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Old 09-02-2018, 11:21   #1
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anyone have boat insurance they like?

want to insure new to me sailboat
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Old 09-02-2018, 11:29   #2
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Re: anyone have boat insurance they like?

Not BoatUS. Had them for years, no claims no problems. After hurricanes hit FL they decided to almost triple my rates. Dropped them and am shopping for new.
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Old 09-02-2018, 11:35   #3
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Re: anyone have boat insurance they like?

After geico bought out boatus my rate went up $1500.00. I renew in April, not gonna be fun.
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Old 09-02-2018, 11:45   #4
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Re: anyone have boat insurance they like?

In a survey I ran here on CF and over at Sailnet last May most people reported that they’d either never filed a claim (~75%) or were “completely satisfied” or “mostly satisfied (~20%) with their insurance. The remaining 5% fell into the unsatisfied camp.

Here’s a link to those reports:

http://helplink.com/CLAFC/wp-content...nce-report.pdf

http://helplink.com/CLAFC/wp-content...ility-only.pdf

This survey was done last May, before Irma and the others. Might be worth doing it again.
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Old 09-02-2018, 11:47   #5
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Re: anyone have boat insurance they like?

Quote:
Originally Posted by landsend View Post
After geico bought out boatus my rate went up $1500.00. I renew in April, not gonna be fun.
Do like me and vote with your feet. I'm not going to pay what they're asking. I have a good record and take care of my boat. Why should I pay for those that don't.

I was in Green Cove Springs when Matthew hit. Out of 22 boats in the mooring field only 9 survived unscathed. Of the 13 boats that dragged, broke free or sank, only 1 or 2 had actually prepared the boats. So about 10 of 13 boats did NOT double (in my case triple) the mooring lines or strip the boat of sails, biminis, etc or do anything else to prep for the storm. So I came through but have to pay higher rates because of the lazy or indifferent.

Your profile says Miami. I guess you came through Irma OK.
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Old 09-02-2018, 11:50   #6
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Re: anyone have boat insurance they like?

We have Progressive, and unfortunately just made a claim, our first.
To start with, they were exceptionally nice, bent over backwards to get to my boat for the estimate, the adjuster was polite, on time, friendly etc.
The estimate was for more than I expected, and I had a check in my hand within a week.
I’m extremely pleased, as long as my rate doesn’t go through the roof anyway, I’m waiting to see what happens then.
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Old 09-02-2018, 12:31   #7
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Re: anyone have boat insurance they like?

We used Pantaenius for decades and never filed a claim but they refused to issue a policy to us when we were crossing the Indian Ocean. Topsail Insurance was happy to have our account and they were about a third the price of Pantaenius. We have yet to file a claim with them, however, some friends who were making the passage at about the same time we were lost their mast on their way to Rodriquez Island. Topsail had them motor to Mauritius where they sent them a new mast, rigging, sails and riggers. Our friends were delighted with the way their claim was processed. When the same boat was crossing the South Atlantic, they struck an unidentified underwater object and had to abandon ship. Topsail also covered that loss quickly.

Fair winds and calm seas.
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Old 09-02-2018, 13:39   #8
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Re: anyone have boat insurance they like?

When I made a claim on my Geico policy 2 days after I got it, they paid right up. $200/yr for $6k hull value and $300k liability seems reasonable, though I didn't shop much.
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Old 09-02-2018, 13:52   #9
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Re: anyone have boat insurance they like?

This guy Hugo was our broker for our latest policy. Can't say enough good things about him.

Hugo Hanham-Gross


Hanham Insurance Agency
Yachts - Boats - Marine
+1 843 410 2990
Hugo@hanhaminsurance.com
www.hanhaminsurance.com
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Old 09-02-2018, 13:52   #10
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Re: anyone have boat insurance they like?

Skipmac: Docked in Key largo, we dodged a bullet with Irma. Storm surge lifted my boat above the dock but we secured with double and triple lines where needed. Never had a claim.
You are right about all of us pay for the indifferent. We actually tied down others boats so they wouldn't crash into ours. I will start shopping for quotes.
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Old 09-02-2018, 14:03   #11
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Re: anyone have boat insurance they like?

We have IMIS@Gowrie ! Used to be straight IMIS ! It costs us $980 for yr. for 50k hull/boat value 37 Gulfstar ! No claims ! Been here 14 yrs.
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Old 09-02-2018, 21:48   #12
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Re: anyone have boat insurance they like?

Quote:
Originally Posted by fgraham View Post
want to insure new to me sailboat
I would not characterize my insurance as something I "like." It is OK, it is a necessary evil because marinas etc expect it, and it will probably pay out in the event of a loss.

My boat insurance is through State Farm and I'm paying $275 a year for liability and $10,000 on the hull. They cover U.S. and Canadian waters out to (I think) 25 miles from shore, plus a rectangle that includes southern Florida and the Bahamas. That's enough for us, for now, and by the time we're ready to venture beyond that we'll have a boating history that will allow us to negotiate with more specialized carriers.
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Old 10-02-2018, 05:50   #13
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Re: anyone have boat insurance they like?

Cant say I like insurance either. Over the years Ive had good service from a number of brokers, but never a claim...I suspect I might like it even less if I had that experience.
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Old 10-02-2018, 08:11   #14
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Re: anyone have boat insurance they like?

Quote:
Originally Posted by belizesailor View Post
Cant say I like insurance either. Over the years Ive had good service from a number of brokers, but never a claim...I suspect I might like it even less if I had that experience.
Yes … in my survey data, most people never make a claim. This agrees with the fact that boating, especially with a cruising-type vessel, is very safe.

But when we consider only those respondents who have made claims, we see that about one in five people are dissatisfied with their insurance.
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Old 10-02-2018, 08:37   #15
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Re: anyone have boat insurance they like?

I feel Im really stupid. But honestly I could not find any better insurance when I shopped. Im paying 4,000 a year for a 135,000 agreed value, on a 1985 boat, All East Coast + Caribbean, but need to be out of the box during Hurricane season (the box does not include most of Florida I might add, there seems to be different versions of what's considered the box).

I feel I have been duped. But then again ... I couldn't find anything better. Now Im selling this boat, so next time around, next boat, I hope to keep outside the US, flagged in Europe, I might be able to get better rates?

Oh well ...
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