We have been getting turned down on our 1988 Nonsuch 30 Ultra by insurers,. including Chubb who have carried our 1979 boat for years.
Anyone have a suggestion, other than going to the “excess” market at probably a high premium?
David Watson
S/Y Tajar
Harlem YC (NYC)
Stamford, CT
State farm..
There doesn’t seem to be anything consistent about who’s willing to cover which boats in what location. I suspect it has more to do with what their losses have been recently than the specifics of anyone’s particular boat.
For the last few, I’ve been with Merkel and my prices have been very reasonable. Meanwhile, my friend with a N36 docked 20 miles south, a few years older than mine but in like-new condition got dropped by them just a few months before I was renewed late last year.
If you don’t already have one, consider finding a good insurance broker and putting the burden on them to find you a good policy.
I’ve been with Jack Martin & Associates (https://jackmartin.com/) for twenty years and four different boats, and they’ve so far been pretty good about finding a good policy with different insurers as needed. And switching when one offers a better deal. So far, I’ve never needed to look for myself.
On the other hand, I’ve never had a problem that required using my insurance, so I can’t provide any info on how my broker and insurance company will perform if/when something goes wrong.
– Bob
Me Gusta
Nonsuch e26U #233
Progressive insured our boat in Maine before we brought it to Canada.
Here we got a great rate from WC Bauld insurance in Bedford Nova Scotia
J Jenkins
Captain Haddock of LYC
Lunenburg
Nonsuch 36, #4
I received ins. from Progressive on-line without any survey or significant questions. FWIW
Murf Hudson
To Your Shore #472 NS 30u
Rockport, TX
David,
What do you consider a high premium? I paid over $1000 with Progressive but ours is a 1987.
Brian Cayer
Spirit~Wind
N30U 419
Deep River, CT
“If you don’t already have one, consider finding a good insurance broker and putting the burden on them to find you a good policy.”
YES!
Boat US
I had boat US just changed them. They were great until about 3 or 4 years ago. Guess they are trying to cover losses for the southeast. Last 4 years policy went up $300 a year and value of boat went down $3000 per year. Got to the point they wanted $1800 and said boat was worth $39000. I called and they said they would only adjust the value with a survey. Got the survey, then they said they would not accept the value. When I pointed out the email where they recommended this surveyor I got bounced around for a while and then they finally agreed to accept the value. Next week I got a new bill for $2200. Had no claims with them in 15 years!!! Also be very careful with the pro-ratings in your policy. Sails are now 4 years after that you get nothing.Also changed pro-ratings and coverage rules for electronics. I ended up with New Jersey Manufacturers. Half the price and better coverage. I got to reuse my Boat US survey.
Peter Farley
Knot in a hurry u #328
Keyport NJ
In regards to insurance, always make sure there are no or minimal cruising area restrictions. You don’t want to find out that you’re not covered after an incident if you leave your home area.
Joe Valinoti
S/V iL Gatto NS30U #221
Sea Harbour YC
Oriental, NC USA