Insurance

[charlie&juliesboat]

Hello Tugnuts:
Our new R-27 will be completed in November and we are chomping at the bit to begin the cruising phase of our lives. As we are finishing our final preparations, we're looking at insurance policies and wanted feedback from you experienced cruisers. We have quotes from Progressive, State Farm, BoatUS, and Anchor. All the policies are within $40 of each other but Anchor seems to offer much higher limits ($1M vs $300K) on liability and other areas as well. Any input will be greatly appeciated!

Charlie
(Skipper of Charlie's Jewel)

 

[walldog]

We have had Anchor for 4 years now. Hands down they know our Ranger Tugs and us. Their rates and value have sold us.

 

[jroyle]

We've been with Anchor for 3 years..no complaints at all.

 

[JamesTXSD]

My experience has been with State Farm and Progressive. While the premiums were close, State Farm allowed stated value and insured us anywhere in the US and Canada, up to 75 miles off-shore. Progressive (at the time) said their coverage was for specific areas (US west coast, Gulf Coast, or US northeast) and operating out of the area required a call to get another area (with, perhaps, additional cost). Be sure to check with whichever company you decide to make sure you are covered wherever you might be going; for a specific dollar amount, not a standard depreciated amount.

Congrats on the new boat!

Jim

 

[Spinner]

Make sure that you buy a policy from a company that is experienced with boats. You want a "yacht policy"....

If you are planning to keep your boat at a marina, check with the marina about their requirements. For example, my marina requires an $850,000 liability policy, as best as I recall. The advantage of dealing with a specialty company shows in things like that. They knew what my marina required, and the marina is familiar with them also. My agent makes sure that the marina is always provided with my current policy.

Enjoy your new boat !!!

 

[Pete]

Unfortunately the real test of satisfaction with an insurance company is how they handle claims - especially when dealing with major issues. BoatUS has a good reputation in this regard. I've been with them for many years and found them easy to access and responsive to questions, changes in boats, locations etc., but no claims yet.
Pete

 

[knotflying]

We have been using Progressive through USAA. We have not had any claims, but regarding service and coverage we have found them to be good. In general, we have found USAA to be the best and it seems that when you get insurance from an underlying carrier through them, the way you are handled is much differently then if you came off the street.

 

[Hydraulicjump]

We have Anchor Marine, upon the recommendation of the Ranger Tug folks. I could not be more pleased with the price, service, level of coverage, etc. They are brokers and got us the best deal on our "yacht" insurance.

There is a very personable guy there:

Bob Schwab <bob@anchormarineinsurance.com>

He has been a champ and has been very responsive. If and when we upgrade to the 29, 31 or 35 (!) we will, without question, go with them again. We had a small claim and it was a piece of cake.

Jeff

 

[baz]

I insure our R25 with The Hartford. I added an Umbrella policy (very reasonable cost) to get the required liability limit my Marina required along with a separate policy that cost me around $550 per year. I've made no claims so far so cannot indicate how well they would handle a claim. However, I do have my home and auto insured with them and the odd claim I've made has not been an issue and was handled efficiently without any fuss.

 

[USNA81]

Skisafe was by far the cheapest in FLA, but don't know their reputation or have had any claims to comment on service.

 

[Kaisardog]

you may wish to ask the broker specific questions about exclusions from liability. at our home marina , a poorly-stored sailboat fell off unsecured jackstands and took out 3 other boats. those owners were dismayed to find that their policies covered on water collisions or catastrophes, and that dry land perils were specifically excluded. so ask the specific question: what coverage does this policy provide against. ask your wuestion in writing, and get a written repl.

1.events during storage on shore such as vandalism lightning strike fire or dryland boat or vehicle collision?

2. what coverage and limits on oil spill or pollution, deliberate or accidental?

3. is this policy primary for coverage of medical bills of passengers or crew due to a boat related accident ?

you may find some surprising exclusions, hidden in terms such as 'waterborne perils coverage only...'

fair winds,

kaisardog 🙂

 

[USNA81]

Has anyone had any experience with Skisafe Insurance?
The are much cheaper than anyone else , but not sure of the reputation or claim support, coverage etc.
There are a few differences, ( on trailer for part of season,etc) but for the trailerable trawler crowd, that is perfect as well as the significant premium savings.
Any comments ?
Thanks