# Insurance



## lewharve (Apr 17, 2002)

we found a boat and had a survey but the insurance quotes have been outragous more than a car. why


----------



## CaptainForce (Jan 1, 2006)

Full coverage? A wood boat? ...In Florida during hurricane season? An old boat? What is outrageous?
I would likely agree, as I have a 1973 boat with Florida registration and was quoted a cost of 8.5% the value of my boat/year; therefore, I carry liability only. Take care and joy, Aythya crew


----------



## fmueller (Mar 14, 2012)

Speaking of insurance... 

Do most Marina's require both liability and Hull insurance? Or is liability only generally sufficient? I can understand the liability piece, but why would they require the Hull insurance?

Does anyone even write Hull insurance policies for 40 year old boats with really low value? My boat was free (to me) so I can't really imagine spending a lot of money on hull insurance (or even a survey which I think is required for most hull insurance, right?)

~fortunat


----------



## Squidd (Sep 26, 2011)

Exactly....


----------



## wingNwing (Apr 28, 2008)

The other factor besides cruising area that will hugely affect the cost of your insurance is your sailing resume. Documented training courses? Boat-owning history?

I'd assume most marinas are more interested in your liability than your hull coverage (if your boat is damaged that makes it your problem, they only care about damage you do to others or to their docks) but I can't say that definitely since we have both insurances - this boat is our only home.


----------



## lewharve (Apr 17, 2002)

the boat is a 1980 CAL 39 and we will keep it in fla this year. as we work for FEMA during hurrican season we can put it up. but we plan to sail at least to philly next year. so if I just carried liability it would be less than a grand do you think?
if you live abord at least 51% of the time, FEMA will help to repair the boat if it is in a declared disaster.


----------



## MarkSF (Feb 21, 2011)

Having got boat insurance for the first time last year, I can tell you the quotes were all over the map.

Two suggestions : Boat US, and State Farm.


----------



## hellosailor (Apr 11, 2006)

lew, your insurance rate will depend on your own credentials, past ownership of similarly sized vessels, years of experience, geographic location, sailing areas covered, and almost anything else that can be used to identify you as a potential risk, including credit history, past employment, and having a home on land or being a vagrant. (So to speak.)

When in doubt ASK your insurer what criteria are being used and if you can do anything about them. A real broker can give you answers. Sometimes taking USCG Aux or USPower Squadron classes--or joining the organization--can get you a better rate.

But if it is your first time owning a large boat, and it is an older boat, and you have no home on land, and you're in hurricane country....Yeah, that may cost you.


----------



## MarkSF (Feb 21, 2011)

sidney777 said:


> I've seen no ryme or reason for insurance in marinas. Some marinas use ins. requirement to keep certain people out. Some of best marinas in panhandle Florida and Alabama did not require ins. (I have State Farm). Boat US wanted a take out of water survey this time, but not 6 yrs ago!.... One marina had a boat catch fire and now wants LIABILITY INS. In my experience; marinas only wanted liability ins. Also, none of them KNEW if they wanted Full coverage ins (strange but true). I'm sure some know.


Sounds like my experience with Boat US... the survey I'd just had done wasn't "detailed enough" so I'd have needed another out of the water survey. This was after I used a surveyor on their approved list. Been with State Farm for 2 years now, no problems.


----------



## joethecobbler (Apr 10, 2007)

insurance= gov't backed extortion.
ever been to Vegas ? the favorite phrase is "insurance is for suckers"
But if you must, you must.
Last time I checked Progressive will offer liabiity w/ no haul out or survey quoted me $500 for a 30 + year old 32' FRP sailboat, a year or two back.
I also stayed a couple months at a marina in Fl. that "required liability" , although I had none at the time it was overlooked, the dockmaster basically told me he uses it as a reason to weed out the undesirables. 
As with most things in life , its who you know and who you get along with.
Great when it goes your way.
Anchoring is much more pleasurable, and much more economical.

have fun, if your not, what's the point ?


----------



## SkiddieDon (Apr 26, 2012)

From an Insurer's point of view, a boat is a fragile thing and Florida is prone to hurricanes as we all know it. During a hurricane, you dont just risk the boat being washed away but also stuff hitting your hull, considering that it is a pretty old wooden boat, the cost of insurance will just increase, because not only the hull has to be insured but the boat as a whole as well, then there is the cost of Surveying the hull. 8.5% is a pretty good rate considering the age of your boat, if I were you, I would continue with it.


----------



## nsweeting (Sep 30, 2011)

Or just get a steel boat. Thats enough insurance for me.

Having stayed long term, and short term, and every term in between at various yards and marinas - I have not once been asked to provide proof of insurance. Maybe I've been just lucky though.

In my opinion at least - there are many better things that money could be spent on. Like a heavy anchor, lots of chain, good line, good chafe guards, and actually going cruising and getting experience that will help prevent trouble. My 2 cents at least....

Then again, we also haul out during hurricane season.


----------



## smurphny (Feb 20, 2009)

joethecobbler said:


> insurance= gov't backed extortion.
> ever been to Vegas ? the favorite phrase is "insurance is for suckers"
> But if you must, you must.
> Last time I checked Progressive will offer liabiity w/ no haul out or survey quoted me $500 for a 30 + year old 32' FRP sailboat, a year or two back.
> ...


 Agree mostly. Insurance is a really good idea that people have managed to screw up...as most common sense ideas. Everyone pooling $ so that all are covered in case of bad luck is a great idea, a no-brainer. It's the cheating, money-grabbing, fraudulent nature of people that make it largely a scam wherein insurance companies mostly have to figure out how to avoid paying legitimate claims.


----------



## travlin-easy (Dec 24, 2010)

I recently discovered something about insurance that really pissed me off. I've been with the same insurance company for more than 3 decades. They insure my home, two cars, boat and my musical equipment. In more than 30 years, we've never had a claim for an auto accident that was our fault. Five years ago, however, I had someone broadside my van on I-95 that did not have insurance. I had a $500 deductible for collision, but the van was totaled. My van was in fantastic condition, a custom conversion van with a "U" shaped couch that converted into a queen size bed, TV, all the bells and whistles. It was 10 years old, had nearly 150,000 miles on it, but ran like a Swiss watch. The insurance company gave me $1,500 for the van, claiming it was too old to fix. 

Two years ago, my wife was slowly driving down the isle of a shopping center parking lot when someone backed out of their parking space without looking. They hit her car on the rear door, doing about $1,200 in damage. The door had to be replaced, the center post and frame straightened, and a partial paint job. Her deductible was $500, which she paid to the repair shop. The person who backed into her did not have insurance, consequently our insurance company had to pick up the tab.

Now, here's the kick in the a$$! Our insurance company raised our rates for the next three years to cover the cost of those two accidents. WHAT! The accidents were not MY fault or MY WIFE'S fault--they were the fault of two, uninsured motorist. What the Hell am I paying insurance for? The above post hit the nail on the head--Insurance is Government Sponsored Extortion--nothing more.

I had a friend that just went through the same thing two years ago when some whacko on a jet ski slammed into the forward quarter of his 30T-Catalina. The jet ski punched a 4-foot hole in the hull, the insurance company claimed the boat was a total loss, paid him $27,000 for the boat and walked away. His boat had an assessed value of $45,000, but that didn't count when it came to the insurance company--they could have cared less. After a year of looking for another boat, he settled on a 32.5-Morgan that was a few years older, but in great shape. He wheeled and dealed and managed to get a great price on the Morgan, but he said he would rather had the Catalina instead.

The irony of all this is the guy that slammed into his boat with the jet ski purchased the Catalina from the insurance company for about $4,000, patched up the hole, and the boat is still berthed at the same marina. I've never seen it sailing, but I guess the new owner uses it once in a while.

My suggestion for insurance is to go with the company that charges the lowest premium--they all a bunch of crooks!

Gary


----------



## joethecobbler (Apr 10, 2007)

A common story, gary.
On another sight I read a posting saying all cruisers are essentially self insured.
My eyes widened as the poster explained self insured to him meant having and using proper ground tackle and learning and understanding the trade of voyaging under sail.
An excelent explanation .
Another approch was that you need only insure that which you cannot afford to replace.
It therefore makes sense that "budget minded" cruises/adventurers often do not /will not purchase insurance . due in part to there financial standing and in part to the fact that often the areas they choose to cruise are often excluded in coverage. Add that to the previous "self insurance" and it becomes clear why their is a difference between casual sailors/boaters and those with the "go now - go small - see it all " approach.
Sailing means different things to different people, has been around much longer than insurance and I'm sure will remain long after. 
Each to there own , I guess.


----------



## snaxbox (Sep 20, 2012)

travlineasy said:


> My suggestion for insurance is to go with the company that charges the lowest premium--they all a bunch of crooks!


Talking about being unlucky really. Did you switched insurance companies already? I'm also looking for a company that offer cheaper rates. I don't know if my current company is charging us the right rate since it goes up unreasonably recently so I'm ditching it now.


----------



## Minnewaska (Feb 21, 2010)

I hate the insurance carriers, but do find value in local agents that can sort through all of this. 

Here is a caution with cheap rates. Most states have highly regulated the insurance industries, including their rates. When one provides a rate that is more than 5% or maybe 10% lower, you can be almost certain you have less coverage. Perhaps that's fine with you, but then you can't complain that you have a loss they don't pay on. A good agent can professionally explain the real differences in what you are buying.

Personally, I want the most coverage for the lowest cost, not just the lowest cost.


----------



## mcwhale (Sep 29, 2012)

Try to register in Liberia: you will find out, that while undergoing the procedure to register in EU (as for my situation) is much lower - that's how we found peace with our insurance bills
regards
mcm


----------

