Increase in Cruiser Insurance

Aqua_Aura

Unfortunately there is always gonna be instances of this with any company. Hope your son gets it worked out....so frustrating.

Progressive has been really great for us but I would like to lower my payments on some of my insured assets. 

We had a hit and run that they handled flawlessly and then I slipped on ice and slammed into a guard rail and it was also handled with not much work on my end. They actually paid us well over what I expected and what KBB and NADA value was. 

Ian

boatman37 said:

Safeco is a partner or something of Liberty Mutual. I only know this because my daughter worked for Liberty Mutual for a few years.

On another note, my son was rear ended by a Hummer about last November while in North Dakota. The Hummer had Safeco. My son was in a weird situation having his camper out there for work and having to get it home. His job there was almost done and he knew he would be needing to leave very soon. His hitch was bent down so he could not tow until it was fixed. Safeco was dragging their feet on returning calls so my son ended up having to turn it into his State Farm for them to cover it then they would go after Safeco. My son had to pay the deductible out of his pocket and has not received a refund so is assuming Safeco has never settled up with State Farm. Or maybe they have and State Farm has not refunded him. Who knows but I know after about 1 month Safexo had not returned any of his calls.

If he was rear ended (did the driver get a ticket?) State Farm should be paying him and chasing subrogation without holding up payment. It's the other drivers fault, his insurance or he is liable.

Willhound

Funny this post should pop up again now. After selling the boat a few weeks ago I cancelled the insurance. The rep contacted me to suggest that if I sent a copy of the sales receipt I might get a better refund for the balance of the policy. The original cost last spring was $585.12 CDN effective April 20. We used the boat all summer which is the period you would think has the most risk for claims.
Received a notice yesterday that the refund will be $311.04.
So it looks like they just straight up apportioned it by number of months, not by use and non-use period.
Not sure how they came up with that math, but I'm not going to argue!

Ian

It sort of aligns with my insurance. I can take the Harley off the road, send in plates (NY law for insurance cancel/credit) and get a lower rate over winter just being stored at home (many do here and get a new plate each year, same with “summer” cars), I don’t as I have a custom plate). I asked if during winter storage is there a deduct for as you say, no “use risk” and the reply was no.

J3ff

I'm at 1500/year this year in FL. Agreed value of 15k. On a 270. Sigh. 

Willhound

J3ff said:

I'm at 1500/year this year in FL. Agreed value of 15k. On a 270. Sigh. 

Wow! That's obscene! Is it the location, hurricanes, in the water all year etc.? Was it cheaper when you were up north?

Ian

Another reason I won’t move down there. Can’t imagine the cost for mine.

Willhound

My brother bought a place in St. Pete Beach last year with a slip on the Intracoastal. We've been discussing going in together on about a 20 foot centre console. It won't be new and it'll only get used there 6 months of the year. If it's going to be that much for insurance I might just insure it here and tow it back and forth. Then I can use it here in summer. When we can travel again that is....

LaRea

J3ff said:

I'm at 1500/year this year in FL. Agreed value of 15k. On a 270. Sigh. 

Holy rape and pillage, Batman!  I'm only paying $960 for an agreed value of $125k.  Dollar for dollar, you're paying 13 times more than I am.  

J3ff

LaRea said:

J3ff said:

I'm at 1500/year this year in FL. Agreed value of 15k. On a 270. Sigh. 

Holy rape and pillage, Batman!  I'm only paying $960 for an agreed value of $125k.  Dollar for dollar, you're paying 13 times more than I am.  

Yes, time to just get a jetski and call it a day. 

LaRea

I'm interested to hear what people are paying.  Take your annual cost, divide by the agreed value, multiply by 10,000.  I'm at $77 per $10k of agreed value.  @J3ff is at $1000 per $10k of agreed value.  

Aqua_Aura

 I'm at $170. That's really low La Rea do you have lower coverage limits? I am at 100k for liability and uninsured. Also I have free towing

I'm also in the water all year which makes a difference. 

J3ff

Well at least I'll get about 1300 of my 1500 back when this thing is out of my life.   The jetski is 276 a year here. 

Ian

I’m less than $100 per 10k and I have about 5k in personal effect covered.

boatman37

IIRC we pay about $400/year for an agreed value of $45,000.

And for my son being rear ended, not sure if the other driver was cited or not. It was snowing ans he was stopped at a traffic light. Police were there and wrote a report.

TonyG13

$88 per $10K.

Aqua_Aura

Ok so all you guys seem to be 100 or less. Are you in the water all year?

TonyG13

Aqua_Aura said:

Ok so all you guys seem to be 100 or less. Are you in the water all year?

Six in, six out.

LaRea

State Farm:
$960/year
$125k agreed value 
$300k liability
$1000 deductible
No haulout requirement (I could stay in the water all year)

One caveat:  although the policy covers fuel spill, it's limited by the $300k liability limit.  A fuel spill could potentially exceed that limit, so I also have a $1M umbrella policy.  For $160/year, it would cover fuel spill as well as non-boating losses.  

Aqua_Aura

Nice! I have a $500 deductible which I kinda forgot about. I'm gonna look at changing it to $1000. On my vehicles the savings wasn't enough to make up that $500 but the boat may be. 

Ian

TonyG13 said:

Aqua_Aura said:

Ok so all you guys seem to be 100 or less. Are you in the water all year?

Six in, six out.

Similar, give or take. As I commented elsewhere no difference if in or stored.

Aqua_Aura

I figured storing it would have made a difference since it seems every insurance quote ask about mooring,trailering,storing etc. 

Ian

They do for records of location of typical boating and storage and they work it out from there - like your car as to where it is garaged and expected use. But they don’t reduce over winter because it’s out of the water, stored and risk is really lower than when out boating. Unlike bikes up here - turn in plates to DMV, get receipt and company cancels insurance or you can just call and say stored and off road and they’ll reduce a bit with no 3rd party personal property and injury risk. I keep my custom plate but once or twice did the latter when stored but not bothered for a few years, the difference is minimal.

boatman37

4 or so months in the water the rest in underground storage. We usually go in a week or so before Memorial day and are out late September ish

Lake_Bum

$312 a year, with a $17k Value, full coverage, including $400 towing. 

Aqua_Aura

Received my quote from Global Marine. 500k liability and uninsured and 50k AV and this one is $780 👍.

Only covers me on the Columbia/Willamette Rivers and 25 miles off the river bar but that's the only place I am.  

John41

I’m paying 1980.00 a year for my 2004 342. I have progressive. I did file a claim last year because I bottomed out both outdrives. They paid me to put brand new ocean X outdrives. They didn’t give me any problem with the claim. Before the claim I was paying a couple of hundred less. I have a value at 60,000 and I’m in Ny. I think I need to shop around for a better deal

oscar1

I am in Miami, my insurances is $2852 a year which it include a agreed value for the boat of $100,000 and 500,000 liability with 5000 storm deductible, costal navigation of 125 nautical miles (Bahamas time prior chinas virus), 10,000 medical payment per person, roadside assistances and 5000 personal effects, plus my dinghy and 4HP motor with an agreed value of $2100 total. The boat is also in the water much of the year in her slip. Insurances are really  expensive down here.

raybo3

I pay $1574. I have an agreed value of $75K for the hull and $10k for its contents. I also have $1mil in liability and $1mil for spill clean up. $2000 for towing.

Aqua_Aura

Just got seatow insurance quote and it's basically$800 like the others. So all 3 of the quotes I got are about the same and my Progressive insurance is also the same since they gave a credit a couple months ago. Progressive has disappearing deductible which I forgot about so that is why my deductible is only $500 now. Guess I'll look again next year if Progressive sticks with the 1150 and doesn't reduce it again.