Boat US to Geico Marine

[EmeraldCoastSailor]

I recall another thread about insurance that covered this subject a bit but for me this is new news and I would like to see what others are experiencing. My BoatUS insurance (will make it 9 years with them) is renewing and Geico Marine will be my new provider, which is fine by me as I am getting decent $ reduction and Geico has at least a decent brand as far as I know.

Does anyone have any opinions/experience on this development? I haven't read fine print yet but my clean records seems to be giving me a vanishing deductible which is bueno!

[SFS]

I only carry liability, and haven't had a claim in the 15 months I have owned the boat, but my premium went from about $360/yr to $75/yr. So I was happy.

Here is a two-page thread on the topic:
Anybody have problems with BoatsUS Marine Insurance? | SailboatOwners.com Forums

[Boatguy30]

Wonder if that liability is still covering salvage for $75? BoatUS paid out a bunch removing boats after Mathew.

I know of one boat the cost was about 18k for the crane work and that was on a liability only policy.

[mbhouston]

We are going with Boat US/Geico Marine for our new-to-us sailboat. They had three levels, "premiere", "value", and liability only. As far as I could tell, the biggest difference between premiere and value is that premiere is an "agreed value" policy and value is an "actual cash value" policy. Also, premier would cover replacement value for partial salvage claims while value would only pay depreciated value. That's ok for us, my 30 year old sailboat won't depreciate much and the 10 year old electronics aren't worth a whole lot anyways. If it were loaded down with $40k in cruising gear, that would be a different story. Premiere was almost double the price of value and liability was only $75.

I only have claim experience with Geico auto insurance and it was another motorist who hit my car. So his insurance covered it and they were great to work with, ended up replacing the bumper when the paint wouldn't adhere properly on the existing one. We ended up with Geico auto insurance after Progressive progressively jacked up our rates every 6 months despite no at-fault claims or tickets. I can only hope their marine division is as good to work with.

I do have a cruising grounds clause that doesn't cover extended cruising outside of the gulf coast (I forget the exact limitations), also higher deductibles for named storms.


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