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Thread: Insurance Premium Time, Again
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Re: Insurance Premium Time, Again
Sky Cheney
1985 53EDMY, Hull #CN759, "Rebecca"
ELYC on White Lake--Montague, MI
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04-22-2019 09:58 PM #42
Re: Insurance Premium Time, Again
This may be off topic but was curious why insurers are more hesitant to cover live aboard situations. I know when I am on my boat I tend to find potential issues and fix them prior to their becoming a problem at sea. If I were to just get on my boat and go offshore I would probably have more near miss situations. I just spent 4 nights on the boat and found myself fixing little things that I normally wouldn't have time to do. I know the more a boat is used in many instances is better for it.
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04-23-2019 12:29 AM #43Senior Member
- Join Date
- Apr 2005
- Posts
- 2,771
Re: Insurance Premium Time, Again
Although I was not a live aboard, I always felt that the various places that I stayed with my boat had
some real advantages. Live aboard folks generally know the boats and the people that own them so
if a stranger appears it raises a flag. I never understood why some insurance companies shy away from
live aboards. Probably most of the bean counters who make decisions are not familiar with boat life.
Walt
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05-03-2019 11:52 AM #44Senior Member
- Join Date
- Jun 2007
- Posts
- 4,974
Re: Insurance Premium Time, Again
They were really helpful (I dealt with KC, she's sharp). But the quotes they got back were about $1000 and $1500 more (30-60% higher).
Garrison at http://maritimeinsuranceinternational.com/ was able to get a competitive quote using geico, go figure. I think going through a broker instead of BoatUS direct may have more negotiating power.FTFD... i drive a slow 1968 41c381
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05-03-2019 03:33 PM #46Senior Member
- Join Date
- Jun 2017
- Posts
- 96
Re: Insurance Premium Time, Again
Slightly off topic. What are premiums on 1500000 1.5million dollar boat? You would have to have full coverage and an agreed on value?
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05-03-2019 04:19 PM #49Senior Member
- Join Date
- Jun 2017
- Posts
- 96
Re: Insurance Premium Time, Again
I was just looking at a rough figure from looking at what others are paying for 150k boat. One company would not give a quote. Don't remember the company as it was 6mos ago. Just getting a figue if I were to get another boat been bout less for 8 yrs now. Agree with you on so many variables.
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05-03-2019 05:11 PM #50Senior Member
- Join Date
- Jun 2007
- Posts
- 4,974
Re: Insurance Premium Time, Again
Considering I have a 51 year old boat, I only have hull insurance for total loss (which I would likely buy back). Of course I could be wrong, but I have a feeling if I made a "small" claim, I may have trouble getting insurance again (or the premiums would be excessive).
FTFD... i drive a slow 1968 41c381