Insurance recommendations for new boat

[marks737]

Hello,
In the process of purchasing a 2005 390 Sundancer. Looking for input or recommendations on Insurance companies. Thanks!

 

[Handsome Transom]

I use the cooperators

 

[Banagy]

Progressive

 

[bbwhitejr]

Shop around. I just lowered mine $475/year with NBOA.

Bennett

 

[JVM225]

I shopped around and got the best price from NBOA.
That doesn’t necessarily mean that they will get everyone the best price. Premiums for different companies vary by vessel location, size, brand, type, year, etc., and experience of operator.
Check with as many places as possible. Boat US, NBOA, and local brokers who specialize in Marine Insurance are good places to start.
It pays to make multiple calls.

 

[Gofirstclass]

Give up on shopping for price only. Get a "Yacht Policy", not a "Boat Policy" and buy it from a yacht insurance broker. Ask him to explain the differences. It's worth your time to listen carefully to him. You will not be sorry if you have a problem in the future and need his help.

 

[JVM225]

Give up on shopping for price only. Get a "Yacht Policy", not a "Boat Policy" and buy it from a yacht insurance broker. Ask him to explain the differences. It's worth your time to listen carefully to him. You will not be sorry if you have a problem in the future and need his help.

Good advice that I should have included. Be very careful about putting the boat with a traditional broker or company. My State Farm broker tries to get me to switch every year. They hammer me on the Umbrella Policy because I’ve got policies with othe companies. Never going to happen.
I’ve got a yacht policy for the boat and the toys in the garage are with a specialty collector car company. All have agreed values.

 

[strange weather]

Ditto on the Yacht Policy-much more comprehensive coverage that is related to a boat like yours-will even insure your dingy at no charge-check it out-I'm insured with Chubb

 

[dwna1a]

JVM, how would I go about finding yacht or boating insurance? I am with StateFarm at this time but I do want better.

Marks, thank you for this post / question

 

[JimT]

JVM, how would I go about finding yacht or boating insurance? I am with StateFarm at this time but I do want better.

Marks, thank you for this post / question

Call NBOA.

 

[Todd320]

I have geico, but I’m going to look into NBOA after reading this thread. Thanks!

 

[JVM225]

JVM, how would I go about finding yacht or boating insurance? I am with StateFarm at this time but I do want better.

Marks, thank you for this post / question

Call NBOA and Boat US. Although both are actually just brokers, they will set you up with quotes for the proper policy with agreed value.
Also, ask around the docks for the names of independent marine insurance brokers in your area or look in local fishing magazines or newspapers. Marine insurance brokers advertise in those publications around here.
I’ve found that just because one source might be cheaper for a friend or dock neighbor in your area doesn’t necessarily mean that the same will be true for you and your boat.
Prices can vary widely from boat to boat and owner to owner.
Examples: An independent broker was cheaper for my old boat than either NBOA or Boat US.
Boat US is cheaper than NBOA for my kids 18’ Bowrider, but NBOA is cheaper than either Boat US or the local independent broker for my 410 by a lot.

 

[sbw1]

I've been told that your credit score, in addition to your claims history and driving record, has a big impact on what you pay for insurance. So, in addition to other good advice given above, pay your bills on time.

 

[Jaybeaux]

Here is an article I ran across when considering buying our 420. I believe it came from a Bayliner Forum...