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Insurance question

earl1z19earl1z19 Member Posts: 334 ✭✭✭
in General Boating Discussions
Does anyone have experience with insurance through NBOA (National Boat Owners of America) ? I received a quote that is about half of what my Progressive Policy is with very similar coverage. I would appreciate any insight.
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    PickleRickPickleRick Member Posts: 3,893 ✭✭✭✭✭
    edited June 2021
    Ive not heard of them.  I went with skisafe as they also saved me half what I was quoted from other insurance carriers.  They also had a cheap 10 dollar freeze coverage and it covers me doing winterizing myself.  

    Skisafe had good online forum reviews. 

    I have minimum liability as i don't keep my boat in a marina but I do have it insured for a pretty penny, as well as the trailer, just in case of theft or sinking from a boating accident.


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    Liberty44140Liberty44140 Member Posts: 4,333 ✭✭✭✭✭
    Earl, I use Wannenmacher and Thomas insurance. They sell Chubb. Great marine policy at a great price, they are in Rocky River. I’d recommend getting a quote from Christy Thomas. 

    07' Cruisers 390 (Previous Rinker's: 06' 342EC & 01' 310FV)

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    Michael TMichael T Member Posts: 7,227 ✭✭✭✭✭
    No matter what specific areas of insurance you are considering for your boat coverage I would highly recommend 2 million liability as that is the line item, if underinsured on, can bankrupt you for life. Also raising your deductibles to $500 or $1,000 can sometimes significantly reduce your total premium. Also will the insurance company allow you to use a credit card so you can get points/rewards?

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    Aqua_AuraAqua_Aura Member Posts: 2,540 ✭✭✭✭✭
    Did you check all the small details and make sure it's equivalent? Towing, wreckage coverage, etc.... I have Progressive and they have lowered my rate every year. My renewal is this month and it was $860 for the year at a 50k agreed value. I shopped it really hard last year but since the lowered the rate and gave me a refund last summer it was hard to beat. 
    1997 Bayliner 3988
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    LaReaLaRea Member, Moderator Posts: 7,568 mod
    Make sure you have coverage for fuel spill.  
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    earl1z19earl1z19 Member Posts: 334 ✭✭✭
    I did compare line by line and it is almost identical. I think the issue is that I just traded up and they may be treating the new boat as a new policy.  
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    Dutch320Dutch320 Member Posts: 83 ✭✭
    Give Marine Underwriters a call, I was getting quotes from Progressive of $1100 per year and about the same from BoatUS. Through Marine Underwriters my premium is $450 per year with a $60,000 agreed value, almost a million for fuel spill and $600 deductible. 
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    Aqua_AuraAqua_Aura Member Posts: 2,540 ✭✭✭✭✭
    I think I read the insurance is required to cover up to 1 million for fuel spill so I think it should be in all policies. Probably an EPA requirement or something. 
    1997 Bayliner 3988
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    LaReaLaRea Member, Moderator Posts: 7,568 mod
    AFAIK, fuel spill liability is capped at just under $1M.  It *should* be in all boat policies, but worth checking.  
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    TonyG13TonyG13 Member Posts: 1,291 ✭✭✭✭
    Just took a look at our policy and our Fuel Spill Liability is $997,100. Must be some weird regulation that it's not a full $1,000,000.
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    LaReaLaRea Member, Moderator Posts: 7,568 mod
    In the US, the cap on fuel spill liability is federal law.  I'm not sure about elsewhere.  
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    Michael TMichael T Member Posts: 7,227 ✭✭✭✭✭
    @LaRea makes a super point (which I forgot in my reply). Existing laws in many jurisdictions are very punitive and getting harsher by the day regarding even a "sheen" on the water surface. Incredible fines and even boat impounding are being written into legislation. My policy carried a one million rider for environmental spills/damage.
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    oscar1oscar1 Member Posts: 745 ✭✭✭
    Insurance in Miami is a rip-off 

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    PickleRickPickleRick Member Posts: 3,893 ✭✭✭✭✭
    oscar1 said:
    Insurance  is a rip-off 

    Corrected for you. 


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    Michael TMichael T Member Posts: 7,227 ✭✭✭✭✭
    Yes, it is but unless you are homeless with no assets you better have it. 
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