I'm rejected. NEED Insurance

[Hudson Force]

The last time I was paying for hull coverage, before I shifted to liability only due to the unfavorable rates; I believe I was covered by New Hampshire Group through BoatUS. I assured my acceptance with a photo showing the well-cared for condition of my boat with my Son in the photo holding the front page of a current USA Today newspaper. Some might ask for a recent survey.

[Gripfast]

Geico canceled me because I was buying thru an agent. Contacted them directly and they wouldn't insure for near what I wanted for hull value.
Progressive did, and I bought it, but I haven't heard anything good about Progressive.

[A la carte]

Don’t know much about their reputation but, skisafe.com has been affordable and easy to work with for my 30 year old cutter.

[MicHughV]

I'm going to go out on a limb here.....

For a 40 year old boat, why bother with "insurance"

I could start a rant on boat insurance and all insurance for that matter...this world has become a slave to " insurance"....everything and anything seems to need or require " insurance.

I sailed for 15 years without a lick of insurance and just dealt with issues as they arose.
Never had an issue I couldn't handle. Do the math, monthly premiums x 12 months a year, plus deductibles, etc, etc....instead of paying for insurance, use that money to take care of issues as they arise...if they even arise. Take care of your boat maintenance, etc.

Most boat insurances are worthless. They restrict where you could go. They usually have big deductibles, they cost an arm and a leg, etc,etc. Even marina's require liability insurance.

Ok, rant over. Iffen it were me I'd shop for some liability insurance and let it go at that.

[boatman61]

Should this not read...
"I'm dejected. NEED Insurance.."

[fdr14127]

I received my GEICO renewal this week and in reading the fine print, they do not insure a American documented vessel in a yard in Canada. On the lower Niagara there is only one yard the Niagara on the Lake SC. Rest are moorings. It is fenced with random on site security patrol and 400 ft from the US, and US Coast Guard Station. With their policy restrictions and reputation I think they are doing me a favor.

So far I haven't found an agency that will even quote me a policy.

[sailcrazy]

Following. Our 1989 Taswell (33 yrs young) has been insured by Blue Water Ins, Jupiter, Fla, for the past 7 years......even though we sail in the Caribb and ride out hurricanes on the hard in Puerto Del Rey, Fajardo, Puerto Rico. The insurance is not cheap, but we carry full hull, liability, medical, etc. They did require a survey when we first insured with them, then an in-water survey a few years ago, and now they have requested an insurance survey for our next renewal. But even after the double hurricanes in 2017 in Puerto Rico (we only lost the windex!) our policy was renewed.

[fdr14127]

Originally Posted by MicHughV

I'm going to go out on a limb here.....

For a 40 year old boat, why bother with "insurance"

I could start a rant on boat insurance and all insurance for that matter...this world has become a slave to " insurance"....everything and anything seems to need or require " insurance.

I sailed for 15 years without a lick of insurance and just dealt with issues as they arose.
Never had an issue I couldn't handle. Do the math, monthly premiums x 12 months a year, plus deductibles, etc, etc....instead of paying for insurance, use that money to take care of issues as they arise...if they even arise. Take care of your boat maintenance, etc.

Most boat insurances are worthless. They restrict where you could go. They usually have big deductibles, they cost an arm and a leg, etc,etc. Even marina's require liability insurance.

Ok, rant over. Iffen it were me I'd shop for some liability insurance and let it go at that.

Well most yards and clubs require liability insurance. So tell me who you deal with.

[waterman46]

Been all through this myself, with 1983 Morgan. Nobody will insure for hull value for a reasonable price. I don't understand it, since at the rates they charge, one would have to incur total loss every 15 years or so. How many of us do that?

Get liability insurance, it is fairly cheap, 500K or 1M$, If you have a land home, get an umbrella policy that includes your boat for liability - that will be a cheap add-on. Liability, the more the better, is all most marinas want to see. For the boat value itself, realize that your chances of a total loss are just very low, and you'll accept a total loss if that is what fate, and neglect, may bring you.

[Tom and Maje]

Try Jackline in Annapolis.

Maje

[fdr14127]

Another rejection and some really bad advice. We need to organize a CO-OP much like the farmers have done. Or find a hungry broker somewhere.



"Hi Doug,

Thank you for your interest in marine insurance with us! I hope you and family are well, safe and healthy. Unfortunately after further review we would not have any available markets to insure your vessel at this time. Have you tried Geico Marine? Based on the primary location of the vessel being in Canada we are very lmited to carriers at would approve underwriting guidelines.

Please let me know if you have any questions or concerns. Thanks again and I apologize we could not help you at this time!


All the best,
Bobby


Bobby Tambascio
Marine & Personal Insurance Specialist
Gowrie Group | Risk Strategies
p: 860.399.2836 | c: 203.275.6779 | f: 860.399.3696
bobby@gowrie.com
70 Essex Rd, Westbrook, CT 06498
gowrie.com

[Sand crab]

Originally Posted by fdr14127

Well most yards and clubs require liability insurance. So tell me who you deal with.

Exactly, my marina required it as does every single one in Washington State. Where does MicHugh sail and/or is he saying he just has liability insurance (now)?

[billdre]

I haven't seen anyone mention Amica Insurance of Lincoln, RI. Insured my '79 O'Day. As a Rhode Island company they are very atuned to boaters.

[Lake-Effect]

Originally Posted by fdr14127

Another rejection ...

If you keep your boat in Canada, try a Canadian agency?

These folks insure our boat. I switched to them after butting heads with another agency who just didn't understand the marine market very well.

[Pete the Cat]

Originally Posted by Tetepare

They did you a favor. Geico sucks. Once they took over BoatUS insurance they buried a horrible depreciation in the fine print. I have no idea why anyone would insure anything with Geico.

Do a search of the forums. This topic comes up twice a week, and there are links to marine insurance companies.

I agree. GEICO sucks. They apparently promised BOAT US they would reduce premiums and they have done that by just not insuring a lot of boats. I have an old BOAT US policy which they have continued, but moved my other boats to Progressive. I am still looking for another insurer as Progressive's rates are high. I had good luck with a claim with BOAT US years ago when they were running it, but I absolutely do not trust the GEICO folks. They rejected a survey on my 1989 ERICSON--the Surveyor called them and spent an hour on the phone trying to convince them that it was a solid, well cared for boat. I have 40 years of ownership and a USCG Masters' license. I am disappointed with BOAT US. They seem to be going the way of AARP; a front for insurance companies.