boat insurance
 

I seem to be having a problem getting anyone willing to write a policy to insure a 1978 seacraft. Does anyone know of or could recommend a carrier that will write a boat policy in Florida? thnx..

Re: boat insurance
 

Boat US

Re: boat insurance
 

Charter Lakes, with survey.

Re: boat insurance
 

Progressive did it for a 1970 Seafari in hurricane alley (Miami). About $80/month 1.5 years ago.

Re: boat insurance
 

Just got off the phone with Boat US - they will insure but only with a prior survey. Survey would be ~$250 from several local guys. Is a survey required for boats 30yrs old now?

Boat US quote contingent on survey was $440 pa with $460 deductable ,9k stated value (max they would go to), 300k liability, $1100 trailer, 800k epa/fuel spill, $1000 med.

Apparently you can get 10% deducton for becoming a member and doing thier online boat traing class.

So - ~36 a month...

Re: boat insurance
 

ditto the Boat US thing. you may have to press the "agreed value" thing, but i just went through the same thing for a '76 seafari i recently acquired.

actual quote:
SUMMARY OF COVERAGES
Boat and Boating Equipment (Agreed Hull Value) : $20,000.00
Boat and Boating Equipment Deductible : $250.00
Boating Liability : $300,000.00
Fuel and Other Spill Liability : $800,000.00
Medical Payments : $1,000.00
Boat Trailer : $.00
Trailer Deductible : $.00
Personal Effects : $.00
Personal Effects Deductible : $.00
Uninsured Boater Protection-Limit each Accident : $300,000.00
Commercial Towing Assistance - Each incident/Annual limit : $250/500

TOTAL ANNUAL PREMIUM : $252.00
STATE SURCHARGE : $.00
BOAT U.S. MEMBERSHIP (Required if not a Member) :$19.00
TOTAL ANNUAL COST : $271.00

Re: boat insurance
 

It's been more than 10 years since I called BoatUS for insurance. Circumstances have not required me to.

When I was insured with them, in the event of a claim they simply asked for three estimates and authorized the repair. There was no waiting a week or two (boating time) waiting for an adjuster. Further, they were at least 10% less than the average quote I had gotten elsewhere.

Up here in the northeast the boating season is short and one or two weeks is in lot of "lost" boating time.

Good luck and be well.

Re: boat insurance
 

That Boat US Rate is very reasonable. Just remember, insurance is first and foremost, fiscal responsibility in the event of a catastrophe.
The boat is replaceable - the lost lives or serious injury is what will bury you financially, in the event of a suit. Frankly, no one will give you a fair restoration value on an older boat, classic or not, without billing you a small fortune if there is no lien holder on the boat. And I don't think the VISA counts :D Liability bang for the buck is what will keep you afloat in the event of a tragedy. In the financial pyramid, the first line of defense is insurance. The most important part is liability. Focus on that. Boat US and a few others seems to understand that, that's why "agreed value" rates are reasonable. Don't get hung up on replacement value... P.S. I hate paying for insurance nearly as much as taxes and interest, but just that one time I needed it and had it, has saved me from a lifetime of debt I would still have now if I hadn't had it... Andmake sure you get the vessel assist or sea tow or whatever the program they have up there is, too. Good Luck.

Re: boat insurance
 

State Farm. '72 Seafari w/ 2006 Mercury Optimax.
BUC values: hull $4700, Motor $6100, kicker motor $250, equipment $1050, trailer $900, TOTAL BUC VALUE as of 5/1/08 = $12,900

Insurance Agreed Value for boat & equipment $12,500
$356.74 per year. $29.72 per month
Hull Deductible: $250
Boating Liability coverage: $100,000/$300,000
Fuel and Other Spill Liability : $500,000/$1,000,000
Medical Payments : $5,000.00 each person
Boat Trailer coverage: $2,500
Trailer Deductible : $100.00
Personal Effects coverage: $1,000
Personal Effects Deductible: $100
Uninsured/Underinsured Boater Protection: $100,000 (includes medical)
Commercial Towing Assistance - declined (would have cost addl $180 per year and I have SeaTow)