considerations of buying new and used boat
AIS and Radar - There isn't a "better" solution - different systems, different advantages
Detection and methods - How to Curing leaking keel bolts
The 10 considerations before buying a sailboat (Expert Advice)
Boat Care Solutions - Dolphinite Care & Repair Products
When & How Tips - Boating and Sailing Tips
Safety Equipment Services: Liferaft servicing and cost
Boat Insurance Issues
Boat Articles, Guides, Commentary and archival articles & helpful information,care of gear and sails
The three biggest issues facing boating right now
So how much are you paying for boat insurance now.
Check out Information on Boat Insurance Quotes (Excel Table)
Insurance is first because it's getting to be a real problem. Boat insurance has doubled, tripled or quadrupled, depending on who you talk to. Policies are being written for northern boaters that exclude coverage in Florida waters.
Absentee boat owners, who leave their vessels here during the summer while they go up north are almost uninsurable. There are three primary underwriters still writing policies for bigger, 40-plus feet boats and two or three companies writing smaller boats. Progressive, Boat US and State Farm , some carriers are starting to write boat polices without windstorm insurance and some are writing polices with 25-percent deductables.
Video Guide to Boat Insurance
Check out this Boat insurance Guide video tip on what ?? can do for you.
Florida Boat Insurance
Consequently, there are offshore companies appearing on the scene
writing insurance in Florida. An offshore Company , on the water
'Citizens' but will
they pay - Offshore companies are unregulated.
It's still an issue. Small boats with big engines could become a special risk. The boating industry has long looked at 50 mph as the dividing line in small boats, today there are flats boats on Charlotte Harbor that will go 80 mph.
We all are seeing bigger depreciation, calculated with higher deductables on theft and limited amounts of liability, by insurance agent info.
Boat Insurance is easier to come by on commercial vessels because the carriers figure those vessels are belter taken care of and are operated by licensed captains.
Insurance and the noise issues
Along with the insurance issue is the boating noise issue.
The gauge manufacturer, is now showing a line of exhaust restrictors for offshore powerboats. Stainless steel exhaust extensions with manually controllable butterfly-baffles.
The boat and Outboards manufacturers are all building bigger and bigger motors.
Yamaha introduced a V8 F350 4-valve/cylinder, double overhead cam V-8 ...outboard - it looks like the motor in my Toyota or Mazda!
Mercury brought its Six-Cylinder 300 Verado, Suzuki had its 300 4-stroke and Evinrude also has more HP. Bigger, theoretically more reliable, single motors for bigger boats.
Boat Insurance, Survey & inspection
A finance and insurance survey
A finance and insurance survey
This inspection is performed to provide your insurer or lender with the surveyor's opinion as to the fair market value of the boat. This allows them to determine whether or not the vessel is an acceptable lending or insurance risk. The insurance company and the bank will be particularly interested in structural integrity of the boat, whether itís safe for its intended use, and whether it meets all federal and state regulations. A finance and insurance survey also gives you a good working figure of your boat's value.
A corrosion survey
This is a survey performed to assess the extent of protection afforded to your thru-hulls and underwater machinery against electrolysis. A corrosion survey can track down the source of stray current corrosion, whether itís your boat, a nearby boat or shorepower, so that the source can be eliminated. It will also assess any damage caused to the metal fittings of your boat or the hull of steel or aluminum vessels due to electrolytic action.
But why do I need a survey
Many banks and insurers require a professional survey before they will lend money or insure a boat. They want to get an accurate estimate of the boatís condition, equipment, seaworthiness and value, especially when a customer is buying a used boat. Check with your bank or insurance company to find out what type of survey they require and whether they insist on a haulout and sea trial as a part of the process.
Even if your bank or insurance company doesn't require you to have a survey when purchasing a boat, having a professional inspect your prospective boat will assure you of its condition and value.
To get insurance
There are major differences between boat policies and yacht policies, with many different types of coverage such like Small Boat Insurance, Yacht Insurance or Classic Boat Insurance.
marine insurance coverages are:
- All-risk physical damage
- Agreed value on total loss
- Oil/fuel cleanup or disposal
- Emergency expense reimbursement
- Personal effects
- Tender or dinghy
- Medical payments
For more information see ACE Private Risk Services
A major consideration is liability insurance. If your vessel is lost in accident, you are only out of pocket for the value or cost of the boat and also its boat equipment, marine electronics, fishing equipment etc. if you are uninsured. If you damage another boat, someone is injured or landside property, you may find yourself responsible for many amount of dollars more than the real value of the boat.
Insurance companies that specialize in home and auto coverage are rarely equipped to handle the unique types of coverages and claims involved in boating. Their claims adjusters may not know a pulpit from a propeller, much less how much they cost and how to get yours repaired quickly and properly by a qualified repair facility.
Most marine insurance agents and companies have experience with maritime law and an established network of surveyors, adjustors and certified repair pros that will aid you in getting back on the water fast after a claim.
Insuring a boat
The best boat insurance providers - Ski Safe
How much are you paying for boat insurance per year? I’m buying a 2016 230 this weekend and they require me to get insurance before leaving their lot. I got quoted at $1300 a year from State Farm. Too steep?
At first, make sure you get an agreed value policy as well. Covers you for what you have in it instead of the book value. It costs a little more, but it seems most people finance these long term and you don't want to end upside down if something happens to it.
If you need get insurance ASAP read :
Ski Safe, they’re very easy to work with and excellent service.
" I found an insurance and went with Ski Safe, originally quoted at $530/yr and thanks to one guy that I should mention about planet Nautique.com, quote went down to $460 on same coverage as $530".
Ski Safe give a planetnautique.com discount. Also don't forget to review policy on lay up or storage periods. A buddy of mine had a storage period on his policy and didn't realize it. Went boating in November and had an accident. He had to buy a guy a new bass boat out of pocket.
Note: Watch the ski safe policies, notorious for turning the policy into an ACV policy in its 3rd year, and they offer exclude wind in hurricane prone areas. Read the small print on your policy.
Premium wise Insurance
Most carriers insurance score. It’s a soft hit on your credit but it pays to shop. There are a lot of carriers out there. I’ve quoted a risk where 1 carrier is $250 and another $900. Depends on the overall risk but it definitely pays to shop. Get Agreed value coverage too. Since you’re in CT I would recommend getting coverage with hurricane haul out reimbursement assistance.
They’ll share the expense with you should you haul because a named or numbered storm is heading in your direction. Markets don’t take that as a negative claim because you were being pro-active in the care of your vessel.
Many marina berthage contracts give the marina owners the right to alter the way their tenants' boats are docked if they sense danger.
The fine print of the contract you signed may contain language that protects the marina and its employees against liability. You may wish to read, or have your lawyer read, the entirety of your marina agreement. You may have signed a contract with a clause that the marina is "held harmless" in the event that one of their employees makes an error in judgment. This would alter your position substantially.
There are good docks and bad docks, rarely any that are neutral. Where the boaters have good relations with the marina management and each other are joyful places to live; the others can make life miserable.
Marinas can be like schools of fish: where there's one that's careless about your business, there are usually more just around the corner that would love to have you as a dockmate. We always found that if one doesn't suit us, the next one is usually better. When a poor marina loses a lot of customers, one of two things always happens: it either simply gets worse and worse over time or it gets new management.
You can purchaseBoat Insurance that Protects Your Boat and Family at competitive rates through Allstate (boat-insurance). Getting and purchasing your insurance is quick and easy.
If you prefer to find a local insurance agent and brokers, use IRMI find and Insuance Agent directory to locate one near you.
Recreational Marine Insurance
In Fact, from ACE underwriters and customer service staff each ACE member is a marine/boat specialist.
Thanks to ACE dedicated expertise allows this Insurance Company to offer boat owners most comprehensive packages of the industry, services and ACR's unique insurance products that will meet all needs of each large or small boat owner.
ACE Customer Resource Center
For their marine insurance coverage. to help boat owners or customers make the best choice ACE Recreational Marine provides many valuable resources.
ACE (Customer Resource Center) offers today Worldview® online boat insurance program management platform.
It's inovative one-stop online program electronic management system for complex needs. Thanks to A.C.E. platform help boat owners to manage their programs more efficiently and better. Through one centralized portal this new platform provides a big number of core helpfull functions: premium and loss billing portal, claims management, a new multinational research tool including online account servicing with easy collaboration with your A.C.E. insurance team.
The ACR Policy and its special endorsements are designed exclusively for all types and full range of Insurance packeges for boats and vessels include:
Small Boat Insurance package
Through authorized independent insurance brokers and agents Acr offers the highest level in the industry of small boat (less than 27 ft ) insurance offered at competitive rates.
Along with many unique features and benefits the ACR "Yachtsman" Policy offers unparalleled all-risk protection, cost-saving and enhanced insurance for a wide range of 27 feet or greater yachts. No matter corporate or personal large boats and yachts.
Charter ACR Insurance
The "Charter" Policy provides highly tailored and comprehensive exclusive packages for private pleasure purposes and chartered yachts.
Luxury Yacht Insurance
The Mega Yacht Program Policy provide the highest level of exclusive program for luxory yachts valued at $5 000 000. Yacht Program insurance cover Agreed Value,Liability Protection,Oil Pollution Act of 1990,Medical Payments, Marine Environmental Damages, Fishing Equipment and Personal Property Coverage, Towing & Assistance and much more.
ACE provide affordable coverage for Watercrafts of various types, models, length or speed, throughout the US. To satisfy most personal Watercraft umbrella policies liability boat owners limits are available. In add Property Damage, Medical Payments, Trailer or Uninsured Boater Coverage.
Insurance for Classic Boat
Designed by marine insurance professionals and experienced classic boat owners the Classic Coverage A.C.R. Program offers insurance plans for wooden and classic boats, include fiberglass or aluminum construction boat.
To suit Performance boat unique needs Performance Insurance Program by ACR is focused to meet the all needs of high-performance/fast boat owners.
For people whose boats have speed capabilities of 65 mph or faster.
To learn more about the total amount and type of boat insurances packeges visit www.acegroup.com.
A little video lesson on carrying good insurance.
The insurance cost for our boat is low, so if the boat explodes before we sell it we haven't lost everything. I think we'd reconsider if we were going to be out for longer.
Experiences in Mexico during Hurricane Marty (2003), If you have liability only.
When we would have had to head towards a hurricane to get to a marina specified by insurance. We opted to stay in a good hurricane hole (we understood that this meant our insurance wouldn't cover us but we felt it the more prudent move), and had no damage.
Marina had sigificant damage. Lots of boats all over with damage and most had insurance claims rejected. We decided to save our money and put it into upgrading our ground tackle. That said, every year we wonder if we should get full coverage but we keep opting for liability and making our own decisions.
If you should get coverage
How many boats have you found that aren't insured? Is it worth it? Outside of a named storm, wouldn't repairs be generally reasonable outside of a catastrophe.
It's a very personal choice when deciding if you should get coverage. Things do happen, and like Capt R. says, if it's gonna happen, it's gonna happen out there.
Actually quite a few of the cruisers we met do not carry insurance. I would say that most do, that we've met down here, but that's without taking a real poll.
You never know what might happen, that's what the insurance is for. You could just as likely have a catastrophe caused by another boat than you could minor damage caused by yourself. You have to factor in the age of your boat and the value of your boat. You also need to consider your cruising plans... Do you plan on ever staying in a marina or getting hauled out?
Most places require insurance for those things. Start with the article below named "What Boat Insurance Companies Don’t Want You To Know" - Commuter Cruiser toward the beginning of my article to give you some more questions to ask yourself before deciding.
Is the cost of boat ins. about the length of the boat like other cost or more about the value of the boat. And then the liveaboard or not liveaboard status of the owner. People say they pay around $1,000 per yr for insurance as liveaboard boaters in coastal waters (not world travelers) like you but people in marinas.
Will be surprised to see someone with a 40' trawler in a marina paying the same for ins. as a person on a 32' sailboat in a marina. Both are full time liveaboards. Most people would have thought that the smaller boat would pay less?
Definitely more about the value of the boat provided in your survey, not the length, though they are usually related. Some Boat onsurance companies charge a lot for liveaboard status, but some don't charge anything extra at all.
It's really important to ask the difference in the rates and get all the specifics so you can make an informed decision.
A lot to think about for when renewal time comes around
How much are you paying for insurance now.
Check out Boat Insurance Quotes (Excel Table)
A spreadsheet with all the numbers. Final premium ended up being $1900 with no additional fees, and it lists the limits that are covered.
Recommendations for marine insurance
You should compare what is in the policy to make sure you have the coverage you are looking for as this is usually the biggest issue (people not being covered for what they thought).
No matter what you do make sure you get a yacht policy. That means you set an agreed value on your boat on which your premium is based. It will actually cover you, should you have to make a claim. There is more than that, it is not real easy to compare apples to apples in marine insurance because they vary so widely in coverage or non coverage. Guessing claims will mainly depend on the agent just as with any company. This is why it is important to have a knowledgeable agent and one you can trust.
What ever you do make sure it is a reputable company, , it could save you a lot of trouble when you might need it.
BoatUS & Geico Marine
Both BoatUS and Geico Marine (formerly Seaworthy) and have great customer service from both. In fact Boat US is Geico. Perhaps that is why they are comparable, while the coverage is slightly better, the price could not come close to the insurance we get from Catlin through NBOA.
BoatUS treats their customers right in the time of a major catastrophic event (I cannot say the same for many of the non marine specialized insurance companies). Now for the good news, BoatUS and Geico Marine (this is different than Geico automotive) are basically the same. Geico Marine underwrites BoatUS policies and the same people handle both companies claims.
BoatUS won't cover things that are scheduled maintenance related unless you have that specific type of coverage.
They offering a mechanical breakdown type of coverage for things like couplers, bellows, propeller shaft, etc. I would imagine that your situation may fall under that. There's a 30 day waiting period for coverage to begin from sign up but it still is a good extra line item to have.
Boat US Marine Insurance - reviews from real customers
NBOA is the least expensive of all. Outstanding service and they were prompt. Fuel and jump start available. They will also remove debris from outboard props if needed as well. Their iPhone app was the method you can to contact the captain and they were quick.
Wakezone boat insurance
Wakezone is the best insurance for performance boat insurance. progressive, state farm and home owners which is erie wouldnt even insure my boat because of the super charger.
Actually progressive would $2400 a year and they wanted $2400 for a $35000 boat.
Boat insurance - a premier boat tow package
a new program called Sign and Glide
Progressive has a new program called Sign and Glide that will cover either Sea Tow or Boat US whichever is closer to you at the time.
Before you paid upfront $350 and they will reimburse up to that amount. With the new program sign and glide its totally different, you call Progressive and depending where are you they send either one, no pay upfront Progressive will pay them directly.
They also have to cover the propulsion unit on a i/o board or outboard. It does not include the jet boats for the propulsion plus. However Alex Silva you do pay a yearly fee of $50 for the Sign and Glide program and another $50 for the propulsion plus coverage and let me add any breakdown on the unit is covered even if you don't maintain the unit or if you hit bottom and breaks while at top speed. A$500 ded and they will fix or replace the unit.
Companies for marine insurance for boats over 35'
Read your policy carefully, most carriers will depreciate on partial losses on CERTAIN items at certain ages. Canvas, sails, upholstery, outboards etc. Labor is never depreciated.Total loses are paid on agreed value, if that is the coverage you chose.
International Marine Insurance Services
NBOA National Boat Owners Association
NBOA (which is underwritten by AIG) gives very good discounts for members of the SeaRay owners club.
United marine underwriters
Boat US, being in the business, and seeing how they responded to super storm Sandy, I switched the next year! They were unbelievable and very competitive in price.
Just so you know, GEICO took over Boat/US Insurance in 2015, after Sandy. Rates are good and hope I never need to use their services. Boat USA has been the lowest for boys insured over 350k. In Fact you get what you pay for. If you have a boat over 10 years old, don't go with them, depreciation is horrible.
Pilothouse Marine Services
If the boat is over 20 geico is probably not the best place for it.
Well worth the money! No depreciation, and true replacement cost coverage.
use a Insurance Broker
Interestingly enough, this year here in Florida, Progressive came in cheaper, by almost $200 annually on my 2016 270 SDX. That is why boaters use a Insurance Broker instead of going to a specific company.