Boat Insurance

[boatymcboatface]

Hi,
I recently hit a log/dead head that bent my rudder so bad that it pulled the exterior rudder plate away from the boat. This caused the boat to take on water to the point I needed boat Us to pump me out and tow me in. My insurance Boat US/Gieco only pays 50% on running gear prop rudder. So along with a 3K deductible and 50 % on parts I am going to be out of pocket 6K at least. Has anybody had this experience with Gieco? I feel under protected by Gieco can anyone recommend a better insurance that cover running gear 100%.

thank you.

Boaty

 

[Cutwater28GG]

Not sure about the specific coverage but check out anchor marine.

https://www.anchormarineinsurance.com/

they do a lot of fluid motion boats.

 

[piglet 2013]

We have progressive insurance and hit a log in lake Michigan last summer. We had pretty much the same issue after the dust settled, with deductibles and exclusions insurance would pay so little that we did not make a claim. Paid the 6k out of pocket.

 

[glider4]

We have been using Anchor Marine in Seattle as our insurance agent for years. They have placed us with both Chubb and Travelers coverage over the past decade based on our needs. Travelers is great but can have more restrictive geographical limits.
Our current Chubb policy has a 1% property damage deductible for most accidents, including the one described above and towing coverage of up to full stated value of the boat if necessary. The premium is slightly higher than Geico or Progressive but not by much!

 

[Gin]

You might try Boat Insurance Agency in Seattle. I had Travelers through a local Portland agent that I wasn’t happy with. So when it came time to renew in February, I started shopping, more for a better agent than a better policy. I’m much more satisfied with BIA’s customer service and yacht insurance expertise. I ended up with a Markel policy with equal and in some ways better coverage than my Travelers policy and at a significant savings.

Gini

 

[Mastercraft]

So hard to compare policies. Boat US / Geico includes the Boat US towing in the standard policy. This is the standard Boat US towing that costs about $200 per year as a separate policy. The only difference that a separate tow policy is good for any boat that you are on. At least boats the size of Ranger Tugs.

 

[scross]

And then there’s the fine print in all the policies. The Boat US towing coverage is good up to 30 nm from the service providers home port. Gold coverage gets you 50 nm of towing coverage. In BC, Boats US has 2 service providers - one in Ganges and one in Vancouver. That’s it. So if you are north of Secret Cove or Dodds Narrows or even south of Sidney the coverage doesn’t fully apply if at all. For us that’s where we are about 1/3 of the time. That’s why, for us, we want at least $20K of towing coverage everywhere within our insurance policy geographic coverage range.
So a great policy for you could be a horrible policy for us. Everyone has different insurance coverage needs. The goal is to be covered and not to be surprised that you’re not covered when something bad happens.