Insurance dilemma please help!

We are in the process of purchasing a 1986 49 DeFever RPH. Called Boat US and as of 01/2021 there not insuring a MV of this size or age. Does anyone have Any idea of where I could obtain “Antique” MV insurance? We are in the Puget Sound area, no insurance claims & USCG Veteran.

These guys have served me well; I have a 74 "out of production" 41' vessel. They are at Elliott Bay Marina.

Check out this recent thread too: https://www.trawlerforum.com/forums/s62/insurance-55357.html

We had the same issue, our boat was insured by Boat US when we bought it. But they did/would not insure stating a few things once we transferred ownership. I ended up going with Peter Ricks at Novamar for a fair rate.

Peter Ricks,
Novamar
253-377-0649

He helped us out a lot and talked us thought all of our options and we picked a plan that worked best for our use. I am very happy with his service and advise.

Call the MTOA and ask if you can get coverage as a member. It’s $60 a year and we saved many times that the first year. They offer members policies from a couple of underwriters at lower rates and better coverage than those offered to non members. I suspect the age of your DeFever will not be an issue since our boat is an ‘86 too.

https://maritimeinsuranceinternational.com/

I prefer to avoid single line insurance companies that do everything (Geico, Progressive, etc). I prefer using a multi-line agency that specializes in marine insurance representing a variety of insurance companies.

Its a tough market right now. A friend is in the process of buying a Selene here in Florida. He has a good resume but his agent has said that the number of underwriters has shrunk and some have limited the number of boats that they are insuring.

Second the recommendation for Peter Ricks, he has always come through for me, and he got us our current policy when Novamar decided to not cover hurricane belt areas.

I have insurance for a 1983 Californian Scott Richards agency in Anacortes. Ask for Scot Bucanan.

A third vote for Peter Ricks.

Forth vote for Peter Ricks. We just purchased a 1982, 50' Beebe Passagemaker located in Puget Sound. Insurance started on Monday. . . . As I understand it, Boat US elected not to respond with a quote. Peter got us insurance through Red Shield, who DOES NOT depreciate on less than total claims as many (if not most) of the other companies do.

You are in the Puget Sound. Peter Ricks is in the Puget Sound. Peter used to be an underwriter for Geico Marine. He really understands the game. Peter has access to all the major players, Travelers, Markel, Red Shield and more.

Is this your first boat, are you moving up by 20 feet? There are many questions that affect Insurance. The boat and age will not be an issue for Peter. Even if you boating experience doesn't meet the underwriters standards Peter can get you on a program that will make the underwriters comfortable with you.

I think I'm the 4th or 5th vote for Peter. This should tell you something.

I'm insured with Red Shield. A very good policy.

Try Hagerty. They insure wood and other older boats in US and Canadian waters to 25 miles out.

https://www.hagerty.com/Insurance/Classic-Boat-Insurance

Received my Boat US/Geico boat insurance renewal this weak. Warning-I am a 25' pocket trawler........my cost may hurt some.


Last year my premium was $566 annually which they are raising 30% this year to $806 while decreasing my hull & equipment value by $15% (which I agree with for today's value) and they increased Fuel & Other Spills Liability to $997,100. Used the BoatUS declaration page to bid out to Chubb, Progressive and State Farm (SF insures my new 18' CC). Chubb did not respond yesterday, Progressive responded with $356 but with Fuel & Other Spills at $500K. Finally, State Farm increased Personal Medical 5X and Fuel & Other Liquid Spills was $500K at cost of $406.



State Farm also has our house, car, truck, boat and $1 million umbrella policies already bundled for us. Remember that the $1 million umbrella policy improves my Rosborough policy way better than BoatUS/Geico policy ever was. Purchased my new State Farm coverage yesterday then sent an e-mail to their monthly magazine publication last night explaining the Geico/Progressive/State Farm cost/coverage findings. Received an e-mail from a BoatUS rep. this morning thanking me for 14 years and no claims on the Rosborough (have actually insured other boats at BoatUS for 20+ years), how I am part of a larger pool to cover any future losses I may have. Bottom line I do not boat in hurricane areas and will never accept a 30% increase to improve their profits. Then spoke to a BoatUS insurance rep. and cancelled my Rosborough policy, but they will send a $70 refund since I am cancelling my policy prior to the expiration date.


Not expecting to see my e-mail in BoatUS' publication next month but it sure felt good to write it. In the meantime my improved State Farm policy is 50% of Geico's policy renewal fee and $150 less than I paid last year.


Leonard

Received quote from Chubb last night which was also good alternative at $469 to BoatUS/Geico's $806. Similar coverage but Chubb provided medical coverage at $10K per incident, BoatUS/Geico only had $1K.


Still happy with our new policy at State Farm augmented by our umbrella policy.


Leonard

I’ve been with Chubb for 15 years, one claim and they were super. Their policy was one of the best when I got it. With a 1980 boat they are still happy to sell me expensive insurance and have not dropped me, so that’s a bonus too.

RonR said:

Peter Ricks,
Novamar
253-377-0649

He helped us out a lot and talked us thought all of our options and we picked a plan that worked best for our use. I am very happy with his service and advise.

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This pretty much sums it up.

Insurance - Gowrie Group

No connection, just a satisfied customer: https://www.gowrie.com/

Progressive offers boat insurance up to 75 miles offshore of the U.S. Don't know if that includes Hawaii or PR. Not too cheap. You may also need a survey to get full coverage

Portage_Bay said:

I have insurance for a 1983 Californian Scott Richards agency in Anacortes. Ask for Scot Bucanan.

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+1
For our 1983 Defever 44

Buying boat insurance is like comparing apples to oranges UNLESS you are specific with each company you are talking to and you get the SAME EXACT coverage from each. Most of the time that is hard to do.

Someone mentioned the MTOA policy. The underwriter of that policy is/was GEICO just as it is with BoatUS. The MTOA policy does have some specifics as to the agreed value and some other points, but when I contacted them they were more expensive than BoatUS and required a survey if a previous 1 was older than 4yo. That adds to the cost.

USAA does not write boat insurance but hands it on to Progressive. They would only go to $60K for our '86 43' Albin sundeck but passed me on to Markel, which also wanted an out-of-the-water survey. Not able to do that as the boat is in KY we are in PA and won't be back to the boat until May.

Also, BoatUS has dropped any latitude requirements, Markel had them in place.

Make sure as you do your shopping that you aren't required to get a survey, unlikely for a new insured, the value is agreed value, check for waiver of depreciation and make sure your medical liability and uninsured boater is $300K. Also make sure your spill coverage is $900K+.

Another thing that is entering into the insurance cost is your credit score. IF you aren't in the 700+ you will probably pay more.

Lastly, even if you have boated for years, they will ask if you've had any boating courses.

It is a jungle out there with insurance and the uninitiated will have a hard time getting insurance on a boat, older makes it harder still.

One final thought, EVERYONE looks for cheap insurance. EVERYONE wants to be paid if they file a claim. I know of more instances of people who had to wait to get paid or to negotiate the payment to get paid than I think is necessary. I have always heard that BoatUS shows up with a checkbook, not sure that is the case anymore now that they are under GEICO but it is an important consideration.

Stay safe & healthy out there.

I received notice Geico will not renew my policy for 50' 1982 power boat located in Mexico. Sad part is that Geico bought my prior insurance company. Many folks in my marina with various insureres advised they were also notified they could not renew. I live in Seattle. Ill try the names listed here. Any phone #?

Did you talk with Geico and is that BoatUS/Geico or just Geico?

I might think that since you said the boat is in Mexico, that could be the reason, but they should be able to tell you if you call them.

Keep us posted as to the specifics and the outcome.

My '82 GB is insured by Markel through Oversea Insurance http://www.overseainsurance.com/

I'm a 20-year customer of Oversea -- they're a great company and provide excellent service. I've also gotten excellent service from Markel (when another of their insureds hit me... )

Good Luck.

Insurance

Mafke said:

We are in the process of purchasing a 1986 49 DeFever RPH. Called Boat US and as of 01/2021 there not insuring a MV of this size or age. Does anyone have Any idea of where I could obtain “Antique” MV insurance? We are in the Puget Sound area, no insurance claims & USCG Veteran.

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Call Heritage Marine insurance in Ct (860) 572-5908. They specialize in handling Classic boats and will shop the best rates for you.

I just got my 1975 Hatteras 58 LRC insured thru Ron Randall, Bristol Marine Insurance in Seattle. Cal him. (206) 909-3337

I haven't checked it, but the local TowboatUS guy told me that, although BoatUS is not insuring such vessels....GEICO, their underlying insurer, still is, if contacted directly.

I used united marine underwriters and they did a good job. No hassles and no conditions . Just renewed for next year a little cheaper this go around.

Insurance dilemma

Is the boat still in Mexico, which I think was posted previously?

He's another thought. As a US Coast Guard vet, I'm Navy, do you have any insurance with USAA (if not you should, I've had great help from them with both home & auto)? I don't believe as a vet you can do any better than their insurance.

I wanted to check my policy with BoatUS by checking thru USAA to see if they could insure our boat. BTW, your issues with BoatUS do NOT have anything to do with the age or size of your boat, we are an '86 43'.

When I contacted USAA they don't insure boats but passed me to a special group at Progressive who generally insures smaller boats as they have an $80K cap, so Progressive passed me to Markel, again a special USAA group under them.

In both cases, they want a survey, so after we return to the boat in May we are going to be pulled and surveyed.

I'm looking at the survey to provide 2 things. 1, is to give me a trained eye to look over our boat to see if I am missing anything as to maintenance, upkeep, or immediate repairs. A safety check, and 2, with a survey I will see if I have too little or too much insurance and will be able to check with BoatUS and Markel for pricing and accurate comparisons between the 2.

I somehow don't think you are telling us all the info involved in your plight.

Full disclosure might help us to help you.