You can get a liability only policy on a boat much easier than full coverage. I thought I was going to have to go that route but found a broker that was able to get me on with Geico for just under 3 grand for 88K coverage and 5K deduct. Still wonder if its worth it
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Thread: Insurance Premium Time, Again
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04-21-2019 09:29 PM #31
Re: Insurance Premium Time, Again
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04-22-2019 09:03 AM #32
Re: Insurance Premium Time, Again
I went through that same process back in December, and got that response from numerous insurers. Interesting all the forms I had t fill out to try. Boat US (which is Geico) gave me an instant quote with out care of age of vessel or captain, any survey, or any other factors. When the quote came back for a $150,000 value for $1,200. I was so excited! Turns out that was per month over a 12 month period!!!
Went with Voyager Marine Insurance out of Texas [800-342-4444]. I had to supply recent survey, operators experience, and home port, but turned out very reasonable. about $4500 total for the year.
On my other boat, I had an electrolysis claim with Geico when the water heater shorted out after I moved off the boat. they fought tooth and nail but were very accommodating over the phone. Their surveyor made a bigger deal of it then it was, and some how pushed us to a yard that was run by her friend!?! anyway claim was denied but insurance did pay for the haul and block! Big Insurance is a scam.Last edited by riverrandy; 04-22-2019 at 09:09 AM.
riverrandy
1975 64' MY Hull# 305
Merritt Island, FL
Cape Crossing Marina
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04-22-2019 10:31 AM #33Senior Member
- Join Date
- Jun 2007
- Posts
- 4,974
Re: Insurance Premium Time, Again
Insurance used to be a service, often provided by clubs that limited the participants. But then it became a profit center for the money changers. I'm sure the ZIRP (zero interest rate policy) has caused more fund managers to turn to insurance industry to get returns for their clients. Every dollar they don't pay out is a dollar in their pocket!
FTFD... i drive a slow 1968 41c381
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Re: Insurance Premium Time, Again
Here in SF, Geico/Boat US is about $2500 annually at the moment on our 1978. Given the new 80/20 things I am reading about for vessels 20-Plus years-old, perhaps we’ll start shopping around. Renewal is in August for our 53MY! Soon to be a 42-year old boat!Chuck B
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Re: Insurance Premium Time, Again
Wow listening to what you guys are paying for insurance is amazing. Seems like everything in California is more expensive except for boat insurance. Our policy is for $200,000 value full coverage for just under $2000.00 a year in San Diego. I guess when you remove weather from the equation the price comes down pretty fast. John
Mahalo V
1974 53 Motoryacht
Hull Number 406
San Diego, Ca. Ready 32 Nordic Tug, Brunswick Ga.
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04-22-2019 11:20 AM #36Senior Member
- Join Date
- Jun 2007
- Posts
- 4,974
Re: Insurance Premium Time, Again
They replied to me no market because of age of the boat. Nothing for lower agreed value, not even liability only.
ALSO: what the heck is up with insurance companies only wanting to insure for the PAID value of the boat, even with agreed value policies and a survey showing the true value of the boat?FTFD... i drive a slow 1968 41c381
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04-22-2019 11:22 AM #37
Re: Insurance Premium Time, Again
Fall atlas in cocoa. Ask for Jim or Rusty. They're pretty good at finding solutions.
Scott
41C117 "Hattatude"
Port Canaveral Florida.
Marine Electronics and Electrical Products Distributor.
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04-22-2019 11:22 AM #38
Re: Insurance Premium Time, Again
Call atlas in cocoa. Ask for Jim or Rusty. They're pretty good at finding solutions.
Scott
41C117 "Hattatude"
Port Canaveral Florida.
Marine Electronics and Electrical Products Distributor.
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04-22-2019 11:39 AM #39
Re: Insurance Premium Time, Again
Boat US/Geico on our 46 year old 43DC was $900/year, but they would only insure the vessel for $41K. That was selecting the highest liability limits. Home port in Virginia.
Robert
MANCHIONEAL
1973 43DC #365
Mattox Creek, VA
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Re: Insurance Premium Time, Again
--- The poster formerly known as Scrod ---
I want to live in Theory, everything works there.
1970 36C375