Over 30 Foot Insurance Companies

[Latitude9.5]

We have been lightly tossing around the idea of getting a bigger boat... around 40 foot and I have been shopping insurance providers. We currently have progressive, which only insures boats under 30. I have found this to be the case with several insurance co's.

Boat US wants a mere 6,000 to insure a 40 foot boat in Florida, so just wondering if any Florida owners have a similar policy with their insurance co and could recommend them.

Thanks!

[Pblais]

You need to define your scope of coverage as far as where you want to be and when. I have a great policy with Allstate but it's void past 90 miles offshore with no possible extension. FL is just getting harder because too many companies what to lay off FL risk. It's sort of a moving target from I have seen.

Boat US also has age restrictions - the boat not you

[captjohn360]

offshore risk management insures annywhere any size ....jt

[mike d.]

check out imis(international marine insurance services.) advertised in the rags. my agent there is jim muller. my orig. ins. co. thru nat marine underwriters got cancelled as above no longer accepts (over) 30 and my age fg boat. got imis thru ssca members. real good rates etc. not affiliated just like their product. also cut rate for more distance by $100.00. go figure!!!!!!

[Latitude9.5]

Yup that's my agent now as well! Good service and rates.

[AnchorageGuy]

Based on my personal experience with Offshore Risk Management I can not recommend that you use their services but can highly recommend IMIS.

I cn't offer you advice on Florida insurance, but only some general advice. Find a broker, preferably one who comes well recommended, who deals in many companies. If you find a good honest broker, you only need to deal with one, they will do all the shopping for you, and find comapnies you would never find on your own, including some who ONLY deal through brokers.

Bill

[easterly]

State Farm will only insure to $500000, $1000000 with an exception. You might have to move the boat during the hurricane season, like up the Alabama river.

[gonesail]

from my research I found BOAT US had the best prices.

[jean1146]

If I remenber right,Boat US will not cover you outside US waters.
JC.

[David M]

Doing a search of Latitude 38 online will bring up articles about peoples horror stories with yacht insurance companies. Doing this may help weed out the bad guys. It seems all too often that you are "in good hands" when you are paying your premium and not when you need to collect. Therefore, I would not base my decision solely on price.

[CharlieCobra]

Another thing is getting insurance for an older over 30' boat. Talk about a PITA.

[scallywag]

Latitude9.5,
Okay, It's Friday night and party night but here it goes. Scallywag is behind my house on a canal in S. Augustine, Fl. Boat U.S. insures my 1976 36' Allied Princess for over $2,700 a year. Previously, it was insured for the same amount for $750 a year. The company that insured the S/V said they dropped all coverage on boats over 25 ft. I know the insurance companies were hit because of the hurricanes but that is their business. To pay out claims when nessary. For years the companies collected premiums but did not pay out claims. They are a bunch of rip off artists that are federally sanctioned. The rich do not have insurance and the middle class pay for the coverage. When my boat is completely paid off, I will drop the insurance company. I feel at their current rates they will have paid for my S/V in less than ten years. Any claim I will make will not impact them at all. Just take a look at how the Residents of Claifornia have been impacted by the ins. co. High rates and the owners are left without a house and still have a mortgage payment. They have the license to steal.

John

[easterly]

State Farm insures my 1976 36' for $440 a year.

[scallywag]

Easterly,

Five years ago, State Farm quoted me around $1200. They dropped me when they realized I am closer that 1/2 mile to the ocean. River sailing and lake sailing sure have their benefits.

John