Classic donzi insurance

[Ralph Savarese]

It seems that the insurance for my classic 66 18 2+3 is starting to get costly.
I am currently with National Marine Underwriters at 18 years no claims at $ 619 a year.
This seems high for a occasonally used boat !
Any ideas?
What do these people with the classic Chriscrafts do?
What are you other guys doing for insurance?
Lets get a Tread going
I wonder if we could get an insurance Co to write us as like an old Corvette or Mustang club.
Ideas would be great
Thanks
Ralph

[Sam]

$325 here for my little 16 and that's a bit high but not out of the question.

[MOP]

$334 from Progressive on my 22!! Try Progressive.com.

Phil

[mphatc]

I pay $355 for my Corsican with the same company . . . .with the boat insured for more than I paid for it, but still way below appraised value.

How do you have your boat declared?

Major items that effect your coverage are
Where the boat is stored?
How fast you have declared it is capable of going . . :wink:
How long ago have you had a marine survey done?
What is your on road driving record?

Mario L.

[Cuda]

I had sticker shock today. I called Progressive to get a quote on insurance for Debbie's 22. With an agreed value of $15k, they came with a $1809 quote! I told him he was out of his mind, that people with a lot more expensive and faster boats of the same model weren't paying that kind of money. I read some of the premiums right from this site that people were paying, and asked him why mine would be so much higher. He asked me if the other people lived in Florida. I guess they want me to pay for all the boats that got trashed the last two years in the hurricanes. I called Boats US, and they came with a $1700+ quote, so I called Progressive back and had them set me up for liability only at $101 a year.

[Ranman]

Progressive in hurricane-free Michigan on a 1997 18 Classic with $20K agreed value and $5K on the trailer dropped from ~$400 to $270 for the year. I have the disappearing deductable too (down to $500 from $1000 originally)

I don't mind it at all if Florida is subsidizing my boat insurance, 'cause the news has been telling me all winter I'm paying extra on my homeowners to make up for hurricanes that don't even come here.

[pmreed]

USAA on my '99 22 Classic in Orlando. $363/yr

Phil

[smokediver]

I have progressive and pay ..... 214 bucks a year on 15,000 boat , trailer ... On an even better note .... If you think about us floridians , who use boats YEAR ROUND , are still getting cheap boat insurance . Figure 3 maybe 4 months use up north ? multiply your premium by 3 or 4 ..... Ouch ! I better quit poppin' off , the water is officially over 80 so it's just a matter of time before we get whacked !

[need for speed]

Progressive yes but.. yesterday when i told them about a 496 HO they said it's over the 400 hp mark...
they tell me 781$ a year..1000$ ... 46k covers boat and trailer..

am i getting xxxx..?:fire:
Then they say r u over 55 years old...

so i guess maybe since i said i am 25 years old has somthing to do with this.
maybe its no so bad then..

[Just Say N20]

A thought (which is rare for me). I know the desire to save money is a strong one, especially when you feel you are being overcharged. However, it is in your long term best interest to tell the truth about your boat relative to hp, top speed, etc. IF you should have a reportable incident that results in a claim, and your insurance company discovers that there is a discrepancy between what you told them about the boat, and what is actually there, they will deny any payment.

[Rootsy]

also be aware.. that most insurance companies adjust your premium based upon your credit score... using it as some form of "risk" factor...

and yes.. be thruthful about your power, speed, etc or if something should ever happen... you'll be fighting tooth and nail to get any form of settlement...

when i was with NMU for the 16.. by telling them that the boat was kept on the trailer in the barn vs on the boat lift at the lake my premiums went down almost 200 bucks a year... got me exactly why... i don't believe the homeowners policy covers it in the event of a fire or theft...

[CHACHI]

1999 22C with Progressive $501.00/yr
1987 MINX with American Modern Home $340.00/yr
When the MINX policy expires, I can move it to Progressive and the premiun for both boats goes to $717.00 Ken

[mrfixxall]

american family ins,,, 77x18 full coverage 100,000---300,000 comp and collision net worrth of boat 12,000---285.00 per year...oo ya under water coverage too

[EricG]

1976 18 - $199/year progressive. Make sure you read your policy carefully...mine is stated value of 9k but states specifically - the lesser of Actual Cash Value or Stated Value. I asked about an agreed value policy and was told progressive will not do that on my boat. It's a risk I'm willing to take...but don't assume your covered for your "stated value".

EG

[Rich]

Ralph

I just signed up with Progressive for my '69 Seven Meter with a $15,000. value for $406.00 a year. I went through Frank Bradford Agency in Freeport. Probably could have gone direct but Frank has been in the marine insurance business for over 40 years and he gave me a quick education on insuring older boats.
They were the cheapest and required the least amount of documentation.

Some companies wanted a marine survey and receipts for all the new stuff I did regardless of level of insurance.

[Craig S]

Don't know about classic Chris Crafts, but my classic Centurys are covered by Hagerty. Very easy to deal with. They give me a discount for ACBS and Century Boat Club, btw. I am very pleased. They also do my classic car.

[RickSE]

2 years ago, USAA would not cover my boat, Progressive was $590/year, American National was $485/year. This was for $50K, 470HP and $1,000 ded.

I just checked on coverage again this month. USAA still will not cover due to HP :banghead: , Progressive is now $388/year and American National is still $485/year. I'm switching to Progressive as soon as my AN policy runs out next month.

[Cuda]

Geez! Am I the only one they are trying to bone for $1800 a year?:splat:

[Mudball]

Cuda, I just don't get that price!!!
Have you played with using different locations?
Maybe they think all boats in Florida will be soon destroyed?

We are probably almost as vulnerable here, in reality, at 150 miles from the Gulf coast, with a big one. They estimated we would have 120mph winds last year, when Rita came real close to heading this way. Thank God (for us) it changed directions at the last minute..
===
I just went to Progressive's website, and entered my boats.
Two drivers for each, and I had a speeding ticket on record for the last 36 months, which I entered.
===
#1: 1999 22ZX, 500 hp, $25k value, $1k deductible.
#2: 2003 Bayliner 18, 140 hp, $6k value, $1k deductible.

#1 quoted at $358 per year.
#2 quoted at $139 per year.
===
Note that the difference between my old 310hp motor and the new 500hp motor equalled about 20 bucks per year. That surprised me.

That's less than I'm paying now with State Farm, and they don't know I've upped the power on the 22!!

I do own both of these outright, but didn't see what having a loan might do to the cost. I wouldn't think much, if anything...
===
At $1800 per year quote, I would seriously consider paying the $100 for liability, and banking the rest and be 'self' insured. What are the chances of a total loss each year? That's the question you must answer.

Humm...
Kent

[Barry Phillips]

I'm paying $716 a year on my 2002 Classic 22 with a declared value of $40,000 and a $100 deductible through Allstate. Allstate had issues, since I store the boat at my lake house, which is not my full time residence. My 22 is the 3rd boat the policy has covered since I took it out in 1988. I’ve only had one claim on the policy in the last 18 years when I destroyed the lower part of the drive 2 years ago. The misshape occurred on a Saturday and the check was in the mail the following Saturday. I call in the claim, the adjuster called me and ask for an estimate from the boat yard and cut a check. He never looked at the boat since they did not have an appraiser in my area.

[p729lws]

Geez! Am I the only one they are trying to bone for $1800 a year?:splat:

Something is up with that quote Joe. I've got my '86 22C insured with them for less than $500 / year with a declared value of $20,000 in Florida. They also know it lives on the lift at the house.:confused:
Dan

[David Hartmann]

I am trying to get innsurance on my boat. It is a 1967 19'
whenever they hear the year they say no.

I just requested aquote from NMU I will let you know what they say.

I have completly restored the boat with 2004 powertrain and I would love to get repair value coverage on the boat. I am able to find liability for about $400.

David