Insurance

[PhilR]

My boat insurance carrier, Travelers, has increased my premium to $962.00 for the upcoming season...6 months in a fresh water lake, 6 months in indoor storage. Am I paying too much?

Phil

 

[trailertrawlerkismet]

I've heard many times that Travelers is a great company. With that said I just had a conversation the other day with fellow Ranger Tug owners and the consensus was $900 to $1,100 was about the average for coverage. Obviously this depends on where you boat (Florida is expensive by comparison), if you're heading to the Bahamas, etc. it will cost more. Get a couple of quotes, based on your boating pattern, from a couple of other company's to compare against Travelers. Let us know what transpires.

 

[pleeson]

Seems pretty fair for a $200,000 investment but most stuff is more expensive here in the great white north....

 

[Sound Hound]

Liberty Mutual, our auto and home coverage only covered up to $100k for around the same amount that what Travelers charges us ~$967. We have a 2014 25SC. Consider the type of coverage. Apples to apples. The $10k towing coverage alone appears generous compared to other policies.

Keith & Brenda
Portland, OR

 

[Pete]

I've always insured my boats through BoatUS. Last year the premium for my new R 27 in the Great Lakes with indoor winter storage was $927 with a credit of $185 for no prior claims, giving a net of $742.

This year, full time in Florida is a little more.....make that a lot more.

Pete

 

[knotflying]

We have Progressive for our boat through USAA and we pay $1,072.00 and of course we all have variables such as Location and use, amount of liability, amount of loss coverage on boat, loss of personal possessions and deductible.

 

[Don and Brenda]

Chubb yacht policy $792 with all the bells and whistles.

 

[Ard]

When insuring my R21 Classic I had the option to insure it for whatever value I placed on the boat (agreed value). Having just been through a claim on my C&C 26 which was a battle, I chose this option. Otherwise, in the event of a total, the insurance companies will place value based on recent comparable sales irrespective of condition and/or additional features or options.

 

[Brian B]

ACE Recreational Marine was highly recommended to me one year ago when I purchased my 2010 25SC tug.
I am covered cruising anywhere in U.S. and Canada waters, year round.
Agreed value ($129,900), hurricane haul out, towing, etc., yearly premium is $833.00
Recently added the boat trailer for $35.00
I went through Almeida and Carlson Insurance Agency, Sandwich, MA
I compared many companies and ACE offered the better policy/price.

 

[PhilR]

Thanks to all for the input. It looks like my premium is in line with most others for complete coverage.

Phil