Insurance Issues

I would suggest Chubb. I checked quite a few after getting dropped by Progressive a few years ago, and they were the best one for us.
 
Blueone said:
We just got dropped today. We have been with NBOA for 30 years so I know they will figure it out....the last two underwriters each lasted 2 years.... Never a claim and we pay $800/yr if we stay in the great lakes
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Freemont Insurance would be worth checking out too. I'm a round $1k on the Great Lakes including my dink on the policy...

https://www.fmic.com/
 
Stee6043 said:
+1. We should all have umbrella policies. I learned from a slip neighbor (who had direct experience) that a boat fire with fuel spill can/will quickly exceed the yacht policy limits.
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I have an umbrella - $3m that costs around $350/yr. It provides liability above the standard amounts on my car, home and boat policy. But here is the thing - State Farm has my home, cars and the umbrella, Progressive has the boat. State Farm will apply the umbrella coverage to the boat, but they want a copy of the boat policy declarations. I don't think they would cover the boat liability without a basic policy on the boat.
 
BillK2632 said:
I have an umbrella - $3m that costs around $350/yr. It provides liability above the standard amounts on my car, home and boat policy. But here is the thing - State Farm has my home, cars and the umbrella, Progressive has the boat. State Farm will apply the umbrella coverage to the boat, but they want a copy of the boat policy declarations. I don't think they would cover the boat liability without a basic policy on the boat.
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Regarding Progressive. Do you have a dinghy? When I was shopping insurance, they said my zodiac had to be covered as a separate boat. It’s 8’ with a 2.6 motor. Geico includes a dinghy with policy. It made no sense so I called Progressive the next day and got a different person who said same thing.
I have had Progressive on cars many years and they been great but this dinghy thing makes no sense.
So I went with GEICO.
 
Pirate Lady said:
Regarding Progressive. Do you have a dinghy? When I was shopping insurance, they said my zodiac had to be covered as a separate boat. It’s 8’ with a 2.6 motor. Geico includes a dinghy with policy. It made no sense so I called Progressive the next day and got a different person who said same thing.
I have had Progressive on cars many years and they been great but this dinghy thing makes no sense.
So I went with GEICO.
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No dingy, this is my 185. Progressive works fine and like I said I have an umbrella with State Farm. If I had a bigger boat on a bigger body of water I am sure it would be different.
 
sbw1 said:
you can buy liability insurance and an umbrella coverage for liabilities. Way more economical way to go than wasting money on insuring a small boat at a premium that is more than the boat is worth. If your premium is more than 10% per year of the boat’s value, it probably makes sense to drop insurance on the hull and place the savings into a savings account to pay for repairs caused by accidents. Most people don’t ever file claims on their boats, because they don’t have accidents. This approach does require the discipline to fund the potential loss. Umbrella policies for liability are cheap. You can buy $3 million for $390 if you have a basic general liability policy which could be through your homeowner policy or a liability only boat policy. Worth looking at if you own an old boat.
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Every company I have had an umbrella policy with required the boat, car and homeowner's policies to have a certain level of underlying liability limit for each. Even in business I have never had an umbrella that covered a potential liability that didn't have it's own underlying policy. YMMV.
 
We just went through a very disturbing issue with our marine/ resort that we have been a member of for 6 years. The marine sold to a midsized corporation who upped our normal liability insurance coverage from $500K to $1mil 4 days after they required our full season lease payment. Really pissed 3/4 of the members off. Seems most if not all insurance providers in my region don't issue more than $500k on boats plus you will need a survey. I found the way around all this by gaining a $1mil umbrella policy through USAA bundle and Progressive boat. Now I have $1.5mil liability coverage and I can bring my boat into my slip.
 
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