[C320-list] Boat insurance question

[Scott Thompson]

I have insured with Erie Insurance for years. They handled our one and 
only claim after a lightning strike promptly and professionally. We have 
other policies with them and the pricing below may reflect that.

My policy insures the boat for replacement cost of the boat itself and 
actual cash value of other property, up to $90,825 loss limit, with $500 
deductible, $300,000 bodily injury / property damage liability coverage 
per occurrence, and $5,000 medical coverage per person. (We carry a 
separate personal liability policy so our total liability coverage is 
greater.) There is no mention of named storms. The annual premium this 
year is $560. This includes credits for diesel engine, depth finder, 
ship to shore radio, and nav system. Also includes small premiums to 
cover spars and sails if racing and for uninsured boater coverage. 
Geographic coverage is all of continental US and Canada and "waters 
along the coast of the United States." I can't find a definition of the 
latter, but presumably the Chesapeake Bay, where we sail, is covered. 
The policy says that our premium is based on a representation that the 
boat is "principally used on inland waters."

My guess is that I could get a better price if I shopped around. But the 
price advantage would probably be a drop in the bucket compared to 
annual upkeep costs, and so I think my time is better spent on boat 
maintenance! I consider boat insurance to be one of the lesser expenses 
associated with ownership.

Scott Thompson


On 5/25/2017 6:01 PM, Karl Mielenhausen wrote:
> Another comparison point:
>
> I am insured with Foremost (Grand Rapids, MI) via a local agent.
> Coverage Limits are Coastal out 75 miles, however it DOES include Bahamas
> (but no more than 30 days in Bahamian waters).
>
> Hull @ $62000, 1% deductable, going to 5% for named storm
> $300,000 liability (per accident)
> Also includes the dinghy and its motor.
> Includes hurricane haulout assistance.
> I'm in the water all year round.
> Premium is $514.
>
> No claims experience to offer.
>
> Karl
>
> On Thu, May 25, 2017 at 9:13 AM, Scott Westwood <scottwestwood at bellsouth.net
>> wrote:
>> Sorry but I saw Jeff provided some costs but still wondering what else is
>> out there.
>> Thanks,
>> Scott Westwood scottwestwood at bellsouth.net H (919)-362-8538     C
>> (919)-618-7185
>>
>>        From: Scott Westwood <scottwestwood at bellsouth.net>
>>   To: "C320-List at Catalina320.com" <C320-List at Catalina320.com>
>>   Sent: Thursday, May 25, 2017 9:03 AM
>>   Subject: Re: [C320-list] Boat insurance question
>>
>> Just asking but I will lay the rest out there.  We pay $417 /yr for this
>> coverage.
>> Any thoughts if paying too much?  I didn't see anybody else provide
>> costs.  Just what was covered.
>> Thanks,
>> Scott Westwood scottwestwood at bellsouth.net H (919)-362-8538      C
>> (919)-618-7185
>>
>>        From: Scott Westwood <scottwestwood at bellsouth.net>
>>   To: "C320-List at Catalina320.com" <C320-List at Catalina320.com>
>>   Sent: Wednesday, May 24, 2017 12:56 PM
>>   Subject: Re: [C320-list] Boat insurance question
>>
>> FWIW:We have Progressive.
>> This is our coverage.
>> Short version:75 nm from East and/or West coast (US and Canada waters
>> ONLY)Named Storm has higher deductible ($2,750 vs standard $500)
>>
>>
>> 1. Bodily injury- Limit- $100,000 each person/$300,000 each accident2.
>> Property damage Liability- Limit- $100,000 each accident3. Comprehensive-
>> Limit- Lesser of Actual Cash Value at time of loss (Ded-$500)
>>                Less Deductible or $55,000
>>                          Named Storm -  (Ded - $2,750)
>> 4. Collision-  Lesser of Actual Cash Value at time of loss (Ded-$500)
>>                        Less Deductible or $55,0005.Included with
>> Comprehensive and Collision- Wreckage removal-Marine
>>                          Electronics  (Ded-$500)6. Coastal Navigation- 75
>> Nautical Miles NOTE: A Coastal limitation of 75 miles
>>                  applies to this policy. Does NOT cover any territory or
>> territorial                 waters other than US or Canada. (My wife spoke
>> to them and they said this is East and West Coast. No alternative
>> options.)7. Replacement Cost Personal Effects- $5,000 limit
>> Hope it helps.
>> Thanks,
>> Scott Westwood scottwestwood at bellsouth.net H (919)-362-8538       C
>> (919)-618-7185
>>
>>        From: Denny Browne <denny.browne at me.com>
>>   To: C320-List at Catalina320.com
>>   Sent: Monday, May 22, 2017 11:33 AM
>>   Subject: Re: [C320-list] Boat insurance question
>>
>> We use Global Marine, in MI, (800) 748-0224   . They were outstanding
>> when working through a claim for us a few years ago. Not sure how
>> competitive they are, but they were really great to work with. But as a
>> Berkshire shareholder and advocate, I am torn...
>>
>> Denny Browne
>> A Cappella #935
>> Sent from my iPhone
>>
>>> On May 22, 2017, at 7:40 AM, Onat Dogruer <onat_s at yahoo.com> wrote:
>>>
>>> Thanks for the feedback everyone! Just a bit more as I spoke with them
>> again - I am told that entire data system has been transferred to Geico.
>> Geico will maintain/process all aspects - while I was figuring this out, I
>> actually was transferred to a Geico rep. In the past, I remember
>> underwriting company changing from time to time but I don't remember ever
>> interacting with CNA et al. They are all Berkshire companies as someone
>> pointed out.  This time, it sounds like a permanent shift. I certainly
>> understand staying with an insurance company for the long-term but I had
>> wondered what made BoatUS different now compared to State Farm, Nationwide
>> or Travelers or Chubb... Clearly folks have great experience with them as
>> well.
>>> Sorry, I know this topic has nothing to do with Catalina 320s but I want
>> to make sure she is taken care of! :)
>>> Thanks,Onat
>>>
>>>       From: "clburti at gmail.com" <clburti at gmail.com>
>>> To: Jerry's Iphone <jellyroll02 at gmail.com>; "C320-List at Catalina320.com"
>> <C320-List at Catalina320.com>
>>> Cc: "c320-list at lists.catalina320.com" <c320-list at lists.catalina320.com>
>>> Sent: Monday, May 22, 2017 7:29 AM
>>> Subject: Re: [C320-list] Boat insurance question
>>>
>>> Boat US pays hassle free and fast for named storm haul out (common
>> occurrence here in NC and no issue for all year slip storage. Deductible
>> reduced by 20% for each claim free year.
>>> Thanks,
>>> Chris Burti
>>> Farmville, NC
>>>
>>> From: Jerry's Iphone
>>> Sent: Monday, May 22, 2017 7:13 AM
>>> To: C320-List at Catalina320.com
>>> Cc: c320-list at lists.catalina320.com
>>> Subject: Re: [C320-list] Boat insurance question
>>>
>>> I have been insured by ACE Marine Insurance since buying our 320. I have
>> not shopped it for a couple of years but have been delighted with the
>> coverage and service. Unlike some plans, we are covered if we leave the
>> boat in the water during the winter months. They have paid hassle free
>> twice for named storm haul out.  The boat yard we use says others with boat
>> us were having difficulty with haul out coverage for some reason.
>>> I used to be in insurance and I can tell you it pays to shop around and
>> ask around.
>>> Jerry Sheets
>>> JellyRoll  #890
>>>
>>>> On May 19, 2017, at 9:31 AM, Doug Treff <doug at treff.us> wrote:
>>>>
>>>> Interesting. My policy is up for renewal end of July. If they jack me
>>>> up, I will have to shop around. Thanks for the information!
>>>>
>>>> I've not been totally happy with their service anyway, after having a
>>>> claim denied last year. They were once considered one of the best, now
>>>> with the move to Geico, they're just another insurer in my eyes.
>>>>
>>>> --
>>>> Doug Treff
>>>> doug at treff.us
>>>>
>>>>> On Fri, May 19, 2017, at 09:09 AM, Onat Dogruer wrote:
>>>>> Hello all,
>>>>> I have been with BoatUS for 8 years for our coverage; never made a
>> claim.
>>>>> This year they are switching me to Geico as well. With our recent
>> move, I
>>>>> had just Chesapeake bay in the previous plan and now being forced to
>>>>> switch back to "Coastal and Inland Waters of the US and Canada" hence
>>>>> increase in premium. I find it very strange for them to force everyone
>> to
>>>>> shift to this as cruising limit. The underwriters I spoke with at
>> BoatUS
>>>>> haven't been very helpful and told me that there is no more just a
>>>>> Chesapeake limited coverage.
>>>>>
>>>>> I wanted to get your thoughts and experience if you heard the same.
>>>>> Alternatively, which insurance companies do you use?
>>>>>
>>>>> Thanks,
>>>>> OnatS/V Kittiwake1998, #546
>>>>>
>>>
>>>
>>
>>
>>
>>
>>
>>