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Thread: Boat Insurance

  1. #1
    Join Date
    Dec 2010
    Location
    Ohio USA
    Posts
    9,502

    Default Boat Insurance

    I have only had small trailer sailboats that I picked up cheap on craigslist.
    These boat do have small cabins but only a trolling motor for around the ramp.
    So I every saw the need to get special boat insurance.

    This year I am looking for a larger 26 ft size sailboat with a motor and will most likely put it in a slip.
    I will still buy cheap and expect to only spend $3,000 to $5,000.

    So the questions are
    1. What type of insurance?
    I think just liability is all I need.
    2. Should I bundle it with my house and auto or go to a special boat insurance company?
    3. What do you pay for your boat insurance?

    Thanks in advance.

  2. #2
    Join Date
    Jul 2002
    Location
    Western Washington
    Posts
    2,846

    Default Re: Boat Insurance

    I've only ever wanted liability, but the policy I wound up with for the past few years has included $15,000 for hull and equipment and $250 for towing. The premium is $156 per year. I get tired of always looking for the cheapest boat insurance. My auto / home insurance company didn't have a boat policy.

  3. #3
    Join Date
    Feb 2000
    Location
    San Francisco Bay
    Posts
    11,726

    Default Re: Boat Insurance

    Check your homeowners insurance policy to see if it covers boats. Some policies do, but with size limitations, however. There may be a limitation as to trailered boats. You'll just have to check the individual policy. Ask your insurance agent, but if you do, make sure you get any confirmation that your HO policy covers your boat in writing. If you have to purchase a separate policy, I'd suggest asking around in your local boating community. There are lots of ways to minimize the cost. For example, some insurance companies give discounts to yacht club members. You will probably find that a "liability coverage only" policy will be considerably cheaper than a "comprehensive" policy that insures for damage to your own boat. That's where the insurance companies end up paying off for stuff you broke yourself!

  4. #4
    Join Date
    Apr 2015
    Location
    St. Helens, Oregon
    Posts
    1,338

    Default Re: Boat Insurance

    Also check with the marina if you plan on mooring it. Some require oil spill/environmental insurance. If you're planning on doing any racing, most clubs have a minimum liability requirement.

  5. #5
    Join Date
    Jul 2002
    Location
    Western Washington
    Posts
    2,846

    Default Re: Boat Insurance

    Quote Originally Posted by Hugh MacD View Post
    Also check with the marina if you plan on mooring it. Some require oil spill/environmental insurance. If you're planning on doing any racing, most clubs have a minimum liability requirement.
    I see my cheap policy has a limit of $939,800 for "fuel and other spill" per accident. Makes me wonder how damage from spillage is evaluated these days.

  6. #6
    Join Date
    May 2007
    Location
    Seattle
    Posts
    6,266

    Default Re: Boat Insurance

    Quote Originally Posted by Dave Wright View Post
    I see my cheap policy has a limit of $939,800 for "fuel and other spill" per accident. Makes me wonder how damage from spillage is evaluated these days.
    It's strict liability and all clean up costs and remediation expenses are considered the damages
    Elect a clown expect a circus

  7. #7

    Default Re: Boat Insurance

    I'd suggest you ensure that salvage is covered. Its a rare occurrence, but fires, failing through hulls, etc do happen and can be painful to pay for out of pocket.

  8. #8
    Join Date
    Mar 2011
    Location
    Mukilteo, WA
    Posts
    1,968

    Default Re: Boat Insurance

    Your marina will have minimum liability requirements. Probably $300k, plus a requirement for spill cleanup, and they may require being added as "additionally insured." I get mine through Boat US. It is affordable and was easy to aquire.

  9. #9
    Join Date
    Nov 2006
    Location
    Alameda, CA
    Posts
    12,188

    Default Re: Boat Insurance

    Quote Originally Posted by genglandoh View Post
    I have only had small trailer sailboats that I picked up cheap on craigslist.
    These boat do have small cabins but only a trolling motor for around the ramp.
    So I every saw the need to get special boat insurance.

    This year I am looking for a larger 26 ft size sailboat with a motor and will most likely put it in a slip.
    I will still buy cheap and expect to only spend $3,000 to $5,000.

    So the questions are
    1. What type of insurance?
    I think just liability is all I need.
    2. Should I bundle it with my house and auto or go to a special boat insurance company?
    3. What do you pay for your boat insurance?

    Thanks in advance.
    A fiberglass or composite sailboat? Progressive Insurance will run about 300 a year for liability. Perfect for marina needs. An outboard removes the threat of contamination containment - a bonus when factoring in costs. I bundle it with my USAA car policies making it quite affordable.
    A pictures is worth a thousand words but a challenging meme stumps the ignorant.

  10. #10
    Join Date
    Oct 2009
    Location
    Newport, OR
    Posts
    404

    Default Re: Boat Insurance

    Liability, wreck removal, maximum coverage for pollution insurance ($900K+) for a 42' - State Farm, $90/yr.

    I was thrilled at how good they were to work with.
    F/V No Quarter
    1973 Grand Banks 42 Troller

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