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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

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Old 01-03-2021, 20:35   #1
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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.

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Old 01-03-2021, 21:19   #2
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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.
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Old 01-03-2021, 21:32   #3
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Location: home town Wellington, NZ currently Savusavu Fiji
Boat: Reinke S10 & Raven 26
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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.
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Old 01-03-2021, 22:07   #4
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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

"home is where the anchor drops"...stuck at Lake Mac for a while due to medical problems...heading north soon...
maintaining social distancing !
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Old 02-03-2021, 04:26   #5
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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.
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insurance, survey

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