Insurance
 

Does anyone have any leads on good deals in boat insurance. My policy
renewal premium is just about double. Must pay for the hurricanes I guess.

No doubt. Try NMU (National Marine Underwriters) in Annapolis, MD.
My insurance doubled a couple of years ago and NMU wrote me a nice
policy. Rates seem to go up for the strangest reasons. I've never had a
claim.
When we went to The Bahamas my rate went from $900/yr to $1900/yr.
Not too suprising as I was leaving the Chesapeake area and going offshore
as well. But when we got back, I called to have the extended cruising
rider removed. My new rate was $1700/yr! Time to change companies.
And this was a company I had been with for years with no claims.
Go figure.

Doug
s/v Callista

"Jr Gilbreath" wrote in message
. ..
Does anyone have any leads on good deals in boat insurance. My policy
renewal premium is just about double. Must pay for the hurricanes I
guess.

Thanks Doug
I will surely give them a try. I'm like you, never had a claim!

Doug Dotson wrote:
No doubt. Try NMU (National Marine Underwriters) in Annapolis, MD.
My insurance doubled a couple of years ago and NMU wrote me a nice
policy. Rates seem to go up for the strangest reasons. I've never had a
claim.
When we went to The Bahamas my rate went from $900/yr to $1900/yr.
Not too suprising as I was leaving the Chesapeake area and going offshore
as well. But when we got back, I called to have the extended cruising
rider removed. My new rate was $1700/yr! Time to change companies.
And this was a company I had been with for years with no claims.
Go figure.

Doug
s/v Callista

"Jr Gilbreath" wrote in message
. ..

Does anyone have any leads on good deals in boat insurance. My policy
renewal premium is just about double. Must pay for the hurricanes I
guess.

In article ,
says...


Thanks Doug
I will surely give them a try. I'm like you, never had a claim!

Don't know if you tried Boat US, but I think very highly of them. We had a
fire two weeks after we took our policy with Boat US. They paid for the
repairs without quibble and our premium hardly increased at all.

Last I checked out Boat US their policies were really oriented towards
smaller boats. Not an Agreed Value policy so they depreciated
many repairs. I've heard they recently they have taken steps to
cater to larger boats. That's good, but when my rates went up
2 years ago, their quote was quite a bit higher than NMU. Worth
looking at though.

Doug
s/v Callista

"Gogarty" wrote in message
...
In article ,
says...


Thanks Doug
I will surely give them a try. I'm like you, never had a claim!

Don't know if you tried Boat US, but I think very highly of them. We had a
fire two weeks after we took our policy with Boat US. They paid for the
repairs without quibble and our premium hardly increased at all.

If you have auto, homeowners, or umbrella with Liberty Mutual, they
will insure your boat for about half of what stand alone boat
insurance is. The only drawback I can see is that they won't insure
for operation in Canadian waters. Canadian portion of the Great Lakes
is OK. Next year, when we want to got to Canada which is only a
couple day's sail away, we'll have to change insurance. If you want
to go to the Bahamas, you probably will have the same problem.

--

Roger Long



"Jr Gilbreath" wrote in message
. ..
Does anyone have any leads on good deals in boat insurance. My
policy renewal premium is just about double. Must pay for the
hurricanes I guess.

I've always had "agreed value" with Boat/US. They have several types of
policy - for larger boats, and newer boats, you can get an agreed value,
all risks yacht policy with few, if any, items depreciated. But you can
also get the "Basic" coverage, where everything is depreciated
(sometimes down to zero) and the total loss value is the "market value,"
not replacement.

The are a few variations, such as bass boat and pwc coverage, plus a
high end version that reduces the deductible in some cases. But the
Yacht policy has been available for at least the last 15 years that I
know of.

http://www.boatus.com/insurance/policy.htm

Most of the Boat/US complaints I've seen in this forum are from people
who bought the basic coverage and then discovered that 20 year old
rigging and outboards aren't really covered. Everyone I know who has
the All Risk, Agreed Value Yacht Policy has been quite satisfied. I've
never had a claim, but my cousins, who had their Sabre 38 helicoptered
out of a swamp after Hurricane Bob were ecstatic. So were friends who
were t-boned by a port tack Soling in Boston Harbor, probably from the
same club Roger was talking about the other day. (Maybe it *was* Roger
....)

The t-bone incident had an surprising aspect: because my friends
admitted they didn't see the other boat, they were assessed 24% of the
blame - the port/starboard rule only applies "when in sight" and thus
was somewhat voided because of the lack of a proper lookout. My friends
had to pay 24% of both deductibles, the other boat paid the remainder.




Doug Dotson wrote:
Last I checked out Boat US their policies were really oriented towards
smaller boats. Not an Agreed Value policy so they depreciated
many repairs. I've heard they recently they have taken steps to
cater to larger boats. That's good, but when my rates went up
2 years ago, their quote was quite a bit higher than NMU. Worth
looking at though.

Doug
s/v Callista

"Gogarty" wrote in message
...

In article ,
says...


Thanks Doug
I will surely give them a try. I'm like you, never had a claim!


Don't know if you tried Boat US, but I think very highly of them. We had a
fire two weeks after we took our policy with Boat US. They paid for the
repairs without quibble and our premium hardly increased at all.

I use USAA, cheaper than Boat/US but not everyone qualifies.

Capt. Jeff

"Jeff Morris" wrote in message
...
I've always had "agreed value" with Boat/US. They have several types of
policy - for larger boats, and newer boats, you can get an agreed value,
all risks yacht policy with few, if any, items depreciated. But you can
also get the "Basic" coverage, where everything is depreciated (sometimes
down to zero) and the total loss value is the "market value," not
replacement.

The are a few variations, such as bass boat and pwc coverage, plus a high
end version that reduces the deductible in some cases. But the Yacht
policy has been available for at least the last 15 years that I know of.

Have their rates come down a bit? Just as a reference point, any idea
what $100, 000 would cost these days? Just for grins I'll give them a
call.

http://www.boatus.com/insurance/policy.htm

Most of the Boat/US complaints I've seen in this forum are from people who
bought the basic coverage and then discovered that 20 year old rigging and
outboards aren't really covered. Everyone I know who has the All Risk,
Agreed Value Yacht Policy has been quite satisfied. I've never had a
claim, but my cousins, who had their Sabre 38 helicoptered out of a swamp
after Hurricane Bob were ecstatic. So were friends who were t-boned by a
port tack Soling in Boston Harbor, probably from the same club Roger was
talking about the other day. (Maybe it *was* Roger ...)

The t-bone incident had an surprising aspect: because my friends admitted
they didn't see the other boat, they were assessed 24% of the blame - the
port/starboard rule only applies "when in sight" and thus was somewhat
voided because of the lack of a proper lookout. My friends had to pay 24%
of both deductibles, the other boat paid the remainder.

You've got to wonder where values like 24% come from.



Doug Dotson wrote:
Last I checked out Boat US their policies were really oriented towards
smaller boats. Not an Agreed Value policy so they depreciated
many repairs. I've heard they recently they have taken steps to
cater to larger boats. That's good, but when my rates went up
2 years ago, their quote was quite a bit higher than NMU. Worth
looking at though.

Doug
s/v Callista

"Gogarty" wrote in message
...

In article ,
says...


Thanks Doug
I will surely give them a try. I'm like you, never had a claim!


Don't know if you tried Boat US, but I think very highly of them. We had
a
fire two weeks after we took our policy with Boat US. They paid for the
repairs without quibble and our premium hardly increased at all.

Doug Dotson wrote:
Have their rates come down a bit? Just as a reference point, any idea
what $100, 000 would cost these days? Just for grins I'll give them a
call.


There are too many variables to predict - My new catamaran was somewhat
cheaper that my older boat. Give them a try and find out.

....

The t-bone incident had an surprising aspect: because my friends admitted
they didn't see the other boat, they were assessed 24% of the blame - the
port/starboard rule only applies "when in sight" and thus was somewhat
voided because of the lack of a proper lookout. My friends had to pay 24%
of both deductibles, the other boat paid the remainder.


You've got to wonder where values like 24% come from.

The way we figured it, the port/starboard issue was considered primary,
worth 52%, and the liability bourne completely by the Soling. The
lookout issue was worth 48% and shared by both vessels, who obviously
didn't see each other. I suppose you could argue that maintaining a
proper lookout is more important, but that's not the way the insurance
folks saw it. BTW, this was not a court judgement, its was the "ruling"
by the insurance companies who get together to hash these matters out.