Insurance recommendations

E

estoltz

Member
Jan 7, 2015
356
Northern Virginia, USA
Boat Info
2006 340 Sundancer with Generator (FOR SALE)
2005 260DA with Kohler Generator (SOLD)
Engines
Dual Mercruiser 8.1 Horizons
350 Mag MPI with BIII (free with the purchase of 2005 260DA)
Are there any recommendations or warnings on insurance companies for a 2005 260da? I've seen some threads on it but wanted to get the latest thoughts and experience. I am a usaa member but did not find progressive very customer friendly.
 
If you aren't an expert in boating insurance let me suggest that you look in some of the boating publications and find an insurance broker who deals in Yacht Insurance policies, not just boat policies. There is a huge difference between what they cover at not a huge difference in price.

With insurance you get what you pay for. If you buy cheap and need that insurance coverage for some calamity you had, you may find that it won't cover what you need it to.
 
I have nothing but good things to say about International Marine Insurance Services (usually called IMIS like the former radio personality) out of Grasonville (Kent Island) Maryland. My policy is through travelers and was significantly less than other quotes that I received with comparable coverage. I would recommend looking back for some of the Hurricane Sandy threads here to see, but as I recall, owners with Travellers policies had some of the average or better feedback during that incident. As GFC pointed out, price isn't the only factor for boat/yacht insurance...response during/after a big incident is worth something too!. IMIS has many options available other than travelers as well.

http://www.imis.pro/

I have most of my other insurance through USAA, and like you, did not have a good experience with their quote farmed out from progressive ($ 3x more). That was 2.5-3 years ago, but I haven't found a reason to shop my policy again.
 
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i heard a Geico commercial this morning for boat insurance. We have a Traveler's Yacht policy. So far so good.
 
Second the advice to work with a broker. I'm in your area and have been using a broker, Jack Martin & Associates out of Annapolis for a number of years. Much easier, IMO, than trying to deal directly with the insurance companies as they will do the shopping for you. They have facilitated shifting my coverage around a couple of times due to the insurance companies changing rates or coverages. The broker will also help in the event of a claim, at least as far as getting things started. I'm currently with Catlin Insurance and so far no problems.
 
I've had good luck with Global Marine Insurance. They are a brokerage/agency. They have proactively moved me from one carrier to another when the first decide to depart the recreational boating market. They also counseled me on how to handle a claim when our boat was broken into last season. I originally found them through the Boston sea ray dealer.

Henry


Sent from my iPad using Tapatalk HD
 
Henry Boyd said:
I've had good luck with Global Marine Insurance. They are a brokerage/agency. They have proactively moved me from one carrier to another when the first decide to depart the recreational boating market.
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Great company! My experience has been the same so far. http://www.globalmarineinsurance.com/

Top notch advice here so far.

Be sure NOT to fall in the trap of "oh it's easy to just have my home and auto agent do it, the cost is similar". Keep it separate from your home and work transportation. A boat is a claim waiting to happen, don't associate your home and transportation with your hobby.

MM
 
Again, good advice here so far...

I had my boat insurance with State Farm (same as my auto and home) at first. Then I shopped around... NBOA is a broker as describer here. They saved me big money several years ago. Over the past couple of years, my premium started climbing (no claims), so I called them a few weeks ago to inquire about the increase. In the end, they wrote me a new policy with a newly acquired company that got me back down to a beter premium, similar to what I had in the beginning, with better coverage!

Here's knocking on wood:smt021, that I never need it!
 
I had travelers when Sandy hit and let me tell you, even with all the craziness going on with hundreds of thOusands of claims, they were quick easy to deal with and very helpful. They asked me to send them bills and receipts for things I didn't even know were covered. I had my 270 at the time and I walked away with 40 percent more then my agreed apon value after everything was all done.
 
What do you all have or consider good policy limits/coverage in these areas? Who is underwriting your policy?

Towing
Tender
P&I Liability
Pollution/Spill Liability
Medical Payments
Uninsured Boater
Personal Property
Electronic Navigation Equipment
 
Xplicitlnck said:
I had travelers when Sandy hit and let me tell you, even with all the craziness going on with hundreds of thOusands of claims, they were quick easy to deal with and very helpful. They asked me to send them bills and receipts for things I didn't even know were covered. I had my 270 at the time and I walked away with 40 percent more then my agreed apon value after everything was all done.
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Travelers may be an option offered by one of the above Marine insurance agencies.
 
NBOA is my broker via Sea Ray. They have been great to date and seem to have my interests at heart.

i have limited my cruising area to the minimum where I do 90+% of my cruising. I can get a short term rider should I decide to go outside those limits for a limited time.
 
Yeah it have a quote from NBOA and they seem reasonable. I'm going to shop it though. It know if want a solid tow package should include lose an engine out in the river. Thanks for the advice.
 
I have Progressive through USAA... They are inexpensive, but I have not had a claim, so I don't know how they are if you need them. We have a $5K deductable, with high liability. I have tow insurance, which on cost about $10 extra and is well worth the cost... My annual cost is about $700...
 
rcknecht said:
I have Progressive through USAA... They are inexpensive, but I have not had a claim, so I don't know how they are if you need them. We have a $5K deductable, with high liability. I have tow insurance, which on cost about $10 extra and is well worth the cost... My annual cost is about $700...
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I also have Progressive through USAA with $1k deductible at around $550/year.

Bennett
 
estoltz said:
Yeah it have a quote from NBOA and they seem reasonable. I'm going to shop it though. It know if want a solid tow package should include lose an engine out in the river. Thanks for the advice.
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Careful with the tow packages through insurance. Many times they make you pay out of pocket and then submit the claim for reimbursement. I, and most folks I know, get the BoatUS or SeaTow package... that way any tows or calls for service are included or a small set fee known upfront.
 
Sous said:
Careful with the tow packages through insurance. Many times they make you pay out of pocket and then submit the claim for reimbursement. I, and most folks I know, get the BoatUS or SeaTow package... that way any tows or calls for service are included or a small set fee known upfront.
Click to expand...

Good to know.
 
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