Need insurance

cls10105

Hello everyone, I got a letter in the mail yesterday from State Farm cancelling my insurance as of Jan 1st. Does anyone know where to get good insurance for a decent price for 2002 342 fv, with the 6.2 engines?  I checked Geico and i thought they were expensive. Thanks for your help. Oh yeah location Chattanooga TN

LaRea

Try www.globalmarineinsurance.com

I'm using State Farm, so just curious why they cancelled.

Ian

There’s also a lot of discussion in here about insurance and experiences with the companies. 

cls10105

Thanks LaRea, I will check it out. I don’t know how they can insure and then cancel within a month and only give you 3 days to find insurance. My finance company is going to love that

Ian

I think you have a right to ask and get an answer why. 

cls10105

I did the underwriter said because I have never owned a boat like this, my agent didn’t know that, I think it’s crap

Ian

Yes. At one time all of us have never had a boat at all. 

LaRea

Bad idea.  Suppose a storm destroys the boat, and then the underwriters find out you lied.  They would pay zero, and probably file criminal charges.  

rinker270nb

I think boatus does a goid job for the money, might as well invest within the industry.  It's funny to hear how we evaluate costs when we have a vehicle that gets 1 mph.  At the end of the day, $200 gets lost in the wash no matter what.

Ransnan

I use NBOI, National Boat Owners Insurance,  i pay right around $400 a year for my 2003 342 with 5.7's  it is half of what Geico's Seaworthy Insurance was.

Cableguy Greg

I have BoatUS insurance, which is underwritten by GEICO. They give better rates to BoatUS members than someone just trying to get insurance straight through GEICO. 

cls10105

Thanks everyone for the help. I have insurance again. 

cls10105

@LaRea. Thank you sir I did end up going with globalmarine. I really appreciate you. Thanks again!

Dream_Inn

cls10105 said:

@LaRea. Thank you sir I did end up going with globalmarine. I really appreciate you. Thanks again!

That is great! I have no affiliation with them, but unfortunately had two claims with them and they treated me very well. I also turned a good friend to them and they had a claim and told me just tonight they were very happy with them.

Ian

Willing to share the coverage and cost?

cls10105

@icoultha of course. Hull 60k, liability 500 k, medical 5k, uninsured boater 500k, personal property $2,500, pollution spill 940k, = $744.00 per year.

Liberty44140

Not bad, I pay about $500/yr for similar coverage but higher replacement value, from Chubb (Ace). We seem to pay less up here, geography plays a big part in boat insurance. 

Ian

Thanks @cls10105, good to compare with when mine comes due in August. I’m with Allstate for all my insurances and they have been good but always good to validate cost and cover with others.