Boat Insurance

[hack4alivin]

I got my bill yesterday for the boat insurance, $1700 a year for 170k worth of coverage. This seems high to me. Any good ideas for insurance brokers to call?

 

[First Born]

http://www.clubsearay.com/forum/showthread.php?t=13710&highlight=NBOA

 

[MAKC]

mine was $800 per year with 140k of coverage. Your insurance seems way high... I have NBOA btw.

 

[tawcat]

We are insured through Travelers (The Standard Fire Insurance Company. One of The Travelers Property Caualty Companies. One Tower Square, Hartford, CT 06183)

We are insured for $161,000 replacement value and then of course all the normal liabilities etc. We pay $891 per year. When we were looking, Boat US was $880; and then we got a few others, Zurich and Ski Safe come to mind, both of them were like $1300. The highest quote came from The Hartford, premium of over $3,000 per year.

Hope this gives you a pretty good idea of whats out there. Reason we went with Travelers for a few bucks more, is they carry our house and two cars. We've been doing business with this agency since the '80's.

 

[hack4alivin]

Thanks ALL, Looks like I have some shopping to do:thumbsup:

 

[skibum]

I called NBOA this summer after getting a SR owner's club flyer. I was insured with State Farm at $840/yr. NBOA hooked me up for $393 with better base coverage, $1000 towing coverage, and salvage coverage, which SF knew nothing at all about.

Michael

 

[mrsrobinson]

I got my bill yesterday for the boat insurance, $1700 a year for 170k worth of coverage. This seems high to me. Any good ideas for insurance brokers to call?

We are with Erie and like them a lot. We recently increased our deductable from $500 to $1000 and it made a big difference in our premium.

 

[dpmulvey]

$1200 per year payable monthly through Progressive. I think the deductable is $500. HOWEVER.....I am shopping around as well. There are standard exclusion clauses that look like they should be in an Elmer Fudd Cartoon. I learned that this morning on another site. Read your policy. Some very common things may not be covered. Only then will you know how much your policy was worth vs. what it cost. BOATUS is sending me a sample yacht policy. I am going to talk to NBOA as well.

 

[HAMBONE2]

i have 275k mine is 1700 a year

 

[The Bill Collector]

I was referred to Anchor Marine in Seattle by our local SeaRay dealer. Lloyd's of London underwrites for them.
I have $240k with 1.0% deductible insurance for $1300 per year.
Anchor Marine Underwriters Inc
206-273-6996

 

[douglee25]

I just got a quote from NBOA this afternoon. They were a little lower than my BoatUS policy. I am checking into the specifics to make sure the coverages are equal if not better before I make a decision.

Doug

 

[Turtlesboat]

I was referred to Anchor Marine in Seattle by our local SeaRay dealer. Lloyd's of London underwrites for them.
I have $240k with 1.0% deductible insurance for $1300 per year.
Anchor Marine Underwriters Inc
206-273-6996

That's a good price.

 

[hack4alivin]

I just got a quote from NBOA this afternoon. They were a little lower than my BoatUS policy. I am checking into the specifics to make sure the coverages are equal if not better before I make a decision.

Doug

Doug,

My cost difference was major, but my deductible is much higher. But then the deductible is something I hope I don’t need to use anyway. If I do, the difference in one year’s premium will make up for it. We had the policy changed today.

 

[prosedge29]

Bill, I also switched to NBOA in November. I was able to keep the same deductible and save over $600 a year!! Same coverage!!