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Old 05-15-2014, 05:59 PM   #21
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Some of y'all are wound a bit too tight and take every comment way to serious. Have you ever watched the Progressive commercial about saving through bundling? Of course the insurance needs to fit each individual's needs, that goes without saying. My point was check with your current carrier to see if he/she can meet your needs. If seems in the boat world everybody thinks you have to have everything boat, otherwise your an idiot and are doomed. Boat chairs, boat shoes, boat glasses, boat this and boat that. Shop around, you may find what you need without the "boat" that will work just as well at a much lower price. My insurance works for me. I don't have a $250,000 or more yacht that needs the type of coverage some of you need, but a lot of trawler owners here are in the under the $100,000 price point and boat insurance is just fine. I have dealt with my company for years and have had two claims on a previous vessel and a home claim. I have always had good service. When I was getting quotes on my current boat the ranged from $700-$6000 for the same coverage and some with lesser coverage on the high end. Do your homework and research, shop around and get what makes you feel comfortable.
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Old 05-15-2014, 06:09 PM   #22
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Originally Posted by windmill29130 View Post
Some of y'all are wound a bit too tight and take every comment way to serious. Have you ever watched the Progressive commercial about saving through bundling? Of course the insurance needs to fit each individual's needs, that goes without saying. My point was check with your current carrier to see if he/she can meet your needs. If seems in the boat world everybody thinks you have to have everything boat, otherwise your an idiot and are doomed. Boat chairs, boat shoes, boat glasses, boat this and boat that. Shop around, you may find what you need without the "boat" that will work just as well at a much lower price. My insurance works for me. I don't have a $250,000 or more yacht that needs the type of coverage some of you need, but a lot of trawler owners here are in the under the $100,000 price point and boat insurance is just fine. I have dealt with my company for years and have had two claims on a previous vessel and a home claim. I have always had good service. When I was getting quotes on my current boat the ranged from $700-$6000 for the same coverage and some with lesser coverage on the high end. Do your homework and research, shop around and get what makes you feel comfortable.
Not too tightly wound, just have read the policies in detail of several carriers. And you're right on normal collision type damage. But the other things I've seen concerned me and many owners did not realize the exceptions and omissions. A lot of people, not saying you, check with current insurer, are told yes and quoted a good price, never examine the policy. That's a mistake whoever is insuring you. Also a mistake on cars and houses. Had a neighbor who sent his 23 year old granddaughter to get him some medicine at the pharmacy, she was run into by an uninsured motorist. Insurer said, "Your policy excludes driver under 25."

If one has reviewed the policy, likes the coverage and price, then no reason to go anywhere else. In my case I had to for boat, house and umbrella. The only thing I have left with State Farm is Auto. State Farm and Allstate do not want to insure homes in my area. They don't want to insure businesses East of I-95 either. They will, but they price to not get the business.
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Old 05-15-2014, 06:14 PM   #23
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You might want to consider changing insurance companies. I prefer to deal with one company having all my policies, that way they are less likely to drop you after a claim.
What you say is true, however, the OP has a Krogen 42 with the possibility of taking it offshore. I have lived with this specific insurance question for 15 years, and at least in three states, Illinois, Michigan, and Indiana I have never found a mainstream / middle market insurance company that will insure both your home and your Krogen 42 offshore. I can only find a couple which will extend my umbrella protection to my Krogen 42. Chub might be able to put it together but the premium for an average guy's home and auto might be higher than he wishes to pay.

I am avoiding the issue of the difference in actual coverage for boat insurance by a mainsteam company and a marine specialty operation. Having read more than a few policies this also can be an important issue.
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Old 05-15-2014, 06:44 PM   #24
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Originally Posted by windmill29130 View Post
Some of y'all are wound a bit too tight and take every comment way to serious. Have you ever watched the Progressive commercial about saving through bundling? Of course the insurance needs to fit each individual's needs, that goes without saying. My point was check with your current carrier to see if he/she can meet your needs. If seems in the boat world everybody thinks you have to have everything boat, otherwise your an idiot and are doomed. Boat chairs, boat shoes, boat glasses, boat this and boat that. Shop around, you may find what you need without the "boat" that will work just as well at a much lower price. My insurance works for me. I don't have a $250,000 or more yacht that needs the type of coverage some of you need, but a lot of trawler owners here are in the under the $100,000 price point and boat insurance is just fine. I have dealt with my company for years and have had two claims on a previous vessel and a home claim. I have always had good service. When I was getting quotes on my current boat the ranged from $700-$6000 for the same coverage and some with lesser coverage on the high end. Do your homework and research, shop around and get what makes you feel comfortable.
Appreciate your take on things- here's mine (from the professional viewpoint of one who has written hundreds of policies and seen plenty of claims):

Marine insurance falls under admiralty law, not standard property/casualty law. There are significant differences between the two; ignore this at your peril, as the differences could bankrupt you should a major loss occur.

With regards to Progressive- I must say, they're about the worst example you could cite. The agents are trained to push for a sale, with little or no regard for how the policy benefits the client. Their advertising blitz of "Name Your Own Price" is, in my opinion, evil incarnate. Unsuspecting Joe states a price he's willing to pay, and Progressive writes an empty shell policy and collects the premium.

If/when a loss occurs, the client is left holding the bag, because the policy has little to no coverage. To add to this, Progressive agents won't take the time to explain the coverage the client is getting (or not getting).

It's good the hear that your claims were handled to your satisfaction. Satisfaction is relative.

Bundling is a sales tactic to capture more business for a given company- nothing more.

You don't have to have everything "boat". But, in my professional opinion, one may be a fool if they have a boat policy on anything other than a garage kept runabout.

As far as being wound up- not at all. There is plenty of information available online, and not all of it is sound. As owners of larger boats, it's prudent to err on the side of caution and not reach for the cheap seat (insurance wise) because, like things labeled "boat", marine claims can get very expensive very quickly, and you don't want to be insured with an inferior policy should that situation occur.
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Old 05-15-2014, 07:48 PM   #25
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For example, I was having difficulty with a surveyor who was on a personal crusade to require all bronze ball valves be replaced with plastic (Marelon I believe). One call to Boat US, they called the surveyor and he unhappily struck the recommendation from his survey.


Agreed! Except for the part about the insuring company calling the surveyor; the recommendation for the Marelon valves is just that- a recommendation. ABYC has no specific as to what material is required, so the insuring company can just fall back on ABYC and call that a recommendation vice a requirement.
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I should have put the full explanation in the post. . My fault!!

You are correct. . . Boat US had no problem with the survey. They would have ignored his recommendation since they know the ABYC standard.

The rest of the story. . . I was refinancing my boat loan and the bank read the survey and took the position that if the surveyor recommended it. . . it should be done!! The surveyor was a real as#@%$ and refused to remove the comment and I needed the survey for both the bank and insurance. I explained the situation to the Boat US Rep and he was kind enough to call the surveyor and straighten it out. Recommendation was removed!!
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Old 05-15-2014, 07:58 PM   #26
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Roger that-I've had to intervene a time or 2 in similar situations....
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