Insurance

[JKCameron]

Yikes!! I was shocked today to find that the premium on my 1984 Daysailer(just paid $1900) is quoted at $250/year, by the company that insures my 2006 Boston Whaler 150 Montauk (cost $19K) with a premium of $205/yr.

Somehow that just doesn't make sense to me.

Any input or advice would be appreciated.
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PLYMOUTH VOYAGER 3

[Roger]

My house insurance included a boat motor floater clause to cover a boat up to $2000 at that time. Currently it has been upgraded to $3500 I believe, all under the same premium and coverage.

If I were to get separate insurance for the boat it would have cost me an additional $135 just for a rider clause to my current insurance. I cannot recall what the insured value would have been for that additional premium.

[gary l. britton]

JK:

When I purchased my first boat about 10-12 years ago, I ask my insurance agent about insuring it. (State Farm Insurance) I told me they do not insure the small boats. When I purchased my DaySailer, I asked him again and he gave me the same answer. He stated that my home owners insurance would be all that is needed. So, I do not have separate insurance for the DaySailer. I purchased the boat for $1000 and of course my homeowners has a $1000 deductable, so looks like no gain there.

Hope this helps.

Fair Winds.

Gary
1966, DSI
"Dancing Girls II", #3235

[oldnellie]

Assuming that you are only interested in liability insurance, check your homeowners insurance....sometimes small trailerable boats are included or can be included with a rider for a minimal cost....bigger power boats (aka your Whaler) usually are a different story and need their own policy.

Don

[calden]

Something to consider when insuring your boat is the replacement cost. If you capsize and lose your motor, for example, how much of your insurance you took out on your $1000 used boat will pay for a new small horsepower outboard which, new, is about $900 for a 3.5 hp engine? Ditto any damage to the sails, for example.

I came across this notion in another sailing forum - yes, yes, I'm a double boat kinda guy - and called up my agent (State Farm) and got an additional $900 in case my engine goes in the drink. Although my insurance had been replacement for the boat and trailer and engine at $3000, I'm not going to get replacement value for individual items.

Carlos

[adam aunins]

people need to read the fine print also, on a freind of mines insurance (power boat) it's not covered for damages while on the water unless it's docked and not "while docking."

[jpclowes]

I asked my agent about this a few years ago. She called up the home office, and got the answer from their experts. According to State Farm, my homeowners policy covers any boat to...it was either 22 or 26 feet, I can't remember now...Anyway, I further asked if it was covered in a race (something else to think about, I'll explain why in a minute...) she said the policy said a sailboat was covered no matter what. A powerboat was not covered in a race.

I knew to ask this little detail because my father had a fight with the insurance company that insured his J-22. He was involved in a collision, during a Thursday night "Beer Can" race. A much larger boat tried to take his stern too closely, and ended up catching his backstay on their pulpit, breaking his mast in half. They tried to say that since it happened in a race, he wasn't covered. His argument was that since the race was not a formal race, with no race-committee, no official scores or standings, and was started by a participant, is was more like an informal gathering of sailboats, and it didn't count. They eventually grudgingly agreed.

Anyway, the moral is ask if all your activities are covered too.

[JKCameron]

I took your advice guys and contacted my insurance company (USAA).

They advised that under my homeowners/umbrella policy, I was covered for liability to my regular limits and replacement of the boat up to $1000. Sounds like a deal to me.

Thanks and....smooth sailing.
jkc
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Bmw n52 history

[SaltLakeSailer]

The insurance on a DSI in Utah without a motor is about $40 per year. I didn't even get a quote for the insurance with a motor, I just went out and bought an extra paddle. This is probably not the most prudent course of action, but since we normally lose wind (instaad of becoming overpowered), a twin set of paddles, one on each aft end of the rail, is good enough to get us home. Read "By the Wind" by Richard Baum for a real appreciation of a lack of a motor...