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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