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Old 06-15-2019, 05:38 PM   #1
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Liability only for insurance

Hi folks,
I am looking for liability only insurance coverage. Has anybody gone that route and if so what company?
Thanks in advance
Bud
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Old 06-15-2019, 08:03 PM   #2
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Hi folks,
I am looking for liability only insurance coverage. Has anybody gone that route and if so what company?
Thanks in advance
Bud
Seatow and BoatUS both offer liability policies. They also cover oil spills. I have a slow trawler so I self insure hull. I close my seacocks when docked :-)
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Old 06-15-2019, 08:13 PM   #3
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I have liability only insurance with Progressive. It includes towing.
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Old 06-15-2019, 08:33 PM   #4
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Just make sure the liability includes oil spill remediation and salvage...unless you self insure for potentially tens of thousands in costs.
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Old 06-16-2019, 01:14 AM   #5
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Just make sure the liability includes oil spill remediation and salvage...unless you self insure for potentially tens of thousands in costs.
Exactly correct.

Further, ensure that the pollution coverage is a stand-alone component of the polivy, and not included in the liability.
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Old 06-16-2019, 02:46 PM   #6
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Progressive said no boats over 35ft. I think Booat Us is Geico which I tried online and did not see an option for liability only, so I will call on Monday.
Thanks for the heads up on "oil spill coverage" seperate from the liability. I was also wondering if I could get an umbrella policy that would work.
thanks,
Bud
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Old 06-16-2019, 02:56 PM   #7
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Progressive said no boats over 35ft. I think Booat Us is Geico which I tried online and did not see an option for liability only, so I will call on Monday.
Thanks for the heads up on "oil spill coverage" seperate from the liability. I was also wondering if I could get an umbrella policy that would work.
thanks,
Bud
Boat US/Geico Marine will require a recent survey for either liability only or hull coverage.

With regards to umbrella coverage- most umbrellas will not cover unique marine liability issues including pollution, salvage, and wreck removal.

With pollution liability being $939,800, its best to get the proper coverage Vice the cheapest coverage.
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Old 06-16-2019, 03:07 PM   #8
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From one GB owner to another lacking hull insurance is a potentially serious error. Even a minor damage can cost many times what the insurance would have cost.
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Old 06-16-2019, 03:54 PM   #9
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Exactly correct.



Further, ensure that the pollution coverage is a stand-alone component of the polivy, and not included in the liability.


Why? What’s the difference?
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Old 06-16-2019, 04:26 PM   #10
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It all depends on the policy language.

Example- a boat with a $500k liab only policy has a severe allision with a dock, which partially sinks the vessel and spills 100 gallons of fuel. Damage is estimated at $350k property damage, and $300k fuel related damage (cleanup, mitigation, environmental assessment, etc).

If the pollution is stand-alone coverage per the Oil Pollution Act of 1990 with limits of $939,800, both the liability damage and the pollution damage in my example would be well covered.

On the other hand, if pollution is included as part of the liab coverage, once the policy limits of $500k are exhausted, the vessel owner becomes responsible for anything above the liab limit.
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Old 06-16-2019, 05:23 PM   #11
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I hear you guys. I will say my freinds boat sank at the dock last year here in the Florida keys and we got a boom around it and pluged the fuel tank vents. There was no pollution violations or fines issued. It took us a couple of days to raise it and tow it to a haul out. The problem with hull coverage on an older (1980) vessel like mine is they want a lot of money for a little bit of coverage. I would rather just be covered for liability and I am in good health and very expeirenced also pretty capable of fixing just about any damage that would occur or able to get it done reasonably. The big deductables and the depreciation the insurance companies have it would be mostly out of my pocket anyways inless it was a total loss. The only scarey situation would be the liability of a fuel spill, extreme property damage, or God forbid a loss of life which liability coverage hopefully should cover.
Thanks
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Old 06-16-2019, 05:28 PM   #12
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I hear you guys. I will say my freinds boat sank at the dock last year here in the Florida keys and we got a boom around it and pluged the fuel tank vents. There was no pollution violations or fines issued. It took us a couple of days to raise it and tow it to a haul out. The problem with hull coverage on an older (1980) vessel like mine is they want a lot of money for a little bit of coverage. I would rather just be covered for liability and I am in good health and very expeirenced also pretty capable of fixing just about any damage that would occur or able to get it done reasonably. The big deductables and the depreciation the insurance companies have it would be mostly out of my pocket anyways inless it was a total loss. The only scarey situation would be the liability of a fuel spill, extreme property damage, or God forbid a loss of life which liability coverage hopefully should cover.
Thanks
Bud
Get the vessel hauled and surveyed, the get quotes for agreed value hull coverage with higher deductibles. This will lower your premium.

If you feel comfortable self insuring for the hull, personal property, and such, the. Liab only may be a good choice for you.
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Old 06-16-2019, 05:32 PM   #13
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It all depends on the policy language.

Example- a boat with a $500k liab only policy has a severe allision with a dock, which partially sinks the vessel and spills 100 gallons of fuel. Damage is estimated at $350k property damage, and $300k fuel related damage (cleanup, mitigation, environmental assessment, etc).

If the pollution is stand-alone coverage per the Oil Pollution Act of 1990 with limits of $939,800, both the liability damage and the pollution damage in my example would be well covered.

On the other hand, if pollution is included as part of the liab coverage, once the policy limits of $500k are exhausted, the vessel owner becomes responsible for anything above the liab limit.

I see, I think. So there are statutory limits on "polution coverage", where as general liability the coverage is limited by the policy.
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Old 06-16-2019, 05:44 PM   #14
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Correct. The OPA of 1990 came about as a result of the Exxon Valdez disaster, and set statutory limits of $800k for private pleasure vessels (later remanded to $854,400, the 939,800).

Any true marine policy will have this limit outlined in the policy’s dec page, or the policy language will have wording that states “pollution coverage is in addition to the liability coverage on the declarations page”.
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Old 06-16-2019, 05:45 PM   #15
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Originally Posted by Bud View Post
I hear you guys. I will say my freinds boat sank at the dock last year here in the Florida keys and we got a boom around it and pluged the fuel tank vents. There was no pollution violations or fines issued. It took us a couple of days to raise it and tow it to a haul out. The problem with hull coverage on an older (1980) vessel like mine is they want a lot of money for a little bit of coverage. I would rather just be covered for liability and I am in good health and very expeirenced also pretty capable of fixing just about any damage that would occur or able to get it done reasonably. The big deductables and the depreciation the insurance companies have it would be mostly out of my pocket anyways inless it was a total loss. The only scarey situation would be the liability of a fuel spill, extreme property damage, or God forbid a loss of life which liability coverage hopefully should cover.
Thanks
Bud
I was operational for nearly 20 years in the USCG and towing/salvage business for 15.


Best laid plans, good intentions, being careful, etc...etc....sometimes things still bite you in the butt.


Not insuring for liability, pollution and salvage can really hurt unless you have deep pockets.


I am overly trained (as my bosses continually reminded me) andpretty astute in these matters, but I know I am not perfect, and that is why insurance exists.
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Old 06-16-2019, 06:57 PM   #16
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My present policy is with a carrier that is a non admitted carrier which I think means they don't have to abide by florida state law. My deductable is $5200 and it doubles in a named storm. Depreciation applies so on an older boat like mine they will pay a small percentage of replacement cost on anything damaged. For a total loss they will pay $60K. I really don' see the value in that.
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Old 06-16-2019, 07:40 PM   #17
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Not carrying hull insurance is one thing and I can understand...but an old boat or a brand, new $1M boat needs the same liability, salvage, and pollution coverage in my mind....because they can easily eat into your ocket more than you might think..as to hull which a an easy number to guess.
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Old 06-16-2019, 08:16 PM   #18
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My present policy is with a carrier that is a non admitted carrier which I think means they don't have to abide by florida state law. My deductable is $5200 and it doubles in a named storm. Depreciation applies so on an older boat like mine they will pay a small percentage of replacement cost on anything damaged. For a total loss they will pay $60K. I really don' see the value in that.
What is your insured value- $60k?
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Old 06-16-2019, 08:24 PM   #19
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They determined it to be 70K
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Old 06-16-2019, 10:02 PM   #20
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They determined it to be 70K
Who determined the value to be $70k? Who is the insurance carrier?
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