Boat Insurance

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woodduck

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Joined
Jan 22, 2005
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C Dory Year
2004
C Dory Model
25 Cruise Ship
Hull Identification Number
CDO25081D404
Vessel Name
C Dory
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
 
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
 
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 :thup
 
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.
 
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
 
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.
 
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.
 
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":2bctow4b said:
CD-22 - $157 USAA
Camano 31. - $590. Ace
Click to expand...

Real curious, is that $157 annual and is it for a full replacement? :?: That sure lookd good.

Mine is with Farmers (and the policy is Formost) for about $300 year.

Harvey
SleepyC :moon
 
Chuckpacific":9m6z5sxg said:
CD-22 - $157 USAA
Camano 31. - $590. Ace
Click to expand...

I think USAA no longer does new marine policies but sends their clients to Progressive. Doug, retired Air Force
 
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.
 
USAA sent me to Progressive for my big boat policy....their estimate was $1660.

Both price quotes (USAA and Ace) were for one year.
 
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.
 
Most boat insurance policies offer what is called "Lay Up" insurance. You don't need to cancel any coverages, you simply get a credit for the time you are not using the boat. There are different time amounts as in " I dont't use it for 3 months or six months" I am sure Safeco offers that type of coverage. Call your agent, you should get a good answer about "Lay Up " Insurance.

Here's why you need boat insurance, this guy at the Yacht club bought his boat for $25,000 , and he insured it for that amount but his replacement / repair amount far exceeded $25,000. I shot these video's in this spring 2012.

http://www.youtube.com/watch?v=S_76P3TN1Qw

This fire was caused by a defective refer wire onboard the first boat.
There is second video *( Part 2 ) that shows how ineffective the Mission Bay Lifeguard fire boat was. I sent these video's to every member of the San Diego City Council, the Mayor, and the San Diego Lifeguard Department...they just appropriated money for a new ire Boat.
 
Chuck, Thanks, I'm probably going to do the same this fall. Soon.

Harvey
SleepyC :moon
 
Some talk in another thread about boat insurance referenced this thread, and after reviewing it, just wanted to add my two cents. USAA screwed me over (along with an engineering firm involved in my case) and because of that I found American Family, headquartered nearby in Madison, WI, was a better bargain. (Long story about USAA, but short of it was they refused to pay out on a ceiling collapse, and then went on to refuse payment to an engineering firm they hired to investigate the incident. Initially USAA was more interested in getting square footage measurements of the house rather than damage information. They hired a third party examiner that came out and basically did nothing, but then they accused the engineer of doing nothing, when he is the on that did the investigation and provided them with a report. Most of USAA's work is with third parties. I will never have anything to do with USAA again, and suggest anyone else forget about using them, or at the very least compare rates with other insurers. FWIW, my issue with them happened a year or so after they had to make some huge hurricane payouts and with a change of CEO's, so perhaps they were just denying claims to save themselves money...) Colby
 
Its always good idea to overshoot the price of damage you think should be enough. The cost of any accident can rise very fast. If you sink your ship and create an oil spill on top of that, you are in deep trouble. By the way, do you think someone would insurance this thing? Just wondering. :D
 
i just went through this my company the hartford was $479 the former owner was with ussa $200 ussa will not take you unless you have a military connection so I tried liberty mutual...to much and finally progressive ..I got way better coverage including tow in on the water etc trip interuption etc for the value I stated in this case $25k for my 22 cruiser and trailer for $279...I am very happy with this deal so far!!!
 
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