Joe, I'm pretty sure if you check, your "full coverage" has limitations as to where you are covered and under what type of operating conditions. For example, when we purchased Sea Hawk we had "full coverage" but were not covered for any type of racing. The recreational boating we were covered for was only on the inland waters of the Chesapeake Bay, Delaware Bay and associated tributaries (the policy called out the lines of demarcation), and we had a winter lay-up period of December 1st to April 1st. Since then we've moved to commercial insurance for operating the boat as a 6-Pack, we also shifted the layup period to between January 1st and April 1st. The original price was ~$800/yr, now we're ~$1300/yr.
During the delivery from NYC we needed a letter from the underwriter stating that for the purpose of delivery we could travel between certain dates and along a limited path in order to get the boat home. As for blue water and international travel I've heard that the biggest thing to do is to get the boat paid off so that keeping insurance is not required for the bank. There are companies who will provide coverage unlimited coverage but the more cost effective way to get by is to plan your trip with the insurance company and pay for the limited amount of coverage needed for the duration and location of your travel. For example, it might be $3000 to get across the Atlantic Ocean and then $1000/yr for the duration of your stay in the Med, then $3000 to get back across. Josh Muckley S/V Sea Hawk 1989 C&C 37+ Solomons, MD On Tue, Mar 31, 2020, 08:57 Joe Della Barba via CnC-List < cnc-list@cnc-list.com> wrote: > Is someone paying $3,000 for insurance? Yikes!!!!! > > I am paying about $600 for THREE boats full coverage with Progressive. > IIRC, declared value of $25K on Coquina and $1500 each for the dinghy > and the Whaler. > > Joe > > Coquina C&C 35 MK I Kent Island MD USA > > > _______________________________________________ > > Thanks everyone for supporting this list with your contributions. Each > and every one is greatly appreciated. If you want to support the list - > use PayPal to send contribution -- https://www.paypal.me/stumurray > >
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