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Old 08-26-2012, 05:49 PM   #1
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Boat Insurance in Florida

My boat insurance is due for renewal in a month. Can anyone recommend a quality insurance company that insures in Florida for a reasonable premium? I am currently insured by Sea Wave Yacht Insurance which is underwritten by Lloyds of London. I'm paying $2,625 a year for a 1985 43' Californian.

Boat/US requires a hurricane plan that places the boat on land, secured by straps tied to ground stakes. That's not going to happen with me.

Am I dreaming? Any ideas?

Karl
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Old 08-26-2012, 06:23 PM   #2
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Originally Posted by Karl-FL View Post
My boat insurance is due for renewal in a month. Can anyone recommend a quality insurance company that insures in Florida for a reasonable premium? I am currently insured by Sea Wave Yacht Insurance which is underwritten by Lloyds of London. I'm paying $2,625 a year for a 1985 43' Californian.

Boat/US requires a hurricane plan that places the boat on land, secured by straps tied to ground stakes. That's not going to happen with me.

Am I dreaming? Any ideas?

Karl
Seems to me that you have a pretty good deal for a hurricane zone. My boat is out of the water ahead of Isaac now, but I don't know of a yard with the capability of strapping boats down. There is one that I have heard of Oasis Boat Yard in St. Augustine. Anyone know of others?
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Old 08-26-2012, 09:46 PM   #3
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Try Merkel. I accepted their clause saying no coverage for named storms. I bought a reserved haul out and block plan to cover named storms if I didn't want to try running from the storm. 1983 Califronian 34LRC with $40,000 coverage. Around 900 dollars. I used the other 1000 to buy the haul out and block. The yard has high ground and survived Ivan with its 12 foot surge in 2004. I didn't want to pay $2000 with Boat US and still not have storm coverage unless I hauled out.
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Old 08-26-2012, 09:54 PM   #4
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Mine's with Markel via Al Golden at IMIS. I gave up named storm coverage which saved me around $900/year, because I'm in a well protected marina with floating piers. No damage at all during Ike. IMIS can give you good quotes and information from various companies, since they are independent. IMIS Home Page ~ International Marine Insurance Services
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Old 08-27-2012, 02:47 AM   #5
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Suprizingly Boat/US was the cheapest. I had progressive through USAA for my last boat but they would not take new policys. I am paying about 2900 for my 48 Californian. The one thing I do like is Boat/US knows boats be careful with other companies they really don't understand.
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Old 08-27-2012, 06:01 AM   #6
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Self insure the "named storm " part and rent a space you hope never to need.

Prepare to run early , either you spend time or money.

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Old 08-27-2012, 07:58 AM   #7
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Try Mariners General. Yacht Insurance, Home, Auto, Commercial Insurance | Mariners Insurance They are based in CA and have an office in FL. Our annual premium is about 1.5% of the hull value and we're insured for FL. We did have to submit a hurricane plan and it does not require us too haul. We looked at Lloyd's last year but the coverage was not as good. We do have a high deductible for wind damage from a named storm though: 10%. We have a $250 deductible on our electronics. The policy is agreed value.
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Old 08-27-2012, 07:58 AM   #8
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$2,600 dollars is a bargain in Florida. Another yard that does tie down boats is Tiger Point in Fernandina Beach. They also have special cradles that [lace boats in rather than using jack stands.
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Old 09-03-2012, 11:45 AM   #9
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We live in southwest Florida and insure with Boat/US. We pay $2,520 per year which includes the Bahamas to Turk Island. Unless we're cruising, we keep Amapola at our home dock. We are not required to leave the area or dry dock during hurricane season.
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Old 09-03-2012, 12:09 PM   #10
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I have the same as Fighterpilot only I Do have named storm coverage. I am required to haulout at my marina and required to haulout. I could get an endorsement allowing me to cruise and haulout at any marina from Texas to Key West.
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Old 09-03-2012, 05:38 PM   #11
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Blue Heron--does your marina guarantee you a haul out. Also, is the haul out just the standard haul out cost and the normal cost for being on the hard each day? Did your insurance company reduce the premium becasue you will be hauled out? What marina are you using? FP
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Old 09-03-2012, 09:49 PM   #12
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Yes my marina reserves haul out space. I'm at Bahia Mar. The premium is reduced due to the hurricane plan.
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Old 09-03-2012, 09:50 PM   #13
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Haulout is only for named storm and cost is haulout and cost per day for 6 days.
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Old 09-03-2012, 10:06 PM   #14
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We live in southwest Florida and insure with Boat/US. We pay $2,520 per year which includes the Bahamas to Turk Island. Unless we're cruising, we keep Amapola at our home dock. We are not required to leave the area or dry dock during hurricane season.
Where in SW FL? I live out of state, and cannot tend the boat. I have a licensed captain move it for haul out. I wasn't required to haul out, but just feel more comfortable with the boat out of the water. I am required to have a hurricane plan.

One of the safest places for a boat is in a canal behind a home. That is as long as the boat is not up on a lift. You can secure a boat several different ways in that situation. We kept boats in the Venice and Boca Grande areas for three hurricane seasons, but always out of the water in a building. Two of those in the huge dry storage building at Gasparilla Marina.

Usually when a hurricane comes ashore in that area it is not pushing a huge storm surge. Charlie was devistating, but most of the damage done was by wind. It did get across Little Captiva I think.
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Old 09-04-2012, 05:42 AM   #15
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I wasn't required to haul out, but just feel more comfortable with the boat out of the water.

OUT sounds good , but in FL most marinas go under if the storm surge is large.
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Old 09-04-2012, 08:06 AM   #16
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BH--besides the haul out and daily fee is there a fixed fee to reserve a space for named storm haulouts? Do you have to reserve ahead of time or do they have enough room to take all that apply, even a few days before projected landfall. My reserved spot costs about $500 per year. Than the haul out and daily hill rate is applied. FP
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Old 09-04-2012, 10:06 AM   #17
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Cost is 500.00 to reserve the space in the yard for named storms and it is per year. I had to be signed up by 1 June then the rates went up for folks. We reserved ahead of time. I think it cost 900.00 for one guy that didnt have a reservation this last storm and they ran out of space. Same deal for me, the Haulout and daily rate are applied separate. 300 and 120.00 repsectively
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Old 09-04-2012, 06:55 PM   #18
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Try Scott Stamper at Atlas Ins. 954 525 0582. We were told that Lloyds of London would be a last choice if we could'nt get quality insurance. Larry/ "Footloose"
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Old 09-05-2012, 06:27 AM   #19
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Marine Industries

Here is a commercial operator, 1/4 mile away, that is using the location to offer inside , climate controlled and outside storage.

With locks in the way , multi foot storm surge is no hassle.

A dock behind a home is about $1000 for the hurricane season, battery maint. electric provided.
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