Insurance Questions:

[GWICK]

I'm in the process of getting Insurance quotes on a 2010 450 Sundancer being kept in Sarasota. ( I'm thinking Marina Jacks)
I have received quotes from NBOA (Catlin Insurance), Mariners Odyssey, and Osprey Special Risks Limited. The quotes are 4,800, 5,600, 6,300 with similar limits. I had a few questions:

1) Do these quotes seem reasonable?

2) Does anyone have experience with any of these carriers - good or bad?

3) NBOA is requiring a Haul out contract. The other 2 just want a plan to move the boat inland. I assume that is why NBOA is cheaper. Does anyone have a recommendation on someone who would haul a boat of this size out in the area?

 

[mainstream]

I have nboa for my 350 da and I have to haul out by nov 1 but I live in nh if I was in fla and was going to use my boat all year I wouldn't haul it out that is why they are cheaper I guess you would need to see how you were going to use your boat but to me the numbers seem ok. Just my .02

 

[Bucit]

GWICK, I called NBOA and they were outrageous with my quote. I had/have Progressive and the agent said they work with Progressive but couldn't give me a rate anywhere near the one I had. Try calling Clif Wyatt at (727) 441-8300. He did a great job for me and was the best price and insurance I could find. I called roughly 6 places including some referrals from CSR that were in the NE and they couldn't match his rate. Tell him Perry sent you.

 

[rcknecht]

I have Progressive through USAA and pay $700 combined for both of my boats...

 

[Havana Shamrock]

Nboa(Caitlin) here and they saved me $500 per yr from a company that wasn't marine oriented, they also took great care of us during the Sandy hurricane, no questions. And yes they require us to be laid up nov,1- April,1.

 

[trit21]

The haul out contract is in case of a named storm here in FL. They require you to haul the boat so it is not sitting in the water during a named storm and NBOA wants to ensure you have a contract to save your spot for hauling out.

 

[JustUs2]

I have the same boat (2011) and my insurance is approx. 1/2 of what your quotes are. I keep the boat in Md. so maybe that accounts for a lot of the difference. Also, have to haul by Dec 1 and launch after April 1.

 

[sailorjerry]

I have Travelers with a 1% deductible. I just got my renewal and it is $1,975 for the year. I have to lay up Nov-April. Last year I took it to Florida for the winter so I added to the policy to cover me for the year. It cost me about $300. They encourage a haul out for a storm and they cover half the cost. I think the rate is fantastic.
If you want more info....just ask.

 

[bmac]

I have Catlin but not through NBOA. They've been good so far. I have the same named storm haul out requirement as they are requiring you to have. Catlin covers half the cost of the haul out. Such haul out requirement is likely Catlin's, as the insurer, NBOA only acts as a broker. The rate seems reasonable for a Florida boat, so long as it's an agreed value policy.

 

[GrandMaster]

I'm in the process of getting Insurance quotes on a 2010 450 Sundancer being kept in Sarasota. ( I'm thinking Marina Jacks)
I have received quotes from NBOA (Catlin Insurance), Mariners Odyssey, and Osprey Special Risks Limited. The quotes are 4,800, 5,600, 6,300 with similar limits. I had a few questions:

1) Do these quotes seem reasonable?

Insurance for anything in Florida in general is nuts these days so you cant really compare quotes for similar coverage to other areas of the country.

 

[Bucit]

Insurance for anything in Florida in general is nuts these days so you cant really compare quotes for similar coverage to other areas of the country.

+1 I called 6+ places this year and some were just crazy. Over $2000 for $55k agreed value. It must be we boat all year and the storms/hurricanes.

 

[wastinaweigh]

The insurance quotes are what they are - you can always get a few more but you are in Florida year round...

Your problem is the haul out. There really are not very many options close to Marina Jack's. I don't think that any of the MarineMax facilities will contract for a hurricane haul out. Snead Island in Palmetto might, but that is a ways to travel if a hurricane is bearing down on you. Definitely get this lined up before signing up for a policy that requires it.

Keep in mind, if that is a condition of your insurance and you do not haul it out, insurance may not pay your claim. Even the underwriters who will let you leave it in the water will probably require a hurricane plan. When we had the 260, NBOA required one on it. You have to follow your plan or you risk having no insurance.

 

[GrandMaster]

+1 I called 6+ places this year and some were just crazy. Over $2000 for $55k agreed value. It must be we boat all year and the storms/hurricanes.

And all of the lunatics & morons who dont have a clue of what they're doing boating along side us

 

[GWICK]

Thanks for the replies. Yes, it seems like the hurricane issue has most Insurance Companies on edge down here. I ended up going with Odyssey Thru Mariner's ( Jerry Norman) for 5,600. They just wanted a Plan from the Marina and didn't require a haul out. As JustUs2 mentioned, Still about twice what northern boats cost that get pulled out each winter.