Boat insurance with pricing.

[bigeasy1]

So,I decided that for Insurance, I'd go with Hagerty for my 41 year old Tsunami.Buddies of mine use them for their classic cars and have had good luck with them.

I got a quoted price of $298.00 which gives me $10,000.00 agreed coverage for the boat and liability of $300,000 per accident, $854,400 (coast guard.minimum) for fuel spills,$5,000 personal effects, $300,000 per accident uninsured boater, $5,000 medical payments per person,and $25,000 per family member.

Overall I thought this was a fair price.I think I will raise the personal effects however to 7,500 which will add a bit more but not all that much to the cost.There is a $100.00 deductible on personal effects.
I'd like to have double the agreed coverage,but this at least will give me halfway decent coverage for a very reasonable fee.

All they needed was some photos showing the condition of the boat,so I sent them a link to a photo bucket file, and that satisfied them.As mentioned,they are underwritten by Essentia insurance.

[dave3fl]

Is that price per year?

[bigeasy1]

Originally Posted by dave3fl

Is that price per year?

Yes,that's the yearly premium.

[Riley@florida-re.com]

That is a good price. I have a 77 Sceptre with $40K in coverage and its $750 annually.

[dave3fl]

Nice, I'll have to give them a call. Thanks for sharing

[wattaway2]

It will be interesting to see what the florida rates run

[bigeasy1]

Originally Posted by wattaway2

It will be interesting to see what the florida rates run

The rate I posted was New York,as that's were my boat is used and where it lives all year.

[Chaser]

Sounds reasonable but if it was me I'd have a higher agreed price. IF you do end up totaling the boat, you are gonna pretty disappointed with only 10k. Even with my 78 MA before the refit I had an AV of $15k. Will probably bump that up to $25 or $30k now that the boat is restored. Unfortunately most boats are worth more dead than alive...

I think for $15k AV and $1m umbrella I pay around $500/yr. I do insure multiple boats though. Through Progressive, who I have always been happy with, on BOTH sides of the insurance equation (customer and vendor.)