New Owner Insurance Question

Hi everyone,
been lurking here for a while ready all the great information. I bought my 1980 61MY in Salem, Ma in April and brought her home to Dunedin, FL near Clearwater/Tampa.

I bought a policy with Boat US and am wondering if the numbers are good or bad.. Seems high to me but looking for your wise advice.

We are being charged $7200 annually.

Finding a policy during the purchase was a chore so I just went with them. Now that we are home and settled we are ready to get some feedback and quotes...

Thanks!

Dan

What was the surveyed value? It seems high to me, but I don't live in that area and I know the premiums are higher in FL because of storm risks- at least I think so.

Surveyed at $130. She needed a ton of clean up and needed some systems fixed. We have fixed everything and she is beautiful. 99% interior wood is flawless... The PO had so much garbage on her that the surveyor could not even get to some areas hahah Took a week and a dumpster to clean her out before we left to come home.

I think that is low and will be getting another survey once all the remodel is completed and electronics are updated.

So basically, we are paying $7200 for hull value of $130

There are a few markets that will do this I may be able to help. Boat is/geico in general is expensive

Boozubay

PM me for my number. I keep my 53 in Mad Beach. Youre paying quite a bit and can put ya in contact with some good options as I just finished insurance shopping myself.

Adam

Following this- we have a1979 yacht fish and paying more than that. value 185k w a 3% ded. shopping to renew soon.

Just for comparison
I'm on the west coast
Agreed upon value of $350,000
Annual premium $2900

Also in Mad beach. Call atlas on the other coast. I think we’re just over 2 K for 86K value on our 46. Written through Progressive and include towing insurance.

Oh man. 1989 60 260k. 10,000 through Geico. Still shopping

Russ or Jim at Atlas in cocoa Florida are good contacts

It may have a lot to do with the (perceived) condition of the boat. I am on the east coast and my policy with BoatUS/Geico was $3100 for $130k. I recently dropped it down to $100k and also got a discount because I have car insurance with Geico, and the policy is now $2600.

I am in Tarpon Springs just North of you and just renewed with Geico. Wallace, Welch and Willingham in St. Pete wrote the policy with Betty Southard as my agent. With a hull value of 88K I am paying just under 3K and that includes part time charters. I do get a discount for my captains license. I think its a couple hundred. I would call Betty especially being so close.

Thank you all for the input. I will be making some calls today and let you know the outcome.

Ouch! Regional differences are crazy.

Pacific NW, 76 Yachtfisherman at $305K value: $3811 annual. Twin River Marine Insurance agency, underwriters: U/W Division. IMU Ocean Marine