FWIW, my premium is based on agreed value. At $40K agreed value, the premium is $716 w Progressive within 75 nautical miles. They didn't require any survey, so I save on that. I believe BoatUS requires a survery before insuring and every five years. I also get a discount for no claims for over ten years, and safe boating course. To me she's worth $70K but I'll be lucky to sell for $25K, with today's market. And that was before considering Covid-19. I probably could save some money on the premium by dropping the value, but I'm not sure I want to do that.
Chuck Scheaffer, 1989 C&C 34R, Pasadena, Md > On April 1, 2020 at 8:38 AM Joe Della Barba via CnC-List > <cnc-list@cnc-list.com> wrote: > > > All policies have some restrictions. I never had winter layup, usually > the boat gets used 12 months a year more or less. My old navigation limit > without a rider was the Chesapeake and Delaware Bays. Now I have by default > the East Coast and Gulf Coast and out 75 miles. I could pay a bit extra and > get 100 miles out for Coquina, they won't cover a 13 foot Boston Whaler past > 75 miles out for some reason LOL. I think I can add Mexico and Canada pretty > cheaply, but from the sounds of the policy they probably assume I would > trailer the Whaler there and launch it to go fishing, not sure about sailing > to Mexico from here. > > Coquina was paid off long before this list existed, so I can just take > off and not worry about insurance if I have to. > > Joe > > Coquina C&C 35 MK I Kent Island MD USA > > > On 4/1/2020 8:02 AM, Josh Muckley via CnC-List wrote: > > > > 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 mailto: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 > > > > > > > > > > > > > > > _______________________________________________ > > > > 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 > > > > > > > _______________________________________________ > > 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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