$2million Liability insurance for moorage?

[Go.Fish]

Would like to rent a slip either month to month or yearly. The marina is requiring 2 million liability insurance which is totally understandable
I read on this forum earlier about an “umbrella policy” that could be added to my house insurance policy. Tried calling the house insurance provider earlier and she wasn’t quite catching my drift. After looking into it and calling me back she was going on asking questions about my boat details. I caught on quickly and realized she was going to get me a quote on generic boat “insurance”. I asked again about an umbrella policy and she said that’s “for when you have 2 million liability and want to up it to 5 million” and also that “you can’t just get liability”... “you can’t just get liability”.
Pretty sure if J-Lo can insure her butt than I should be able to insure whatever I want however I want, they can price it accordingly

perhaps I’m dealing with the wrong broker? Anyone have other ideas on getting liability insurance without fire, theft etc... just what the marina is asking for?

I live on the island but deal with a Vancouver based insurance company, perhaps time to switch everything over to someone who knows better and closer to home...

 

[Go.Fish]

Did some more reading. Totally read wrong what an umbrella policy was! Oops. It increases liability insurance on things that are already insured....
So guess I need boat insurance afterall
What’s the going annual rate these days for a $40k aluminum boat?

 

[Aces]

Maybe you should ask a broker?

think it depends on where you are operating your boat and your experience

I pay less than $700 for 40k value and 3 million liability

 

[trophywife]

i would think 1200-15oo max.

 

[nicnat]

you should be able to get it for between 6-$700 shop around , and definitely get a new broker. interesting that you didn't want to insure a 40k boat?

 

[Aces]

you should be able to get it for between 6-$700 shop around , and definitely get a new broker. interesting that you didn't want to insure a 40k boat?

Dolphin insurance are pretty good as well as Hub insurance in Campbell River, used to be Enns

 

[Go.Fish]

Under 2.0 percent would be $800 a year and could live with that. The idea behind not getting insurance is I can fix anything (class A pressure welder/CWB aluminum certified/mechanics/wiring/upholstery etc). It’s a welded aluminum boat and there’s nothing that could happen that couldn’t be repaired.

Just read something interesting. The Port of Edmonds in Washington has an FAQ about tenant insurance. It states that “Umbrella insurance policies are not acceptable.” Hmmm.

Sent off a few quote requests will see what happens. Thanks for the recommendations!

 

[trophywife]

Maybe you should ask a broker?

think it depends on where you are operating your boat and your experience

I pay less than $700 for 40k value and 3 million liability

for commercial?or pleasure use only?

 

[Aces]

for commercial?or pleasure use only?

That's pleasure only, bud.

I had my commercial policy (5 mill liability) with an offshore rider to a max of 75 miles for tuna with Enns/Hub in CR. Last year i paid $1700 for that

 

[Go.Fish]

Got a quote back from home insurer with Beacon as underwriter. Guess they didn’t believe the boat was worth 40k and changed it to 20k
Quote was $543 for a year. That’s 2.7%
Doubt that will buy me another Hewescraft Searunner 200et with 330 hours on a 150 Honda + 9.9 yamaha high thrust + new bells and whistles

 

[Aces]

Got a quote back from home insurer with Beacon as underwriter. Guess they didn’t believe the boat was worth 40k and changed it to 20k
Quote was $543 for a year. That’s 2.7%
Doubt that will buy me another Hewescraft Searunner 200et with 330 hours on a 150 Honda + 9.9 yamaha high thrust + new bells and whistles

Getting a quality survey done will peg an accurate value for your boat

 

[Go.Fish]

Ended up going with Dolphin. More than I wanted to spend @ 870 but they went with 40k plus 12k for kicker and personal effects + 3mil liability. Smooth process and received a binder same day so boat was in marina that afternoon

 

[wildmanyeah]

I pay less than $700 for 40k value and 3 million liability

how old is your policy?

 

[Aces]

how old is your policy?

Got it this year thru Dolphin

My first non guiding policy since 1985