Reply
 
Thread Tools Search this Thread Display Modes
 
Old 02-28-2021, 10:25 AM   #1
Member
 
City: Sturgeon Bay, Wisconsin
Join Date: Sep 2019
Posts: 13
Marine Insurance

I wanted to take everyone's temp on what marine insurance provider they like. I have an '81 Present trawler. I have always been with BoatUS, in the last several years they have partnered with Geico and the policy has changed to depreciate parts to 20 percent of replacement cost. I had to file my first claim last year on another boat and really got dinged by this provision. I have talked to a couple of insurance guys and most policies tie spill coverage to an event, such as an accident to get coverage. As I have an old trawler, I want to make sure spill coverage is independent to cover a potential diesel tank leak.

Any opinions on carriers or agents? I am located in Wisconsin.

Appreciate the input.
__________________
Advertisement

floatingmick is offline   Reply With Quote
Old 02-28-2021, 10:45 AM   #2
Senior Member
 
AlanT's Avatar
 
City: Gig Harbor
Vessel Name: MoonShadow
Vessel Model: Wendon Skylounge 72'
Join Date: Oct 2012
Posts: 204
Quote:
Originally Posted by floatingmick View Post
I wanted to take everyone's temp on what marine insurance provider they like. I have an '81 Present trawler. I have always been with BoatUS, in the last several years they have partnered with Geico and the policy has changed to depreciate parts to 20 percent of replacement cost. I had to file my first claim last year on another boat and really got dinged by this provision. I have talked to a couple of insurance guys and most policies tie spill coverage to an event, such as an accident to get coverage. As I have an old trawler, I want to make sure spill coverage is independent to cover a potential diesel tank leak.

Any opinions on carriers or agents? I am located in Wisconsin.

Appreciate the input.
I have been using Jack Martin in Annapolis over 4 boats in widely varied locales. They have always offered me alternatives at each renewal and if asked will talk you through policy differences between the various policies.
__________________

AlanT is offline   Reply With Quote
Old 02-28-2021, 11:06 AM   #3
Guru
 
O C Diver's Avatar
 
City: Fort Myers, FL... Summers in Crisfield, MD
Vessel Name: Slow Hand
Vessel Model: Cherubini Independence 45
Join Date: Dec 2010
Posts: 10,122
Even though I live in Florida, I continue to use:

Gowie Group Inc
formerly: International Marine Insurance Services (IMIS)
in Grasonville, Maryland

Have been extremely happy with them since 2014.

Ted
__________________
Blog: mvslowhand.com
I'm tired of fast moves, I've got a slow groove, on my mind.....
I want to spend some time, Not come and go in a heated rush.....
"Slow Hand" by The Pointer Sisters
O C Diver is offline   Reply With Quote
Old 02-28-2021, 11:26 AM   #4
Guru
 
tiltrider1's Avatar
 
City: Seattle
Vessel Name: AZZURRA
Vessel Model: Ocean Alexander 54
Join Date: Aug 2017
Posts: 2,438
There is boat insurance and then there is Yacht Insurance. Maybe Pau Hana will jump in here. He used to be an underwriter for Gieco.

It seems most people pay less than I do for insurance. It appears most people get less for their money than I do.

A good Insurance broker is everything.
tiltrider1 is offline   Reply With Quote
Old 02-28-2021, 12:32 PM   #5
TF Site Team
 
slowgoesit's Avatar
 
City: Puget Sound
Vessel Name: Muirgen
Vessel Model: 50' Beebe Passagemaker
Join Date: May 2019
Posts: 934
Consider speaking to Peter Ricks (info below). He got insurance on our 39 year old trawler through Red Shield. No depreciation on less than total loss, spill cleanup is separate item on policy. Reasonable rates, but that is in the Pacific North West. Also, please note, as of 1 January 2021, Geico/Boats US is no longer insuring boats over 30 years old, or longer than 30 feet. Some people report that they are grandfathered, but I'm not sure if they've renewed their policies since 1 Jan, or for how long Geico will continue to grandfather people. We applied to Geico, as I was pleased that they covered navigation area of US and Canada, with no increases for hurricane dates, but they elected not to respond due to their new policy. Good luck and please let us know what you decide!


If you use Peter, give him our name. He sent me coffee cups and pens for recommending people!


Scot Kellersberger



Peter Ricks
Northwest Regional Manager
NOVAMAR INSURANCE GROUP, INC.
WA Lic # 249824

2500 Westlake Avenue N, Suite D
Seattle, WA 98109

Office: (800) 823 2798
Direct: (206) 350-5051
Mobile: (253) 377-0649
Fax: (206) 281-8036
__________________
Vessel Name: Muirgen
Vessel Model: 50' Beebe Passagemaker
slowgoesit is online now   Reply With Quote
Old 02-28-2021, 12:38 PM   #6
Moderator Emeritus
 
ksanders's Avatar
 
City: SEWARD ALASKA
Vessel Name: LISAS WAY
Vessel Model: BAYLINER 4788
Join Date: Feb 2011
Posts: 4,947
I'll post another recommendation for Pete

He has been insuring boats for us for a couple decades and even helped us with a policy issue while he was working for Geico as a underwriter.

Wonderful guy, and very knowledgable!
__________________
Kevin Sanders
Bayliner 4788
Seward, Alaska
ksanders is offline   Reply With Quote
Old 02-28-2021, 12:43 PM   #7
Senior Member
 
Leatherneck's Avatar
 
City: Tall Timbers Maryland
Vessel Name: Devil Dog
Vessel Model: 1987 Jefferson 42 Sundeck
Join Date: Sep 2019
Posts: 177
Ditto on Pete. He got me a very nice yacht policy on my 33 year old boat with no depreciation and great coverage terms. He's the best!
__________________
---------------
George
Leatherneck is offline   Reply With Quote
Old 02-28-2021, 01:47 PM   #8
Guru
 
Alaskan Sea-Duction's Avatar
 
City: Inside Passage Summer/Columbia River Winter
Vessel Name: Alaskan Sea-Duction
Vessel Model: 1988 M/Y Camargue YachtFisher
Join Date: Jul 2012
Posts: 6,956
+100% for Pete. He contacted me a month out for renewal. When I was with other insurances I was lucky to get notified. Great customer service.

My friends of the Pairadice was having issues with his insurance in Mexico. Pete was having dinner with his wife and dropped what he was doing to assist Pairadice.
Alaskan Sea-Duction is online now   Reply With Quote
Old 02-28-2021, 05:04 PM   #9
Guru
 
tiltrider1's Avatar
 
City: Seattle
Vessel Name: AZZURRA
Vessel Model: Ocean Alexander 54
Join Date: Aug 2017
Posts: 2,438
Peter Ricks is Pau Hana.
tiltrider1 is offline   Reply With Quote
Old 02-28-2021, 06:29 PM   #10
Veteran Member
 
Leonard Atkins's Avatar
 
City: Wappingers Falls, NY
Vessel Name: Dream Come True
Vessel Model: 2000 Rosborough RF-246 & 2018 18' Carolina Skiff Center Console
Join Date: Jan 1970
Posts: 45
I want to be careful in my response to the OP as I believe insurance for our 20 year old 25' boat does not translate cleanly for larger boats, especially older larger boats.


We insured our boats with Boat US for over 20 years. In 2007 Boat US was sold to National Indemnity Company (Berkshire Hathaway) and this past January ownership was transferred to another Berkhire Hathaway entity; Geico, per Trade Only Today (Soundings). After prior TF and Rosborough Owners insurance threads I was waiting for an increase and perhaps cancellation due to age. Boat US/Geico did send a policy increase of 30% but no issue with age of our 2000 boat. Went to bid with Progressive, Chubb and State Farm. All were cheaper but Boat US/Geico had better coverage except for Fuel/Liquid spill which BoatUS/Geico was superior at $1 million. It appears the standard industry coverage starts at $500K. We ended up insuring our Rosborough with State Farm where we have other policies including an umbrella policy that we confirmed would supplement our new boat policy. Age of boat was non-issue at all three bidders.


Lots of companies are raising fees this year. So far we have been able to avoid all price increases simply by bidding with appropriate vendors. My two cents.


Was happy to only receive a 5% dockage increase. My marina had held pricing for the past 5 years.



Leonard
Leonard Atkins is offline   Reply With Quote
Old 03-01-2021, 04:47 AM   #11
Senior Member
 
Greatlaker221's Avatar
 
City: Kenosha, WI
Vessel Name: Tortuga
Vessel Model: Hershine 37
Join Date: Apr 2014
Posts: 239
Quote:
Originally Posted by Leonard Atkins View Post
I want to be careful in my response to the OP as I believe insurance for our 20 year old 25' boat does not translate cleanly for larger boats, especially older larger boats.


We insured our boats with Boat US for over 20 years. In 2007 Boat US was sold to National Indemnity Company (Berkshire Hathaway) and this past January ownership was transferred to another Berkhire Hathaway entity; Geico, per Trade Only Today (Soundings). After prior TF and Rosborough Owners insurance threads I was waiting for an increase and perhaps cancellation due to age. Boat US/Geico did send a policy increase of 30% but no issue with age of our 2000 boat. Went to bid with Progressive, Chubb and State Farm. All were cheaper but Boat US/Geico had better coverage except for Fuel/Liquid spill which BoatUS/Geico was superior at $1 million. It appears the standard industry coverage starts at $500K. We ended up insuring our Rosborough with State Farm where we have other policies including an umbrella policy that we confirmed would supplement our new boat policy. Age of boat was non-issue at all three bidders.


Lots of companies are raising fees this year. So far we have been able to avoid all price increases simply by bidding with appropriate vendors. My two cents.


Was happy to only receive a 5% dockage increase. My marina had held pricing for the past 5 years.



Leonard


Check on if your policy has a salvage cap. Some limit coverage. I ran into this several times as a salvage operator. It’s a bad day if you sink, worse to find out why your policy was so cheap.
Greatlaker221 is offline   Reply With Quote
Old 03-01-2021, 08:42 AM   #12
Veteran Member
 
Leonard Atkins's Avatar
 
City: Wappingers Falls, NY
Vessel Name: Dream Come True
Vessel Model: 2000 Rosborough RF-246 & 2018 18' Carolina Skiff Center Console
Join Date: Jan 1970
Posts: 45
Greatlaker221;


Good point. I have $80K in salvage on the policy plus an umbrella policy which I confirmed would cover our boat without limitation from the same insurer.


Leonard
Leonard Atkins is offline   Reply With Quote
Old 03-01-2021, 08:52 AM   #13
Guru
 
Woodland Hills's Avatar
 
City: Jacksonville
Vessel Name: Alzero
Vessel Model: Hatteras 63' CPMY
Join Date: Apr 2017
Posts: 1,699
Quote:
Originally Posted by AlanT View Post
I have been using Jack Martin in Annapolis over 4 boats in widely varied locales. They have always offered me alternatives at each renewal and if asked will talk you through policy differences between the various policies.
They administer our Markel policy, but by buying it through the MTOA we got better coverage for less money than by going direct. The cost of MTOA membership was a fraction of our savings.
Woodland Hills is offline   Reply With Quote
Old 04-06-2021, 09:40 AM   #14
Member
 
City: Sturgeon Bay, Wisconsin
Join Date: Sep 2019
Posts: 13
Always feel like I should know every abbreviation, but, what is "MTOA"? I appreciate all the responses!
floatingmick is offline   Reply With Quote
Old 04-06-2021, 09:44 AM   #15
Guru
 
High Wire's Avatar
 
City: Cape May, NJ and Englewood, FL
Vessel Name: Irish Lady
Vessel Model: Monk 36
Join Date: Dec 2007
Posts: 3,814
Quote:
Originally Posted by floatingmick View Post
Always feel like I should know every abbreviation, but, what is "MTOA"? I appreciate all the responses!
Marine Trawler Owners Association
__________________
Archie
Irish Lady
1984 Monk 36 Hull #46
Currently in Englewood Florida.
High Wire is offline   Reply With Quote
Old 04-06-2021, 10:50 AM   #16
Member
 
City: Portland
Vessel Name: Finnegus
Vessel Model: Pelagic
Join Date: Dec 2020
Posts: 7
I use Anchor Marine Insurance out of Seattle. They brokered me to Lloyds. It costs less than Geico and they KNOW boats! I had a loss with them about 10 years ago after my boat was sunk at the dock due to a storm. They were awesome. I just remember being on the phone for an hour with Geico trying to explain why I did not keep my 36 foot 30000 pound boat on a trailer.....
Finnegus is offline   Reply With Quote
Old 04-06-2021, 01:11 PM   #17
Guru
 
Alaskan Sea-Duction's Avatar
 
City: Inside Passage Summer/Columbia River Winter
Vessel Name: Alaskan Sea-Duction
Vessel Model: 1988 M/Y Camargue YachtFisher
Join Date: Jul 2012
Posts: 6,956
Quote:
Originally Posted by Finnegus View Post
I use Anchor Marine Insurance out of Seattle. They brokered me to Lloyds. It costs less than Geico and they KNOW boats! I had a loss with them about 10 years ago after my boat was sunk at the dock due to a storm. They were awesome. I just remember being on the phone for an hour with Geico trying to explain why I did not keep my 36 foot 30000 pound boat on a trailer.....
I was with them for a number of years until I got a letter saying ASD was too old (1988) and unless I could prove I re-powered in the last 6 months my insurance was gone. I contacted Peter Hau (sp) and he set me up a good policy and I go through him know. Awesome service. He is a member here.
Alaskan Sea-Duction is online now   Reply With Quote
Old 04-06-2021, 02:25 PM   #18
Senior Member
 
City: PNW
Join Date: Dec 2014
Posts: 120
Peter Ricks
www.novamarinsurance.com
peter@novamar.net
TF User name Pau Hana

+1
Stabi is offline   Reply With Quote
Old 04-06-2021, 02:30 PM   #19
Member
 
City: Portland
Vessel Name: Finnegus
Vessel Model: Pelagic
Join Date: Dec 2020
Posts: 7
I did not think of that... My boat is 45 years old but the power plant is 2006. I gave up on Geico after trying to explain to the rep that "No, the HIN # is not pop riveted to the transom" of the 70 year old wood trawler I had at the time. She was unable to grasp that the Documentation number etched in the main deck beam at build was the vessel ID number.
Finnegus is offline   Reply With Quote
Old 04-06-2021, 03:01 PM   #20
Member
 
Small Dinghy's Avatar
 
City: Howell
Join Date: Apr 2021
Posts: 6
Quote:
Originally Posted by tiltrider1 View Post
Peter Ricks is Pau Hana.



No spoiler alert or anything, just threw it right out there.









__________________

Small Dinghy is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



» Trawler Port Captains
Port Captains are TF volunteers who can serve as local guides or assist with local arrangements and information. Search below to locate Port Captains near your destination. To learn more about this program read here: TF Port Captain Program





All times are GMT -5. The time now is 09:43 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2021, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012
×