Cruisers Forum
 


View Poll Results: Insurance Participation
I carry full or partial coverage no questions asked! 6 60.00%
Liability only for me... 2 20.00%
No coverage at all because bad things never happen 2 20.00%
Voters: 10. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 01-03-2021, 20:35   #1
Registered User

Join Date: Apr 2011
Posts: 33
Insurance Survey

I just received my premium renewal from Boat US, $1400. Normally I just bite the bullet and cut a check. The boat is in great shape and insured value $110K and is less than I feel its worth $150k. These values are certainly less than replacement costs would be. After I pay the deductible and swallow any other losses in a payout it makes me wonder if its worth it.

Boat was built in 1978 and i have looked for other providers, denied by all due to age. I have never filed a claim in 20yrs or ownership.

I am interested in how many of you have dropped your coverage to liability only. Required by my marina and is responsible to have in my personal opinion.

Interested in your responses.

Thanks
Chris
SV Sedna is offline   Reply With Quote
Old 01-03-2021, 21:19   #2
Registered User

Join Date: Jun 2018
Location: Seattle
Boat: Bavaria 35E
Posts: 154
Re: Insurance Survey

It would be helpful to get an idea of what boat make, its length, and where it is located. From professional experience, I can tell you that older boats will not sell easily because of both insurance and financing issues.
nightowle is offline   Reply With Quote
Old 01-03-2021, 21:32   #3
Registered User
 
grantmc's Avatar

Join Date: Jul 2013
Location: home town Wellington, NZ currently Savusavu Fiji
Boat: Reinke S10 & Raven 26
Posts: 809
Send a message via Skype™ to grantmc
Re: Insurance Survey

We call it third party but yes that's my cover.

Too expensive and restrictive for comprehensive policy, especially for older boats when insurance firms will require a periodic surveys.

By restrictive I am especially referring to cruising/storage locality.

And as well as premium increases, considerably more exclusion conditions are getting added, especially with covid issues.
__________________
Grant Mc
The cure for everything is salt water: sweat, tears or the sea.
grantmc is offline   Reply With Quote
Old 01-03-2021, 22:07   #4
Registered User
 
chrisr's Avatar

Join Date: Dec 2016
Location: Australia
Boat: Tasman 40' catamaran
Posts: 1,195
Re: Insurance Survey

we are fully insured for two reasons

firstly you cannot use any marina or boatyard in australia unless you are fully insured

secondly whilst i will not insure something i can afford to lose, but we simply cannot afford to lose our boat-home, so it's insured

cheers,
__________________
"home is where the anchor drops"...stuck at Lake Mac for a while due to medical problems...heading north soon...
maintaining social distancing !
chrisr is offline   Reply With Quote
Old 02-03-2021, 04:26   #5
Registered User
 
Sailmonkey's Avatar

Join Date: Sep 2009
Location: Houston
Boat: '76 Allied Seawind II, 32'
Posts: 8,586
Re: Insurance Survey

Liability only for us. The cost of hull insurance makes no sense on a boat the age/value of ours.
Sailmonkey is online now   Reply With Quote
Reply

Tags
insurance, survey

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Survey or not to survey Haddock1 Monohull Sailboats 48 02-12-2020 14:02
A Recent Marine Survey / Engine Survey in Fort Lauderdale of a Volvo-Penta Engine SuenosAzules Powered Boats 5 25-11-2016 07:17
No insurance, no survey - no survey, no insurance cyclepro General Sailing Forum 45 15-08-2016 06:00
Insurance Survey Charlie Dollars & Cents 3 16-01-2008 08:56
Insurance Survey Cost Ray Durkee Dollars & Cents 4 23-10-2005 06:06

Advertise Here


All times are GMT -7. The time now is 14:11.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.