Progressive Insurance

[LostAtSea2011]

Progressive gave me a quote of $2700 for a 1984 $30k boat... I checked around and found better coverage for $1200 a year... Even BoatUS was way cheaper than Progressive.

[cabo_sailor]

Originally Posted by wunderluster

I called Progressive and was told I do not need a survey, this is on a 28 year old boat, unless I am trying to insure it for more than the value. The value is what I'm paying for it. So, if I want to insure it for more than I paid then I would have to get a survey that would put the higher value on the boat.

The rate I was quoted or a 30K boat was about $3200 full coverage. I asked for higher deductibles and got it down to $2300. Liability only is just $227 per year. I will be getting the liability only for now. When I'm ready to go cruising I will probably get full coverage.

I am single and I have motorcycle coverage with Progressive, no claims.

That seems very high. I'm in Florida and have $140K coverage for $3200 per year.. I also have motorcycle insurance with them and no claims. Oh, I almost forgot... this is a 1989 boat.

Rich

[READY2GO]

I don't know how Progressive is with marine insurance, but I had a motorcyule accident a few years ago. The guy that pulled out in front of me had Progessive. They paid for my bike without any problem (about $5K). But the $35K of medical was a different story. They kept saying they were going to pay, but kept draging it out. I started getting colection notices. I called my health insurance and told them about it. They said turn it in to us we will take care of the bills and get our money from Progressive. They did, I never got another notice. Getting paid from Progressive for lost work was another huge hassel. I will never buy any coverage from progressive.

[unbusted67]

Originally Posted by jaasun71

Progressive gave me a quote of $2700 for a 1984 $30k boat... I checked around and found better coverage for $1200 a year... Even BoatUS was way cheaper than Progressive.

Did you have a boat that was damaged?

[LostAtSea2011]

I had the same thing happen. I was quoted some insane amount by Progressive...went with BoatUS for about half the price. Never had a claim, 30 years experience , and a good survey.

[sarafina]

Progressive on both holes in the water...

We carry liability only and there was no survey.

[sailcruiser]

I have them as a sub contract to the company that carries my homeowners/cars. I am not in a hurricane zone. They didn't request a survey but it is available. My first boat valued at 8k was $250 or so a year. We are out of the water from Oct-May. I added an inflatable and it went up $30 then down $50 the following year. I did have one weather claim where we got into the dock with 50kt winds and a seiche. They were out and appraised and paid promptly. My rates were not increased and this turned into a 50% value of the boat claim. It was classified not at fault.

New boat a lot higher value and it's 620ish including the inflatable. I have no complaints really. I plan to shop around before renewal for peace of mind but I think it's reasonable. This is agreed value,300k liability, fuel cleanup and $1k for personal belongings and a $500 deductible comp/collision as they call it.

Credit, residence, prior claims on ANY insurance and of course location affect rates. I may get a better rate because of the third party connection but I don't really know. SC

[unbusted67]

The title of this thread should have been "live aboard insurance without survey." Because that's really what I am after. Does anyone know where I can find that because Progressive expressly prohibits live aboard.

[Celestialsailor]

I guess my first question is 1) Do you need insurance for the purpose of being in a Marina? If so, they want Liability only. Most Marina's require you have $300,000 in Liability. That costs a few hundred a year. It just protects the marina if your boat does damage to their docks or other boats.

[hellosailor]

Be careful with Progressive and make sure to read the fine print in the contract with whoever you go with. Look for exclusions about pre-existing conditions, limits of value, etc.

Couple of years ago I spoke to Progressive while looking for an "agreed value" policy for a collectible car. Collectible being a sore point, some insurers will only class Detroit products as collectible, others require "show and display" use only with a second car on the road as a daily driver...everyone has a catch.

Progressive? The nice rep finally confessed, their 'agreed value' policy, which is sold on the basis of a mutually agreed calue for the vehicle, would actually read "agreed value or market value, whichever is less..." and open up the whole can of worms as to what the value would be. Which defeats the entire point of agreed value coverage, especially since you have PAID based on that value.

Also beware, if you pay $5000 and put two hundred hours and another $5000 worth of material into the boat...it will still be worth only $5000 until everything is done and another survey and reinsurance happens. There's a big coverage gap where all your labor is worthless until proven otherwise.

[cabo_sailor]

Upon reflection, I too have had a less than fortunate experience with Progressive although my boat is still insured with them. Both my wife and I have motorcycles. She has gone through motorcycle safety school and advanced rider school. Her bike is a Suzuki 650 that we paid around $2500 for. I never had the basic school but have taken the advanced rider school. My bike is a Yamaha V-star 1100 that cost me around $10K. Neither of us have had any claims and yet they raised her insurance until it was roughly 4 times the premium that I was paying. I'm talking around $800/year, absurd. We asked for an explanation and were told "that's the way it is". We told them, we were cancelling the policy.

A very strange company, I hope I never have a claim with them.

Rich

[emsmith]

Many people are having doubt on this because of what happen to Kaitlynn Fisher. Progressive Insurance is likely lamenting a recent shift to keep away from paying out on the legal claim a male filed after his sister passed away a traffic accident. The male took to the social media, producing an online backlash against the business.

[Jimbo485]

Originally Posted by unbusted67

.... and I can't have the boat uninsured while I wait to get the problem fixed.

Why not?

We never insure our boats. We just accept the responsibility, take greater care and pour the money into anchors or other more useful items.

Far away from the marinas and continental coasts, it seems that about 50% of the yachties are insured.