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Old 22-01-2008, 06:41   #1
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Boat Insurance in Florida

We'll be keeping OPTIMYSTIQUE in Florida this year. Our present policy requires that we be North of Cape Hatteras between 6/15 and 11/1. I've checked into Boat/US at $4400 and Allstate at $825. We'll not be going to the Bahamas this year so the 100nm limit with Allstate will work. We'll get the policy from our agent in Tennessee and all the limits/coverages seem to be the same.
I getting ready to change unless there is some MAJOR reason not to.

Wm Mayberry
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Old 22-01-2008, 08:25   #2
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Doesa Allstate give ya "Agreed Value" in case of a loss, or "Market Value".?

The difference could easily be 50%.

Let me know and I will switch to Allstate in a heartbeat if they offer "Agreed Value"....
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Old 22-01-2008, 08:44   #3
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I have All State and it's not agreed value.
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Old 22-01-2008, 10:30   #4
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This is a "Premium something" policy that is relatively new.
It is an "agreed value" policy. It is about 1/2 what we had (from Allstate)before we changed last year in order to go to the Bahamas.

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Old 22-01-2008, 12:36   #5
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Yes, that could be as our policy is about half yours. I thought the agent said the premium was the same in FL as it is here in VA. Other than the 100 nm mile limit it's been a good policy. We get a discount on the autos for having the rest of our policies with them.
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Old 22-01-2008, 15:17   #6
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It is an "agreed value" policy. It is about 1/2 what we had (from Allstate)before we changed last year in order to go to the Bahamas.
Good deal, I will contact Allstate.

Do you have a link for your agent's webpage?

Any limit on boat being more that 10 years old?
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Old 22-01-2008, 15:31   #7
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Any All State Agent works. I never was much of an All State fan until I move to VA. My former company didn't want my business and the guy we bought the house from was an All State Agent. He was a great agent. If you don't like your insurance agent then you really need to dump them. Having a good agent makes the difference.

10 year limit? Don't think so. Shadowfax was covered so you should be fine. Not sure how recent a survey you will need though. I always started the insurance after I bought the boat so that part was simple. A copy is fine the agent just needs one on file.
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Old 22-01-2008, 17:42   #8
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Roger on that Mr. Paul.

The renewal for BoatUS just came in the mail, $2,077.00 due February 15th.
Gives me time to check with Allstate..
I did talk to them a few years ago, but then it was "market value" and that could hurt me bad as some CSY 33s have sold for $25K and some for $35K..If some insurance guy use those for "comparables" I'd be screwed as I have $90K in my boat, (Surveyed at $60.K)

Thanks for the heads-up on Allstate's new policy of agreed value.

D
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Old 22-01-2008, 19:16   #9
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She is a treasure that is for sure.
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Old 22-01-2008, 20:18   #10
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I'd think a twice about allstate.. Had an accident a few months ago where a young woman ran into the rear of my jeep. Her company is allstate, I only carry liability and medical so I had to go after them in court to regain my loss.
I won the case and the court ordered the woman and her dad (regestered owner)to pay the damage,
Allstate has backed off letting them take the blunt of the load to the point that I have put a lien on the the two of them and am about to attach their assets.
I recently got a letter from allstate saying they are investagating the accident and will be in touch..
I think its pretty chickenS**t for an insurance company to leave you hanging and when speaking to attorneys, Allstate is said to be the worst company to work with when it comes to resolving a claim.
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Old 22-01-2008, 21:28   #11
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I think that is usually true for most Insurance companies! They are your best friends when it comes to you paying them, but MAN when it comes to claims, they become hard a$$ and unreachable. And even when reached, they will find every single loophole to get out of paying.

Not saying all agents or companies are bad, this has just been my experience. So don't start bashing.
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Old 22-01-2008, 21:28   #12
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Allstate is said to be the worst company to work with when it comes to resolving a claim.
Heard that too as far as them guys paying claims in the boat business.

Piss poor service may be worth a 70% discount on premiums however.
If the fine print says they will pay my loss and if they don't, I will call Tony Soprano...No problem bro.
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Old 23-01-2008, 05:25   #13
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Our boat is a 1995, so I had to send them a survey, but I had to get one last year when I changed to Travelers so just sent a copy.

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Old 23-01-2008, 08:23   #14
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Spoke to an agent this morning Florida Insurance: Boat, Yacht, Motorcycle, RV, Motorhome, Marine, Auto about boat insurance. He said Allstate and Progressive would not touch me for the bad combo of having a boat less than 10 years old, more than 30 feet and located in Florida.
Also something about max $20K coverage for the 1979 vintage boat even if it was less than 30 or some such thing.

The agent was helpful however and he is going to contact several other companies to get me a quote. Had to e-mail him the most recent survey however (4 years old) and he said I needed a full "out-of-water" survey before I could get new insurance.
(Not a big deal around here, Ft. Lauderdale is full of boatyards and surveyors)

Since I purchased my boat in December 1998 I have had several different insurance companies.
THe first one was great, National Marine Underwriters, they charged me $700.00 per year, then after 4 or 5 years they pumped it up to $2,100.00.
Switched to BoatUS then for a few hundred less. Had those guys for 2 years then switched to the "Power Squadron", they had a program for "safe boaters" and my premium went down to $1,200.00.
2 years and 3 hurricanes later they pulled out of Florida and I went back to BoatUS last year for $2,077.00.
Now my policy is up for renewal in February and I am looking around for deals...
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Old 27-01-2008, 11:21   #15
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Give theses guys a try Boat insurance, yacht insurance at Strickland Marine Agency

Ask them to get a quote from National Interstate. I have an old 1985 40 footer in Florida and I was very plesently surprised with the quote. It was a much better policy (agreed value) and came in at 30% cheaper. I prefer IMIS as brokers but at the end of the day It's the policy that was more important to me.

Let me know how it works out for you
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