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A Guide to Sailboat Insurance

Imagine sailing freely on the open seas, wind in your hair and a sense of adventure in your heart. But amidst the exhilaration, don’t forget the importance of protecting your sailboat.

In this guide, we’ll show you how to navigate the world of sailboat insurance, helping you choose the right coverage, avoid common mistakes, and lower your premiums.

So set sail with confidence, knowing that your prized vessel is safeguarded against any unforeseen circumstances.

Table of Contents

Understanding Sailboat Insurance Coverage

You should consider reviewing your sailboat insurance coverage to ensure you’re adequately protected. As someone who values freedom and adventure, it’s important to understand the ins and outs of your insurance policy.

Finding affordable sailboat insurance can be a challenge, but with a few tips and tricks, you can secure the coverage you need without breaking the bank.

When searching for affordable sailboat insurance, start by comparing quotes from different providers. Look for companies that specialize in marine insurance as they may offer better rates and tailored coverage options. Additionally, consider bundling your sailboat insurance with other policies like auto or home insurance to potentially save money.

Understanding liability limits is crucial when it comes to sailboat insurance. Liability coverage protects you in case of accidents or injuries caused by your sailboat. It’s important to assess your risk exposure and choose liability limits that adequately protect your assets. While higher limits may come with a higher premium, they offer greater financial security.

Don’t forget to review the terms and conditions of your sailboat insurance policy. Look for any exclusions or limitations that may affect your coverage. It’s also a good idea to regularly reassess your insurance needs as your sailboat usage and value may change over time.

Types of Sailboat Insurance Policies

When considering sailboat insurance policies, it’s important to thoroughly compare and understand the different types available. Sailboat insurance provides essential protection for your vessel and yourself while out on the open water.

Here are some key types of sailboat insurance policies to consider:

Liability Limits: This type of insurance policy covers any damages or injuries caused to others while operating your sailboat. It’s important to carefully review the liability limits of each policy to ensure you have adequate coverage in the event of an accident.

Coverage Exclusions: It’s crucial to carefully review the coverage exclusions of each policy to understand what isn’t covered. Some common exclusions may include wear and tear, damage caused by improper maintenance, and acts of war or terrorism. Make sure you’re aware of these exclusions to avoid any surprises down the line.

Additional Coverage Options: Many sailboat insurance policies offer additional coverage options that you can choose from based on your specific needs. These options may include coverage for personal belongings on board, emergency towing services, and even coverage for racing events.

Factors to Consider When Choosing Sailboat Insurance

Considering the sailing conditions and intended use of your sailboat is crucial when choosing insurance coverage. There are several factors to consider when selecting sailboat insurance that will best suit your needs.

First, you need to take into account the sailing conditions you typically encounter. Are you sailing in calm waters or do you venture into rough seas? The type of coverage you choose should align with the risks associated with your sailing environment.

Second, think about the intended use of your sailboat. Do you use it for leisurely weekend trips, or do you participate in competitive racing? Different insurance policies offer varying levels of coverage for different uses.

To make it easier for you, here is a table summarizing the factors to consider when choosing sailboat insurance:

Navigating Liability Coverage for Sailboat Owners

There are several key factors to understand and navigate when it comes to liability coverage for sailboat owners, such as the amount of coverage needed and the potential risks involved. It’s important to have a clear understanding of liability limits and how they can protect you in the event of an accident.

Here are some points to consider:

Liability Limits : Determine the appropriate liability limit for your sailboat insurance policy. Higher limits provide more coverage in case of accidents or damages caused by your sailboat. It’s crucial to assess your personal risk tolerance and the potential costs associated with liability claims.

Coverage Exclusions : Familiarize yourself with the coverage exclusions in your policy. These are specific situations or events that may not be covered by your insurance. Understanding the exclusions can help you make informed decisions and potentially avoid costly surprises in the future.

Special Considerations : Take into account any special considerations related to your sailboat. For example, if you plan to charter your boat or participate in races, you may need additional coverage. Discuss these factors with your insurance provider to ensure you have the appropriate coverage for your specific needs.

Protecting Your Sailboat Against Physical Damage

To protect your sailboat against physical damage, it’s important to have insurance coverage that includes accidents and the cost of repairs.

Accidents can happen unexpectedly, whether it’s a collision with another boat or damage caused by severe weather conditions.

Coverage for Accidents

You should definitely check if your sailboat insurance policy includes coverage for accidents caused by collisions with other vessels. Accidents can happen, and the cost of repairs can add up quickly. It’s important to have the proper coverage in place to protect yourself and your investment.

Here are a few common accidents that could occur while sailing:

Collisions with other vessels: Accidents happen, and if your sailboat collides with another boat, it can result in significant damage. Make sure your insurance policy covers this type of accident.

Groundings: Running aground is a common occurrence for sailors, especially in shallow waters. If your sailboat gets stuck on a sandbar or hits a submerged object, it can cause damage to the hull and other parts of the boat.

Storm damage: Severe weather conditions can cause significant damage to your sailboat. High winds, heavy rain, and rough seas can lead to costly repairs.

Having the right insurance coverage can give you peace of mind and protect you from unexpected expenses. Take the time to review your policy and make sure you have the coverage you need.

Cost of Repair?

If your sailboat sustains physical damage, it is important to consider the cost of repair in order to make an informed decision about your insurance coverage. Understanding the cost of repairs will help you evaluate whether it is worth filing an insurance claim or paying out of pocket. To assist you in this process, here is a breakdown of the typical cost of repairs for common sailboat damages:

Specialized Coverage for Racing Sailboats

When it comes to racing sailboats, specialized coverage is essential.

Unlike regular sailboats, racing sailboats have unique policy considerations that need to be taken into account.

From coverage for regattas and races to higher premiums and deductibles, it’s important to understand the specific insurance needs of racing sailboats.

Racing Sailboat Coverage

Make sure your racing sailboat coverage includes specialized coverage for racing events. Racing sailboats require specific insurance coverage to protect against the unique risks involved in competitive sailboat events. Here are three important considerations to keep in mind when selecting your coverage:

Hull Insurance : This coverage will protect your sailboat from damage caused by accidents, such as collisions or grounding during a race.

Liability Insurance : In the fast-paced world of racing sailboats, accidents can happen. Liability insurance will cover any damages or injuries caused to others during a race.

Equipment Insurance : Racing sailboats often have specialized equipment that can be expensive to replace. Ensure your policy covers the cost of repairing or replacing your racing gear, such as sails, rigging, and instruments.

Unique Policy Considerations

There are three important policy considerations to keep in mind when selecting coverage for your racing sailboat.

First, make sure to thoroughly review the policy exclusions. These are the situations or events that your insurance company won’t cover. It’s important to understand these exclusions so that you can plan and prepare accordingly.

Second, pay close attention to the coverage limits. These limits determine the maximum amount that your insurance company will pay in the event of a claim. It’s crucial to assess these limits to ensure that they align with the potential risks and costs associated with racing sailboats.

Premiums and Deductibles

You should carefully consider the premiums and deductibles associated with specialized coverage for your racing sailboat. Sailboat insurance can provide peace of mind and financial protection in case of accidents or damage. To make the most informed decision, here are some key points to consider:

Premium discounts: Look for insurers that offer premium discounts for safety measures such as having a boating safety course, installing safety equipment, or having a clean claims history. These discounts can help reduce your overall insurance costs.

Choosing deductibles: Deductibles are the amount you pay out of pocket before your insurance coverage kicks in. Higher deductibles usually result in lower premiums, but it’s essential to ensure that you can comfortably cover the deductible amount in case of a claim.

Specialized coverage: Racing sailboats often require specialized coverage due to their unique risks. Make sure to evaluate the coverage options available for racing sailboats and choose a policy that adequately protects your investment.

Exploring Additional Coverage Options for Sailboat Insurance

Can you explain the benefits of adding additional coverage options to your sailboat insurance policy?

As a freedom-seeking sailor, you understand the importance of protecting your beloved sailboat from any unforeseen events. Exploring coverage limits and understanding policy exclusions are crucial steps in ensuring comprehensive protection.

By adding additional coverage options to your sailboat insurance policy, you gain peace of mind and the freedom to navigate the open waters without worry.

One of the main benefits of adding extra coverage is the ability to customize your policy to meet your specific needs. You can choose to enhance your coverage for damages caused by natural disasters, such as hurricanes or storms. This ensures that even in the face of nature’s fury, you’ll be financially protected.

Another important coverage option to consider is liability insurance. This protects you in the event that you cause damage to another person’s property or injure someone while operating your sailboat. By having this additional coverage, you can sail with confidence, knowing that you have the means to handle any potential liability claims.

Furthermore, adding coverage for personal belongings onboard your sailboat is essential. This protects your valuable possessions, such as electronics, navigation equipment, and personal belongings, from theft, loss, or damage.

Tips for Lowering Sailboat Insurance Premiums

If you maintain a good sailing record and take a boating safety course, you may qualify for lower sailboat insurance premiums. Here are some tips for reducing sailboat insurance costs and strategies for lowering sailboat insurance premiums:

Shop Around : Don’t settle for the first insurance provider you come across. Take the time to compare different policies and prices to find the best deal for you. Consider factors such as coverage limits, deductibles, and additional benefits.

Increase Deductibles : By opting for a higher deductible, you can lower your insurance premiums. Just make sure you have enough savings to cover the deductible in case of an accident.

Bundle Your Policies : Many insurance companies offer discounts when you bundle your sailboat insurance with other policies such as auto or home insurance. This can lead to significant savings on your premiums.

By following these tips and strategies, you can lower your sailboat insurance premiums and enjoy the freedom of sailing without breaking the bank.

The Claims Process for Sailboat Insurance

To expedite the claims process for sailboat insurance, make sure to promptly report any damages or accidents to your insurance provider. Time is of the essence when it comes to filing a claim, so don’t delay in notifying them about any incidents that occur. By doing so, you’ll help ensure that the claims process runs smoothly and efficiently.

When it comes to the claims process, it’s important to understand the timeline involved. Insurance companies typically have specific timeframes within which you’re required to report and file a claim. Familiarize yourself with these deadlines to avoid any potential complications or delays in receiving your settlement.

In addition to reporting the incident promptly, it’s crucial to gather all necessary documentation to support your claim. This may include photographs of the damage, estimates for repairs, and any relevant police or incident reports. By providing thorough documentation, you can help expedite the claims process and increase the likelihood of a favorable outcome.

Common Mistakes to Avoid When Insuring Your Sailboat

You should always carefully review your sailboat insurance policy to avoid common mistakes that could leave you underinsured in the event of an accident. Sailboat insurance is essential to protect your investment and ensure your peace of mind while out on the open water.

Here are some common mistakes to avoid:

Not understanding liability requirements : It’s crucial to familiarize yourself with the liability requirements set by your state or marina. Failure to comply with these requirements could result in legal consequences and financial burden in case of an accident.

Ignoring coverage limits : Many sailors make the mistake of overlooking the coverage limits in their policy. It’s important to know the maximum amount your insurance company will pay in the event of a claim. If your coverage limit is too low, you may end up having to pay out-of-pocket for damages or injuries.

Neglecting to update your policy : As your sailboat ages or you make modifications, it’s essential to update your insurance policy accordingly. Failing to do so may result in inadequate coverage or even denial of a claim.

By reviewing your sailboat insurance policy, understanding liability requirements, paying attention to coverage limits, and keeping your policy up to date, you can ensure that you have the right coverage in place to protect yourself, your sailboat, and your freedom on the water.

Stay safe and enjoy your adventures worry-free!

Expert Advice on Choosing the Best Sailboat Insurance Policy

When comparing sailboat insurance policies, it’s important to consult with experts who can provide guidance on finding the best coverage for your specific needs. Understanding liability and having adequate coverage for accidents are crucial aspects of sailboat insurance. You want the freedom to explore the open waters without worrying about financial burdens in case of an unfortunate incident.

To begin, liability coverage is essential because accidents can happen, even to the most experienced sailors. Imagine a scenario where your sailboat collides with another vessel, causing damage to both boats and possibly injuring individuals. Without proper liability coverage, you could be held personally responsible for the expenses, which could be financially devastating. So, make sure your policy covers liability for bodily injury and property damage.

Additionally, coverage for accidents is vital. Sailboats are susceptible to various risks, including storms, collisions, and even theft. Accidents can result in significant damage to your boat, leaving you with hefty repair or replacement costs. Having comprehensive coverage that includes accidents will ensure that you’re protected financially if the unexpected occurs.

To find the best sailboat insurance policy, consult with experts who specialize in this field. They can evaluate your needs, explain the various coverage options, and help you find a policy that provides the right protection for your sailboat adventures. Remember, the freedom to sail without worry comes from having the right insurance coverage.

Frequently Asked Questions

Can i insure my sailboat if it is older or in need of repairs.

Yes, you can insure your older sailboat or one that needs repairs. Sailboat insurance providers understand that boats age and require maintenance. They offer coverage options to protect your investment and give you peace of mind.

What Is the Difference Between Agreed Value and Actual Cash Value in Sailboat Insurance?

When it comes to sailboat insurance, understanding the difference between agreed value and actual cash value is crucial. Agreed value ensures you’ll be compensated for the agreed upon value, while actual cash value takes depreciation into account.

Are There Any Discounts Available for Sailboat Insurance if I Have Completed a Boating Safety Course?

Yes, completing a boating safety course can make you eligible for discounts on sailboat insurance. Not only will you save money, but you’ll also gain valuable knowledge that will benefit you on the water.

Does Sailboat Insurance Cover Me if I Sail in International Waters?

Does sailboat insurance cover you when sailing in international waters? You’ll be glad to know that many policies do offer coverage for international sailing, giving you the freedom to explore the open seas worry-free.

Can I Add Coverage for Personal Belongings and Equipment Stored on My Sailboat?

Yes, you can add coverage for your personal belongings and equipment stored on your sailboat. Sailboat insurance offers coverage options for personal belongings and equipment protection, giving you peace of mind while enjoying your freedom on the water.

Scott is a devoted boat enthusiast and provides invaluable insights, tips, and advice on boat insurance coverage, industry trends, and maintenance. Marine Insurance Now is the go-to resource for seasoned boat owners seeking insurance guidance and aspiring sailors embarking on nautical adventures. Scott's expertise and infectious passion make his blog a must-read for boat enthusiasts and is making waves in the boating community.

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Best Boat Insurance for 2024

Be prepared for anything before you head out on the water

Boating accidents are more common than most people realize. The United States Coast Guard counted 3,844 boating accidents in 2023 alone, which resulted in approximately $63 million of property damage and 564 fatalities. You can never predict when accidents will strike, but you can prepare yourself for any possible catastrophe by purchasing the best boat insurance for your needs.

We evaluated boat insurance policies from more than 20 nationally recognized brands to help you determine who offers the best boat insurance your money can buy before you head out on the water. After our careful analysis, we selected five companies that offer the best boat insurance.

• Best Overall: Allstate
• Progressive: Best for Cheap Boat Insurance
• Nationwide: Best for Policy Bundling
• Foremost: Best Variety of Coverage
• Markel: Best for Fishermen
• Our Top Picks
• Best for Cheap Boat Insurance
• Best for Policy Bundling
• Best Variety of Coverage
• Best for Fishermen
• See More (2)
• Compare Providers

The Bottom Line

Frequently asked questions, methodology, best overall : allstate.

Great coverage including many extras

Average national rates around $25 per month

Limited info online about restrictions and exclusions to coverage

Allstate offers a very comprehensive lineup of options for boat coverage, including:

• Watercraft liability coverage
• Property coverage
• Repair costs
• Medical payments
• Uninsured watercraft coverage
• Additional equipment and personal effects
• Trailer coverage
• Emergency services (such as towing, labor, and fuel, oil, and battery delivery)
• Agreed value

Even though Allstate offers boat coverage starting at about $25 per month, it doesn’t shy away from discounts. You may qualify for the following when you insure your boat with Allstate:

• Multiple Policy Discount – Discount when you combine your boat insurance with an Allstate homeowners policy
• Full-Pay Discount – Discount for paying your full premium upfront
• Homeownership Discount – Discount for owning a home
• Boat Education Discount – Discount when you take an approved boater safety class
• Easy Pay Plan Discount – Discount when you enroll in automatic payments

Limitations

Allstate does not disclose many limitations on its boat coverage. However, some types of coverage and discounts are not to be had in all states, so it’s best to contact a local Allstate agent to verify the availability of coverage and discounts before switching over to Allstate for your boat insurance.

Additional Perks

Allstate offers the best of both worlds to its customers: local agents to help you with your insurance needs, as well as online tools and an 800 number to get questions answered anytime.

Allstate’s website also has a lot of information and resources for boaters, which can be especially helpful to new boaters or those with limited experience in owning a boat. The company offers articles and videos on boat maintenance, dealing with accidents and other marine emergencies, and handling your boat and boat insurance during the offseason.

Progressive : Best for Cheap Boat Insurance

Rates as low as $100 per year

Wide array of coverage

Lots of available discounts

Restrictions on types of boats covered

As expected from one of the industry leaders in personal property insurance, Progressive offers all of the major coverage and more, including:

• Bodily injury and property damage liability
• Comprehensive coverage
• Collision coverage
• Uninsured/underinsured boater (UB/UIB)
• Propulsion Plus mechanical breakdown coverage (add-on, starts at $38 per year)
• Sign & Glide on-water towing (add-on, starts at $30 per year)
• Fishing equipment or carry-on items
• Water sports injury coverage
• Fuel spills and wreckage removal
• Roadside assistance and trip interruption (if you elect trailer coverage)
• Full replacement cost

You can potentially save even more with Progressive by qualifying for some of the following discounts:

• Advanced Quote Discount – For those who obtain a quote and sign up for coverage at least 24 hours before you want it to go into effect
• Transfer Discount – For those who move their boat to Progressive from another company
• Multiple Policy Discount – For those who maintain multiple types of insurance with Progressive (car, boat, motorcycle, homeowners, etc)
• Multi-boat Discount – For those who insure more than one vessel
• Association Discounts – For those who are members of the United States Coast Guard Auxiliary, United States Power Squadron, or USAA
• Original Owner Discount – If you’re the original owner of your boat
• Responsible Driver Discount – For boaters who remain accident-free on the water for at least three years
• Prompt Payment Discount – Automatically discounted so long as you pay on time
• Pay-in-Full Discount – For paying your entire premium upfront

Additionally, Progressive offers these perks that help customers save on their boat insurance over time:

• Small Accident Forgiveness – This prevents your rates from increasing if you end up in a boating accident with a claim under $500.
• Large Accident Forgiveness – This prevents your rates from increasing after an accident if you’ve previously remained accident-free for three years.
• Disappearing Deductible – Your deductible lowers by 25% for each period you remain claim-free until it finally reaches zero.

Progressive boat insurance is only available for boats up to 50 feet in length, and in some states that experience higher hurricane risks, the limitations are 35 feet and $175,000 in value.

Progressive also places some age and value restrictions on the boats it covers. For example, it will not insure the following:

• Boats up to 10 years old and worth more than $500,000
• Boats that are 11 to 20 years old and worth more than $350,000
• Boats over 20 years old and worth more than $75,000
• Boats used as a primary residence
• All houseboats
• Homemade boats without a hull identification number
• Boats with more than two owners
• Boats with steel or wood hulls
• All amphibious land boats, hovercraft, and airboats
• PWCs worth more than $27,000
• Boats that do not meet published U.S. Coast Guard standards

If you aren’t sure if your boat fits into Progressive’s coverage requirements, you should contact Progressive over the phone to ask clarification questions and obtain a quote.

Other companies place restrictions on where you can use your boat, but Progressive gives you the freedom to sail wherever you’d like on any lake or river in the United States, as well as in ocean waters within 75 miles of the coast.

Progressive also waives some requirements that other companies force on customers, such as navigation plans and marine surveys. These requirements often cost customers hundreds of dollars, which means you save even more by using Progressive.

Finally, Progressive offers a variety of online tools and features, including the Name Your Price Tool and a mobile app. These help travelers access their plans and make changes anytime.

Nationwide : Best for Policy Bundling

Multi-policy discount for those who bundle boat insurance and at least one other policy with Nationwide

Boat insurance packages to help customers save money

No online quote tool for boat insurance

Not all coverages and discounts available in all states

Nationwide offers lots of options for boat insurance coverage, including:

• Uninsured/underinsured boater
• Medical payments coverage
• Roadside assistance (for boats and trailers)
• On-water boat towing and labor
• Fishing equipment insurance
• Personal effects insurance

Furthermore, there may be additional savings on your boat insurance when you select one of Nationwide’s boat insurance packages. The company offers a wide range of packages for different types of boaters, such as:

• Weekenders – For those who simply take gear onto their boat and remove it when they’re done, Nationwide offers an affordable package that includes up to $1,000 for fishing equipment, $3,000 for personal effects, and $500 for towing.
• Overnighters – For those who take short boating trips, Nationwide offers up to $2,500 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.
• Light Tackle Anglers – For customers who own a bass boat or smaller fishing boat, Nationwide offers up to $5,000 for fishing equipment, $2,000 for personal effects, and $2,500 for towing.
• Deep Water Pros – For those who fish big waters, gulfs, bays, and oceans, Nationwide offers up to $10,000 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.

The best way to save with Nationwide is by bundling your insurance policies with them. While the company's website claims customers can save up to 20% when bundling home and auto, it does not mention specific savings on bundling another policy with your Nationwide boat insurance. However, customers who choose to bundle a boat policy with their home, auto, or life policy with Nationwide will be awarded a discount.

In general, Nationwide offers these discounts to people who insure boats:

• Multiple Policy and Multiple Boat Discounts – For those who combine home, boat, vehicle, and/or life insurance policies
• Boater Safety Course Discount – For those who complete an approved water safety course
• Diesel Fuel Discount – For those who own a diesel-powered boat
• Paid-in-full Discount – For those who pay their 12-month premium upfront
• Claims-Free Renewal Discount – For those who are claim-free during the previous year

Although Nationwide doesn’t specifically list limitations on where you can obtain its boat insurance, the company does stress that not all products and discounts are available in all states. Contact a local Nationwide agent or use the company’s website to obtain a quote before switching your boat coverage over to Nationwide.

Nationwide offers a digital experience through its website and mobile app. On the website you can take advantage of resources as well as manage your policy through the company’s customer portal.

Foremost : Best Variety of Coverage

Variety of packages and coverage options

Several great discounts

Limitations on who can receive coverage

When it comes to coverage, Foremost offers many standard coverage options, including:

• Watercraft physical damage
• Personal liability
• Uninsured watercraft
• Towing and Roadside assistance
• Personal property

Additionally, Foremost offers numerous packages that let boaters customize the coverage they receive. These include:

• Saver Package – The most affordable package includes cash value settlements in case of a total loss
• Plus Package – Includes all of the basic coverage plus agreed value/total loss replacement cost settlement, watersports liability, diminishing deductible, extended depreciation deferral, and hurricane haul-out
• Elite Package – Offers the most coverage possible, with perks such as boat lift/hoist/cradle coverage, fishing tournament fee reimbursement, pet insurance, trip interruption coverage, enhanced towing services, Bahamas and Mexico navigation coverage, extended total loss replacement, and depreciation deferral
• Pontoon and Pontoon Elite Packages – For the specific needs of pontoon boats
• Classic and Classic Elite Packages – For boats more than 25 years old
• Performance and Performance Elite Packages – For speedboats that reach speeds of 77 mph or greater
• Personal Watercraft Insurance – With features specifically tailored for personal watercraft

Foremost’s discounts include:

• Lay-Up Discount – For those who store their boat for at least three months each year
• Paid-in-Full Discount – For those who pay their entire coverage period upfront
• Boating Safety Course Discount – For those who complete an approved safety course or obtain a marine license
• Protective Device Discount – For those with boats that contain safety features (such as automatic fire extinguishing equipment, monitoring systems, an alarm system, a no-strike lightning system, a theft recovery system, dock assist, NMMA certification and/or a PWC brake system)
• Multiple Policy Discount – For those who hold more than one policy through Foremost or its partner companies (Farmers or Farmers Bristol West)
• Multiple Unit Discount – For those who insure more than one boat
• Loss Free Renewal Discount – For those who go three or more years without claims
• Insured Age Discount – For those 55 or older
• Affinity and Alliance Discount – For members of approved organizations

Although Foremost boat insurance is available in all 50 states, coverage and coverage amounts may vary by state. Foremost also limits and denies coverage based on credit scores , meaning that it may not be the best option for those with poor credit.

Foremost doesn’t offer a lot of perks, but the numerous coverage packages and discounts make it a viable choice if you want to have the ability to customize your coverage.

Markel : Best for Fishermen

Expansive coverage for fishing equipment

Savings of up to 35% with discounts including a diminishing deductible

No options to bundle with homeowners or car insurance

Markel offers boat insurance starting at just $100 per year depending on what coverage you need. Whether you’re a professional fisher or just enjoy fishing for fun, Markel offers lots of coverage, including for:

• Watercraft liability
• Agreed value watercraft and equipment
• Emergency towing
• Personal effects
• Pollution liability
• Replacement cost settlement
• Fishing equipment
• Professional angler liability
• Tournament fee reimbursement
• Crash damage
• Theft away from home
• Wreck removal

Although Markel doesn’t offer some of the discounts that larger insurance companies do, you can still save money through these discounts for:

• Multiple boats
• Outboard propulsion
• Age (when the primary operator is 40 or older)
• Diesel engines
• Experienced boaters (for those with five or more years of boating experience)
• Being accident-free (a diminishing deductible program reduces your deductible by 25% for every year that you remain accident-free until it hits zero)

Markel operates in all 50 states, but you should always consult with a customer service representative to see what boat insurance is available for you.

Additionally, Markel does not currently offer a smartphone app.

Although Markel boat insurance comes with a few limitations, there are some significant perks. For starters, the diminishing deductible program is one discount option that not all companies provide. Moreover, Markel is the only company we found that offers discounts for boaters over the age of 40, which can help older people who fish for fun save money.

The most notable perk with Markel, though, is the large amount of coverages it has as standard policy. The professional angler option provides replacement cost coverage for fishing equipment and personal items, in addition to covering the boat itself. These coverage options make Markel a standout pick for anyone who uses their boat for fishing in any capacity.

Compare Best Boat Insurance

Boat insurance protects one of your most expensive possessions and gives you peace of mind when out on the water. When selecting a policy, don’t forget to compare all the fine print and see which companies offer the best discounts and other perks to help you get the most bang for your buck.

Do I Need to Have Boat Insurance?

Though boat insurance is not required in every state, you shouldn’t go without it in most cases. If you end up in an accident or stranded out in the ocean somewhere, you’ll be glad you have it.

It’s recommended that you obtain boat insurance if you own one of the following types of boats:

• Large sailboats
• Personal watercraft (such as WaveRunners)
• Motorboats (anything that runs faster than 25 mph)

Conversely, if you’re just using a canoe, a small-engine boat, or an inexpensive boat worth less than $1,000, you may not need boat insurance.

What Should I Look for When Shopping for Boat Insurance?

There are many factors to consider when shopping for boat insurance. For starters, you’ll need to decide if you want a policy that uses an agreed value policy or an actual cash value (ACV) policy. ACV policies are typically cheaper, but they provide less payout in the event of a total loss.

Furthermore, you’ll want to look for exclusions and restrictions to boat coverage. For example, some companies will only insure boats up to a certain size, whereas others will not insure boats used for commercial purposes. Knowing the specifics of your boat and what you’ll use it for can really help you find the best policy to fit your needs.

Once you find several companies that will cover your boat, read the entire list of standard coverage inclusions and compare. Where one company may offer towing as a standard feature, another company may only offer it if you pay an extra monthly fee. Noting these small differences could really save you money.

Finally, consider a company’s reputation and the attention it gives to its boat insurance. Some specialty insurance companies focus solely on coverage for boats and other recreational vehicles, while other companies just offer boat insurance as an extra to attract more customers. Noting this can help you get the best coverage from experts who know what they’re doing when it comes to boats.

Does Homeowners Insurance Cover My Boat?

Although some homeowners insurance policies cover boats, these typically come with several limitations. In most cases homeowners policies treat your boat like any other household possession (i.e. a television or couch), meaning that your policy will only cover the boat up to a certain value (10% of your home’s insured value in most cases). What’s more, liability insurance for your boat isn’t typically included under your homeowner's insurance. This means you’d be out any liability or injury costs in the event of a boating accident.

What Does Boat Insurance Cover?

At first glance coverage for your boat may look and sound a lot like auto insurance coverage. This makes sense given that a boat is basically a car that you drive in the water.

• Bodily injury liability : Just like your car insurance policy, your boat insurance will cover costs associated with injuries you may cause others, such as medical bills, lost income, and pain and suffering.
• Property damage liability : Just as car insurance covers property damage to other vehicles and stationary objects, boat insurance also covers damage to docks and other boats.
• Collision coverage : Collision coverage is usually an optional coverage for cars, and it’s the same for boats. This type of insurance covers repairs and replacement of your own boat in the event of an accident. As with any other policy, though, always read the fine print on collision coverage; not all insurance providers will cover your boat if it sinks.
• Comprehensive coverage : Comprehensive coverage protects your boat against all non-accident-related damage to your boats, such as theft, vandalism, and other potential hazards.
• Umbrella coverage : In most cases, your insurance company will only insure your boat if you or other listed drivers on your policy are driving the boat. However, the exception to this rule is an umbrella policy . If you obtain this type of coverage, any driver is covered unless they are specifically excluded from the policy.
• Additional types of coverage : Depending on the insurance company and the policy you select, you may also receive coverage for medical payments, roadside assistance, wreckage removal, watersports, fuel spills, carry-on items, fishing equipment, trip interruption, uninsured boater, trailers, and towing (both for the boat on a trailer and in the water).

When selecting the best boat insurance providers, we compared policies and discounts for more than 20 nationally recognized insurance companies that offer boat policies. We also looked at each company’s financial strength, customer satisfaction ratings, and reviews. We feel confident that our evaluations provide a useful guide to help you select a boat insurance company, but we always encourage you to shop around and compare quotes before signing on the dotted line for any insurance policy.

Thomas Barwick / Getty Images

United States Coast Guard. “ Coast Guard Releases 2023 Recreational Boating Statistics .”

Insurance Information Institute. “ Boat Insurance and Safety .“

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What to Know About the Latest Social Security Number Breach

Hackers may have gained access to the private information of millions of people from a background check company called National Public Data. Should you be worried? We have some advice.

By Ron Lieber

Ron Lieber covered the 2017 Equifax breach while fleeing from a hurricane .

The details are murky. In April, Hackmanac, a cybersecurity company, posted on X that about 2.9 billion records of personal data were for sale, from people in the United States, Canada and Britain. The data was supposedly stolen from National Public Data , a company that does background checks.

That company became the target of a class-action suit, which Bloomberg Law recently reported, contending that thieves got Social Security numbers in the breach. Bleeping Computer, a technology and security publication, rounded up reports of hackers leaking batches of the data.

We may never know the extent of the breach and the subsequent leak. But I’m not sure the details matter much.

Security breaches happen all the time. Thieves frequently find vulnerabilities in large systems and exploit them.

Our lack of data privacy and security is intensely hateful, but in the short and medium term, the only thing we can do is lock ourselves down as best we can.

Here are some reminders about how to do it.

Control Anxiety

Remember, some thieves steal simply because they can. If they don’t try to use stolen information, you don’t have a problem.

More nefarious crooks need to know how to use the data against whatever aggressive defenses exist at, say, a bank. Often, they fail.

Or they may try to sell the data. A market may not exist, so the stolen information languishes. If a sale does happen, the data might turn out to be outdated.

Also, the buyers may be state actors. If you’re not a likely target of blackmail or in possession of interesting secrets, they may have the goods on you but not want to use them.

Freeze Your Credit

The kind of identity theft where someone pretends to be you and uses your Social Security number to open new accounts can be damaging. One good defense is to freeze your credit files with the three big consumer credit reporting agencies, Equifax , Experian and TransUnion .

Credit card issuers, mobile phone companies and the like generally won’t open new accounts if they can’t check your credit. If you have frozen your credit, someone trying to open an account in your name at a new company won’t be able to proceed.

And if you need to open a new account yourself? You get a PIN when you freeze your file with each of the three companies and use it to thaw the file when someone needs to examine it. Don’t lose the PIN or chaos can ensue.

This is a pain, but I’ve done it for years and have heard only sporadic tales of people being unable to thaw their files when they need to. I’ve also set freezes up for my minor children .

Other Measures

Set up two-factor authentication on as many online accounts as possible, or use an authentication app to secure your online accounts. If thieves haven’t intercepted your email, text messages or phone, then it’s going to be hard for them to break in.

Account alerts are your friend. Depending on your bank or card company, you can set them up for many things, including any charge outside your home country, any (or all) A.T.M. withdrawals or transactions over a certain amount.

If you get an alert you didn’t expect — or even one you did — don’t click links or call phone numbers in the alert. Instead, log into the account in question and find a contact number there. That will keep thieves from redirecting you to their own operations.

Take the Compensation

I’m not confident we’ll ever live in a fraud-free world. Until one exists, I take some joy in accepting compensation from companies that have messed up.

I have cashed settlement checks from various class-action suits. The offers come so fast and furious in the mail these days that I can’t even remember them a week later. What did I send off earlier this month? A request to join the fight against Ticketmaster ? Quest Diagnostics ? There have been many recently.

Thieves don’t want us to gum up the works. Credit bureaus don’t like to slow down the system, either. Counteracting them and cashing in when money is on the table is some measure of revenge, or at least a way to protest the absurd security status quo.

Ron Lieber has been the Your Money columnist since 2008 and has written five books, most recently “The Price You Pay for College.” More about Ron Lieber

A Guide to Better Managing Your Money

Making sense of your finances can be complicated. these tips can help..

The collapse of a little-known intermediary named Synapse Financial Technologies has put a spotlight on the risk that customers face  when using popular banking start-ups.

A growing number of Americans who need cash before their next payday are using online paycheck advances. But the fees that often come with the advances are drawing scrutiny from a federal consumer watchdog. Here’s what to know .

With traditional mortgages for lower-priced homes hard to get, some home buyers are turning to riskier alternatives , like seller-financed loans known as “land contracts” that don’t involve a bank.

Here’s what experts say are the three biggest mistakes people make with their 401(k)  — and how to get back on course.

Financial regulators and consumer advocates frown upon using credit cards to pay off installment loans because of the risk  that consumers will dig themselves further into debt.

Average Sailboat Insurance Cost

Last Updated by

Daniel Wade

June 15, 2022

‍ Sailboat insurance is often less expensive than auto insurance, but rates vary based on several important factors.

Sailboat owners typically pay between $250 and $1,500 per year to insure their sailboats. This cost varies based on a number of factors, including policy type and coverage amounts. Sailboats are usually less expensive to insure than powerboats.

In this article, we’ll go over the average costs of sailboat insurance for typical production fiberglass cruising vessels. Additionally, we’ll go in-depth on the factors that contribute to premiums, along with how to reduce the cost of a good sailboat insurance policy.

We sourced the information used in this article from our own analysis of insurance industry averages. We also considered information provided by boat insurance companies, along with the policies they advertise.

Table of contents

‍ Average Annual Sailboat Insurance Price

Sailboat insurance varies, but owners rarely pay more than $1,000 annually for basic coverage. This is considering that the vast majority of sailboats are fiberglass production cruisers between 20 and 40 feet in length, and they aren’t used as often as automobiles.

Sailboat insurance prices range between $250 per year for the most basic coverage (liability, small boats with infrequent use) to $1,500 for comprehensive coverage (average-sized older vessel with somewhat regular use).

But if we were to establish a general rule about sailboat insurance, it’s this: it’s cheaper than car insurance. Sailboat insurance is usually an insignificant cost compared to mooring fees and maintenance.

Is Sailboat Insurance Cheaper than Powerboat Insurance?

Yes, sailboat insurance is usually cheaper than powerboat insurance, even if your vessel comes with an engine. This has a lot to do with speed, power, and accident rates.

Speedboats are particularly expensive to insure, as they’re more dangerous and accident-prone. The cost to insure a small speedboat is often comparable to a large sailboat.

Types of Sailboat Insurance Coverage

There are several types of coverage with different pricing rates. The actual name of these different coverage types varies between companies. But generally speaking, here are the broad types of insurance that you can get for your sailboat.

Basic Liability and Salvage Coverage

The most inexpensive coverage is basic liability, which usually covers accidents you cause only. It doesn’t cover your repair costs, but it does cover damage to other boats, medical expenses for injuries, and wreck removal.

Specialized or Custom Coverage

Specialized coverage varies most in price. This kind of coverage is determined by the owner and covers modifications and expensive equipment.

Let’s say a sailboat owner buys a basic new Catalina 315, then outfits it for offshore use. He installs solar panels, an autopilot, a Garmin radar set, and a costly set of automatic winches and hardware.

With a specialized insurance coverage plan, he can add the value of these very specific items to his repair and replacement plan in case the boat gets damaged or lost along the way.

Comprehensive Coverage

Comprehensive plans offer significantly more coverage. These policies offer towing services, damage costs for you and other boats, uninsured boater protection, repairs and replacement parts, and emergency assistance for things like dead batteries and running out of gas.

What Factors Contribute to Sailboat Insurance Premiums?

Sailboat insurance works much like car insurance, but there are some differences. Like car insurance, sailboat insurance premiums are based on factors including your accident record, the value of your boat, your location, and how often you use the vessel.

Operator Boating Record

Citations and accidents are some of the most important insurance cost factors. This makes sense, as a long history of responsible boating reduces the risk that the company will have to payout.

A minor incident won’t ruin your premiums, but a history of crashes and BWIs will certainly limit your options and increase sailboat insurance prices.

Experience plays a role as well. Documented boating experience, such as policies on other vessels or professional captain certifications, can greatly reduce the cost of sailboat insurance.

Operator Age

Age is another important factor for insurance premium prices. The ages that get the best rates are between 50 and 60. If you look at it on a chart, you’ll see insurance rates top out around age 16 and slowly decline until age 70. At this point, insurance rates begin to increase—but never to the level of a young person.

Sailboat Value

The value of your sailboat also plays a big part in your insurance costs. For example, a $500,000 classical schooner is certainly going to cost more to insure than a clunky $10,000 fiberglass sloop, especially because the owners of more expensive boats generally opt for more coverage.

Agreed Value vs. Actual Value

How does an insurance company decide what to pay out if your boat is a total loss? There are two primary ways these policies work: with either agreed value or actual value.

 Actual value policies are common for new boats, as their value is easy to determine. If a new (or late-model) boat is worth $150,000, then that’s the cost the insurance company will usually cover to replace the vessel.

Agreed value is more common for older and classic boats, as the procedures used to calculate their value aren’t always reliable. Factors such as rarity, design, desirability, and condition may not reflect clearly in analytics—but do on the market.

Agreed value is a number that the owner and the company settle on. It is more holistic than the actual value, as the actual value may be impossible to accurately calculate for some rare and vintage vessels.

Sailboat Age

The age of the vessel has an impact on insurance rates. Usually, an older vessel is thought to be less valuable to a point. This means that a 1970 sailboat is usually cheaper to insure than a 1990 sailboat. The cost difference can be negligible beyond ten years of age, but it’s higher with late-model vessels.

Sailboat Type

Different kinds of sailboats have different insurance rates. Factors under this category include a number of hulls, size, displacement, and cruising characteristics. For example, speedy trick race boats made with carbon fiber are more expensive to insure than bulky fiberglass cruisers.

Location plays a big part in average sailboat insurance costs for a number of reasons. For example, sailboats used in freshwater are typically cheaper to insure than saltwater.

Also, sailboats moored in areas prone to severe weather tend to have higher insurance premiums. For example, premiums in Florida or South Texas account for hurricanes, while premiums in central Oklahoma account for large hail.

Does Your Driving Record Affect Average Sailboat Insurance Cost?

Absolutely; your driving record can have a dramatic effect on your ability to find favorable sailboat insurance rates. This is because insurance needs to consider you and the boat—and how risky you (as a captain) are to insure.

Car accidents, moving violations, citations, and DUIs are detrimental to insurance premiums on and off the water. And they will find out, regardless of what company you choose. Risky drivers are almost always risky boaters as well.

But your driving record can also work in your favor. You may be a new boater who hasn’t had a chance to prove yourself yet. If sailboat insurance and auto insurance had no correlation, you’d be treated like a brand new driver for years, even if you’ve had experience. A safe driving record can reduce your costs and increase coverage options.

Does Liveaboard Sailboat Insurance Cost More?

Yes, liveaboard insurance tends to cost more. This is because you’re on the boat constantly and engaged in activities like cooking, bathing, and electricity use. All of these activities carry risks, which must be considered.

Additionally, liveaboard insurance policies can cover more than typical comprehensive coverage. This includes assets inside the sailboat, such as furnishings, computers, equipment, and other possessions.

Average Sailboat Insurance Costs Differences For Men and Women

Insurance companies consider risk on a wide scale, and they notice trends that are large enough to make a cost difference. One pricing factor to consider is that, after age 27, men tend to pay higher insurance premiums than women.

There’s a simple reason for this—men crash and commit violations more often. Insurance companies have found that, on average, men are more likely to engage in dangerous boating behavior, and thus they are riskier to insure.

The price difference is typically pretty small—between $10 and $100—but this gap widens with accidents, DUIs, and other detrimental incidents. Generally speaking, women can enjoy lower quotes and lower premiums if they have a clean driving and boating record.

How to Reduce Sailboat Insurance Premiums

Reducing your premiums is actually fairly simple, and there are strategies that take only a few hours to complete. The easiest way to reduce your sailboat insurance premiums is to take a boater’s safety course or to get your boating license, even if you’re not required to by law.

You can also reduce your premiums by increasing your hull deductible. This strategy will cost you more out of pocket in the event of an accident, but safe boaters can usually contend with the risk.

Seasonal insurance rates can also be reduced if you haul your boat out or winterize it correctly. If the boat sits in storage for six months of the year, like in a dry slip or a boatyard, you can usually get a pretty hefty winter discount.

Related Articles

I've personally had thousands of questions about sailing and sailboats over the years. As I learn and experience sailing, and the community, I share the answers that work and make sense to me, here on Life of Sailing.

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Boat insurance - experience?

• Thread starter danond
• Start date Aug 1, 2008

Lieutenant Junior Grade

• Aug 1, 2008

How many of you have boat insurance, and of those who do and have had to use it, what was your experience? I didn't even know it existed until this year. I just called and it's dirt cheap, $150/year for my craft. Have any of you had a blown drive covered, or something major? How did it go?  

Lieutenant Commander

Re: Boat insurance - experience? God...I sure as heck hope we ALL have boat insurance! And I'm not talking about worrying about insuring an older inexpensive boat...that's very optional. But I'm talking about boaters liability insurance. Isn't that law almost everywhere anyway? Maybe not...but I sure wouldn't go out without it. I assure you your homeowners or auto insurance policy won't cover a boat accident (unless you pay extra for an endorsement at some companies). So if you don't have boat liability insurance, buy it TODAY! God forbid you accidentally run over a child swimming or a downed skiier in the lake that you didn't see, you will likely be sued for everything you own...and lose it all. Mine is thru American Family Insurance. $116/year for full coverage including $100K/$300K liability, medical payments, and boat damage with $500 deductible, for a 1992 18 foot runabout. On top of that I have a $2 million umbrella policy that takes over in the case that my liability limits are exhausted (would YOU settle for a mere $100,000 if you witnessed your child being shredded to death by another person's propeller?) Most wouldn't. So the extra $2 million protects me from losing my entire financial life in the horrifying situation that I accidentally do such a thing to somebody else. The umbrella costs about another $150/year, and it puts a $2M liability coverage on all of my cars, boat, snowmobiles, motorcycle, and homeowners liability policies. As far as I'm concerned, anyone who actually has something to lose (like a home and a 401K account?) NEEDS a policy like that. I had one claim a couple years back...a strange one. I crashed hard while waterskiing (picture a 60 mph bellyflop into the water while I was shooting over wakes on a slalom...the boat itself did nothing wrong and hit nothing. I just fell.) I broke some ribs. A friend was driving the boat at the time...no fault of his at all. I just fell badly. Initially my health insurance paid for my xrays and doctor visits, but later I got a notice from them that basically said "if you have boat insurance, please provide us with your policy number, as we'd like to ask them to reimburse us for what we paid to handle your injury." So I filed a claim and gave copies of all my doctors bills to the boat insurance company. American Family reimbursed my health insurance company 100% immediately. They even later sent me a $40 check to reimburse me after they noticed I paid two doctor visit copayments...and I didn't even ask them to! No deductible. That was a very legitimate medical payments claim that should have been paid by my boat policy all along. My rates never changed. I was, and still am, pleased with 'em.  

Re: Boat insurance - experience? I'm getting it on Monday, no doubt. Granted, covering crazy bodily injury accidents that can happen is a big deal, I guess for whatever reason it's just something that never came up for me, and since it's not required in North Dakota (neither is a title for the boat, physical ownership is 9/10th's the law). Call me stupid and let's move on. I'm wondering, I hear about people spending huge $ fixing their blown drive systems or they spin bearings in the engine, etc. Basically any big, mechanical failure: Does it cover that stuff, too? I asked them if it did, they said yes, though I haven't seen paperwork or read any fine print so I'm still skeptical. It would be GREAT if it does. I'm always so damned paranoid about "improper, sudden removal" of the lower unit.  

modernrocketry

Petty officer 2nd class.

Re: Boat insurance - experience? I have 2 boats insured with BoatUS: 1. 41' Roughwater Pilothouse motoryacht Diesel powered -- Southern California Coastal waters it runs be $1200.00 per year with 1M\500k liability 2. 14' Novurania RIB with OMC 115hp TurboJet drive it runs $230.00 per year with 500K/250k liability both boats have full coverage with an agreed hull value. I contact State Farm about insuring the Novurania (they don't insure diesel boats in California) even with Multi-policy discount -- I have Car and Home with them -- they were higher than BoatUS I have heard that blue water boats (ocean going) in hurricane areas rates are getting crazy.  

DRIFTER_016

Petty officer 1st class.

Vice Admiral

Re: Boat insurance - experience? I have rider on my house insurance, doesn't cover breakage to my boat but if I should hit someone else I am covered.  

triumphrick

Re: Boat insurance - experience? Years ago while cruising in the shallows I snagged a crab trap that seized my lower unit and threw a rod in my old Merc 100. Allstate paid $800 for that claim without an increase in the policy. I have been with them for years and have never filed another claim. The total cost on this older rig is $162 a year.  

Re: Boat insurance - experience? A regular mechanical failure and they are not going to pay. If you hit something, run aground, etc. insurance will pay. You choose to not maintain your boat and the block freezes in January or the engine overheats because the impeller died then you are on your own.  

danond said: I'm wondering, I hear about people spending huge $ fixing their blown drive systems or they spin bearings in the engine, etc. Basically any big, mechanical failure: Does it cover that stuff, too? I asked them if it did, they said yes, though I haven't seen paperwork or read any fine print so I'm still skeptical. It would be GREAT if it does. I'm always so damned paranoid about "improper, sudden removal" of the lower unit. Click to expand...

modernrocketry said: I have 2 boats insured with BoatUS: I contact State Farm about insuring the Novurania (they don't insure diesel boats in California) even with Multi-policy discount -- I have Car and Home with them -- they were higher than BoatUS I have heard that blue water boats (ocean going) in hurricane areas rates are getting crazy. Click to expand...

Re: Boat insurance - experience? State Farm is who I called. I'll post an update on Monday after I get a copy of the policy. Edit: it was Allstate, not state farm, and it appears they do have the "only if it's a racoon" style policy.  

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> > Please support our sponsors and let them know you heard about their products on Cruisers Forums. 04-01-2023, 08:57   Boat: Charley Morgan 38 residency in Reno, NV. I'm retired and my husband works online, so we're able to maintain our and insurace. We're currently under to a documented 1981 36 ft , on which we plan to live for at least 8 months out of the year. We intend to spend the first one or two seasons on the , going up and down from NC all the way down to the . After that, who knows? It didn't take long to discover that insuring the in FL is an expensive complicated PITA and in fact, many companies just won't do it because of the age and length of the . I'm currently looking at GA, SC and GA. So how do y'all handle this? What companies are you using that will insure a 41 year old 36 ft sailboat? Did you register in your home state and, if you're landlocked (like NV) can you insure it there, too? How did you choose your location when it comes to where your boat will spend the majority of its time if you're not, in fact, staying in one place more than a couple months at a time? TIA for your insight! 04-01-2023, 09:18   Boat: Antares GT 44 . Try that and see if that helps 04-01-2023, 09:37   cared more about where the boat lived (which is not in the same state as where we live). We're pretty much based in one place so can't help with the other questions. 04-01-2023, 09:42   where you keep the boat for the majority of the time... JEB 04-01-2023, 12:23   Boat: Leopard 40 2009 insurance to do the searching for you. They are largely paid by the insurance carrier, not (directly) by you so there's minimum risk. They can also help with what you need to tell the insurance carrier for the breaks. If you intend to be north of Hatteras during June 1 - Nov 1, for instance, the rates are much different due to hurricanes. Most insurance companies will not coach you to add an itinerary or say that on your app, they just it in or deny you. Step 2 - come up with a home port (easier said than done) as insurance companies just do not understand the of . They want a marina address. I don't know if they ever check that you have a with that marina, but they really want a land address. Better to trust the man who is frequently in error than the one who is never in doubt." -- Eric Sevareid 04-01-2023, 12:41   in a secure yard that is away from / storm damage, especially if you are going to be away. Give the insurance company all of the details of your use as the policy will be issued based on specific factual representation. If the use is other than what you have represented [and warranted] you may find that the policy is cancelled not just in the future but from ab initio. Obtaining value insurance for an old boat will be harder and definitely will be impacted if the vessel is to be in the zone, [south of Cape Hatteras] during the season. Named storm damage coverage typically comes with substantial deductibles, 10+%, if you can obtain such. Wishing Happy New Year and Bon Voyages. 04-01-2023, 12:43   Boat: Pearson 323, Tayana V42CC will want 300K or more coverage for or if you also want to insure the boat itself against loss. If you want only liability the insurance is fairly easy to come by. At 41 years old and 36 feet you may indeed find insurance of any kind is hard to come by. Or a Marina that wants you. Try boat insurance brokers who may be able to help you. You might want to look at Boat US (which you should consider joining just for the towing package) and or Geico. I use Insurance in Seabrook TX with good results. Dave Homer is who you want to speak with. (281) 291-9414 He got good coverage on my 1985 Tayana V42. I have a 1980 323 that is insured with Geico. A lot of insurance companies will want you north of NC or even GA during hurricane season. Insurance for areas like or further North may be a bit cheaper. Be aware you may need a with any insurer if you want anything more than liability. 04-01-2023, 17:04   Boat: 1980 Gulfstar 47 Sailmaster in a marina year round in when not cruising the . It is insured through BoatUS/Geico, with whom we’ve had continuous coverage on a number of since the early 1980s. But think only a matter of time before Geico cancels due to age of the boat and being in . Have shopped around for other insurance providers just in case and finding only company interested in an older boat in year round in Florida is American Modern who I never heard of (and have no confidence in). So think those of us with older in Florida will see some challenging times to obtain and retain insurance. May force us to a liability only policy. 04-01-2023, 18:22   So think those of us with older boats in Florida will see some challenging times to obtain and retain insurance. May force us to a liability only policy. 04-01-2023, 18:51   Boat: 1980 Gulfstar 47 Sailmaster Home Insurance Company – Does business as AFH Insurance Company in California. American Southern Home Insurance Company American Modern Lloyds Insurance Company American Modern Select Insurance Company American Western Home Insurance Company - Primarily writes non-admitted business. American Modern Insurance Company of Florida, Inc. - Used only in Florida for some personal lines programs. American Modern Surplus Lines Insurance Company - Used in many states for non-admitted business. American Modern Property and Casualty Insurance Company 04-01-2023, 22:40   Boat: Bavaria 35E of a marine insurance . As a retired yacht broker, I highly recommend Peter Ricks at Novamar Yacht Insurance (a large international brokerage working with many A+ carriers). Peter is at the office but works throughout the US: (206) 350-5051. 05-01-2023, 08:26   Boat: Camper & Nicholson58 Ketch - ROXY Traverse City, Michigan No.668283 where you keep the boat for the majority of the time... JEB 05-01-2023, 09:44   05-01-2023, 10:03   Boat: Bruce Bingham Christina 49 the annual water use stickers are . Go on line and hunt for this option. Many offices are unaware. Florida sales tax is unavoidable, I think 6% cruising, check out ANJO Some homeowners providers can add your boat on. For an older boat of that size hull insurance is arguably optional. Go for liability only. 05-01-2023, 10:17   residency in Reno, NV. I'm retired and my husband works online, so we're able to maintain our and insurace. We're currently under contract to a documented 1981 36 ft , on which we plan to live for at least 8 months out of the year. We intend to spend the first one or two seasons on the , going up and down from NC all the way down to the Bahamas. After that, who knows? It didn't take long to discover that insuring the boat in FL is an expensive complicated PITA and in fact, many companies just won't do it because of the age and length of the boat. I'm currently looking at GA, SC and GA. So how do y'all handle this? What insurance companies are you using that will insure a 41 year old 36 ft sailboat? Did you register in your home state then needs to be changed. Principal place of use, is where the vessel will reside the most and "most" can change if the vessel goes wondering about. Some States provide for titling and for , other States only provide for registration; 50 States, 50 sets of law. If you enter the territory of a State, you need to become knowledgeable of that specific State's laws and requirements. If registration changes then the insurance underwriter needs [reads must] be promptly notified and the policy may be amended or cancelled depending on the underwriters willingness and / or their legal ability to due business in the new State. The home state for a vessel is almost always similar to say the home state for a vehicle's registration and , and / or the home state for issuance of a driver's as to determination of establishing the Principal State of Use. If you spend more then 60 or 90 days in a new State you typically are required to obtain a new registration for your vehicle and to obtain a new driver's license. States typically have the same agency handle vehicle and vessel registrations. If you intend to depart the then you should consider documenting your vessel with the US Coast Guard so that it will be granted nationality [flagged] and be allowed to wear the flag and be provided the coverage of USA maritime law. A vessel that is documented may also require State registration if the vessel establishes a State as the State of Principal Use. Again each State has its own registration requirements, including how they deal with documented vessels or vessels registered in other States or countries. A documented vessel will not be titled by a State. A vessel is either documented [Federal government] or titled, if a State is a titling State, but is not allowed to be documented and titled at the same time. and, if you're landlocked (like NV) can you insure it there, too? How did you choose your location when it comes to where your boat will spend the majority of its time if you're not, in fact, staying in one place more than a couple months at a time? and in more temperate / tropical climates, so cruising boats tend to migrate with the seasons. An insurance policy will be explicit as to the terms of coverage, for example, requiring the vessel to be out of harm's way out of the hurricane zone, during the season, or it may only cover coastal voyages [remaining within 100 miles of the coast] or it may require not leaving the territorial waters of a nation, or group of nations, e.g., the EU, and it may not provide coverage for specific nations, e.g., . So I recommend that you begin with determining where YOU desire to be located during each season of the year and when you will desire to depart your vessel and where you will have the vessel stored when you are away, then with the insurers to provide terms of coverage for fulfilling your desires, that can involve negotiation and compromising. By way of example, a policy may not provide for hull value coverage if the vessel remains in the hurricane zone during hurricane season, or it may have a large deductible for damage caused by a named storm, etc. The devil is in the explicit and complex details of insurance policy underwriting as one has to identify the risks that one desires to have provide risk transfer and financial protection. The underwriter in turn will propose a cost / for which they are willing to contract to have such risk transfer assigned to them. One is typically dealing with substantial values of risk transfer so expect that the contract will be inherently complex and specific when you read through the policy terms, each of the terms are negotiable. TIA for your insight! Thread Tools Rate This Thread : Posting Rules post new threads post replies post attachments edit your posts is are code is are are are Similar Threads Thread Thread Starter Forum Replies Last Post cyclepro General Sailing Forum 48 03-02-2022 10:08 tmoandj General Sailing Forum 25 06-09-2021 08:29 thinwater Construction, Maintenance & Refit 178 13-12-2018 08:32 Arcticsailor Dollars & Cents 0 17-03-2014 09:56 Trish Affleck Rules of the Road, Regulations & Red Tape 1 01-04-2013 00:28 No Threads to Display. - - - - - - - Privacy Guaranteed - your email is never shared with anyone, opt out any time. Deion Sanders asked for investigation of son's bankruptcy case: Here's what we found Five different agencies or institutions looked into the incident that led deion sanders' son shilo into bankruptcy last year. this is what they found.. In response to a question last month about his son’s ongoing bankruptcy case , Colorado football coach Deion Sanders made a request to the USA TODAY Sports reporter who asked him about it. “I want you to do this for me,” the Pro Football Hall of Famer said then . “I want you to do your homework and do a whole investigation on that and then write that. I mean the whole complete investigation on what truly happened.” USA TODAY Sports already had been doing that and previously published other reports about it and the incident that led to it in 2015. But in response to Sanders’ urging, USA TODAY Sports reexamined records and sought further information from officials who looked into the case involving his son, Shilo, who filed for bankruptcy last October with more than $11 million in debt. As a result, USA TODAY Sports found that at least five agencies or institutions with access to witnesses and evidence in the 2015 case made conclusions about it – Dallas police, Shilo’s school, an insurance company, Texas child protective services and a civil court in Dallas. What did those agencies and institutions conclude? None of them favored Shilo Sanders, now a standout safety for his father at Colorado . Four of those five official inquiries instead favored John Darjean, the school security guard who claimed he suffered permanent and severe spinal and nerve injuries after Shilo allegedly assaulted him in 2015 , when Shilo was a 15-year-old ninth grader at FOCUS Academies in Dallas. The other of those five investigations initially sided with Shilo but then obtained information that forced it to reverse its conclusion and instead ruled that fault was “unable to be determined.” OPINION: Confrontational. Defensive. Unnecessary. Deion Sanders' act is wearing thin. MORE: Shilo Sanders' bankruptcy case reaches 'impasse' over NIL information for CU star USA TODAY Sports also solicited further clarification from Shilo’s attorney in Texas but didn’t get a response. Below is a summary of how each of the five inquiries ended up after Darjean said Shilo threw a roundhouse elbow into his upper torso when Darjean was trying to confiscate his phone at school. Darjean sued Shilo in civil court to recover for his injuries and won a default judgment of $11.89 million in 2022 – a massive debt for Shilo that led him to file for bankruptcy in hopes of eliminating it. The bankruptcy case remains pending and still could hinge on that incident in 2015 .  Deion Sanders has said Darjean’s claims are false and portrayed it as a money grab. Shilo Sanders said he acted in self-defense after Darjean assaulted him. Shilo’s attorneys also have questioned whether Darjean’s injuries were pre-existing. All the news on and off the field: Sign up for USA TODAY's Sports newsletter. What Dallas police said about the Shilo Sanders case Dallas police provided this information when asked about it by USA TODAY Sports. “On September 17, 2015 at about 11:55 AM, Dallas police responded to a call for service in the 2500 block of W Ledbetter Drive. The preliminary investigation determined a security officer and teen were in an argument when the teen hit the security officer. Dallas Fire Rescue responded and transported the security officer to a local hospital for further medical treatment.” Dallas police said the incident was referred to a grand jury, but there is no public record of any criminal charge or indictment. Court records show that a day after that incident, Shilo Sanders was involved in a separate incident at school with another student and was taken that day to a juvenile detention center in Dallas. Court records also show Darjean underwent spinal surgery a few days after the incident. What the school found Darjean initially was suspended with pay pending the outcome of an internal investigation. Five days after the incident, the CEO and founder of the school, Leroy McClure, wrote a letter to Darjean saying the suspension was being lifted and Darjean was being reinstated effectively immediately. “Video evidence supports your statement and the statement of the nearest employee in the area,” the school’s findings stated in the letter. “You were trying to take the student’s cell phone away from him. You were struck in the upper chest area by the student’s elbow. You then attempted to restrain the student against the wall. The student pushed back against you, moving both of you back off the wall. You attempted to restrain the student a second time against the wall and then moved the student to the floor to restrain him. At that point other employees entered the area to assist.” It’s not clear what video evidence was used to clear Darjean. In 2016, TMZ published some security video evidence that only shows a part of the incident . But Darjean has said there was other video evidence that supports him – video that was deleted by a computer technician around the same time that Deion Sanders approached that technician to obtain it. USA TODAY Sports recently contacted McClure, the school CEO, and asked what the video showed. “I would have to refer you back to the letter I signed back in 2015,” McClure said. “Yes I did my due diligence in looking at different angles before I signed the letter.   I have nothing to add nor delete from the letter.  The signed letter stands on its own.   I have no idea where the video may be.” What Texas child protection services found The Texas Department of Family and Protective Services got involved in this case to determine if Shilo Sanders had been abused as a minor at school. On Oct. 30, 2015, the agency initially found that there was “reason to believe” that abuse or neglect had occurred against Shilo in this case based on a preponderance of the evidence. In February, Shilo Sanders’ attorneys in bankruptcy court even used this initial ruling to try to convince a judge to dismiss Darjean’s complaint against Sanders there. But that initial ruling was not the final word in that case and was based largely on false information from two school officials who said Darjean was being fired over the incident, according to court records. McClure, the school CEO, testified in a pretrial deposition afterwards that Darjean never was terminated and that this false information came from two officials who had personal conflicts with Darjean and hadn’t been authorized to make such determinations. McClure also testified that he considered the two school officials to be a “liability,” and both were let go from the school in 2016. Records obtained by USA TODAY Sports show that the agency’s initial ruling then was reversed after two additional witness statements were obtained that corroborated Darjean. As a result, the disposition of the case was changed to “Unable to be Determined.” Another odd twist is that Deion Sanders initially told the agency’s investigator, Jordan Ham, that he didn’t suspect Darjean used excessive force in restraining Shilo and that he thought Darjean handled the situation appropriately, according to court records. He said so 12 days after the incident in the presence of his attorney, according to Ham. But Deion Sanders later disavowed that, saying he didn’t witness the incident and couldn’t have known. What workers comp insurance found Employees can file a workers compensation insurance claim when injured on the job to help pay for medical bills and a portion of lost wages. But such claims are not automatically approved for benefits. The insurance company can investigate to make sure the claim is legitimate and also can deny a claim if it finds that the injury was caused by the employee’s attempt to “unlawfully injure another person,” according to Texas law. That is not what the insurance company found in Darjean’s case. An independent doctor reviewed his medical records and determined he had compensable injuries. The company also obtained records from the school about what happened. “As a result of the filing of the workers’ compensation claim, Utica National Insurance Company paid both medical benefits to or on behalf of John Darjean and indemnity benefits,” said a sworn affidavit from the company’s custodian of records from July 2021. The affidavit said the company had paid $112,000 in medical benefits at that time, plus $99,000 in indemnity benefits. The doctor did note a pre-existing condition with Darjean, who had undergone another surgery before the incident, in 2014. But he said the injury from the incident in 2015 made his physical condition far worse. “The accident resulted in cervical myelopathy and cervical cord compression and urine incontinence because there was a spinal stenosis,” the doctor wrote to the Texas Department of Insurance in 2016. “In other words, there was what l would call an aggravation of a pre-existing condition.” What the civil court found Darjean initially sued Shilo and both of his parents in 2016, but by early 2019, both parents had been dropped from the lawsuit, leaving Shilo as the sole remaining defendant in 2019, when he went to college as a freshman at South Carolina. At that point, Shilo had defended himself in the lawsuit for years. He even had filed counterclaims and testified in a pretrial deposition. But then he elected to drop his attorneys in April 2020 without hiring new ones. Shilo was “unwilling or unable to continue funding” his defense, according to his attorneys then. Without an attorney to represent him, trial notices then were sent to his email address and his old home address at South Carolina, even though he left there after the 2020 season to transfer to Jackson State. Then when the case finally did go to trial in March 2022, he didn’t show up to defend himself, leading to the $11.89 million default judgment against him. The court issued findings of fact and conclusions of law after hearing evidence in the case. “On September 17, 2015, Shilo Sanders did in fact cause physical harm and injuries to John Darjean by assaulting him,” the court stated. “The Court finds that Shilo Sanders’ actions were the proximate cause of John Darjean’s injuries/damages. The Court further finds that Shilo Sander’s actions were a substantial factor in bringing about the physical and mental injuries sustained by John Darjean, without which such injuries and damages would not have occurred.” The question now is whether the bankruptcy court will take Shilo’s side after all these other agencies and institutions did not. If he succeeds this time, the court could essentially erase that judgment debt and let him start over with relatively minor damage to his bank account. A University of Colorado spokesman said Deion and Shilo Sanders were "unable to comment" on the bankruptcy case while it remains pending. The Buffaloes open their second season under Sanders on Aug. 29 vs. North Dakota State. ∎  News from on and off the field:  Sign up  for USA TODAY's Sports newsletter. ∎  The USA TODAY app gets you to the heart of the news — fast.  Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more . Follow reporter Brent Schrotenboer @Schrotenboer . Email: [email protected] 416 IMAGES Sailboat Insurance: The Best Options By Far Insurance options for your sailboat Sailboat Insurance Guide: Costs, Requirements & More How Much Does Liveaboard Sailboat Insurance Cost? in 2021 RV Health Insurance: Getting Covered on the Road Choosing the Right Boat Insurance in 2020 COMMENTS Boat insurance experience? : r/sailing Boat insurance experience? I'm shopping around for boat insurance and just wondering if anyone has experience they'd be willing to share. Specifically BoatUS and Markel. I'm looking at agreed value policies with both of those and wondering when an accident happens will they pay without a hassle on my end? insurance options for my new sailboat : r/SailboatCruising For East Coast US check out the normal US insurance providers such as State Farm, All-State, Geico and so on. Check out Boat US, thy may still provide insurance. You question is a common topic on several of the Facebook sailing groups, and has been discussed at length and in more detail than here. Sailboat insurance : r/sailing For private (read: non-commercial) coverage on a small sailboat, the surveyor, who you can typically choose, but may want to confirm with the insurance co, will mostly be checking major systems for structural integrity, and looking for any substantial departures from best practices in terms of current operating conditions. Has boat insurance become so hard to find? They were told by several insurance brokers that it was almost impossible to get boat insurance for anything over 32' or35' with no prior boat ownership experience. The best deal they could find was $50,000 coverage with a $7,500 deductible for annual rate of $3,000. Sailboat Insurance: The Best Options By Far Boat insurance is essential in covering you in case of a loss of damage to your sailboat. 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Johnson added that just as jurisdictions have been requiring seismic retrofitting in case of earthquakes, protection against fires and other catastrophes — and the ability to replace whatever might be lost — is vital: "You would be ... Older sailboat insurance companies? : r/sailing Just checked, a couple of the boats I work on use Markel and a FL company called Oversea Yacht Insurance. Both companies offer full coverage, Markel just raised their rates though. Insurance advice for older boats The Boating Forum - Insurance advice for older boats - Hey All, looking for advice on good insurance companies that will ensure older boats. I'm looking at a 1970 Hatteras and haven't been able to find options. Thanks in advance for your help! Who Has the Best Boat Insurance? Re: Who Has the Best Boat Insurance? I had State Farm on my 21 ft 89 Bow rider but when I bought my 24 ft pontoon boat I got such a run around that I bought insurance from BoatUs. State farm says that they have full coverage but Boat US has one better.They cover all damage in a water accident or spill up to $700,000. Are you too old to open a Roth IRA? We unpack The Roth entered the retirement savings world in 1998, a moment when most boomers and many Gen Xers were launched in their careers and set in their financial ways. By design, the Roth favors the ... What's everybody doing for boat insurance? 4834 posts · Joined 2006. #10 · Nov 9, 2023. Just started a boat policy with Texas Farm Bureau. They insure everything I own. I did compare them to Progressive (per my neighbors referral) and Farm Bureau beat them by $10, so pretty much the same. Didn't see the need to deal with another insurance company to save $10/year. Boat insurance Boat insurance (and car insurance for that matter) will almost always specifically exclude coverage to any damage caused by mechanical/electrical failure, or freezing. US Boat Insurance : r/boating Use state farm also. They also randomly cancelled my boat insurance without telling me once because "I didn't provide engine information" despite literally sending them pictures of the block and manufacturer numbers six months prior. When my renewal came around I saw my boat wasn't on it and called them. Questions about insurance Re: Questions about insurance. Step 1 - Find a marine insurance broker to do the searching for you. They are largely paid by the insurance carrier, not (directly) by you so there's minimum risk. They can also help with what you need to tell the insurance carrier for the breaks. Disney wrongful death allergy lawsuit puts Disney+ terms in spotlight The Walt Disney Co. is trying to toss out a widower's wrongful death lawsuit, arguing he agreed to settle any disputes with the entertainment giant and any of its affiliates out of court when he ... Reddit We would like to show you a description here but the site won't allow us. Deion Sanders asked for 'homework' on son's bankruptcy: What we found The insurance company can investigate to make sure the claim is legitimate and also can deny a claim if it finds that the injury was caused by the employee's attempt to "unlawfully injure ... Sydney Sweeney 4M likes, 31K comments - sydney_sweeney on August 16, 2024: "i think they call this a thirst trap". American travel to Russia right now Do not travel to Russia right now. Don't be that person it's not so much the Russian people that will be the problem it's identifying risk assessment. For example if something happens the US most likely and should not get involved to help you out after you've been warned not to go there. Russia solo, am I crazy : r/solotravel A place for all of those interested in solo travel to share their experiences and stories! Russia solo, am I crazy. Hey .. im an 18 year old girl, American citizen but both of my parents are from Ukraine, I was born and raised in Brighton Beach, NYC and speak fluent Russian, studied some literature, culture, and history too. My trip to Moscow, Russia Dec. 2021 r/travel is a community about exploring the world. Your pictures, questions, stories, or any good content is welcome. Clickbait, spam, memes, ads/selling/buying, brochures, classifieds, surveys or self-promotion will be removed. My trip to Moscow, Russia Dec. 2021 - January 2022. would love to go if russia ever becomes a democracy. Moscow during worldcup Hi, I'm visiting Moscow with a friend to see the world cup and the city for 4 days. Any advice for cheap accomodations, areas to stay/avoid, things… catamaran gulet motorboat powerboat riverboat sailboat trimaran yacht