Need Insurance

Can some of you tell me where to start looking for Insurance, We're purchasing a 89 grand banks and need insurance.

Can someone recommend companies

U.S Boat insurance trough geico. Decent and they're not asking for an off water survey. But off course, I recommend shopping around

Reach out to Pau Hana here on the forum. He is a broker and does know his way around marine insurance.

Did that last Feb and ended up with GEICO. It is up for renewal so I may be asking them to do a new check.

I contacted three companies, one of which looked at the survey and said I would need a 'port risk' rated policy with requirements for 1) repairs to be made and 2) for training and certification by USCG approved Captain, another of which said 'most likely port risk' and never followed up with me, and another who reviewed the hull survey and said "okay, you're approved for a standard policy, no port risk" and also gave me a quote equal to the first place, except no port risk, no repairs required AND a lower deductible ($5K). Surprisingly, that insurer was State Farm.

My boat is a 1978 custom cruiser at 53' LOA, with triple nickel mains. I am a first time boat-owner and living aboard, so it is my primary residence.

Hopefully I will never have to make a claim (ha. ha.)

menzies said:

Reach out to Pau Hana here on the forum. He is a broker and does know his way around marine insurance.

Did that last Feb and ended up with GEICO. It is up for renewal so I may be asking them to do a new check.

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Pau's role in the industry has changed, but his knowledge remains. I suggest a quality broker in your area, comparable to what Pau was.

Suggestion: Find a good broker... request quote from SAFECO. Good luck!

Then check with the company who insures your house and your car and see if a bundled policy is your best deal. It was for me... Two cars, one motorcycle, the house and one boat, and my current insurer was my best deal for the whole package.

NBOA under writes with Progressive. If you are going through a yacht broker, ask them who they recommend.

I've had ACE through Heritage Marine for 5 years. They requested an out-of-water survey to renew for the 6th year so I decided to shop around. I just signed with Geico marine through US Boat and saved $500 annually on the premium. They did require an in-water survey. I paid $630 to have the survey done.

I've heard Progressive provides good rates and there's a good chance they won't ask for a survey.

Ims

The group at IMS are easy to deal with;(Beth is great) they hooked us up with GEICO Marine Insurance Company. Saved a ton of money compared to Boat US plus they allow live aboard's.IMIS Home Page ~ International Marine Insurance Services

Beth E. Hanneman, AAI
Client Service Agent
International Marine Insurance Services
410-827-3757 Ext 21
410-827-3758 Fax
110 Channel Marker Way #200
Grasonville, MD 21638
beth@imis.pro
or mail@imis.pro

Gordo

I just got a new quote from a broker - Garrison Rudisill at Maritime Insurance International. 843-212-0534

He shopped a bunch of the companies and got me the most coverage at the lowest price using my survey that is 3 years old.

I did find one through progressive that was about $200 per year cheaper but that was for $300K coverage and I wanted $500K since spending $200 a year more for it is worth the $200K coverage difference.

Gordon B said:

The group at IMS are easy to deal with;(Beth is great) they hooked us up with GEICO Marine Insurance Company. Saved a ton of money compared to Boat US plus they allow live aboard's.IMIS Home Page ~ International Marine Insurance Services

Beth E. Hanneman, AAI
Client Service Agent
International Marine Insurance Services
410-827-3757 Ext 21
410-827-3758 Fax
110 Channel Marker Way #200
Grasonville, MD 21638
beth@imis.pro
or mail@imis.pro

Gordo

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+1

Beth has taken very good care of me over the last 3+ yesrs!

Ted

BandB said:

Pau's role in the industry has changed, but his knowledge remains. I suggest a quality broker in your area, comparable to what Pau was.

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Indeed it has! Just got off the road from doing staff training and attending trade shows around the country...and now the Seattle Boat Show!

The mentioned companies (Maritime and IMIS) are solid, as I have daily interactions with them and can attest to their excellent reputations. My former shop, Anchor Marine Underwriters, is another reputable shop to contact.

The bottom line remains- read your policy with the intent to understand it. Knowing what you have now will save you grief later should/when a claim occurs.

Those who have contacted me via PM- I'll get back to you today.

Progressive? Better read that policy very, very carefully. It's a modified car insurance policy and doesn't hold a candle to a real yacht policy.

Gordon B said:

The group at IMS are easy to deal with;(Beth is great) they hooked us up with GEICO Marine Insurance Company. Saved a ton of money compared to Boat US plus they allow live aboard's.IMIS Home Page ~ International Marine Insurance Services

Beth E. Hanneman, AAI
Client Service Agent
International Marine Insurance Services
410-827-3757 Ext 21
410-827-3758 Fax
110 Channel Marker Way #200
Grasonville, MD 21638
beth@imis.pro
or mail@imis.pro

Gordo

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We've gotten our policies through IMIS for more than 20 years... starting with Al, then son Gary... and now usually Heather. All good experience.

-Chris