Insurance

Newsgroups Archive Prior to 2025
1

I know there has been some discussion of insurance in the past. I just thought some may be interested in what happened to my premium for 2024.

I got an email from Progressive saying that they were giving me a discount of $1,173.00. So my premium will be only $298.25 next year. I assumed it was spam at first, but ran it by my agent and sure enough, it’s correct. And no changes were made to my policy.

I have no idea what prompted this, but I’m not complaining.
– Brian Godfrey

2

Knowing what size boat you have and where it is probably effects the premiums also.
Joe Valinoti
S/V iL Gatto NS30U #221
Sea Harbour YC
Oriental, NC USA

3

Brian,
I am envious. My insurance company gave me a reverse discount. Lucky me. I am paying much more for my 26 than you’re for your 33.
Mark Powers

4

I’m sorry about your increase. I didn’t post that to be bragging. I really don’t understand why they lowered it so much. I just wanted to give a heads up in case it can benefit someone else, somehow.

5

I got an email from Progressive saying that they were giving me a discount of $1,173.00.

Brian
I would not look a gift-horse in the mouth so to speak

Brian
Spirit~Wind
N30U 419
Deep River, CT

6

Don’t be sorry about my increase. Happy for you. Don’t share the news too widely. You don’t want your insurer re-thinking the matter.
Mark Powers

7

My insurance company, ‘New Hampshire Insurance’, is asking for a survey. Although having one initially is not unusual, how often do your insurance companies ask for a new survey by a NAMS or SAMS surveyor? The cost is $600+ which is an incentive to change companies unless this is a standard procedure.

Any thoughts or experiences ?

Jim Falcon
Ballybay N30U # 357
Warren, RI

8

I’m with BoatUS/Geico. Never in twenty years of renewals and two vessels:

  • 1989 NS 30 Ultra purchased in 2005 and sold in 2012
    I can’t remember if they needed one in 2005 when I purchased the 30U
  • my current 1995 NS 354 purchased in 2012.
    I had a surveyor look it over but no formal survey or haulout was requested as I was an existing customer. Everyone else demanded one, so I stayed with BoatUS and am glad I did.

Michael Jabara
Hobbes II 1995 NS 354
San Rafael, California

9

Living in the USA, I’ve had Allstate since back in the 70s on various boats. They’ve never asked for a survey and promptly pay any claims without asking too may questions. In addition, there are no restrictions on my cruising grounds which includes the east coast and the offshore islands. It currently costs under $600 for actual cash value.

Joe Valinoti
S/V iL Gatto NS30U #221
Sea Harbour YC
Oriental, NC USA

10

In Canada, my insurance company was Skipper’s Plan. They are quite popular, at least around the Toronto area. They covered me from 2012 and, in 2019, they “warned” me that, next year, I’d need a brief insurance survey to get coverage.

Next year, along came COVID. The only good thing about COVID was that it precluded an in-person survey. They simply asked for 8 - 10 photos and, I think, have made that a permanent policy change.

Ernie A. in Toronto

11

I am with Beacon and they want a survey every 5 years. Every second survey is to be out of the water.
Mark Powers

12

I am confused by all this surveying in Canada, they never inspect cars or houses… weird. I suspect it’s the "full employment survey act’ at work

I use Boat US. $400 a year on my 26, no survey. I signed on when I was living in the US and the boat was in Canada. No Canadian insurer would touch it. Boat US did seem to mind. When we moved to Canada they were fine with that too…