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Old 02-25-2020, 02:34 PM   #1
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Looking for quality insurance, does it exist?

I decided to read, in detail, my policy on our 52' boat. To my surprise, the policy had been rewritten from the last time I had read in detail. Depending on which side of the fence you were on one could argue almost nothing was covered.

I do not want the lowest priced policy, just a quality fair priced policy. I want one that covers all damage due to my stupidity, unintentional negligence, and weather events UNLESS clearly listed in detail and written in a language even I can understand before I buy. I want to be able to get a WRITTEN response to my what-if questions before I buy, which I am not receiving from my current company. I don't want to argue someday about consequential damages issues.

Is there a commonly accepted company that sells what I'm looking for? Or perhaps an extremely knowledgeable expert marine insurance broker that specializes in same? What I have found so far does not meet my needs.

If it matters, we are in south central Alaska.
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Old 02-25-2020, 02:49 PM   #2
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MTOA has a good policy through Markel. Membership is not expensive and the policy is better than the one offered to the general public. The agent is Jack Martin in Annapolis.
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Old 02-25-2020, 02:54 PM   #3
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Bruce, let me suggest you call my agent, Robin, at Bristol Insurance Company in Seattle at 206-634-1787. Tell her Mike in Pasco gave you her info and tell her you are interested in a Yacht Policy, not a boat policy.

I've been with them over 15 years and they've done me well with a couple of claims.
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Old 02-25-2020, 04:21 PM   #4
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Most importantly, do they pay claims? I have had great service from ACE, on both the big boat and the Whaler. The broker has also been excellent, the Gowrie Group out of Connecticut.
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Old 02-25-2020, 04:33 PM   #5
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Talk to Novamar insurance, Pau Hana on this forum. I'm certain they will present you with a range of options from several companies that will meet your specific needs.

I have no affiliation, just a satisfied customer.

You can reach Novamar in Seattle at, 206-281-8144.
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Old 02-25-2020, 04:50 PM   #6
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Thanks for the suggestions, I will look into all of them.

I looked at Markel about a month ago, but they would not write unless I put the boat on the hard in the winter. Not a good option for my needs.
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Old 02-25-2020, 04:54 PM   #7
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Quote:
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Talk to Novamar insurance, Pau Hana on this forum. I'm certain they will present you with a range of options from several companies that will meet your specific needs.

I have no affiliation, just a satisfied customer.

You can reach Novamar in Seattle at, 206-281-8144.


Novamar has been good to me. I am very satisfied with the policy that Peter Ricks (Pau Hana) obtained for me. And he will tirelessly answer all of your questions.
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Old 02-25-2020, 05:03 PM   #8
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We have Boat/US and are happy with them. Have had them for 30+ years.
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Old 02-25-2020, 05:05 PM   #9
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Quote:
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Thanks for the suggestions, I will look into all of them.

I looked at Markel about a month ago, but they would not write unless I put the boat on the hard in the winter. Not a good option for my needs.
Thatís why you get your policy through the MTOA.
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Old 02-25-2020, 05:20 PM   #10
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I prefer a Multi-Line Agent that specializes in marine insurance policies. Often the home and auto route are only marginally familiar with trailorable lake boats. They start to get in over their head when they start dealing with groundings, salvage, etc.

These folks are helpful and will return a number of quotes from a a variety of companies:

https://maritimeinsuranceinternational.com/
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Old 02-25-2020, 05:52 PM   #11
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Boat US has a great reputation for settling claims quickly and fairly.

For every year with no claim, they reduce the deductible by 10% until at year 11 the deductible is 0.

They also surveyed the boat at the end of the 10th year and paid for it. Will see if they do that again at the 20 year renewal coming up this year.
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Old 02-25-2020, 06:25 PM   #12
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Quote:
Originally Posted by Bruce Palmer View Post
Thanks for the suggestions, I will look into all of them.

I looked at Markel about a month ago, but they would not write unless I put the boat on the hard in the winter. Not a good option for my needs.
Bruce, I have some options for you- touch base when you have a moment.

Pete
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Old 02-26-2020, 02:20 AM   #13
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And they also offer an MTOA/GEICO policy which has no latitude/hurricane/date limitations. The trade-off is a 10% deductible of agreed value for damaged incurred in a named storm. Otherwise the deductible is 1%. I have received good service from the Jack Martin Agency.
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MTOA has a good policy through Markel. Membership is not expensive and the policy is better than the one offered to the general public. The agent is Jack Martin in Annapolis.
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Old 02-26-2020, 07:24 AM   #14
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Make sure you are covered in the yard. A yard I was in, dropped my boat and drove the starboard stabilizer through the hull. Constructive loss, aka totaled.
My insurance company calmly proclaimed, you were not cover in the yard.
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Old 03-05-2020, 06:46 AM   #15
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Before purchasing insurance from any broker ,


Hire your own liar for hire to look for the weasel words and loop holes.
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Old 03-06-2020, 01:22 AM   #16
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Before purchasing insurance from any broker ,


Hire your own liar for hire to look for the weasel words and loop holes.
Makes no sense to "hire a liar". Might make sense to hire a lawyer, but retaining one of the brokers suggested above probably makes even more sense.
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Old 03-06-2020, 01:40 AM   #17
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Hagerty has marine insurance that covers US and Canada to 25 miles out. I've use them and found them reasonable.
https://www.hagerty.com/Insurance/Cl...Boat-Insurance
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Old 03-06-2020, 08:03 AM   #18
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Quote:
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MTOA has a good policy through Markel. Membership is not expensive and the policy is better than the one offered to the general public. The agent is Jack Martin in Annapolis.
I will offer another recommendation for Jack Martin (my agent is Morgan Wells). I just decided to renew with Chubb having had several quotes from different insurers from Jack Martin. Chubb have several levels of coverage, I chose their broadest policy which they call "Masterpiece Yacht Select". It was around $1k more than the cheapest market quote Jack Martin provided but IMO worth it.
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Old 03-06-2020, 08:46 AM   #19
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Before purchasing insurance from any broker ,


Hire your own liar for hire to look for the weasel words and loop holes.
Again with the insults. Just like the last time you slandered an entire profession, Iíll say again that I know many attorneys and they are all honest professionals who uphold the highest standards.

And just like last time Iíll ask again: if they are liars, how can you, in good conscience, recommend hiring them?
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Old 03-06-2020, 08:48 AM   #20
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I also have the Chubb Masterpiece Yacht Select policy that Pau Hana obtained for me through ACE. I am very satisfied with the terms. A little pricey but very comprehensive and worth the additional cost.
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