Boat Insurance

woodduck · Posted: Wed Aug 29, 2012 11:57 am Post subject: Boat Insurance

Greetings, Does anyone know of any boat insurance that allows the insured (us) to suspend part of the insurance such as collision, property damage, bodily harm, etc. when the boat is not in use in the "off" season? Of course, we would want to insure the boat with theft and damage to the boat such as a tree falling on it all year round. We are currently insured with SAFECO to the tune of $645.00/year. Any suggestions?

Thanks,
Ken; aka: wood duck, Bend

B&B Burks · Posted: Sun Sep 02, 2012 1:36 am Post subject:

Hi Ken,
Don't know about the suspension of coverage you asked about, but for a better rate overall with good coverage try Progressive.
Bob

Sea Wolf · Posted: Sun Sep 02, 2012 7:29 am Post subject:

Ken-

I'm going to offer a guess:

1. Can you imagine all the different cancellations and limitation changes the insurance companies would have to allow and keep track of to do what you're asking about?

2. How about calculating and applying all the rate adjustments and refunds?

3. And why would they want to do that, anyway, when it's just easier to keep the policies in effect and keep the fees?

You might be able to get some adjustments on a very large, specially written commercial policy on a very large boat, but I doubt any small consumer/home and boat owner could get any seasonal or similar adjustments.

Just my 2 cents worth guess at this point, since no one has offered a professional opinion!

Joe. Teeth

c-ness · Posted: Sun Sep 02, 2012 8:51 am Post subject:

I'd call a few insurance companies. We suspended coverage on our daughters car when she spent six months in Europe. A friend of mine covers his VW camper only during the summer.

Captains Cat · Posted: Sun Sep 02, 2012 2:24 pm Post subject:

On a progressive boat policy you can go in at any time and change your coverages on the internet. I'd call them first though and see what effect it has on costs if you do it too any times. When you change it, it tells you how much the cost changes before you accept it.

Charlie

potter water · Posted: Sun Sep 02, 2012 6:57 pm Post subject:

Me thinks safeco is ripping you off. I'm at about 250 dollars a year for the works. But then, my boat spends much time parked, though there is nothing in my paper work that shows any limitations on how much time I can spend on the water with the boat. It is insured for in-motion and parked under tall trees as well. Maybe it is being located in Ut. In any case, seems that you need to shop for something else. Under financing, there is no way to change rates up and down. Most lender institutions will require 24/7 coverage of the boat against all risks. I use state farm, but I also have all 4 cars, two other boats and my home with state farm.

Jack in Alaska · Posted: Sun Sep 02, 2012 7:40 pm Post subject:

State Farm here......$450/yr. for full coverage on $50k of value (boat/motors/trailer/equip.) and salt water usage. Year around coverage but I only use it about 5 months.

I also have two homes, 3 vehicles and an umbrella policy with SF.

I had to use my insurance years ago on a 22' CD when the building it was in collapsed from a 7' snow load. They paid me promptly and fully for all damages. Also paid for a 30' Holiday Rambler travel trailer that was 4' high after the smash.
As a note of interest RED FOX C-Dory (previous owner) was right next to mine and got smashed also.

woodduck · Posted: Sun Sep 02, 2012 8:17 pm Post subject: boat insurance rates

Greetings,

Many thanks to those who responsed to my question regarding insurance for our 25' C Dory. I'll post my findings on this web site. Due to too many other activities our boat has not been in the water since summer 2011, but next year will be different as we'll appropriate our time better.

Ken

Chuckpacific · Posted: Sun Sep 02, 2012 11:44 pm Post subject:

CD-22 - $157 USAA
Camano 31. - $590. Ace

hardee · Posted: Mon Sep 03, 2012 12:17 am Post subject:

dmengland · Posted: Mon Sep 03, 2012 1:10 pm Post subject: USAA

rob bauerle · Posted: Mon Sep 03, 2012 1:50 pm Post subject:

that is correct USAA does send people to progressive for boats. Good thing. They were and are, in my opinion, great for auto insurance, terrible on boats.

Chuckpacific · Posted: Mon Sep 03, 2012 4:16 pm Post subject:

USAA sent me to Progressive for my big boat policy....their estimate was $1660.

Both price quotes (USAA and Ace) were for one year.

Chuckpacific · Posted: Mon Sep 03, 2012 4:18 pm Post subject:

...........and the USAA policy was for full replacement.

Spike · Posted: Mon Sep 03, 2012 4:39 pm Post subject:

Harvey Up till July I had Framers (Foremost) also. I know for a fact you can do better. We ended up with Progressive. Better coverage for almost half the price. We will see as to if I ever have to make a claim. Hope not to, knock on wood.