Insurance quotes

C

Chiefsfan

Member
Feb 21, 2019
32
Gilbertsville Ky
Boat Info
1996 370 Sundancer Raymarine C120
Engines
7.4 Mercruiser v-drives
I'm very new to this forum, and have a question about insurance. I've gotten three quotes to insure a 1996 370 Sundancer. I'm a little shocked at the yearly premiums to insure a 23yr old boat. I found an older thread here at CSR, and it gave me a couple of companies to try, and I've used 3 of them. Getting prices back around 1400yr. Does this sound about right?
 
So several questions of course, where are you keeping the boat? What are the limits on the policy? Is it in the water 365 days a year? Are you insuring for agreed upon value? But to answer your question that is over double mine. But, my boat is out of the water 5 months a year. I am on an inland waterway with no storm danger. I have a 25 year history with my company with only one claim (not my fault) in those 25 years.
 
My boat will be in the water 365 days a year, in a covered slip in Ky.

I'm going to try Global Marine. Geico, Progressive and NBOA, were almost the exact same price
 
Chiefsfan said:
My boat will be in the water 365 days a year, in a covered slip in Ky.

I'm going to try Global Marine. Geico, Progressive and NBOA, were almost the exact same price
Click to expand...
Yes I would shop around. You are going to pay more because you are going to stay in and they are going to charge you for that. Are you on a lake or river?
 
It's hard to comment on the premium quoted without more detail. I pay a lot less for a newer boat on an inland lake.
 
Mine is less than that, or about the same, don’t recall. I’m in a dry stack, in Florida, year round boating for an agreed upon value around 90k. I have insurance through Geico for 3 cars, so maybe a discount and I have great credit rating, or so my wife tells me, not sure that matters. I also had 30 years boating experience.
 
For reference I recently got quotes from Boat US, NBOA, and Global Marine. The quote was for a 34' vessel with an agreed hull value of $350,000. There were some differences in deductibles, etc. Specified was NE coastal navigation with a layup period from November-May. Included was 33 years of boating experience, 19 years of boat ownership, and passing boater education courses.

Boat US: $3400
NBOA: $1400
Global: $1500.

Boat US had the highest deductible and the lowest coverage for personal injury, etc. Coverage for fuel spill / pollution was identical. Global had significantly higher coverage for liability and and uninsured boaters and the lowest deductible.
 
I am $808 with NBOA... $250 deductible $500k liability, all inland lakes, Great lakes and St Lawrence
 
Big differences in premiums from different companies in different parts of the country.
Seems to be the same for car insurance.
I don’t think $1400 is too crazy for a boat that stays in the water 365 days a year, but I’m basing it on being in the northeast.
Best bet is to ask around locally and see what other boaters are paying for a similar valued vessel for year round in the water coverage.
 
$900 for my 320 with Boat US/Geico.
90k agreed hull value. 500k liability. Chesapeake Bay.
 
100k agreed value, 300k liability, 25k medical payments,300k uninsured boater, 10k personal property,

12 months in water, not used nov 1-march 1

604/year
CHUBB
 
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