Insurance

clay · Post by **clay** » Aug 30th, '06, 15:05

I need some help finding Insurance on my boat, Allstate just said we will not insure a boat over 30 years old. Any Contacts names and numbers would help.

What kind of prices are you paying per year ?

Thanks
Clay

ahab · Post by **ahab** » Aug 30th, '06, 15:59

Try Frank Bradford Agency 1-800-281-1985
We have $110,000 coverage for about $950 per year
ahab John Kelly

clay · Post by **clay** » Aug 30th, '06, 16:41

John:

Thanks for the quick reply, unfortunatly I received this response:

We're sorry, but FRANK BRADFORD AGENCY INC does not currently offer coverage in the state of Texas.

JP Dalik · Post by **JP Dalik** » Aug 30th, '06, 17:17

Ended up being cancelled for similar reasons by Nat'l Marine Underwriters. Am going with boat USeless (thanks to someone on this board for that) Insured for $175,000 @ $1100.00 per annum. Second vessel on policy. Pending a survey of course figure another 400 clams.

Insurance guys....they all suck as far as I'm concerned, there's not a 30 year old part on the boat but all they look at are hull numbers and its the big scroogie for all of us. Let's hope the ethanol issues don't scare the bastards.

That's my rant.... Take care

IRGuy · Post by **IRGuy** » Aug 30th, '06, 17:20

You might try Charter Lakes.. I don't have an address in your part of the world, but they insured me (1983 Bertram 33) recently with no hassle other than asking for a recent survey.

chris walter · Post by **chris walter** » Aug 30th, '06, 21:39

For the last three years my insurance has run a little over $3000.00 for full coverage with high limits. My renewal, for this past July jumped to a liitle over $7000.00 with an overall value of $75,000.00. I declined. Boat US quoted $3000.00 with a value limit of $50,000.00. Can't find simple liability coverage because the boat stays in the water. I'm not surprised, my homeowners policy is to jump 60 to 80 percent next spring. Agents all apologize and send me on my way. The price of living in Palm Beach County. Good Luck, Chris
p.s. Bruce, if your out there, don't forget about me. call me. 313-8080

TailhookTom · Post by **TailhookTom** » Aug 31st, '06, 10:20

Chris:

Do you have personal liability coverage as well? The reason I ask is my carrier, Liberty Mutual, insures my house, car and boat. I took out a million dollar personal liability policy with them and my premiums overall dropped by over $500 -- and the personal liability policy is only $246.

Tom

CMP · Post by **CMP** » Aug 31st, '06, 10:41

Have any of you tried Acadia? I've had excellent service and fair rates on my '67 20 CC...

CMP

chris walter · Post by **chris walter** » Aug 31st, '06, 11:04

Tom, The price for the liability piece of my insurance has always been minimal. Insurance companies I have been contacting will not issue a
" liability only" coverage, it's all or nothing. And for some like my home owners company(state farm) they are not writing any policies at all for boats that are in the water all the time, haulouts do not count. When I take the 5 to 10 percent deductable plus 3 or 4 grand for a policy plus a grand for a haulout/survey I would have to have a total loss to have it make sense. It scares me, alot. I just went through Ernesto plus 3 hurricanes in the last two years. Not a scratch, but alot of preparation.
Insurance agent told me I would be smart to pay $7000.00 for my existing policy, in ten years I would have as much invested in a policy as I do in the boat. Can't do it. It's all about where you live. Chris
To CMP- Do you have a contact at Acadia that you could share with me.

CMP · Post by **CMP** » Aug 31st, '06, 14:36

I pay $915 for a $45,000 agreed value contract with an endorsement to sell rider with Acadia through a local agent in Exeter...

CMP

chris walter · Post by **chris walter** » Aug 31st, '06, 14:57

Where is Exeter, what state? Chris
Thankyou for your response.

CMP · Post by **CMP** » Aug 31st, '06, 15:40

Sorry about that, I'm in NH and the boat is on the Cape. I suspect in FL, hte numbers won't be as good, but they may be worth a try...

CMP

clay · Post by **clay** » Aug 31st, '06, 17:04

Here is the latest and greatest on my hunt for insurance for my 1975 31 FBC: (I need it to move my new boat to its new marina sOOOOn)

Here is what I was looking for:

Agreed Value $40,000
Liability $300,000
Uninsured $150,000

Here are the annual quotes so far:

Allstate: $1,176.00 - must be 1976 model or newer(thinking of changing modle year on application oops the 5 and 6 are so close together).

United Marine : $1,714.43 - must be surveyed out of water last 90 days

US Boat : $2,786.00 - must be surveyed out of water in last 90 days

Acadia: limited to northeast only

Haggerty: Clasic boat insurance is available and very cheap if you live on a lake in North Dakota and keep your boat in storage for 11 months per year. No insurance is available to any vessels that could get near the Gulf Of Mexico, Atlantic or Pacific.

I have three more requests for quotes out there. Dam Katrina and the News frenzy that has followed, the insurance guys are just like the Oil guys any nightly news coverage gives them a chance to increase the price. Ever hear the Chicken Little Story?

I am still looking for insurance in the state of Texas if you have any more leads I will be on it.

Thanks
Clay

Tony Meola · Post by **Tony Meola** » Aug 31st, '06, 20:34

Clay
I have a 75 FBC and I have Boat US. They insure mine at the same levels you are looking for and I just renewed with them 3 weeks ago for $990. Granted I have been with them for while. I have tried to get them to increase the hull coverage but they refuse to go any higher. I am in NJ and that may make some differance in pricing. Tony Meola

Al C · Post by **Al C** » Aug 31st, '06, 21:02

My boat is a 1973 Bahia Mar and I'm insured with State Farm. I don't have my policy handy but the basics are $1500 a year and agreed value of $45000.

ahab · Post by **ahab** » Sep 4th, '06, 06:31

also got quotes from nationwide fairly reasonable

Doug Crowther · Post by **Doug Crowther** » Sep 8th, '06, 08:19

I'm on the Chesapeake and have an agrred value of 95K for a 77 fbc. recently rewired with diesels (yes had it surveyed).
I pay $1180 with Boats US but I am limited to the entrances to the Chesapeake Ie...if I go offshore I need a rider which runs $40 for two weeks. The rider reads that I can go anywhere from Jupiter Fla to Nova Scotia. Not sure how/why they pull those two locations out of a hat or what ? Insurance rates here jumped $200+ a year after Isabelle. If you are in Fla and don't pull your boat I understand why the bookie's odds aren't so good. I pulled my boat's for the hurricane and called my insurer and told them. I got a "prefered customer letter" after the storm and a reduced rate increase (they wanted to raise me $380 that next year).

clay · Post by **clay** » Sep 15th, '06, 09:21

Thank you all for the insight into insurance, to conclude this topic I will tell the truth the whole truth and nothing but the truth:

I had a long discussion with my Allstate agent of 20 years and we came to an agreement that after having paid over $126,000.00 for home, auto, boat, umbrella liability and a host of other insurances over the past 20 years with "no claims" that an exception to the 30 year old rule could be made.

PROUD CUT is now insured as follows with Allstate:

Replacement value $40,000
Liability $300,000
Uninsured Boater $150,000
Equipment $10,000
Deductible $1000 per incident

Restricted to Gulf of Mexico Coastal waters not to exceed 200 miles.

Total annual cost: $758.02

Replacement Value increases will be at $100 per $10,000 after refit and new survey.

Clay

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