New Boat Insurance

[Kimberly Dawn]

Today was a great day, one of two in our boating life as they say... we made final payment to RT for our 2019 R27-OB!

Looking to change insurance companies. We will keep our boat on a trailer at home in Lake Stevens. Any recommendations?

Bob & Kim
The Doghouse 2

 

[gigharborite]

Chubb

 

[TBates]

Hi Bob,

I highly suggest getting in contact with Holly over at Global Marine Insurance Agency. Many of us at here at the factory are insured with Global, and Holly’s the best in the business. Shoot me an email or call and I’ll give you her contact information.

Thank you,

-Tim

 

[Kimberly Dawn]

Thanks, Tim... Spoke to Holly today... Trying to see what companies others might be using... See you Tuesday!

Bob

 

[Crewdog]

Can't go wrong with Global, but keep in mind that they are a broker; they sell policies for different insurers.

We initially got a policy with Traveler's through them, and thankfully never had to make a claim. It was a fairly easy process and good customer service to add Bahamas coverage and they guided us through the necessary steps.

We did a little shopping last year and switched to Boat U.S., which is owned by, and sells Geico Insurance. We are paying almost half of what Traveler's cost, with only slightly less coverage for a nearly identical yacht policy.

All I can suggest is that you shop around, compare apples to apples, and keep in mind that rates do change as your years of experience on the boat increase. Don't forget to have that boating safety course certificate too.

Good Luck!

 

[knotflying]

I use Global,who brokers Geico, but have used Progressive in the past.

 

[baz]

I have American Modern and work with its Agency Nutmeg Insurance (800-555-2510 or 800-759-9008). I believe American Modern is an 'arm' of The Hartford Insurance with whom I insure my auto and home with.

American Modern rates for my R-27/OB are very competitive. One bit of info needs to be understood concerning years of boating experience. For me I had lots of boating experience in my early years in and around UK waters. Then I had a long gap until 2008 when purchasing my first RT. American Modern looks at continuous boating experience and their rates drop significantly if you have 20 or more years.

I have good coverage and annual premium is $650.... and for my 2016 RT-21EC it was a mere $314/yr. 😱

 

[Kimberly Dawn]

Thanks for the replies. I opted to go with Global Marine (Markel American Yacht) which offers a RT/CW Endorsement package that seems very competitive. Annual premium is $610 for full replacement. Area of coverage includes both coastlines out 75 miles and all interior navigable waterways.

Bob & Kim
The Doghouse 2

 

[ixlr8]

Thanks for the replies. I opted to go with Global Marine (Markel American Yacht) which offers a RT/Cut Endorsement package that seems very competitive. Annual premium is $610 for full replacement. Area of coverage includes both coastlines out 75 miles and all interior navigable waterways.

Bob & Kim
The Doghouse 2

I went with the same folks, my rates are a little higher than yours, I suspect due to my low boating hrs and also insuring the trailer. My quote from USBoat/Geico was almost twice what Global Marine quoted me.

 

[Sky-guy]

I just insured a new boat and Used Griffin Maclean insurance in Bellevue. Robbie Tobeck (Ex Seahawks center) and Scott Sypher run the brokerage, and got me set up though a great company with very reasonable rates.

 

[bill j]

we just bought boat insurance for our new CW 302 coupe with BoatUS. Chubb was very expensive (nearly 60% higher) and Markel has 8 interesting and very negative comments on BBB. BoatUS (Geico) insures for full initial cost and not depreciated value. Bill

 

[Rocky Lou]

I bought from my Farmer's guy as a default for $1700 then, as an afterthought, checked a few online quotes. BoatUS/Geico was $780 for $500K liability, $3K deductible (declines each year), full replacement and a host of BoatUS features and partner discounts, including their Gold Package towing, that sells for about $200/yr. Needless to say, my agent was left muttering...'I don't know why we charge so much' when I told him he was not the winning candidate.

 

[ethanbarnett]

Rocky please note that the towing coverage within your policy is a Trojan horse. You see if you make a towing claim it is a claim against your policy. I found out when I was seeking reimbursement for a short tow while in Canada. Please do confirm.

 

[Rocky Lou]

Hi Ethan,
Any tow will be noted on my policy. However, BoatUS said specifically that it would not increase my rate. Beyond towing, there are a number of discounts that I will actually use like gas, West Marine and some local Marina’s guest fee. Now that West Marine will match Amazon prices, I’m using them all the time.

Cheers, Paul

 

[ethanbarnett]

Does not affect rate but they said it would negate any vanishing deductible due to a claim. I will be going back to my stand alone platinum unlimited coverage separate from my insurance.

 

[SassyRed]

We have worked with Bob Schwab at Anchor Marine.
Anchor set us up with a Traveler's Yacht Policy. The Traveler's policy was competitively priced and looks to be very comprehensive. Also, Bob is a really good guy. His number is 206-273-6996

 

[TylerFromEverett]

I’m in Everett and use McClain out of Everett. I’m insured with Pemco through them. My broker is Nick Pembroke and he’s amazing. I like McClain because I get amazing service and they also do a ton for the SnoCo community.

 

[bill46]

Join MTOA and look at their insurance options. They have negotiated some great deals.

 

[SJI Sailor]

+1 to Anchor. Although it is good to get 2-3 quotes from different agencies as they can vary according to location, operator experience, how you use it, and your preference for degree of comprehensive coverage. Anchor provided several options and we went with the Travelers yacht policy which seems exceptionally comprehensive (and Bob was great at answering questions as others noted!)

 

[TylerFromEverett]

Just remembered that Kathy Craven from Craven insurance is a recent Tug Nut herself. She’s a legend in the PNW.