Boat Insurance

[Popeye]

This is a good one. Just re-fi'd the boat at a much lower rate When we got the insurance binder out to give to the bank, Julie noticed that it said "coverage to 50 miles offshore" :shocked: :whazzup: Not trying to cover for my own neglect, but I had specifically stated to the agent that I typically fish up to 75 or so miles offshore! So I called him up (in Seattle) and he said, "OK what days you goin out, I'll put a rider on it to cover you." I said how much extra? He said, "Ah nothin',your carrier is goin' outta bus. anyway" :shocked: So, I am now shopping for new insurance! This Agent was recommended to us by the BANK when we bought the boat, and ONLY deals with boat insurance!

[Pitch Pocket]

Lots of posts on boat insurance. I like Chubb Yacht Insurance. No limit, you can go to China. Top rated company.

[Popeye]

Well, I neglected to say that my binder will be picked up by someone else, but I still don't like it! I've contacted Bluewater Yacht Insurance, which was recommended to us by a coupla people in San Carlos MX, that said they were the best. If that doesn't pan out, I'll try Chubb. Thanx Pitch Pocket

[skein]

I use BoatUS, and their coverage is any US or Canadian waters. I asked how far out and they said it didn't matter as long as it was off the US or Canada.

Hmmmmm... that doesn't cover Cabo does it?

Skein

[Miss B Haven]

Popeye- I'm going through the same thing. My "old" insurance was Firemans fund and they bailed out of the Yacht insurance business last year. My broker (Anchor Marine in Seattle) first lines me up with Markel but before it was in effect (or paid) they switched to "Ace" with a lower premium and better coverage. The initial coverage was for 25 mile radius off the CR. I asked for 75 and the policy showed up with that at no charge. The problem is that it's only good for July-Sept 15th. The broker called to get the date extended and they won't do it, even for an extra fee.
THe boat insurance bus is a sellers market right now because of the busines climate. You might have a problem. THe way the Weather is going this year I'm not sure I'l lbe out offshore again but you never know. What really irks me is that I can go over the bar 365 days a year and 25 miles out but can't go over 25 9/15 to 7/1???? [img]graemlins/stupid.gif[/img]

Skein- Are you SURE that Boat US is any US or Canook water?? I have NEVER seen or heard of a Yacht Policy that was unrestricted for times or distance. They don't mean the 12 mile line do they? (the 200 mile economic zone would be ok!) Also- is it a real Yacht Policy covering an agreed value (not replacement that will discount for age/depreciation) and covers things like Environmental damage etc? What's your premium cost (if you don't mind). I'm paying $1375 a year but my agreed value is more than my house is worth too!
I'll be checking Boat US again since I'm a member and apparently need to shop around. I'll see what they say.

PS- Skein, just realized that maybe with your size/range boat they don't worry about placing restrictions??? I never had any in my Bayliner either but I never wanted to be out of site of shore either! [img]graemlins/eek13.gif[/img]

[ 09-15-2003, 02:37 PM: Message edited by: Miss B Haven ]

[Miss B Haven]

Bruce sent me a copy of the "new" Insurance proposal he just got. Looks like he's got some more work to do. :depressed:

"Navigation area: Southern California - Rio Santo Tomas, Mexico to Point Conception. Not to
exceed 75 miles offshore."

[Pitch Pocket]

Mel, Chubb is no limit offshore. Not sure about Mexican waters though.

[Miss B Haven]

Steve- you going through a broker or is Chubb direct? I'm still concerned that the smaller boats don't have restrictions cause they are self restricting. Popeyes got the restriction on his old and his new quote and I have had it on all three companies I've seen (as well as an quote I got from Boat US 4 years back). All my bud's policies have restrictions as well.

I dunno the answer.... but I'm gunna find out!

[fishwhenican]

Progressive has USA, Canada and Baja coverage on their policy. I don't remember what the limit is offshore, but it was more than I planned on. Your trip may strain that limit, but that may be another option for you.

[ICHTHYDEMON]

I use USAA. I have them for everything we own. I read awhile back that some companys only insure for certain areas,and only so far offshore. I asked them where I had coverage,and they said I was covered anywhere in the world I take my boat. Apparently thats not the norm,and I called and asked again,and got the same answer from a different person.

[Mark Mc]

Several folks mention how their agent tells them verbally what the coverage is. Well, remember the saying...."get it in writing."

[HOGGEMIN]

I have Formost don't know what the limits are for your size craft but it is beyond what I want to go in my 20'er. 1-800-527-3907 Good luck and many swords to ya.

[Onokai]

I ues boatsUS for my two boats . They have been great. Low rates as well. Mark

[8knots]

When I financed with Essex out of Seattle they helped me find a good yacht insurance company. I used Boat US before, and was fine with them, but this company seems to specialize in larger boats. I am out of town until Thursday night. I'll check the policy when I get home. I know they don't want me to go to Cuba, but they have good offshore limits, no seasonal limits and had no concerns when I took it up the coast to Canada a few years ago.

[Pitch Pocket]

Accordia of Oregon (800)800-2341 ask for Ellen Coomer. They handle Chubb.

Also, if you are traveling the world, you can go with Lloyds of London. Check out the Yacht policy at this website. Atlas Insurance

Both of these companies handle the larger and more expensive boats.

[Misty Dawn]

Hey, if you haven't aready committed, call Neal Booth at 800-828-2446. His company is called Boat Insurance Agency. My fishing guide friend says he has quality insurance and is competitive.
Good Luck.

Jim

[CAPT KUJO]

The BLACK ROCKET is insured through Charter Lakes Insurance. They had the best rates I could find. Dan Longman 800-879-2248 Charter Lakes Insurance Co.

CAPT KUJO

[nerta]

I also use USAA for everything. Where ever you go you are covered.

nerta,
You won't go over the bar or past a bar :grin:
See you in a week or so.

[Nalu]

I checked all over and finally settled on Charter Lakes as well. Definitely the best rates I could find for an agreed hull value, and specific criteria for off-shore, navigational area, and type of coverage needed.