Boat Insurance

Budds Outlet said:

Any comments on Farmers Foremost boat policies?

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Yes. There are better policies available. The Foremost program was designed for smaller newer boats. Coverages are IMO minimal, and not satisfactory for a trawler.

BandB said:

No, not necessarily at 50. The bigger it gets the greater the likelihood. And they generally accept experience claimed.

Just like flying too there are those licensed and irresponsible. I knew two brothers who were licensed pilots with their own small planes. One was extremely diligent. Always went through his check list carefully. I felt fine flying with him. The other brother would walk to the plane, open the door, turn the key and take off, doing no checking. Not only would I have never flown with him, his own brother wouldn't fly with him either.

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And my point is that both brothers probably would pay the same premiums if each had their own plane and the same ratings...
until something happened....
the real passed is that if the good brother had something happen totally beyond his control, odds are he would have higher premiums.

insurance

I found Boat US to be very good insurance if you have a claim, but they are a little pricey. I use National and they are $900 for a $125K hull value. Boat US was $2200 for the same amount of coverage.

Pau Hana said:

Up here the microscope comes out on owner/operators about the 75' range. Underwriting becomes much more critical of the owner's ability and experience to safely run the boat about that length.

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Here I've seen carriers start getting critical in that range too, but I've also seen them require a licensed captain to insure a 60' where the owner had never previously owned a boat of any size. He didn't like it when I told him I agreed that they should have refused him. The owner was furious, went to another insurer and lied about his experience.

psneeld said:

And my point is that both brothers probably would pay the same premiums if each had their own plane and the same ratings...
until something happened....
the real passed is that if the good brother had something happen totally beyond his control, odds are he would have higher premiums.

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You're correct as the insurer has no way to know until something happens.

BandB said:

Here I've seen carriers start getting critical in that range too, but I've also seen them require a licensed captain to insure a 60' where the owner had never previously owned a boat of any size. He didn't like it when I told him I agreed that they should have refused him. The owner was furious, went to another insurer and lied about his experience.

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2 posts in a row you made my point.

Some insurance companies are clueless and the others really don't have the clearest of pictures of who/what they are insuring.

psneeld said:

2 posts in a row you made my point.

Some insurance companies are clueless and the others really don't have the clearest of pictures of who/what they are insuring.

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Well, I'm in agreement with you. Although lying on an insurance application can come back to really haunt one in the event of a claim. The thing is that many agents don't care either as they just want the sale and commission.

The part that seriously bothers me is that he'd put his family in harm's way.

I saw more boating insanity in a weekend on the lake we lived on than in a year on the coast. Fast boats, skiers, PWC's, high powered bass boats, and pontoons loaded with booze. And there were around 8 boat rentals on the lake and you can only imagine some of the renters.

Heron said:

I was with state farm for 40+ years.....Until I realized they were hosing me on my homeowners....Double the rate of AARP's Hartford. I switched and saved over $1200/yr on my cars and home. Your mileage may vary, but I won't be going back..

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We just did the same thing last week, we were with State F(h)arm for 35 years. Cars, home, rental homes...switched to Allstate and cut our premium in half

Pau Hana said:

Lots of info in this thread- some good, some not so bueno.


Boat Us has a small footprint in the PNW- I believe Safeco has a larger book of marine business than Boat US.

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Hi Peter - I still carry SAFECO on our 1977 Tolly. Is your statement in bold above meant in jest or what you think is reality? Your feelings in general regarding SAFECO marine insurance qualifications and coverage actions upon problem occurrence??

Only reason I've not come to you for insurance coverage change is due to time constraints for boat doings via 91 yr old family matriarch's failing in-home health, pressing work requirements, and distance of boat from home.

Happy Holidays and Merry Christmas to you... Oh yea, and, A Great New Year!

Art