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Old 30-03-2019, 09:31   #1
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Looking for US Boat Insurance recommendations

Hi all
We’re looking at buying a sailboat to cruise from the Chesapeake to points south.
Wondering who you all recommend for Hull / liability insurance for a modest cruising boat (42’ sloop, roughly valued at $90k USD).
Thanks for any advice on the good, bad and ugly
Brent
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Old 30-03-2019, 11:56   #2
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Re: Looking for US Boat Insurance recommendations

Suggest you call IMIS for a starting point. They may offer more than you want, but they can also tell you if you are missing anything--like wreck removal and environmental coverage. Your rates (from anyone) will also very much depend on the waters you intend to cruise, and there will be requirements about where and how the boat is kept during hurricane season, so compare those points carefully.
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Old 30-03-2019, 12:25   #3
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Re: Looking for US Boat Insurance recommendations

Insured thru Frontline division of Farmers. Good coverage at a good price for S Fl.
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Old 30-03-2019, 12:28   #4
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Re: Looking for US Boat Insurance recommendations

Casey Heer, Casey Insurance Group, Plantation FL
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Old 31-03-2019, 09:23   #5
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Re: Looking for US Boat Insurance recommendations

HANHAM INSURANCE AGENCY
Yachts, Boats, Marine

Hugo Hanham-Gross
T: +1 843 410 2990
E: hugo@hanhaminsurance.com
W: www.hanhaminsurance.com

Super helpful, easy to contact. Looks for the best deal for your budget, boat and cruising area.
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Old 31-03-2019, 09:25   #6
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Re: Looking for US Boat Insurance recommendations

Quote:
Originally Posted by brenthandy77 View Post
Hi all
We’re looking at buying a sailboat to cruise from the Chesapeake to points south.
Wondering who you all recommend for Hull / liability insurance for a modest cruising boat (42’ sloop, roughly valued at $90k USD).
Thanks for any advice on the good, bad and ugly
Brent
BoatU.S. all the way.

~ ~ _/) ~ ~ MJH
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Old 31-03-2019, 09:50   #7
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Re: Looking for US Boat Insurance recommendations

I've requested quotes from Boat U.S. several times over the years. Their quotes have always been unrealistically high. AllState has provided good claims service (I've had several) and, in general, the premiums they've offered have been quite competitive.
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Old 31-03-2019, 10:12   #8
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Re: Looking for US Boat Insurance recommendations

Progressive Marine Insurance (well priced and good coverage for FL)
Russell Jamieson, VP
26 Oleander St, Cocoa, FL 32922
Office: (321) 459-9905
www.GoAtlassInsurance.com
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Old 31-03-2019, 10:55   #9
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Re: Looking for US Boat Insurance recommendations

Does anybody have an approximate cost for insurance?


40 foot boat, Florida, 100K of value, local cruising.


Liability and comprehensive.


I'm just looking for an approximate range for planning purposes.
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Old 31-03-2019, 11:18   #10
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Looking for US Boat Insurance recommendations

Quote:
Originally Posted by letsgetsailing3 View Post
Does anybody have an approximate cost for insurance?


40 foot boat, Florida, 100K of value, local cruising.


Liability and comprehensive.


I'm just looking for an approximate range for planning purposes.


About 1 to 1.5 % of hull value is a decent number, depending of course on where you’ll be in hurricane season, your boating experience and size of deductibles etc.
That is why it’s hard to compare Insurence costs between different people.

The odd thing I to me was I increased the insured value of our boat by about 50% after our refit, required a survey justifying it of course, but our cost of Insurence went up very little.
Logic would have said it would increase by 50% I would think.

Then after buying a new, expensive dinghy I wanted it insured too, asked how much more it would cost, was told they didn’t expect any increase in cost?
Sure enough after the discount of multiple boats, total Insurence bill actually decreased a little.

It seems that sometimes logic doesn’t apply, you have to ask, can’t assume.
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Old 31-03-2019, 12:47   #11
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Re: Looking for US Boat Insurance recommendations

Quote:
Originally Posted by letsgetsailing3 View Post
Does anybody have an approximate cost for insurance?


40 foot boat, Florida, 100K of value, local cruising.


Liability and comprehensive.


I'm just looking for an approximate range for planning purposes.
I just bought a boat and it was more like 2 to 3% of boat value for insurance. 2% if I was above the 35 parallel 3% if below it.
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Old 31-03-2019, 13:29   #12
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Re: Looking for US Boat Insurance recommendations

Quote:
Originally Posted by a64pilot View Post
The odd thing to me was I increased the insured value of our boat by about 50% after our refit, required a survey justifying it of course, but our cost of Insurence went up very little. Logic would have said it would increase by 50% I would think.
The most expensive potential insurance loses have little to do with the value of your boat (though they are somewhat related to its size) - injury to others, damage to other boats/docks/property, oil spills, wreck removal, etc.
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Old 31-03-2019, 13:48   #13
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Re: Looking for US Boat Insurance recommendations

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Originally Posted by Dooglas View Post
The most expensive potential insurance loses have little to do with the value of your boat (though they are somewhat related to its size) - injury to others, damage to other boats/docks/property, oil spills, wreck removal, etc.


That makes sense.
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Old 31-03-2019, 14:00   #14
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Re: Looking for US Boat Insurance recommendations

I highly recommend Progressive. When a tornado did $18K worth of damage on my catamaran, Progressive covered it with no problems; to the contrary, the Progressive agent was unbelievably concerned for us, and very helpful.
If you're a USAA member, they are 'partnered' with Progressive, and the savings are pretty good.
Also, they don't have 'zones'; for some companies, getting coverage for multiple-zones (e.g. Mid-Atlantic, Florida, Gulf) adds to the expense.
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Old 31-03-2019, 14:46   #15
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Re: Looking for US Boat Insurance recommendations

Allstate works for me. Premium is reasonable, and they didn't want much paperwork, but I haven't had any claims.
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