| 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 OP
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OP
Carpal Tunnel
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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
| | | 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 ksurfer2
old hand
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old hand
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: IndyWave]
#141124 04/24/08 08:24 AM 04/24/08 08:24 AM | Anonymous
Unregistered
| Anonymous
Unregistered | 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
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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
enthusiast
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enthusiast
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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
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[Re: MUST429]
#141127 04/24/08 09:05 AM 04/24/08 09:05 AM |
Joined: Jan 2008 Posts: 3,655 Portland, Maine ThunderMuffin
Carpal Tunnel
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Carpal Tunnel
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Posts: 3,655 Portland, Maine | 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 hokie
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member
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Posts: 168 San Diego | 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 | Anonymous
Unregistered
| Anonymous
Unregistered | 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 | Anonymous
Unregistered
| Anonymous
Unregistered | 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
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Carpal Tunnel
Joined: Aug 2005
Posts: 2,921 Michigan | | | | 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
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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 | | | Re: RACE boat insurance???
[Re: F-18 5150]
#141134 04/24/08 11:26 AM 04/24/08 11:26 AM | Anonymous
Unregistered
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Unregistered | I am starting to think i overpaid... since i have paid 2 of the 300... next year i will look around | | |
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