Carver Yacht Boat Insurance

[Serendipity]

Bud37
And everyone
I noticed on your ytd cost estimate on boat expenditures you had $451 down for insurance for a year. HOW?

I own a captive insurance agency, captive meaning one of the major companies and independent meaning all the small companies and the online internet companies.

So as an agency owner I got quotes from $300 a month.
$3600 a year from a major player for $300,000 in liability coverage to $137 a month for a $500,000 in liability coverage. Big difference compared to your $451 a year you mentioned.
Naturally, I choose the latter and one other small bit of info I learned.
Our options are for stated replacement cost value or actual cash value on the hull. It was almost a $1000 difference between the two options.
However, my requested stated price was the same as there determined ACV. So why pay more for the same amount when I am going to work the claims adjuster in either situation. Naturally I will keep checking the values yearly because of my career.

I am not endorsing anyone by any means as I just took this insurance out, but I went with Boats US underwritten by Geico. Still I am at $1600-$1700 yearly on a landlocked lake for a 98 405.

Just wondering what everyone is paying because we are all here trying to save each other money and time.

Thanks to everyone for your responses

[g36]

You can beat boatus easily. I have a 405 on the tennessee river and use markel insurance. I pay about 1/2 what you posted. I shop around various companies when nearing renewal but have had them for 4 years now. I'm sure you'll get plenty of opinions.

[bud37]

Serendipity......I was quoting Rick there ,somehow it came out looking wrong and I couldn't fix it..... those are his costs.....mine are much higher than that. ( i only wish those were my costs. ).......somewhere in the range of 900.00 Canadian for the boat insurance and it has just gone up.........

[Serendipity]

Thanks G36 and Bud37 I only shopped 2 companies as my company would not even quote it.

Looks like we need to check out Markel in the near future. I just needed something for the marina where it is at now and my marina when I get it here.
Hopefully I will be going to get it next week, fingers crossed.
Trying to find someone with a truck and trailer to haul this boat has been a nightmare to say the least.

[SanJuanDreamer]

I was paying 680yr with agreed value through Anchor Marine underwriters.
I was going through Chubb, who treated me good when needed.

[pepmyster]

720$ a year for me. Ottawa area and in the Thousand Islands.

[daveS]

$400 a year for a 1999 mariner through MD insurance

[bud37]

Source of the post $400 a year for a 1999 mariner through MD insurance

Now that is just hurtful......

[waybomb]

Have to look at what's covered to determine if the price is good.
Mine all have 2,000,000 environmental, 2,000,000 general liability, and the two big ones are agreed value. Also what personal non-vessel is covered.
And then where the boat is covered and for what period in the water and on land.
And coverage when it's stored.
Is mechanical included?
And then all the mumbo-jumbo dispersed in a sneeky way through the documents!

[Kendaukcat]

I have a 98 405 as well. I have Progressive and pay almost $1900 a year. I am on the Ohio RIver.

I did not shop around at the time of purchase...beginning of June. We are moving to the Keys in about a month, so I am going to need to revisit soon.

Anyone have any recommendations for the hurricane zone?