Fun topic - boat insurance

b_arrington

Well-Known Member
GOLD Sponsor
Feb 21, 2007
3,469
Setauket, NY
Boat Info
Back Cove 37
AB Ventus 9VL
Engines
Cummins QSC 8.3 600
I'm thinking about moving up to a bigger boat. I'm pretty sure that's going to mean I'll need to move from "boat" insurance to "yacht" insurance. This is a new area for me - any recommendations on yacht insurance providers?
 
I have used BoatUS insurance for years. I've never filed a claim so I can't speak to that part of the equation, but their customer service has always been good when I had a question or needed to make a change.

I currently have my 400 Sundancer and 24' Runabout insured through them. I insure my Sea Doos through Progressive because BoatUS wasn't as competitive on those.

I shop them periodically and they are always price competitive on boats.

Their underwriting company changes periodically (currently Geico I think) but the customer service remains good.
 
I have used BoatUS insurance for years. I've never filed a claim so I can't speak to that part of the equation, but their customer service has always been good when I had a question or needed to make a change.

I currently have my 400 Sundancer and 24' Runabout insured through them. I insure my Sea Doos through Progressive because BoatUS wasn't as competitive on those.

I shop them periodically and they are always price competitive on boats.

Their underwriting company changes periodically (currently Geico I think) but the customer service remains good.
This!
 
Shop around.
Lots of variables.
What the best (priced?) company for one boat in one place may not be best for the same boat someplace else.
Two different boaters in the same place with the same boat and same experience might get different quotes from the same company too.
It also pays to shop around again every few years because things can change too.
 
We have a yacht policy with Travelers. We've had it for a few years and they've handled 3 claims for us. The first was for a runaway starter that cooked a bunch of wiring, battery chargers, etc. They paid up to the tune of $35K without question.

Next was a lightening strike they paid about $12K for new electronics.

Now we're in the middle of the 3rd claim for a blown transmission.

There has never been a question with them about covering the cost of the claims. Your insurer is only as good as the company behind the letterhead. I can't say enough good about Travelers.
 
I also recommend Global Marine. Remember they are the agent/broker, not the insurer.

Travelers is a company they represent.

MM
 
Thanks all. The boat I'm considering is in a whole different bracket of size, cost, engine type, and even location (cross country), so it's nice to have a community that can give a bit of guidance.
 
We have a yacht policy with Travelers. We've had it for a few years and they've handled 3 claims for us. The first was for a runaway starter that cooked a bunch of wiring, battery chargers, etc. They paid up to the tune of $35K without question.

Next was a lightening strike they paid about $12K for new electronics.

Now we're in the middle of the 3rd claim for a blown transmission.

There has never been a question with them about covering the cost of the claims. Your insurer is only as good as the company behind the letterhead. I can't say enough good about Travelers.

When your transmission breaks, insurance pays to repair it? How does that work?
 
The question about whether or not they're going to pay for it comes from the language in the policy that says (going from memory here) that sudden and unanticipated breakdowns that are not due to lack of maintenance or poor maintenance are covered.

Same as the runaway starter motor. Not due to faulty maintenance or lack thereof.

The question about the trans repair being covered is still open. They did some in-water testing of the trans before they pulled the boat to see what indications it showed. The boat was to be pulled yesterday so they could do more testing but I have not heard from the marina about what they found.

Either way (they pay or not) it has to be fixed. The yard can do the repair there but they have to remove the trans from the boat. It weighs about 525 pounds and has to be unbolted and slid back several feet so it can be lifted through the engine room access hatch. Not an easy task.

I have no timeline yet on the repair. I told them I would rather have it fixed correctly than quickly. While the boat is on the hard they're going to do the bottom paint, true up the shafts if needed and some other stuff.
 
The question about whether or not they're going to pay for it comes from the language in the policy that says (going from memory here) that sudden and unanticipated breakdowns that are not due to lack of maintenance or poor maintenance are covered.

Same as the runaway starter motor. Not due to faulty maintenance or lack thereof.

The question about the trans repair being covered is still open. They did some in-water testing of the trans before they pulled the boat to see what indications it showed. The boat was to be pulled yesterday so they could do more testing but I have not heard from the marina about what they found.

Either way (they pay or not) it has to be fixed. The yard can do the repair there but they have to remove the trans from the boat. It weighs about 525 pounds and has to be unbolted and slid back several feet so it can be lifted through the engine room access hatch. Not an easy task.

I have no timeline yet on the repair. I told them I would rather have it fixed correctly than quickly. While the boat is on the hard they're going to do the bottom paint, true up the shafts if needed and some other stuff.
 
We have a yacht policy with Travelers. We've had it for a few years and they've handled 3 claims for us. The first was for a runaway starter that cooked a bunch of wiring, battery chargers, etc. They paid up to the tune of $35K without question.

Next was a lightening strike they paid about $12K for new electronics.

Now we're in the middle of the 3rd claim for a blown transmission.

There has never been a question with them about covering the cost of the claims. Your insurer is only as good as the company behind the letterhead. I can't say enough good about Travelers.

Now we're in the middle of the 3rd claim for a blown transmission.

Hey Mike, what kind of policy covers mechanical breakdowns ?
 
The question about whether or not they're going to pay for it comes from the language in the policy that says (going from memory here) that sudden and unanticipated breakdowns that are not due to lack of maintenance or poor maintenance are covered.

Same as the runaway starter motor. Not due to faulty maintenance or lack thereof.

The question about the trans repair being covered is still open. They did some in-water testing of the trans before they pulled the boat to see what indications it showed. The boat was to be pulled yesterday so they could do more testing but I have not heard from the marina about what they found.

Either way (they pay or not) it has to be fixed. The yard can do the repair there but they have to remove the trans from the boat. It weighs about 525 pounds and has to be unbolted and slid back several feet so it can be lifted through the engine room access hatch. Not an easy task.

I have no timeline yet on the repair. I told them I would rather have it fixed correctly than quickly. While the boat is on the hard they're going to do the bottom paint, true up the shafts if needed and some other stuff.
What was the source of the trans oil leak?
 
Interesting issue. Hope they cover it. I'm glad I added mechanical coverage to my Chubb renewal. This sounds like the sort of claim they were intent on excluding.
 
Now we're in the middle of the 3rd claim for a blown transmission.

Hey Mike, what kind of policy covers mechanical breakdowns ?
Mark, look at my reply just above yours. That pretty much answers your question.

Woody, we're not sure yet. They were going to do some testing with the boat in the water then more after they hauled it out. It was going to be hauled yesterday, then they were going to do more testing and inspecting of the whole tranny setup. I'd bet Travelers is going to want to send a survey to look at the boat before they make a determination.
 
I lost my starboard transmission earlier this summer. Transmission oil cooler leaked and drained the transmission oil. It's a big, ugly, surprise when you first learn that your starboard engine is stuck in gear as you approach a crowded fuel dock!
 

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