Insurance rates and companies

Discussion in 'Northeast' started by tony1b2000, Oct 5, 2018.

  1. Gofirstclass

    Gofirstclass Well-Known Member GOLD Sponsor

    Apr 20, 2010
    Tri Cities, WA
    1995 550 Sedan Bridge,
    2010 Boston Whaler 130 Super Sport,
    1981 Boston Whaler 130 Sport,
    CAT 3406C's, 580hp.
    Mike, that must be a local law from your state. I just pulled my policy out and checked two things:
    1. Protection and indemnity has a limit of $500,000 and I pay a premium for that.
    2. Accidental Fuel Spill Coverage has no deductible and is included in the policy with no additional premium.
     
  2. MonacoMike

    MonacoMike Well-Known Member

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    Would this not be covered by the "Accidental Fuel Spill Coverage has no deductible and is included in the policy with no additional premium"?

    MM
     
  3. Gofirstclass

    Gofirstclass Well-Known Member GOLD Sponsor

    Apr 20, 2010
    Tri Cities, WA
    1995 550 Sedan Bridge,
    2010 Boston Whaler 130 Super Sport,
    1981 Boston Whaler 130 Sport,
    CAT 3406C's, 580hp.
    Mike, you're absolutely right. In a yacht policy that's how it's written. In a boat policy, any cost for fuel recovery and cleanup comes off the agreed value of the policy and whatever is left over after the cleanup has been paid for is left to pay for the boat.

    At least that's how it was explained to me when I was talking with my insurance broker.
     
  4. JVM225

    JVM225 Well-Known Member

    Apr 8, 2008
    Farmingdale, NY
    2002 410 Sundancer, Monaco Edition.
    3126 Cats.
    I’ve got a Yacht Policy with AIG through NBOA. Price was very competitive when I was shopping around in December of 2016. NBOA is also pretty easy to deal with as a brokerage.
     
  5. Southern Cross

    Southern Cross Member

    51
    Jul 29, 2013
    Alexandria, VA
    2005 320DA
    Twin 350 MPI, V Drives
    We have our YP through Markel. USAA referred us to them. Rates seem decent and customer service has been good. We have never had a claim though (thankfully).
     
  6. sbw1

    sbw1 Well-Known Member

    Oct 10, 2006
    West Michigan
    This is listed in my signature
    This is listed in my signature
    Progressive is owned by people who support left wing causes. George Soros used to be involved but is no longer. Still the owners use the profit motive to bash our system. Company is well named.
     
  7. MonacoMike

    MonacoMike Well-Known Member

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    Very true.

    MM
     
  8. Todd M Caldwell

    Todd M Caldwell Member

    58
    Oct 7, 2018
    Port St Lucie, FL
    1998 290 Sundancer
    5.0 Alpha
    We are getting Sea Insure, Rates and coverage is good!

    Todd
     
  9. MonacoMike

    MonacoMike Well-Known Member

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    Direct or from a broker?

    MM
     
  10. PMC

    PMC Well-Known Member

    Apr 10, 2009
    Long Island, NY
    2001 40 Sedan Bridge
    Cummins 6CTA
    We're with NBOA and the same underwriters. They are one of the few companies that did not have a separate wind storm deductable. My only gripe, is providing a current survey every 5 years. Factoring the costs, they are still very competitive.
     
  11. JVM225

    JVM225 Well-Known Member

    Apr 8, 2008
    Farmingdale, NY
    2002 410 Sundancer, Monaco Edition.
    3126 Cats.
    They asked me for a C&V survey a month or so ago. I sent them the pre-purchase survey from December of 2016. Oddly, they didn’t ask me for the survey when I first insured the boat with them in December of 2016.
    They accepted it but said I’d have to provide a C&V Survey again in 2021.
    No big deal. I’ll pay for the survey, and as long as I have a fresh survey in my hands I’ll contact two or three marine insurance brokers for fresh estimates before committing to them again.
    Never hurts to re-evaluate insurance every 5 years or so anyway.
     
  12. MonacoMike

    MonacoMike Well-Known Member

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    A good strategy. I have heard from the broker they are not as picky about surveys for freshwater vessels.

    MM
     
  13. frosh coach

    frosh coach Member

    158
    Apr 20, 2011
    Long Island Sound, New Haven CT
    1994 300 Sundancer
    1989 230 Cuddy (SOLD)
    Twin Mercruiser 350 FWC, Alpha 1 Gen II
    I have liberty mutual. I've had one claim (new outdrive) over the 7 years I've owned the boat. The rates are the same as yr 1.
     
  14. Todd M Caldwell

    Todd M Caldwell Member

    58
    Oct 7, 2018
    Port St Lucie, FL
    1998 290 Sundancer
    5.0 Alpha
    Direct from Sea Insure
     
  15. Boater71

    Boater71 Member

    68
    Mar 5, 2018
    WTB: 2008-09 Sea Ray 310 Sundancer
    MX6.2 MPI Bravo III DTS with Axius and SeaCore
    I'm closing on a 08 SR310 in couple of weeks, any insurance recommendations? MarineMax in RI will store the boat for me and launch in Spring. Should the policy include or exclude nay thing until the season starts? I will be boating in MA.
     
  16. Todd M Caldwell

    Todd M Caldwell Member

    58
    Oct 7, 2018
    Port St Lucie, FL
    1998 290 Sundancer
    5.0 Alpha
    I had a "Insurance Survey" done ($450.00), so that I could shop around for better rates, Thou I am leaning towards Sea Insure. I've found that Insurance companies vary greatly with Rates and Coverage. Due Diligence is a must, do your homework and check the reviews and ratings etc.
    a few will ask how the boat will be stored and for how long. Not only in the off season but also during a "Named" storm. I would keep insurance during the Off Season.... you never know what could happen. Would MarineMax Cover and damage to your boat if the roof of the building fell on the boat?

    Todd
     
  17. Steve S

    Steve S Active Member GOLD Sponsor

    755
    Jun 5, 2007
    Northern IL.
    2000 400 Sedan Bridge with twin CAT 3116's

    2000 340 Sundancer - SOLD!
    210 Monaco 1987 - SOLD!
    Twin Caterpillar 3116's 350 HP straight drives
    Make sure that you get a “yacht policy” versus a boat policy.
     
    MonacoMike likes this.
  18. Russ Calasant

    Russ Calasant Active Member

    Dec 9, 2009
    East Greenwich, RI
    2001 480 DB
    CAT 3196
    Find a good broker, needs and coverages are very different as is reading and understanding the policy and coverages- not to mention a claim advocate.If you need one let me know and I will connect you to mine. Invaluable- especially if someone else is at fault.
     
  19. Boater71

    Boater71 Member

    68
    Mar 5, 2018
    WTB: 2008-09 Sea Ray 310 Sundancer
    MX6.2 MPI Bravo III DTS with Axius and SeaCore
    Yes please, i sent you a text.
     

Share This Page

Show Sidebar