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We just bought a DE 38 Ketch and we need to bring her home but Boat US insurance would not cover us while we were away from the slip until all the issues found on the survey were completed and signed off but they include all new standing and running rigging, new chain plates and new fuel filler lines, all which is scheduled to be done next winter when the weather cools off.
Any idea on where I can get some marine insurance for real boats?
Thanks!
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Talk to some of the fishermen and find who covers them and then see if they write private policies. I had a 1800 dollar a year quote from Boat US and ended up getting better coverage from a local company for 400 a year. I think the actual insurance company they quoted me for is called Foremost? I would have to look. The De38 is just over the length limit they write policies for sail boats on. The agent I have talked them into a waiver for the extra foot of length. I think it was 42 or 43 ft limit. But the little guy agent was willing to go to bat for me and get it done. The next nearest policy was 600 dollars and all the rest were 1800 and up.
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ok, I'm impressed. Boat US quoted me $3,685.00 for the east coast and Bahamas: minor medical coverage, hull and liability.
I'm trying my auto insurer right now. I'll ask around the boatyard next.
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allstate would have covered it for 400 or 600,, forget which if i had other policys with them. Geico would write it also I think but it was 800'ish. all of them are going to require a current survey with stuff fixed and signed off on by surveyor before they write the policy.. downside of old boats like ours.
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How far do you need to go? Progressive insures my DE38 Cutter for ~$700 yearly and they did not care about a survey. I'm "only" allowed to go 75 miles offshore.
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the survey is the rub. My surveyor mentioned a couple things he recommended be fixed before the boat leaves the dock which I thought was harsh but good for bargaining as I was able to take another 11% off the price but Boat US said sure, we'll insure it as long as everything is done before you "navigate." Everything they were asking for was my entire first year time and material budget and all the work was slated for next winter (sorry you northerners) when the weather is perfect and in my yard, 2 days away from where she is. I need someone to cover me for the initial trip. I have a price coming from Bluewater Insurance (who haven't asked to see the survey yet) and Offshore Risk who hasn't either.
I'll try progressive next.
Thanks!
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and to answer the question how far, we want to do the ICW from SE Florida to Maine next year and the Bahamas the year after that. Hopefully the first mate gets used to longer crossings and we can head for the Virgins and the ABCs after that.
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Yeah, progressive gave me the policy right away. But I basically pay more for not having a survey, I suppose having more expensive insurance to get the boat home is better than sailing uninsured. However, they don't cover more than 75mi offshore, I'm not sure if I can request additional coverage for that.
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interesting .. progressive wouldn't cover me without the survey. Actually no one would.
Scott
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We were really tight on money and I ended up finding a guy to do the survey and traded a website with him for the survey. Worked well for both of us as he had wanted a website and I needed a survey. He is the one that recommended the insurance company that got me the quote for 400 dollars. So it really worked out for me.. I went from 1600 dollars for insurance and 600 to 700 for a survey for a total of 2400 dollars down to 400 dollars. It went from unfordable to ok I can do this.
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Looking to lower the insurance premium price on Eclipse ... discovered Kevin Curran, a non-DE boater from the Pacific Northwet, who lists several insurance co. links on his site : All Things Boat. FYI ~ NBOA uses Progressive, a non-starter! Anchor Marine uses Geico, almost 3.5 times the present premium. Foremost, that Scott mentioned, uses Farmers Insurance Co. and could not give me a quote for FL on the 29th Feb. 2016 as their system is incorrectly programmed for leap years!
Many boat insurance providers offer discounts for boats that have passed the completely free : Coast Guard Auxiliary 15-point boat safety inspection that confirms your vessel is in compliance with all safe boating requirements.
Kevin recommends a State boater education card or boating license : requirements ... I have a Florida Boating Safety Education I.D. Card that lowers my insurance premium.
FYI ~ was informed, BOAT/US do free surveys for member's boats of a certain age. If you own an older boat, your insurance company may reimburse you for a claim at a ‘depreciated level’ ... ensure your boat insurance policy is based on ‘Agreed Value’ as, that is what you are paid in the event of a total loss with no deduction for depreciation.
In California, Sullivan & Strauss Agency, Inc., known as : SkiSafe or SkiSafe Insurance, has California Insurance License #0642474. It is domiciled and maintains its principal place of business at 1 Hollow Lane, Lake Success, NY 11042. Tel. 1 800 225 6560 They offered the lowest ‘Agreed Value’ premium of all [$1,514.00 less than the current Co.] on condition I provide a recent survey by a qualified NAMS or SAMS surveyor. No can do!
Prior to buying ye goodly vessel Eclipse in Annapolis, MD, R.M. Stimson [NAMS certified marine surveyor] surveyed her and I quote, 'This boat is not equipped with approved holding tank.' Have been wondering what that rather large grey plastic box-like thing below the V-berth is ever since!
Martin – DE38 Cutter s/v Eclipse
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