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RACE boat insurance??? #141119
04/24/08 06:54 AM
04/24/08 06:54 AM
Joined: Sep 2002
Posts: 3,224
Roanoke Island ,N.C.
Team_Cat_Fever Offline OP
Carpal Tunnel
Team_Cat_Fever  Offline OP
Carpal Tunnel

Joined: Sep 2002
Posts: 3,224
Roanoke Island ,N.C.
Who will insure a RACING catamaran and what are the costs?
My insurance (soon to be ex-insurance) company told me years ago my policy covered racing now they don't?


"I said, now, I said ,pay attention boy!"

The cure for anything is salt water - sweat, tears, or the sea
Isak Dinesen
If a man is to be obsessed by something.... I suppose a boat is as good as anything... perhaps a bit better than most.
E. B. White
-- Have You Seen This? --
Re: RACE boat insurance??? [Re: Team_Cat_Fever] #141120
04/24/08 06:58 AM
04/24/08 06:58 AM
Joined: Jan 2008
Posts: 3,655
Portland, Maine
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ThunderMuffin Offline
Carpal Tunnel
ThunderMuffin  Offline
Carpal Tunnel
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Joined: Jan 2008
Posts: 3,655
Portland, Maine
go through the US Sailing ONE-design insurance. They were easy to work with during my ordeal at tradewinds, plus they cover racing and chartering insurance.
http://www.ussailing.org/membership/Insurance/ind_ins.asp

Re: RACE boat insurance??? [Re: Team_Cat_Fever] #141121
04/24/08 07:05 AM
04/24/08 07:05 AM
Joined: Oct 2005
Posts: 1,152
tampa, fl
K
ksurfer2 Offline
old hand
ksurfer2  Offline
old hand
K

Joined: Oct 2005
Posts: 1,152
tampa, fl
I agree....US Sailing. That is who I have my I-20 through. I've had one claim (not racing related), and they were VERY easy to work with and prompt with payment.


If your havin girl problems i feel bad for you son
I got 99 problems but my beautiful wife ain't one
Re: RACE boat insurance??? [Re: ksurfer2] #141122
04/24/08 08:04 AM
04/24/08 08:04 AM
Joined: Aug 2007
Posts: 3,969
B
brucat Offline
Carpal Tunnel
brucat  Offline
Carpal Tunnel
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Joined: Aug 2007
Posts: 3,969
I use BOATUS, and have been since 1997. It's around $300 a year for a new H16.

I can't speak to their service level personally, as all I've ever needed them for is to take my money (actually, that's a good problem to have).

At the time I started using them, my insurance agent recommended using them (and he didn't represent them). I was also told by other sailors that they were the only company that would insure you for racing. I think US SAILING got into it since then.

Mike

Re: RACE boat insurance??? [Re: brucat] #141123
04/24/08 08:15 AM
04/24/08 08:15 AM
Joined: Aug 2007
Posts: 342
Indianapolis, IN - Midwest USA...
IndyWave Offline
enthusiast
IndyWave  Offline
enthusiast

Joined: Aug 2007
Posts: 342
Indianapolis, IN - Midwest USA...
I have Allstate, $69/year. A new Wave is fairly expensive to purchase, even without trailer; so the insurance is a little more. My older Interlake insurance (with trailer) was $62/year.

The policy specifically states it does not cover the boat in a race, "except sailboats". So I'm covered.

Re: RACE boat insurance??? [Re: IndyWave] #141124
04/24/08 08:24 AM
04/24/08 08:24 AM

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Anonymous
Unregistered
Anonymous
Unregistered
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Who is your soon to be x? what were you paying? for what kind of coverage.

I use allstate. my cat is insured for 7k, the cost is 300/year. i have not seen anything that excludes racing.. but perhaps i should read my policy better.

Re: RACE boat insurance??? [Re: Team_Cat_Fever] #141125
04/24/08 08:34 AM
04/24/08 08:34 AM
Joined: Jun 2001
Posts: 12,310
South Carolina
Jake Offline
Carpal Tunnel
Jake  Offline
Carpal Tunnel

Joined: Jun 2001
Posts: 12,310
South Carolina
I use Progressive for my (now sold) F18 and my Hunter 23 monoslug. It was about $300 per year for both boats which included racing coverage, the trailers, trailering (in addition to any automotive policy), and charter boat coverage. They were the only company I called (didn't try the US Sailing program) that actually knew what a Nacra F18 was back in 2004. They also pleasantly surprised me by dropping my deductible 25% for every year I didn't have a claim. I should have no deductible at this point or very soon.

I have heard recently from someone else that recently tried to get a progressive policy that they didn't cover charter boats anymore though. I'm getting ready to work on a policy for my A-cat so would be interested in hearing your experiences.


Jake Kohl
Re: RACE boat insurance??? [Re: Team_Cat_Fever] #141126
04/24/08 08:44 AM
04/24/08 08:44 AM
Joined: Jan 2004
Posts: 216
Lakewood, Colorado
MUST429 Offline
enthusiast
MUST429  Offline
enthusiast

Joined: Jan 2004
Posts: 216
Lakewood, Colorado
I've had my catamaran's insured thru State Farm Insurance since 1980 or so.
My premium's started out at about $47 per year for a Hobie 18.
Last year I think my premium was appx. $147 on my 2004 H-18 with 9K of coverage, and $247 on my 1986 H-18 with 5K of coverage.
The agent explains the higher premium on the older boat with less coverage as a function of their loss experience. Over the 28 years, I have had 3 or 4 claims, only one was "race related" they have paid every claim with out a problem.

My boat policies all specifically state they do not cover the boat in a race, "except sailboats".

If the agent you are dealing with does not write sailboat inusrance very often, he may not be familiar with the language in his own companies policy.
I had a new agent tell me my boat would not be covered in a race and when I showed him the language in my policy, he was stunned. Felt kinda nice to teach the agent something about his own companies coverages.

Last edited by MUST429; 04/24/08 08:46 AM.

Life is not about waiting for the storms to pass...
It's about learning to dance in the rain
Re: RACE boat insurance??? [Re: MUST429] #141127
04/24/08 09:05 AM
04/24/08 09:05 AM
Joined: Jan 2008
Posts: 3,655
Portland, Maine
T
ThunderMuffin Offline
Carpal Tunnel
ThunderMuffin  Offline
Carpal Tunnel
T

Joined: Jan 2008
Posts: 3,655
Portland, Maine
Quote
I had a new agent tell me my boat would not be covered in a race and when I showed him the language in my policy, he was stunned. Felt kinda nice to teach the agent something about his own companies coverages.


I had the exact same experience with State Farm. The agent said that he was "99% sure that it doesn't cover racing" and when I told him to go make sure for me, he called me back astonished.

However, State Farm doesn't cover charter insurance and so I had to drop them for that. Pity too because the coverage with state farm is much better than the coverage I got with the US Sailing coverage.

Re: RACE boat insurance??? [Re: brucat] #141128
04/24/08 09:18 AM
04/24/08 09:18 AM
Joined: Sep 2006
Posts: 168
San Diego
H
hokie Offline
member
hokie  Offline
member
H

Joined: Sep 2006
Posts: 168
San Diego
Quote
I use BOATUS, and have been since 1997. It's around $300 a year for a new H16.

I can't speak to their service level personally, as all I've ever needed them for is to take my money (actually, that's a good problem to have).

At the time I started using them, my insurance agent recommended using them (and he didn't represent them). I was also told by other sailors that they were the only company that would insure you for racing. I think US SAILING got into it since then.

Mike


I have BOATUS too but mine is about half that for all USA coastal and inland waters. My parents had a boat damaged by Hurricane Isabel several years ago and everything sounded like it went smoothly even though they were very busy given all the damage done by the storm.



Re: RACE boat insurance??? [Re: ] #141129
04/24/08 09:35 AM
04/24/08 09:35 AM

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Anonymous
Unregistered
Anonymous
Unregistered
A



That sounds a little expensive. I'm with US Sailing and pay $246 for an insured value about twice that ($14k).

Re: RACE boat insurance??? [Re: ] #141130
04/24/08 09:38 AM
04/24/08 09:38 AM

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Anonymous
Unregistered
Anonymous
Unregistered
A



Should also mention that signing up with US Sailing (actually Gowrie, Barden & Brett) was much smoother than my past experience with BoatUS.

Re: RACE boat insurance??? [Re: Jake] #141131
04/24/08 10:34 AM
04/24/08 10:34 AM
Joined: Aug 2005
Posts: 2,921
Michigan
PTP Offline
Carpal Tunnel
PTP  Offline
Carpal Tunnel

Joined: Aug 2005
Posts: 2,921
Michigan
u getting an A cat?

Re: RACE boat insurance??? [Re: PTP] #141132
04/24/08 11:12 AM
04/24/08 11:12 AM
Joined: Dec 2007
Posts: 1,430
california
F-18 5150 Offline
veteran
F-18 5150  Offline
veteran

Joined: Dec 2007
Posts: 1,430
california
Gowrie, Barden & Brett
Insurance and Financial Services, Boat, Yacht, Home, Auto, Life, Health, Commercial and Personal
One DesignTM and Burgee ProgramTM endorsed by U.S. SAILING


Jul 12 2007 8:22PM Time Created


Premium Paid Confirmation Number
$ 230 $ 230
This is on a brand new tiger covered for $18,000 on the boat and $300,000 liability


Richard Vilvens
Brand Ambassador
PSA Capricorn USA
[email protected]
Fairfield, Ca
F-18 5150

http://www.capricornsailing.com/
Re: RACE boat insurance??? [Re: F-18 5150] #141133
04/24/08 11:14 AM
04/24/08 11:14 AM
Joined: Dec 2007
Posts: 1,430
california
F-18 5150 Offline
veteran
F-18 5150  Offline
veteran

Joined: Dec 2007
Posts: 1,430
california
I got it through us sailing and the coverage was cheaper than any other sites I found. The only parts not covered in racing are the sails. "sails are only covered in times of theft vandalism or fire" So if you pitch through the mail your on your own replacing them.


Richard Vilvens
Brand Ambassador
PSA Capricorn USA
[email protected]
Fairfield, Ca
F-18 5150

http://www.capricornsailing.com/
Re: RACE boat insurance??? [Re: F-18 5150] #141134
04/24/08 11:26 AM
04/24/08 11:26 AM

A
Anonymous
Unregistered
Anonymous
Unregistered
A



I am starting to think i overpaid... since i have paid 2 of the 300... next year i will look around

Re: RACE boat insurance??? [Re: ] #141135
04/24/08 12:30 PM
04/24/08 12:30 PM
Joined: Aug 2005
Posts: 2,921
Michigan
PTP Offline
Carpal Tunnel
PTP  Offline
Carpal Tunnel

Joined: Aug 2005
Posts: 2,921
Michigan
I would hate to say how much I have to pay for the tri <img src="http://www.catsailor.com/forums/images/graemlins/frown.gif" alt="" />

Re: RACE boat insurance??? [Re: PTP] #141136
04/24/08 01:35 PM
04/24/08 01:35 PM
Joined: Jun 2003
Posts: 887
Crofton, MD
Chris9 Offline
old hand
Chris9  Offline
old hand

Joined: Jun 2003
Posts: 887
Crofton, MD
My'ins is with State Farm. Had to push agent to understand that the boat doens't have a motor and that they do cover racing. Fee $220 or so, 10k boat + equipment including sails, 2k Trailer, and a claim history. When I tried the US Sailing people they were over $350 because of recent claim histroy and they wouldn't cover the sails.


Chris Allen
Nacra 20 Gertie
www.wrcra.org
Re: RACE boat insurance??? [Re: Chris9] #141137
04/24/08 05:57 PM
04/24/08 05:57 PM
Joined: Aug 2007
Posts: 3,969
B
brucat Offline
Carpal Tunnel
brucat  Offline
Carpal Tunnel
B

Joined: Aug 2007
Posts: 3,969
I never looked at the specifics, just always assumed covering a sail boat would include, I don't know.. THE SAILS?????

Mike

Re: RACE boat insurance??? [Re: brucat] #141138
04/24/08 08:06 PM
04/24/08 08:06 PM
Joined: Dec 2007
Posts: 1,430
california
F-18 5150 Offline
veteran
F-18 5150  Offline
veteran

Joined: Dec 2007
Posts: 1,430
california
I asked my agent about that and they said the sails are like tires on a car. They wear out and it would be easy to say you need a new set every year. a.k.a. Someone took advantage of the system and ruined it for the rest of us. If its not your fault the other insurance will buy new sails, or have your glass estimate high enough to cover the sails


Richard Vilvens
Brand Ambassador
PSA Capricorn USA
[email protected]
Fairfield, Ca
F-18 5150

http://www.capricornsailing.com/
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