Insurance Revisited

RussP · Post by **RussP** » Jul 5th, '07, 11:54

We just got a quote for insurance for our 63 31SF and I would like to see how it compares to what some of you guys are paying. Pete recently surveyed it and it has a average condition rating.

$60,000 coverage is $2981.00 with a 8% deductiable ($4800.)
This also includes $10,000 of personal equipment, $300,000 PI, $5,000 Medical payment, $25,000 unisured boater,

Thanks,
RussP

BlueChip · Post by **BlueChip** » Jul 5th, '07, 11:59

I would be interested to see how different boating areas would effect the price....

Chris

RussP · Post by **RussP** » Jul 5th, '07, 12:05

This is a good point we are in the hurricane belt down here.

RussP

BlueChip · Post by **BlueChip** » Jul 5th, '07, 12:26

I bet alot of insurance agencys have increase their rates due to Katrina from FL to Maine and the atlantic to Pacific..... EVERYONE is in the path of some natural disaster......

AndreF · Post by **AndreF** » Jul 5th, '07, 12:42

Russ, This ought to be interesting.
I pay $2513 for $120,000 ACV limit w/$150.00 deductible, $1,000,000 liability, $5000 prop on board, $5000 med pay, $15,000 Uninsured boaters, 100 mile navigation limit.
Thru Encompass Insurance in combination w/home and autos.
Credits apply for;
Radar, diesel, USCG course, depth finder, VHF, LORAN

BlueChip · Post by **BlueChip** » Jul 5th, '07, 12:52

I love how you get a discount for having a Depth Finder and a VHF...

I just find that ammusing...

CMP · Post by **CMP** » Jul 5th, '07, 13:25

"But Sweetheart, I get a BIG insurance credit if I buy that $5k Northstar radar/chartplotter AND another one for that Simrad 10" color bottom machine. No lie, look at the contract!!!"...

CMP :-D

BlueChip · Post by **BlueChip** » Jul 5th, '07, 13:55

i would image 99.9% of people owning a boat carry at least a handheld VHF (i would hope)

Carl · Post by **Carl** » Jul 5th, '07, 14:15

You would be supprised at what people do not carry.

Buddy went out fishing on a guys boat, they decided to grab a bite to eat at a dock and dine. One problem...guy did not have any rope on board to tie up with, the wind up was he tied up with an extension cord. Yeah, he had an anchor mounted to the deck with no rope.

Charlie J · Post by **Charlie J** » Jul 5th, '07, 14:39

sounds like the brooklyn guys

Kevin · Post by **Kevin** » Jul 5th, '07, 15:03

on the 1980 Hyena I have it insured for 68,000. My deductable is 2,720. I have 1,000,000 liability each occurence. medical is 2,000 per person and personal effects is 2000. I have 300,000 for uninsured boaters coverage. I pay 1,400 per year but get a dividend of about 250 dollars back every spring. So all in all I pay 1,150. I have not provided survey for insurance company. Just gave them reciepts for motors and some photos of the boat. Once interior is done I will have it surveyed. The company is Amica. Not too bad I guess considering location.

Bruce · Post by **Bruce** » Jul 5th, '07, 19:37

Andre,
You probably aren't paying an agent's fee in your premium since your in the biz are you?

Tony Meola · Post by **Tony Meola** » Jul 5th, '07, 20:09

Kevin

I am suprised Amica will insure you in Florida. They have my house and cars up here in NJ, but they do not want any part of a house at the beach unless they have your main house. I know they are great at settling up for house and car loss'e, but I don't know of anyone that ever filed a boat claim with them. Cheapest I have found for my house and cars. Tony Meola

AndreF · Post by **AndreF** » Jul 5th, '07, 23:44

Bruce, the comission is so small it really doesn't matter but the price I said does includes comission like everybody else's price. Insurance agents don't have large profit margins like lawyers, boat repair people, mortgage brokers and glass installation contractors.

Rawleigh · Post by **Rawleigh** » Jul 6th, '07, 00:33

Andre, you ought to get in the title insurance biz then!! The agents here are getting up to 70% of the premium!!

Doug Crowther · Post by **Doug Crowther** » Jul 6th, '07, 22:53

where did that come from Andre ?

bertram31.com

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