Boat Insurance

[Surely Bassey]

Other than GEICO (and I am not a fan) can anyone suggest good insurance for a 23 foot Grady used summer months in CT?

 

[seasick]

I have Progressive and had one claim after Sandy and that claim was handled fast and satisfactorily. I will say that the cost of insurance has increased just about every year. The more damaging storms the country has, the more the rates rise.
You mention 'summer months' usage and I suppose you want to know if that makes a difference in rates. I don't think so and you wouldn't want to have insurance only during the boating season. In the off season, there may be just as much risk as during the summer. Sandy occurred in my of season and the boat was on land.

 

[Legend]

My insurance covers the boat in the water from May-October and November-April on the hard. Travelers Insurance

 

[DennisG01]

Being a "Gulfstream" is not really an important factor. However, the year of the boat could very well be. Geico might be your best choice if the boat is older - some companies won't insure older boats or the rate will be excessive. NBOA is another good company to look at.

 

[g0tagrip]

I have Allstate, they beat Geico.

 

[Fishtales]

I use Markel.

 

[Andrew93]

I had Boat US before GEICO bought them. Never had a claim and after 7 years or so the rate went though the roof, 20-30% increase in 1 year if I remember right. Switched to Progressive, rates were more in line to what I was perviously paying with Boat US. They have the "Sign and Glide" towing insurance, I have not needed it but they said there were no catches.

 

[G2man]

Other than GEICO (and I am not a fan) can anyone suggest good insurance for a 23 foot Grady used summer months in CT?

Sea insure they are part of sea tow and they are from Connecticut

 

[Fishtales]

You really should look into an Agreed Value policy. This way you know what you will get in the event of a total loss.

 

[Surely Bassey]

I have agreed value which this year they lowered by 20% and raised the rate as well....

 

[Fishtales]

Yea, goes with the insurance game. But at least you know what you will get. Without it, you would get nickeled and dimed to death if you had a loss. That adds insult to injury.

 

[Blaugrana]

I have agreed value which this year they lowered by 20% and raised the rate as well....

Interesting.

I am in my 2nd year with Geico and they have raised the agreed value amount based on my request the first time. The 2nd time required pics and I am now trying for a 3rd time with my recent electronics updates.

When I renewed in October, they actually decreased my rate by about 20% or so. Let’s see what happens this year

 

[Lisa21]

We have progressive. Great insurance and reasonable price.

 

[Holokai]

Went with Progressive last year after getting a quote from Geico/BoatUS. Rates went up about 20% this year but I have an agreed value policy so not sure if that factors into it. Checked with State Farm as well and their quote came in even higher than Progressive.

 

[max366]

Check into Gallagher Charter Lakes. They'll shop around for you and find the best policy that meets the requirements you tell them you want - at rates lower than you'll be able to find on your own. I saved about 20% from Sea Insure, got a longer season, hurricane haulout, and mechanical breakdown included.

 

[PointedRose]

Insurance is cheap enough regardless, I mean saving 10%-20% to shop around might be worth it on an expensive boat, but for me it’s like $30-50, which is far from the expensive aspects of a boat. I just like that Geico has the BoatUS and towboat affiliation. Can always try to pull a lever to save but probably want to have more coverage than you think you might need.

 

[Pat Hurley]

Other than GEICO (and I am not a fan) can anyone suggest good insurance for a 23 foot Grady used summer months in CT?

I write for some of the insurers listed in this thread. Some factors used in underwriting a boat policy include but are not limited to the following... age of the boat, listed users, navigational waters, experience and your credit score. Travelers and Progressive each have a decent product and so does Nationwide. They all underwrite other lines IE. home and auto and afford some discount if you combine. And they offer replacement cost, agreed value and ACV policies depending on age of your boat. One caveat with Nationwide is they don’t have a scheduled lay up period like some others do and no geographical limitations as long as you use the boat in US or Canadian waters as long as you don’t travel more than 75 nautical miles from the shoreline...Additionally you can use the boat 12 months out of the year.

 

[Byram]

Im in southern Ct. I have Allstate on 3 boats. I did question my agent about some obscure small monthly fee and he said if I run out of gas the policy will pay for someone to come out to me with fuel...whoo hoo !! If you run out of fuel you shouldnt be boating.

 

[seasick]

Boat US and the like will do that also as part of their on water towing packages.
From way way back and not for a boat, I have bad memories of Allstate and swore I would never use them again Maybe they are good but all it takes for me is one bad experience.

 

[Hookup1]

BostUS is GIECO - love it or hate it. Many of my small boat friends use them and are happy.

In November I shopped my old policy that Smith-Merrit had me in with Chubb. My problem was a hard layup period that charged me extra to take the boat South in the winter. BoatUS assumes a layup based on your location but allows you to still use you boat in the winter to travel and use it.

I switched to State Farm this year. They have my auto and home policies. They matched BoatUS. No hard layup. In addition I have a SeaTow membership with trailer coverage. I may try to consolidate next year to see if this combo or a full BoatUS plan would be less expensive.