Lots of good advice here (except for going thru another broker
Lots of variables come into play regarding how a premium is calculated:
- Vessel year, make, and construction
- Vessel value
- Vessel usage (private pleasure/liveaboard/limited charter)
- Fuel type
- navigation area
- where the boat is moored (x2 if your navigation area is in Hurricane Alley)
- Vessel experience (ownership and operational)- what vessels have been owned/operated and for how long
- Credit history
- Marine loss history
- The risk appetite of an insurer
Each company has its own underwriting criteria, so your quotes can vary widely.
BoatUS may not have an insurance survey requirement; I would be suspect as to how their policy reads with regards to partial and total loss situations. The agreed value/all risk companies we represent require a survey about every 5 years.
Our boat is $1300/year in Puget Sound waters; changing the navigation to Florida/Gulf full time changes the coverage to about $3k/year!