Insurance

Xplicitlnck

Xplicitlnck

Well-Known Member
Jan 2, 2012
4,030
Long island ny
Boat Info
330ec
Engines
Twin 7.4 straight drive
So about a year ago my previous insurance company left the marine world so I had to get a new company. I searched around and the best deal I could get with the same exact coverage as my previous company was progressive. But my premium was just about double. (I figure the old company left marine because they were losing money with there low premiums) this is on my current 98 330ec. When I switched they didn't want any surveys or anything. In guessing because I bought the policy while I was still insured by another. So I just got curiouse and did two online quotes for a 400 dancer. Soon entering collision coverage the online page told me I can only get liability coverage because the est vague of boat was over 1xxxxx and the age was over 20 years. Why is that? An I going to have a hard time getting full coverage and an agreed soon value? Does anybody care to share what there premiums are for the same vintage 400 450?.
 
I have 150k agreed value on our 2002 410DA with State Farm. Replacement “yacht policy” coverage. No issue getting coverage, runs me about $1,400/yr on the Great Lakes
 
Strecker25 said:
I have 150k agreed value on our 2002 410DA with State Farm. Replacement “yacht policy” coverage. No issue getting coverage, runs me about $1,400/yr on the Great Lakes
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If you don't mind me asking your age? That's a great number
 
I would check with NBOA. My rate is half of what others was. Got the tip on this forum.
 
Now here's the next question. What's the best way to get a real quote without dishing out your ss # and having all those inquiries on your credit report?
 
Xplicitlnck said:
If you don't mind me asking your age? That's a great number
Click to expand...

33. I have some other stuff with them that might help a bit but it’s probably our boating season being so damn short that keeps the rate low. We’re on stands from October-April at least
 
Strecker25 said:
33. I have some other stuff with them that might help a bit but it’s probably our boating season being so damn short that keeps the rate low. We’re on stands from October-April at least
Click to expand...
Im 33 myself... I've had one claim in the last 4 years but the numbers there asking seem high.
 
But what scares me even more then a high payment is not being able to get coverage. Why won't they even offer anything but liability? I'm gunna call today and see what there response is
 
Give this company , American Modern a call, my broker got me a policy with them on my 98 -450 think I am at $1,700 for the year full coverage.
 
I use Gallagher Charter Lakes and up until this year had an awesome policy...then it was discontinued.

The key differences between the old and replacement policy are:

-New policy does not have a disappearing deductible
-New policy has a layup period
-New policy has Navigational limits
-No guaranteed repair
-Electronics deductible increased from $250 to $500
-Tender deductible increased from $250 to $500
-Named storm prep coverage decreased from $1000 to $500

My agent shopped around and said this was the best they could so I stuck with it for now. The premium stayed the same for a lesser policy.

$300k agreed value for $1330 a year.
 
Last edited:
Xplicitlnck said:
Im 33 myself... I've had one claim in the last 4 years but the numbers there asking seem high.
Click to expand...

oh btw, $1,000 deductible for ours. Looks like other folks go a bit higher, I may ask my broker how much raising the deductible would impact the premium
 
Just got insurance for my new boat. $625k agreed value, 1% deductible. About $3000 annually through New Hampshire. Some other quotes were similar, some about $4000. NBOA was a bit less, but less coverage.
 
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