insurance costs

[rossny]

Hi, we are paying over $2,000 a year for a $100,000 boat, without name storm covered in Florida. What do you pay? What ins. co. and broker do you use?

[SVRapture40]

I am paying less than $1000/year on $250,000 through Chubb in Washington state. No "named storms" coverage and I can go from Alaska to Mexico and spend up to 6 months/year in Mexico. From what I am hearing, I am getting a pretty good deal.

[ShaktiGurl]

We pay just under 4k for a 300k boat in South Florida. There is named storm coverage but the deductible is much higher at $15k per storm. Otherwise deductible is 6k. Covers East coast, Gulf, Bahamas down to T&C. Hull & Company in Dania is the broker. We are shopping now.

[Dockhead]

Wow, insurance has gotten expensive over there. I pay only 850 pounds a year (a little over $100 US a month) for $5 million of liability, and nearly a million of comprehensive coverage of the boat, dinghy, contents, plus legal expenses coverage. Cruising area all of Atlantic Europe, no restrictions on single handing or distance from shore. Boat not kept in a marina. I do have 20 years of accumulated no claims bonus. Company is Towergate.

[goboatingnow]

380 quid for comprehensive cover, to east of Italy, further 40 quid to cover further east , value of boat 140 K , 5million personal liability.

Dave

[skipmac]

Originally Posted by Dockhead

Wow, insurance has gotten expensive over there. I pay only 850 pounds a year (a little over $100 US a month) for $5 million of liability, and nearly a million of comprehensive coverage of the boat, dinghy, contents, plus legal expenses coverage. Cruising area all of Atlantic Europe, no restrictions on single handing or distance from shore. Boat not kept in a marina. I do have 20 years of accumulated no claims bonus. Company is Towergate.

No coverage for the Med? Any idea what that would add to the cost?

[Cheechako]

Originally Posted by rossny

Hi, we are paying over $2,000 a year for a $100,000 boat, without name storm covered in Florida. What do you pay? What ins. co. and broker do you use?

Have you tried getting a quote from your car insurance provider as a pleasure craft? If not heading offshore, Ive found them super reasonable compared with boat insurance places.