Anyone know of a good insurance company for Gradys? I am a new owner of a 2007 360 express and need to insure.. Thanks
Insurance
- Thread starter Bert
- Start date
The brand of boat doesn't matter.
Just like with a car or your house, shop around. Did you have a boat before? Try the company you used with that boat. NBOA, BoatUS, GEICO are some reputable marine insurance companies. Although I prefer having my boat on a separate policy, you can also check with your auto/home insurance company.
Just like with a car or your house, shop around. Did you have a boat before? Try the company you used with that boat. NBOA, BoatUS, GEICO are some reputable marine insurance companies. Although I prefer having my boat on a separate policy, you can also check with your auto/home insurance company.
I have my Marlin 300 insured by United Marine Underwriters. It was by far the best coverage and cost.
Angler Management
GreatGrady Captain
My 1999 Bayliner 3988 burned to the waterline in a boathouse fire in which two liveaboards on an adjacent boat died. All parties finally reached settlement last week, 4 years and 3 weeks after the tragedy.
Travelers was my insurance company and was very timely and always had my back. In the total loss they waived any deductable, paid me on time for the loss, and defended me to the tune of $600,000 in attorney fees to reach settlement. Other than time wasted in depositions, it didn't cost me a cent. I couldn't recommend them more highly.
They do, however, have a two year period after claim settlement where they will not insure another boat. After consulting my broker, I now have my Grady insured with CHUBB and am happy with the policy limits and coverages.
Please take boat insurance seriously. It is NOT about the price, it is about the HOLES in coverage. My Travelers policy was actually less expensive than the previous USAA/Progressive policy I switched from, that had many potential exclusions and loopholes that would have left me potentially exposed. For example, the Feds now pick up any environmental damage past $850,000, yet most policies still have a $300-$500,000 limit, leaving a "gap" for you to fill in by writing a six figure check. Rodent damage is another loophole.
Consider putting all your policies under an umbrella also. Mine wasn't touched, but I slept as good as I could have knowing I was well insured.
Travelers was my insurance company and was very timely and always had my back. In the total loss they waived any deductable, paid me on time for the loss, and defended me to the tune of $600,000 in attorney fees to reach settlement. Other than time wasted in depositions, it didn't cost me a cent. I couldn't recommend them more highly.
They do, however, have a two year period after claim settlement where they will not insure another boat. After consulting my broker, I now have my Grady insured with CHUBB and am happy with the policy limits and coverages.
Please take boat insurance seriously. It is NOT about the price, it is about the HOLES in coverage. My Travelers policy was actually less expensive than the previous USAA/Progressive policy I switched from, that had many potential exclusions and loopholes that would have left me potentially exposed. For example, the Feds now pick up any environmental damage past $850,000, yet most policies still have a $300-$500,000 limit, leaving a "gap" for you to fill in by writing a six figure check. Rodent damage is another loophole.
Consider putting all your policies under an umbrella also. Mine wasn't touched, but I slept as good as I could have knowing I was well insured.