Florida Insurance

B

becnme

Active Member
Oct 31, 2008
285
Fort Myers
Boat Info
2009 Formula 45
Engines
Volvo Penta 600 IPS
I am looking for insurance company suggestions from any Florida boaters with 10 year or older boats. I am looking at 400-410 Express Cruisers and a few Sundancers in the 2000-2003 range. Have been told it is harder to insure boats in Florida that are 10 years or older. One quote was even much higher than my 370 Intrepid with a top speed of 50!
 
Are you looking for insurance through traditional insurance agencies like Allstate, State Farm, Geico, etc., or are you looking for insurance from a specialty marine insurance broker?

Look in the back pages of any national boating mag and you should find ads for marine insurance brokers.
 
I use Ski Safe as a broker. They had the best price around.
 
Part of the hassle is proving value to a Florida underwriter. Almost all (all!) companies who write coverage in Florida will require a current survey of an older boat. You are smart to shop insurance now because the timing of your survey is important.

Cconsider NBOA.......I've been with them several years with good success.
 
I had State Farm with my 26' Crownline. Asked them to insure my 340DB and they said we don't insure inboards. Went with Allstate. That boat sunk and when I asked Allstate about this boat Allstate they don't insure boats over 40'. Any ins.co. will ask for a survey and appraisal for a boat > 10 yrs. old (not just in FLA).
 
rondds said:
Any ins.co. will ask for a survey and appraisal for a boat > 10 yrs. old (not just in FLA).
Click to expand...
Not always. My boat was 15 years old when we bought it. I had it surveyed prior to the purchase but the insurance company didn't need a copy. I renewed the insurance this year and now, because the boat is 20 years old the insurance company wanted a survey. It wasn't a problem and passed with flying colors.

becnme, when you talk with an insurer, have them explain the difference between a 'boat policy' and a 'yacht policy'. There are HUGE differences between them. Don't buy a policy based on "it's cheap" because that may come back to bite you on the arse.
 
Progressive through McGriff Seebold - agreed value with Bahamas rider and no specifics for declared storm except higher deductible.
 
Thanks for the info. Progressive has had the best price so far. I do know about the difference between boat and yacht policies and required surveys.
 
Also, you should know that most marine insurance rates are determined, in part, by your credit score. Also some companies will insure without a survey but with increased premiums which they may neglect to disclose to you.
 
Are you a resident of Florida or living out of state?

I fall into the nonresident category, insurance is "special" category.

Mark
 
Hi, have a Sea Ray Sundancer 320 for more than 6 years, I got my insurance with Boat US, I call geico and other companies and they didn't cover it for storms, ?whats the point to have insurance in Florida without storm included? I don't know they are the cheaper or more expensive, I also have the BoatUS towing included paying a little extra fee of 165 $ a year Gold unlimited Towing, I just got a Sea Ray 400 sedan bridge, I call Boat us, send them the survey and got the insurance in a few days with no problems also with Towing. For the 400 DB I am paying like $4000.00 a year for a value insured of $ 110,000.00
Hope this info can help you.



FeLiz Dream
Sent from my iPad using Tapatalk
 
Holy dollar signs FeLiz - you need to shop around....
Essentially the same boat in Central Florida, agreed value yacht policy, Bahamas rider, $500K liability, $500 deductible, great theft coverage, full salvage and environmental coverage for a tick over $2800 per year.
 
That is very high. I am non resident, I do have a hefty deductible, 20 %, for named storms. Your rate for value covered is 2.5-3 times what I am paying.

I have full max limit on environmental, most of the optional riders for damaged boat recovery.


Mark
 
Try Global Marine, although not in Florida, we pay $2100 for $170K coverage. 8% deductible during named storm. 3% normal. They are in Michigan.
 
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