Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 26-05-2010, 13:05   #1
Registered User
 
morays's Avatar

Join Date: May 2010
Location: Houston, TX
Boat: caliber 40
Posts: 20
Gulf Coast Boat Insurance

Hi, newbie here,

I have been living and working in the Houston area for 14 years and have made the decision to but a boat and move onto it. I am in the process of buying a Caliber 40 (pre LRC - 1993). I have inquired about insurance and have received back quotes ranging from $3,500 to $4,000. know that we have had our share of hurricanes in the last years but this seems a little steep. Can anybody corroborate these prices from what they have already or what they have been quoted?
The value of the boat is approximately $140,000.
Any help would be greatly appreciated

Moray
__________________

__________________
morays is offline   Reply With Quote
Old 26-05-2010, 13:13   #2
Senior Cruiser
 
skipmac's Avatar

Cruisers Forum Supporter

Join Date: Oct 2007
Location: 29 49.16 N 82 25.82 W
Boat: Pearson 422
Posts: 12,381
Seems little on the high side but you are in the hurricane zone. Rates also vary a lot based on your years of boating experience, any official courses or certifications, etc.
__________________

__________________
The water is always bluer on the other side of the ocean.
skipmac is online now   Reply With Quote
Old 26-05-2010, 13:31   #3
Registered User
 
morays's Avatar

Join Date: May 2010
Location: Houston, TX
Boat: caliber 40
Posts: 20
Skipmac,

Thanks for the quick reply. This will be my first boat that I have owned but I have been crewing and racing boats for the last 6 years in the Gulf Coast. I am also ASA certified up through Coastal Navigation. I realize that this is not the same as USCG certification but I intend to work on my 6pack license once I live on the boat as I would be able to rack up the hours required with my own boat.

Moray
__________________
morays is offline   Reply With Quote
Old 26-05-2010, 13:51   #4
Senior Cruiser
 
Sailmonkey's Avatar

Cruisers Forum Supporter

Join Date: Sep 2009
Location: Houston
Boat: '76 Allied Seawind II, 32'
Posts: 5,780
I feel your pain......We opted for liability only based on the total amount we've got in the boat and the rate of diminishing returns for full coverage being in a hurricane center.
__________________
Sailmonkey is online now   Reply With Quote
Old 26-05-2010, 13:58   #5
Registered User
 
s/v Moondancer's Avatar

Join Date: Nov 2008
Location: Fiji but heading for Alaska
Boat: Tayana 55
Posts: 1,225
I paid $3,300 for $100,000 in Miami after Katrina and Wilma went through, up from $2,800 before the hurricanes.
__________________
Phil

"Remember, experience only means that you screw-up less often."
s/v Moondancer is offline   Reply With Quote
Old 26-05-2010, 14:35   #6
Registered User
 
svHyLyte's Avatar

Join Date: Mar 2006
Location: Tampa Bay area, USA
Boat: Beneteau First 42
Posts: 3,434
Images: 25
We are situated in the Tampa Bay area and are paying about $3,750 for $105,000 of coverage with a Markel American Helmsman policy (see http://www.markelmarine.com/Products...n%20Yacht.aspx ). The Company has an excellant reputation and performed very well for owners in the recent hurricanes. Our coverage is through IMIS in Maryland.

FWIW...
__________________
"It is not so much for its beauty that the Sea makes a claim upon men's hearts, as for that subtle something, that quality of air, that emanation from the waves, that so wonderfully renews a weary spirit."
svHyLyte is offline   Reply With Quote
Old 27-05-2010, 17:28   #7
Registered User
 
RainDog's Avatar

Join Date: Jun 2009
Location: Varies
Boat: Pacific Seacraft 34 #142
Posts: 1,183
I paid $2000 last year for $74,000 hull value. This year they tried to raise it to $2400, but the same broker found me another policy for $800. My lesson from all this is it really pays to shop around. The $800 insurance is actually slightly better.

Both policies I got through Kevin Severance in League City. I would at least give the a call.
__________________
RainDog is offline   Reply With Quote
Old 27-05-2010, 22:15   #8
Registered User
 
morays's Avatar

Join Date: May 2010
Location: Houston, TX
Boat: caliber 40
Posts: 20
@Raindog

Thanks for the info I will try Kevin for sure. Can you tell me if you are a liveaboard or recreational sailor?
__________________
morays is offline   Reply With Quote
Old 28-05-2010, 07:18   #9
Registered User
 
RainDog's Avatar

Join Date: Jun 2009
Location: Varies
Boat: Pacific Seacraft 34 #142
Posts: 1,183
Liveaboard. I don't think they asked when I was applying for insurance.
__________________
RainDog is offline   Reply With Quote
Old 28-05-2010, 07:30   #10
Marine Service Provider
 
AnchorageGuy's Avatar

Join Date: Mar 2003
Location: Wherever the boat is!
Boat: Marine Trader 34DC
Posts: 4,618
morays, We lived on the boat in Clear Lake for two years and your numbers seem about right for what we paid and the fact that all of the insurance companies raised their rates for that area after Ike, which is pretty much SOP for them. We were never ask if we lived aboard in almost 20 years and the boats have always been insured.
__________________
Chesapeake Bay, ICW Hampton Roads To Key West, The Gulf Coast, The Bahamas

The Trawler Beach House
Voyages Of Sea Trek
AnchorageGuy is offline   Reply With Quote
Old 28-05-2010, 09:16   #11
Senior Cruiser
 
bstreep's Avatar

Cruisers Forum Supporter

Join Date: Oct 2007
Location: San Antonio, TX/Port Aransas, TX
Boat: 1990 Macintosh 47, "Merlin"
Posts: 2,274
We pay about $2600 for $250,000. Nationwide. We had several friends have damage or lose boats in Ike. Nationwide had checks within days - their claim experiences were excellent. We had a claim from a tornado several years ago when we were in Kemah. They handled it very well.

Our agent here in SA is VERY familiar with the process - they insure quite a few large boats on the Texas coast, through referrals, and can write your insurance: Tina Pantusa 210.402.6155
__________________
Bill Streep
San Antonio/Port Aransas, TX
bstreep is offline   Reply With Quote
Old 28-05-2010, 11:31   #12
Sponsoring Vendor

Community Sponsor

Join Date: Sep 2008
Location: Corpus Christi Marina
Boat: Perry 47 - Second Star
Posts: 30
Ditto on Nationwide!
MadSailors is offline   Reply With Quote
Old 28-05-2010, 16:38   #13
CF Adviser
 
TabbyCat's Avatar

Cruisers Forum Supporter

Join Date: Jul 2007
Location: cruising in the Pacific
Boat: MaineCat Catamaran 41'
Posts: 334
Images: 1
Send a message via Skype™ to TabbyCat
Quote:
We were never ask if we lived aboard in almost 20 years and the boats have always been insured
Almost all marine insurance policies have some language that says that it's your duty to disclose any material facts that could influence the underwriter's decision whether or not to insure your vessel, regardless of whether you are asked specifically about them or not. If you are a liveaboard and hide it, that could come back to haunt you when you file a claim. I'm not saying it definitely would, but why take the risk?
__________________
Susan
IMIS - Int'l Marine Ins Svcs
http://www.MarineInsurance.CC
TabbyCat is offline   Reply With Quote
Old 28-05-2010, 18:20   #14
Marine Service Provider
 
AnchorageGuy's Avatar

Join Date: Mar 2003
Location: Wherever the boat is!
Boat: Marine Trader 34DC
Posts: 4,618
Quote:
Originally Posted by TabbyCat View Post
Almost all marine insurance policies have some language that says that it's your duty to disclose any material facts that could influence the underwriter's decision whether or not to insure your vessel, regardless of whether you are asked specifically about them or not. If you are a liveaboard and hide it, that could come back to haunt you when you file a claim. I'm not saying it definitely would, but why take the risk?
I am not sure how a question never ask and as a result, an answer never given could be construed as "hiding something" since there are probably a thousand issues that could influence an underwriter but never get ask by anyone. But then again, we are discussing insurance companies. But what constitutes a live-aboard. It is very subjective. If I spend the summers on my boat and the winters in a house, am I a live-aboard? If I take my boat on a once a year cruise and live ashore for the next 2 years, I am a live-aboard? If I use my boat for a months vacation every year do I contact the insurance company and declare myself as a live-aboard for a month or risk having a claim denied? We are full time cruisers for a year or two at a time and then return and work as we do now to build the cruising kitty. We insure our boat for all of these situations and never attempt to "hide" anything from anyone. I would think many on this board fall into that same catagory. Full disclosure by this definition would require a biography to comply under those circumstances. Some insurance companies make it a point to ask if one lives aboard or they do not. And there is nothing that I have seen over the years in any of our policies, although they have pretty much been written for very large navigational areas, that say we will have a claim denied or excluded due to living on the boat.
__________________
Chesapeake Bay, ICW Hampton Roads To Key West, The Gulf Coast, The Bahamas

The Trawler Beach House
Voyages Of Sea Trek
AnchorageGuy is offline   Reply With Quote
Old 28-05-2010, 18:24   #15
Registered User

Join Date: Apr 2009
Location: Fort Pierce, FL. Texas Roots
Boat: 82 Present, 13 ft dinghy
Posts: 492
Seems to me being a live aboard for insurance purposes would be a plus. You are there every day to look after the investment. Just curious, why more for a live aboard?
__________________

__________________
'Da Mule
Mule is offline   Reply With Quote
Reply

Tags
gulf coast, insurance, price

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hello from Mobile Bay / Gulf Coast coastwatcher Meets & Greets 5 10-06-2009 21:08
Gulf Coast Cruising Query Mike Sibley Atlantic & the Caribbean 3 17-02-2009 20:37
Hello! New guy in the gulf coast here merc4now Meets & Greets 11 12-12-2008 07:48
DIY Yard on TX Gulf Coast markpj23 General Sailing Forum 2 15-01-2006 08:06
Greetings and Salutations from the Gulf Coast mario f Meets & Greets 7 03-01-2006 16:20



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 13:05.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.