[C320-list] Boat insurance recommendations?

[Warren Updike]

Sorry for the misunderstanding. I didn't mean to say that State Farm doesn't underwrite their own policies, only that some companies offering boat coverage (maybe other coverage too) don't do their own underwriting. 

Warren and Pattie Updike
1994 C320 "Warr de Mar" #62
Middle River, Chesapeake Bay

-----Original Message-----
From: Jeff Hare [mailto:Catalina at thehares.com] 
Sent: Monday, August 21, 2017 5:07 PM
To: C320-List at Catalina320.com
Subject: Re: [C320-list] Boat insurance recommendations?

Not that I'm even close to an expert in insurance... but as I understand,
State Farm is a family of companies with many lines of business not just a
single company.

>From One of their many companies:
"State Farm Fire and Casualty Company was formed in 1935 to provide property
insurance for State Farm customers in the United States. The product lines
written by State Farm Fire and Casualty Company include homeowners, boat
owners and many commercial lines. The company has been the largest insurer
of homes in the U.S. since 1964."

https://www.statefarm.com/about-us/company-overview/company-profile/state-fa
rm-companies

Not an endorsement, just that we think that they have all the
riders/salvage/coverage and agreed upon value we think we'd need for owning
and operating this boat.  Not sure what would make you think that State Farm
didn't underwrite the policies like this that they sell...

-J

-----Original Message-----
From: C320-list [mailto:c320-list-bounces at lists.catalina320.com] On Behalf
Of Warren Updike
Sent: Monday, August 21, 2017 3:24 PM
To: C320-List at Catalina320.com
Subject: Re: [C320-list] Boat insurance recommendations?

Companies, like State Farm, USAA, etc., may not actually be underwriting
boat coverage as it is not a primary line of business. They may offer boat
coverage as a service to their policyholders by using another underwriter.
As a result, it has been my experience that they may not be picky about
claims. After all, how many boat owners are going to manufacture damage in
order to make a claim. Of course, there are some companies that are just
easier to work with. 

Be sure to compare the policy details of proposals you are considering.
BoatUS is primarily boat insurance and their policies are tailored by
experience to minimize exposure to loss. Some of their terms may seem
restrictive; but, they know more about the risk of loss than some other
companies. I.e., consider coverage for salvage events. Many boat policies
don't mention it. That doesn't mean they won't pay in a salvage situation,
but do you want to be in a salvage situation to find out?

My insurance experience is only based on my own use of insurance. I also do
not have BoatUS: too expensive and they wanted a survey.

Warren and Pattie Updike
1994 C320 "Warr de Mar" #62
Middle River, Chesapeake Bay


-----Original Message-----
From: Jeff Hare [mailto:Catalina at thehares.com]
Sent: Monday, August 21, 2017 10:01 AM
To: C320-List at Catalina320.com
Subject: Re: [C320-list] Boat insurance recommendations?

We use State Farm because they insure our house and cars which gives us a
discount and I think an umbrella policy.

When we had a lightning strike take out our electrical/nav/comms systems,
they just said get a quote from who you want to use to get it fixed and send
us the bill.  Filed online, uploaded bills/pics, no adjuster, no need to pit
multiple marine electronics companies against each other, painless and no
haggling needed.

-Jeff Hare
#809

-----Original Message-----
From: C320-list [mailto:c320-list-bounces at lists.catalina320.com] On Behalf
Of John Ellis
Sent: Sunday, August 20, 2017 9:05 PM
To: C320-List at Catalina320.com
Subject: Re: [C320-list] Boat insurance recommendations?

Thank you, I will ask Allstate for a quote.

John
________________________________
From: C320-list <c320-list-bounces at lists.catalina320.com> on behalf of Jane
& Ken <obuoy4848 at sbcglobal.net>
Sent: Sunday, August 20, 2017 1:31 PM
To: C320-List at Catalina320.com
Subject: Re: [C320-list] Boat insurance recommendations?

Does Allstate offer coverage in your area--I had it for years and the price
was less than half what boat/US requested.


    On Sunday, August 20, 2017 2:07 PM, Scott Lagerquist <lgrqst at aol.com>
wrote:


 John,

I switched to progressive and they did not require a survey two years ago.
I am in San Diego, CA.  Ironically my bill is also $596.  I increased my
coverage to 500K liability and 40K Comprehensive with uninsured boater
coverage to 300K for our 1994 320 hull 39.  I imagine the region has very
similar coverage costs.  If you find a less expensive alternative let us
know.  Good luck!

Cheers,
Scott Lagerquist
C320 Hull #39; "Sea Esta"
San Diego CA

Sent from my iPad

> On Aug 20, 2017, at 9:25 AM, John Ellis <jr_ellis100 at hotmail.com> wrote:
>
> Ouch! - I just got my insurance renewal from Boat US (GEICO). Last 
> year's
premium was $369; this year's will be $596 with the same coverage, and I've
had no claims in 10 years. A 62% increase! Their letter says "The increase
in your premium is to cover the rising costs of providing insurance
protection for your investment".
>
> Does anyone have a recommendation for boat insurance in southern
California? I'd prefer not to have to pay for another survey when switching
insurance companies.
>
> John
>
> #271
>