Bahamas Insurance

[Discovery]

I renewed my boat insurance today. Progressive Insurance. I insure three boats. The 2006 TomCat TC255, a Baltik 8' 6" inflatable W/Honda 2HP, and a 2002 Tracker Targa 17' The total price was $655.00 for all three. As part of the renewal they offered to cover me out to 125 miles offshore, to include the nearer Bahamas Islands. The catch was that the boat had to be 26' or larger. OK the TC255 is listed as 25.5', but the actual length is closer to 30' with the outboard brackets and motors. I figured if I explained the actual total length was 30' that the TC255 would qualify. Wrong, they look up the boat via the VIN number. It's listed as a 25' boat period (they round down to the next foot). No way it can qualify for the 125 mile offshore offering. In fact Progressive will not insure any boat that C-Dory makes to travel to the Bahamas.

The question is, what insurance do you have, and if you are planning to go to the Bahamas next spring or summer, how are you being insured. I hate to get a new insurance package from a different insurer, just for a two month trip to the Bahamas. I don't know if there is enough of the Islands that are within 75 miles of the US coastal boundary. The limit is 75 miles period.

[JamesTXSD]

We are insured with State Farm, up to 100 miles off shore. When I last checked with our agent (last year), it included the Bahamas, no Mexico coverage. I will check again before we leave after the first of the year. Some companies allow an additional rider (for an additional fee, of course) to cover areas not in their agreed coverage area. Not sure how Progressive is with this.

We have Progressive on our vehicles, but found State Farm to be a better price and better coverage area on the boats (especially with the trimaran - some companies wouldn't offer coverage at any price).

HTH.

Best wishes,
Jim B.

[thataway]

Progressive lists my Tom Cat 255 as a 29 foot boat. But I pay a lot more premium because it is in Florida. I have to get a rider to go the the Bahamas. (only covered for 75 miles offshore--meaning 75 miles from US coast, so I'd have to have a separate rider for Canada. My Rinker 270 Fiesta V was only covered for up to 55 miles offshore) Sort of interesting how the same insurance company gives different coverages.

Also in Florida they will not insure any boat for more than $100,000 or more than 30 feet in lenght. (I assume that this is for Florida residences).

Is there an exclusion for hurricane season on your boat? It is really getting difficult and expensive for Florida insurance (of house or boat)

Regards,

[Dora~Jean]

When I went there 6 years ago with other fellow trimaran owners, we decided if any major incident happened, we'd tow the boat back into waters within the limits of coverage...that is assuming it was towable!

[thataway]

I don't remember the exact amount for the Bahamas, but it was in the neighborhood of about $300 for a rider to cover the entire Bahamas from Progressive.

However, I work thru a large yacht insurance brokerage who has had my boat insurance for some time--and Progressive was the best "deal" he could find. Some of the other policies were over $3500 for a year coverage (but they did include the Bahamas).

[Discovery]

Thataway,

I don't know how your Progressive agent can list the TC255 as a 29' boat. When they rate it, no matter who I talk to, its 25'. They put it in by VIN number, and the computer says it's 25' long. The agent tried to input a different length, but the computer kicked it back to 25'.

[drjohn71a]

I just got my new TomCat insured by Progressive and they only showed the TC 24 for the new TomCat. I explained to my agent that the TC 24 was no longer made and that mine was a TC 255. He said that the length is taken from the hull number, so it does not matter what the verbal description is.

John

[thataway]

For CG documentation reasons the TC 255 is 27'6" long. The Armstrong bracket provides floatation and thus counts as the length of the boat.

Don't know exactly how my broker figured the lenght--but the bracket was taken into consideration.

Obviously things are done differently in different parts of the country.

If you have an issue in getting the boat over 26' for length going to the Bahamas--you might consider the documentation lenght.

I was told that no problem getting a rider for Bahamas.

[Casey]

I decided to ask our insurance company (USAA) what their policy was regarding boating to Bahama's. Simply-put, I was told the insurance is written "worldwide." Evidently recreational trips (...maybe a couple months) are ok. They indicated that if we found that we began going every year for a few months they may revisit the premium, but for simple recreational boating - no problem; we're covered.

Casey
C-Dory Naknek

[thataway]

I believe that USAA (which I have all of my insurance, except boats for 40 years) acts as an expeditor for much of the boat insurance. I don't remember the exact size (it may be 22') but beyond that, they sub out the insurance policy. We have checked with USAA a number of times and found that either the insurance was not satisfactory, not available or more expensive, for the boat, than other policies. However, for the house, RV, autos, etc USAA has been fantastic.

[Doryman]

Just to provide another data point, Liberty Mutual charged me ~$1400 for a year's insurance on my Tom Cat, which includes the Canadian Gulf Islands as well as Puget Sound and, I believe (need to check this) coastal OR and WA. I asked BOAT/US for a quote and it was about ~$1200, but I am staying with Liberty for the time being because all my other insurance has been with them for the last 20+ years, all very satisfactory. This is for a boat that is in a slip, which I assume would be more expensive than a boat that lives on a trailer.

Would be nice to have some more data points, and not just for Bahamas riders.

Warren

[thataway]

Progressive, $100,000, hull, $500,000 liability, 500 Towing, includes trailer roadside assistance, $1000 deductable hull, $500 deductable electronics, $250 deduct trailer;

Lift kept--trailered out of area during named storms:
$948 a year.