boat insurance

[CK 17]

Now that my boat is almost done, I guess I have to think about insurance. I got an internet quote from united marine for about 300 bucks for a 17 foot daysailer. That's valued at $3500 for the boat, $1000 for the trailer, $300,000 liablity and $5000 medical. They didn't ask whether it was homemade--which it is. The deductable is $250.

I would follow up with a phone call before doing business.

Does this quote sound reasonable?

[Thorne]

Will you be taking lots of people out on the boat? Trailering it?

The people element is for someone slipping and suing you, always a concern in today's world. There is also the potential for damaging another boat, and a 17 ft. sailboat is borderline in my mind for this insurance -- smaller sailboats rarely carry insurance as far as I know.

The trailering element is more of an issue, and worth some thought.

One thing I found out with trailered boats is that you want to have enough coverage to cover dealing with damage to the boat and trailer on the highway.

Used to just think about replacement cost -- in terms of it sinking or being stolen, but costs for cranes / towing / trailer repairs / etc can rapidly exceed the value of the boat overall.

For example, my old San Juan 21 was happily sitting on its trailer in front of the house when some ganstas came around the corner at 50mph. Now since you can't do that on my street, they hit the neighbor's pickup and cannoned into my boat.

The boat was knocked up onto the lawn and off the trailer, which had a broken axle, ganstas went off to jail. The insurance company totalled the boat because it would cost too much to hoist it onto a temp trailer and transport it anywhere.

It worked out OK since I kept the boat, replaced the axle on the trailer, hoisted it back onto the trailer with friends, and towed it off for fiberglass repairs and a survey. But had the accident happened 2000 miles from home, I would have had to leave the boat to the insurance company and their grinders...

[Woxbox]

You might want to ask your auto insurer what they cover for the trailer and boat when it's on the highway. There's usually coverage. Also, BOAT US is generally competitive on insurance, it might pay to check their rates.

[Thorne]

Get a clear distinction between insuring the boat on the trailer, and insuring the boat off the trailer in the water -- some of the AAA clerks had a real problem with it when I checked into trailering to Mexico. BoatUS might be worth a call....

[Torna]

You might do well to look at your homeowner's insurance policy. At least where I come from, most modest boats (less than 26') are covered as incidentals under the homeowner's policies. I dunno if that would cover damage to your boat, but it does cover the big liability issue - at whatever limits you carry on your house.

-leif

[kc8pql]

Things will change when they find out it's homebuilt, and they will when you give them the HIN. You will be able to get it insured but you'll have to jump through some hoops. Boat US insured my boat, but it took a full condition and valuation survey, a bunch of photos and about a month for them to think about it first.

[David W Pratt]

the liability is also to cover environmental costs/fines if you spill fuel.

[Bark]

If you're eligible for USAA, I'd definitely talk to them. They insure everything I have, including the boat, and they are fantastic. I have only filed one boat claim, following Hurricane Isabel, and they were predictably great to work with. FWIW.

Ben

[openboater]

my homeowners gives me full liability only coverage for a boat under 25 hp. including enviro cleanup. For a $3500 hull, I'd say just becareful and forget covering the hull. In a few years you'll have saved the full value of the hull. but everybody is different.