- Joined
- Aug 29, 2012
- Messages
- 2,680
- Location
- Good Ol' US of A!
- Vessel Name
- Pau Hana
- Vessel Make
- 1989 PT52 Overseas Yachtfisher
Indeed!
Insurance Sticker Shock
- Thread starter Sidclark
- Start date
The friendliest place on the web for anyone who enjoys boating.
If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
Indeed!
jgrossenbacher
Newbie
Your Lagoon was in low rated Chesapeake Bay and a sailboat; trawler is coastal, and a powerboat, and (likely) older. In addition many competitive yacht markets (particularly in London) have gone out of business over the last 12-18 months, allowing those remaining to increase rates - it is after all based on supply and demand. Thx
Wayne
Veteran Member
'Lo All,
We lost the Celestial during Hurricane Michael. We had BoatUS (Geico) insurance. We called the claim number at BoatUS and within less than a week an adjuster showed up. His first questions were about how the boat was tied up during the storm. We showed him where the three, now missing, 50' pilings that the boat pulled out had been. After looking at the boat, he immediately declared it a total constructive loss @ the agreed value on the insurance policy. Later (one or two weeks - I forget), BoatUS called and asked how we wanted the funds. Money was in our credit union account the next day.
We are very satisfied with the claim service provided by BoatUS. We still have our 17.5' runabout that is insured by BoatUS. It was on its trailer and was only minimally damaged by the storm, hence no claim in it.
We lost the Celestial during Hurricane Michael. We had BoatUS (Geico) insurance. We called the claim number at BoatUS and within less than a week an adjuster showed up. His first questions were about how the boat was tied up during the storm. We showed him where the three, now missing, 50' pilings that the boat pulled out had been. After looking at the boat, he immediately declared it a total constructive loss @ the agreed value on the insurance policy. Later (one or two weeks - I forget), BoatUS called and asked how we wanted the funds. Money was in our credit union account the next day.
We are very satisfied with the claim service provided by BoatUS. We still have our 17.5' runabout that is insured by BoatUS. It was on its trailer and was only minimally damaged by the storm, hence no claim in it.
Rosborough 35
Member
- Joined
- Jun 1, 2013
- Messages
- 18
- Location
- USA
- Vessel Name
- Dream Catcher
- Vessel Make
- 1995 Rosborough RF35 Atlantic Trawler
Good experience with Boat US-GEICO Marine Insurance Program
I have Dream Catcher insured for an agreed-on value of $86,000. I've had the policy with Boat US-GEICO since 2013. The initial premium in 2013 was $2,467, with a 5% deductible. That was with $300,000 liability and $900,000 + for fuel spill, and $300,000 uninsured boater coverage.
We have never filed a claim in the 7 years that we have owned Dream Catcher. Because of no claims, they have reduced the premium and also reduced the deductible each year. My current premium is $1,731 and the deductible for other than a named storm is $0. With a named storm in any of the hurricane prone states, the deductible is 5% of the agreed-on value.
In 2008, we had a Bristol 40 sailboat that went through Hurricane Ike in Galveston. It was also insured through Boat US (this was before they partnered with GEICO). The boat made it through the hurricane with minimal damage, even though one of our dock's pilings pulled out, but our dinghy was nowhere to be found. Because we lost our dinghy, the total claim was significantly more than the 5% named storm deductible. We filed a claim with Boat US and they had an adjuster on site in a few days and they sent us a check in less than 2 weeks. I would rate their service as excellent.
I have Dream Catcher insured for an agreed-on value of $86,000. I've had the policy with Boat US-GEICO since 2013. The initial premium in 2013 was $2,467, with a 5% deductible. That was with $300,000 liability and $900,000 + for fuel spill, and $300,000 uninsured boater coverage.
We have never filed a claim in the 7 years that we have owned Dream Catcher. Because of no claims, they have reduced the premium and also reduced the deductible each year. My current premium is $1,731 and the deductible for other than a named storm is $0. With a named storm in any of the hurricane prone states, the deductible is 5% of the agreed-on value.
In 2008, we had a Bristol 40 sailboat that went through Hurricane Ike in Galveston. It was also insured through Boat US (this was before they partnered with GEICO). The boat made it through the hurricane with minimal damage, even though one of our dock's pilings pulled out, but our dinghy was nowhere to be found. Because we lost our dinghy, the total claim was significantly more than the 5% named storm deductible. We filed a claim with Boat US and they had an adjuster on site in a few days and they sent us a check in less than 2 weeks. I would rate their service as excellent.
