast so we'll have to switch when
we are ready to start going to Nova Scotia. Great Lakes and seaway up to
Quebec is covered though.

--

Roger Long

Ditto. I can even cruise Florida waters without a hike in rates. I
think they said trips to the Bahamas are also covered.

Jim.
Bryan wrote:
We have the same with State Farm. They were very good to work with, paid
out a large fee to make the boat right. No complaints.

"Roger Long" wrote in message
...

We bought the boat that prompted the inquiries about Lake Erie and will be
sailing it from Gibraltar, MI to Maine in the spring.

Insurance took some calling around. I've been so involved professionally
with boats over the last three decades that I never needed or got around
to owning one that you couldn't put on a car. I've done plenty of sailing
and cruising though. Underwriters saw somebody buying 32 foot, first boat
and planning to set right out on 900 mile trip and freaked. Had to dig up
all my old sailing buddies for references.

Got insurance for half the price of anyone else from Liberty Mutual. They
only write boat insurance for holders of existing auto and homeowner
policies. It isn't a significant part of their business so they don't pay
much attention to it and haven't raised rates since 1986! Only drawback
is they won't cover Canada on the ocean coast so we'll have to switch when
we are ready to start going to Nova Scotia. Great Lakes and seaway up to
Quebec is covered though.

--

Roger Long