insurance questions

[Eli27]

First i would like to thank everyone who has welcomed me to the forum. Thank you everyone.

So, ill be buying a gb within the next month yr range 74-88. Ive been out of the water a while but i still have my sea legs and not too worried about getting used to it again. My question is when it comes to insurance what will be asked of me?

Do i need an actual captains license? I dont have one. How can i prove my hours on the water? Will i have to pay for courses to prove my abilities?

Again, thanks for all the help

Eli

P.S.- whats an about price for insurance on boat these days? boat worth 100k

 

[NWboater2]

Hi Eli I too am about to buy a GB. I can chime in on the experience thing. I have quite a bit but on smaller boats so the jump to 42 feet requires me to have a training skipper for 20 hours, or until that person says I am competent. Knew (from lurking and researching here) that was likely going in. I’m using a poster here (Pau Hana) who is an ins broker in seattle. He’s been extremely helpful and responsive. I don’t know if you need someone local. Oh they have other offices too:
https://www.novamarinsurance.com/contact-us

Deductible for me was 2% hopefully will be 1% when I get the training wheels off. Premiums vary greatly Im told, but for 100k boat I would think not more than 1000 per year There are also some restrictions apparently on older boats and especially wood ones.
Others here will chime in I’m sure. There’s a lot of good info on this site. Good luck.

 

[Comodave]

Give Peter (Pau Hana) a call. 206-350-5051

 

[Eli27]

Hi Eli I too am about to buy a GB. I can chime in on the experience thing. I have quite a bit but on smaller boats so the jump to 42 feet requires me to have a training skipper for 20 hours, or until that person says I am competent. Knew (from lurking and researching here) that was likely going in. I’m using a poster here (Pau Hana) who is an ins broker in seattle. He’s been extremely helpful and responsive. I don’t know if you need someone local. Oh they have other offices too:
https://www.novamarinsurance.com/contact-us

Deductible for me was 2% hopefully will be 1% when I get the training wheels off. Premiums vary greatly Im told, but for 100k boat I would think not more than 1000 per year There are also some restrictions apparently on older boats and especially wood ones.
Others here will chime in I’m sure. There’s a lot of good info on this site. Good luck.

Will i be allowed to bring the boat to my homeport or will i have to get the ok from where i purchased the boat? I have a friend who will be back from his trip in a couple months and i will be purchasing mine within 3 weeks. Again i appreciate the info

Eli

P.S. My friend is a captain and training skipper. Hes in the mississippi at the moment and i believe i narrowed my search to maryland or florida. Whichever i decide ill have to bring it back to Rhode Island so i can give it a complete run through for the loop.

 

[NWboater2]

From my limited but very recent experience you won’t be insured to operate the boat until you get okayed by the training capt, unless, based on your experience and ownership boating resume, that is not required.

The insurer will also require a survey and, probably, that you repair safety and seaworthiness issues that the survey finds.

I would look for a suitable boat wherever you are based. Can’t opine on prices but inventory seems to be up based on my pretty constant watching the last few years. Covid, summer, and low interest rates are no more.

Florida to RI is quite a shakedown cruise! Good luck. And do talk to Peter.

 

[CharlieO.]

I'll give you my personal experience getting insurance last year.

I ended up with Progressive for a $28,000 agreed value. 1977 Marine Trader 34DC.

I called and emailed and inquired at a few places. I got everything from "nope we can't help you" to "We are going to need much more information".

I did the online Progressive application. The big questions I was worried about;

It asked about experience. I answered honestly with 10 years. That was 20+ years ago when I worked on various commercial vessels in Alaska as a deck hand/deck boss. I thought there would be a follow up question asking how recent that experience was. Nope, next question please...

Asked about last or previous boat ownership; I answered honestly with "20' Four Winns".... My previous boat was a 20' Four Winns cuddy cabin that I had taken out maybe 5 times then it sat around for a few years until I sold it.

Then I put an agreed hull value, put on a couple add ons to the coverage on the policy and they gave me a price.

I know you get what you pay for, but this suited my needs and expectations for the price and ease. When we get our next boat or if we decide to put a bunch of money into this one, we will shop for more suitable coverage for our changing needs.

Oh and I just got my renewal and my rates dropped a bit over 10%.

 

[Old Sea Dog]

Good morning. Which GB are you looking for? I had been out of boating for 30 years. Purchssed a 1979 36 in August and singlehanded from Marathon FL to Crisfield MD in September. I too have Progressive Insurance. They wanted to know experience. I listed a 20' Kencraft center console and a 26' Grady White. My previous experience (30 years ago) was lived on my 27' sailboat and worked full time on 81' Trumpy.
Cost is $800/yr. Good luck on the boat search.


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[Eli27]

Good morning. Which GB are you looking for? I had been out of boating for 30 years. Purchssed a 1979 36 in August and singlehanded from Marathon FL to Crisfield MD in September. I too have Progressive Insurance. They wanted to know experience. I listed a 20' Kencraft center console and a 26' Grady White. My previous experience (30 years ago) was lived on my 27' sailboat and worked full time on 81' Trumpy.
Cost is $800/yr. Good luck on the boat search.


Sent from my SM-G715U1 using Trawler Forum mobile app

36 classic

Eli

 

[Eli27]

I'll give you my personal experience getting insurance last year.

I ended up with Progressive for a $28,000 agreed value. 1977 Marine Trader 34DC.

I called and emailed and inquired at a few places. I got everything from "nope we can't help you" to "We are going to need much more information".

I did the online Progressive application. The big questions I was worried about;

It asked about experience. I answered honestly with 10 years. That was 20+ years ago when I worked on various commercial vessels in Alaska as a deck hand/deck boss. I thought there would be a follow up question asking how recent that experience was. Nope, next question please...

Asked about last or previous boat ownership; I answered honestly with "20' Four Winns".... My previous boat was a 20' Four Winns cuddy cabin that I had taken out maybe 5 times then it sat around for a few years until I sold it.

Then I put an agreed hull value, put on a couple add ons to the coverage on the policy and they gave me a price.

I know you get what you pay for, but this suited my needs and expectations for the price and ease. When we get our next boat or if we decide to put a bunch of money into this one, we will shop for more suitable coverage for our changing needs.

Oh and I just got my renewal and my rates dropped a bit over 10%.

Thanks for the info. I think thats what im gonna try first. As soon as the sale is made ill start the process with progressive. Afterall, thats who i have for auto insurance for over 10 yrs now.

Eli

 

[CharlieO.]

Thanks for the info. I think thats what im gonna try first. As soon as the sale is made ill start the process with progressive. Afterall, thats who i have for auto insurance for over 10 yrs now.

Eli

I went and got the quote before we finalized the purchase. I wanted to be sure I’d be able to get a policy before purchasing. I think the quote was good for a month maybe.

 

[jgwinks]

No USCG license is needed unless you are running a boat commercially, so unless you want to do day charters or something you don't need one. Insurance will likely require training, but not licensure. Your insurance company will tell you what they require for you and any particular boat you are considering, fulfill that and you're good. There may on the water training with a licensed captain involved.

 

[Delta Riverat]

Yeah, we don need no stinkin' licenses here in the land of credit card captains