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  • insuring a classic

    Hello all,

    I recently purchased a 1973 22' and need to insure it. My last boat was through Allstate but my agent can not write a policy at this time because of all the hurricanes. I have a quote coming with Boat US, but from previous experience I found that their policies can be twice as much as some other companies'. Any advice/suggestions? I am in South Florida (Boca Raton).

    -John
    John Kranick[br]1973 Mako 22[br]Boca Raton, FL

  • #2
    has anyone looked into Progressive? they are really starting to advertise boat insurance in a big way. complete replacement and $0 deductible after 4 years are some of their highlights.
    Steven[br]1978 Powercat 232[br]One flat broke, the other almost ready to float!!![br]Atlanta, GA

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    • #3
      I have it with State Farm, you need to have cars with them as well. You get 10% deduction with Captain's License or Coast Guard Safe Boater's class. I pay $600(That is without the discount) a year for $18000 replacement cost. I do not remember the liability numbers. Can't remember what the deductable is.

      I checked on Charter Insurance a while back, it was $800 a year for the same coverage amounts. The company is called Charter Lakes Insurance.

      Hope this helps.
      Paul[br]Plantation, Fl [br]1988 Mako 236 Inboard

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      • #4
        By the way, get Sea Tow insurance for on the water towing. Only way to go. Unfortunately, I have had to usbe towed 3 times in the past. They have great service, for a great price.
        Paul[br]Plantation, Fl [br]1988 Mako 236 Inboard

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        • #5
          BoatUS has TowBoatUS club. For something like $120/yr you can get unlimited towing.
          Steven[br]1978 Powercat 232[br]One flat broke, the other almost ready to float!!![br]Atlanta, GA

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          • #6
            Marine insurance is one of those areas where you pretty much get what you pay for. There are only, what, 4-6 prime writers, and all others (eg BoatUS) is just a reseller.

            You really need to compare policies point-by-point. Full replacement or agreed value? Bodily injury coverage level? Uninsured boater coverage? Personal effects? Distance offshore? Area of coverage? "Winter" months not covered? Deductable levels? etc.

            There is no easy answer on this. Someone saying "my annual premium is cheaper than yours, so it must be better" is just useless noise. I have been with BoatUS and Progressive, got policies with very similar coverage levels (most items upped to what I considered adequate), relatively high deductibles, and am paying ~$325 for my boat below.

            You just have to do the homework and compare point for point, and the web is probably a good place to start. Prog and Boatus are both pretty reputable, and so should Allstate if you have a car and can get an agent who's not doing a marine policy for the first time.
            NYC & L.I. - 1974 \"Classic\" Mako 20\' - Suzuki 2006 DF150 - Fly & Light Tackle, C&R[br]My boat: http://www.classicmako.com/forum/topic.asp?TOPIC_ID=23444#159594[br]Personal website: http://www.georgemcauliffe.com/

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            • #7
              quote:


              Originally posted by tuskanraider


              By the way, get Sea Tow insurance for on the water towing. Only way to go. Unfortunately, I have had to usbe towed 3 times in the past. They have great service, for a great price.



              Stay away from Sea Tow!!! They have a pretty solid reputation of filing bogus salvage claims against your boat!
              1978 Mako 25 - Blind Hog
              1985 Mako 20c - sold
              Fort Walton Beach, FL
              http://www.classicmako.com/forum/top...TOPIC_ID=42841

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              • #8
                Guys....Check with your Homeowners Ins. Co. that you have now...

                Most will place a rider for "agreed value" on your policy.

                If you have all your auto's home and boat in one basket they usually give reasonable rates. Im with Cincinatti, and have been quoted by most all the Companies mentioned.. (be careful) if your searching for Quotes, a lot of Co's will check your credit rating and this will have to be explained to a crediter if there are a lot of hits.

                Im experiancing almost 50% less premium this way, also higher deductables will lower rates. $578.yr $85K coverage $1k deductable.

                Covers my boat/motors/trailer/electronics/personal gear, wherever she is, Back yard, motel, trailer, lift, etc. Im not saying every Co. will do this,But it dose'nt cost a penny to ask. and most agents are happy to accomidate good customers.

                Just my 2% but it helped me..

                Jim[]

                P.S: They have insured all 6 of my Mako's from the 1975 20' to my present 2002 282.

                The Motors on the older boats were insured for more than the hulls.
                June 2009 Bimini Fishing Extravaganza---------------------------------------------------------------[br][br]Photo by Martha Costa.................................. Photo By George Poveromo...........................[br][br]2005 Mainship 400 Swift Trawler, Twin 240 Yanmar\'s w/thruster [br]sales distributor of: 2010 11\' Bluewater Baby w/2011 25hp Tohatsu 4str.[br]dinghiesndavits.com [br]ex: 1975 20a Mako[br]ex: 1992 221 Mako[br]ex: 2000 George Poveromo Edition 282 Mako[br]ex: 2002 George Poveromo Edition 282 Mako[br]Sarasota / Bradenton Fl./Falmouth, Ma. Cape Cod / Andros Bahamas[br]Founding President www.ManasotaMako.com

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                • #9
                  I'm with Allstate but if I wasn't I'd contact Hagerty.com. They insure my old Chevy for an agreed value and are less than $100 a year.
                  \'81 21\' CC Mako[br]Beaufort, NC

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                  • #10
                    On a side note about Progressive Ins. Co. The presedent of that company has made massive contrubutions to the Democract party.[xx(]

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                    • #11
                      I use AAA and have it insured with my homeowners policy. A side note here...you dont have to own a home to take out a homeowners policy. Renters can s well. Just tell them how much you want to insure it for and they will do it. The higher you insure it for the higher the premium. My 75 SeaCraft is insured for $37000.00 It's under $1000 a year for the policy and it pays for liability as well.

                      Strick
                      Oakley, California

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                      • #12
                        Sailor,

                        Just curious about the bogus claims by Sea Tow. I have not had a problem with them, I have been towed twice from about 6 miles out, and needed a jump start from 20 miles out. All covered, no questions asked.

                        I have heard that if you are sinking it is a different story, they can claim a salvage.

                        It is concerning to hear that they file bogus salvage claims, especially after I just put a ton of money into my boat.

                        Tow Boat US is the only competition they have in FLL that I know of. Boat US has a much more limited coverage range. I am 25+ miles offshore on a regular basis, they don't tow that far.

                        Thanks,

                        Paul
                        Paul[br]Plantation, Fl [br]1988 Mako 236 Inboard

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