Insurance Advice

[windmill]

Can anyone advise me as to a marine insurance provider that gets it. I am in a tough spot. Last year I had an engine fire that got out of control. A near total, probably should have been. State Farm agreed to pay the claim but cancled the policy within 30 days. The boat has been in the shop for eight months and I was unable to insure her when she was undergoing repairs. Now nobody wants to touch her, standard excusses...no prior coverage, to fast, prior claim, my speeding tickets....any ideas.

[Forrest]

Progressive is the only carrier that would insure my Donzis for anywhere near a reasonable rate. Even though I had everything else insured with State Farm, they wouldn't touch a powerboat (at least here in Florida) more than eight years old. The age thing, though varies, holds true for most other carriers as well.

[CnV & Family]

Progressive.

I, too, have all my policies with a single entity and they still couldn't get me a lower rate on our Donzi.

-C

[Bad-Tat]

Boat-US has been reasonable on the 16. Under $300. The 22 is a tad more but still not too bad.

[Ranman]

National Marine Underwriters

Website: http://www.nmu.com/default-ie.asp

$320 / yr
They know its a Donzi, has 300hp and runs 65+.

$100K Liability
$25000 on the boat
$2500 on the trailer
$100 Emergency Tow (whoopee!)

They insured me no problems with tickets etc. I would seriously consider checking them out.

I actually met a woman in the insurance field while at a class my company sent me to and she agreed that NMU has the best boat insurance around.

[Doug G]

I've got mine insured with Frankenmuth. $325 or so a year. Also my homeowners, which may help the rate.

Good luck

Doug

[boldts]

Thanks Randy. Looking at NMU for the new 22. I'll see what they come back with.

[CnV & Family]

Ranman,

Thanks for that link... I'll have to check them out too.

-C

[Ranman]

Scott & C,

Glad you found the link helpful. Be sure to post your quoted rates. Randy

[CnV & Family]

Ranman,

The online quote came up $300 flat... better than Progressive I might add. I'm definitely going to contact them.

Thanks again!
-C

[Dr. Dan]

Ditto on the Ranman, Liz and I are with National also... wink ...Doc

[Forrest]

I just went to their website and applied for a quote on the Magnum. Thanks!

[CnV & Family]

Per Bill's post, i've just completed an online quote for BoatsUS too... Thanks for the info Bill.

I'll post the results once they respond.

-C

[clayman]

Why did my quote come up at $586 yr,$100k lia, for a $15,000 boat, and $1000 trailer?? I have no points or accidents.? I guess I need to call them.

[boldts]

Just got the NMU for our new 22.

Yacht & equip. at $40,000

$400 deductable - $100,000 Liability = $348
$800 deductable - $100,000 Liability = $322

$400 deductable - $300,000 Liability = $394
$800 deductable - $300,000 Liability = $366

I've never turned in a claim and I can't remember what the 18 is even set at, but what do you all recommend for the Liability amount. The higher the Liability, of course the higher the cost. Also, the more deductable the less the cost. Thanks in advance! :confused:

[Hotspare]

boldts,, Taking your driving reacord into account as you stated, along with the potential for disastrous consequences, as mentioned above. I'd opt for maxing out both the D/L, at that rate. Chances are, you'll never need it, but got it all if "ya do",so go out, and enjoy that new 22 !!!!!!!!!!!!! Later, Bruce..... can't wait fot the new AOTH shirt's.........

[PaulO]

What are you guys lying about the speed/horsepower? Here is my response from NMU:

Thank you for your inquiry. Unfortunately, this boat exceeds our
underwriting guidelines for horsepower and speed.

Thank you,

Brian Sommers

PaulO

[Ranman]

PaunO, I just got my statement from NMU yesterday. It states right on the policy: 1997 Donzi Classic, 18 feet, 300hp, top speed 68mph. Again my premium is $320/yr.

[PaulO]

I actually stated speed as 75mph (a bit conservative) but 300 HP and 21 feet!
Maybe somewhere between 68 and 75 hits their limit.
PaulO

[PaulO]

Okay you guys are all lying. Progressive just told me no policies for boats over 70mph.
PaulO

[KMLFAMILY]

I am still searching myself. So far my broker searched 3 days. His best result $ 950.00 and $ 220.00 survey because boat is older than 10 yrs. My search so far BOAT INS. won"t take any boat older than 10 yrs. BOAT US. $ 856.00 Boat value at 15,000 trl. 2,500 liabilty 100,000 Medical 1,000 Deductible $500. NMU $584.00 possible boat survey required also. Next SKI SAFE. Boat value @$13,000 trl. 2,500 liabilty 300,000 medical 10,000 uninsured 50,000 deductible 1,300 annual is $584.00 no survey required.

[KMLFAMILY]

Progressive not offered in my area. Perfect driving record, No past claims.

[CnV & Family]

Hey Guys...

Just got an email from BoatsUS...

TOTAL ANNUAL PREMIUM : $257.00
BOAT U.S. MEMBERSHIP (Required if not a Member) : $14.00
TOTAL ANNUAL COST : $271.00

-C

[CnV & Family]

PaulO - I only have a 16' that only runs 50 something...

-C

[Stix Magill]

Insurance can vary from state to state. No one is lying. I am with State Farm on about a dozen policies, business and personal. For $15000.00 coverage (boat and trailer), I am paying $423.00 per year with a $500.00 deductible and $100,000.00. Mine is a 20' Minx, 270hp, they never asked the speed (60mph). Am I getting stroked?

[Rootsy]

i have my insurance with progressive... was the fastest and only one i thought and the only one who would insure it at the time i bought the boat... 390/year... 16 classic @ 55 mph with a 20K replacement value... don't remember the liability amount at this exact moment and the deductible is 500 bucks... think i need to look into boatUS insurance though...

[RickR]

I highly recommend taking the Coast Guard Aux Boating course. I've been boating most my life and still learned ALOT from those "Old Salts" plus you get a discount on your insurance (State Farm=10%

You can also get a discount if you have a automatic fire extinguishing system.

[Dvo]

Been with Nationwide coverage on all my major property for years, because they insured me at a young age on high performance bikes, boats, and cars when nobody else would touch me. They are competively priced, and good on their claims adjustment. Paying about $325 for a 97 Donzi 22 Classic, which includes a USCG boating course discount of 10%.