Boat insurance cost

[Old Blue]

I'm looking at buying a 17ft late 80's Montaulk and was wondering if anyone had a basic idea on cost of insurance? I'm guessing in the $450-550/yr range but have heard some conflicting information. Do you have a favourite Insurance company?

Also if anyone has reviews (good or bad) on Sewells Marina, Lions Bay, Lynnwood or Mosquito Creek marina it would be greatly appreciated.
Tight lines.

 

[Dave S]

I add it on to my house insurance and it only ends up being $300 a year.

 

[IMRINC]

Anyone but premier marine. Dolphin,coast, beacon are a few i could recommend.

 

[Hookin'up]

I agree with above, I am currently with coast use to be with Beacon, I'm up for renewal and coast just jacked my rates for no apparent reason, just had quotes from dolphin and beacon and am going back to beacon via my regular Agent
seems to have the best bang for the buck

 

[Old Blue]

I add it on to my house insurance and it only ends up being $300 a year.

Perfect, just need to buy that house now too
Prices in Vancouver are a bit out of my range for a few years yet.

 

[Gear'n'beer!]

I add it on to my house insurance and it only ends up being $300 a year.

Hey Dave, what kind of coverage did you get for that? I deal with the same broker for both house and boat and they never suggested adding to house. Just curious if the coverage is equal...... For example the longshoreman coverage etc.....

 

[NootkaSounder]

I used Harbored, this is my policy at a quick glance.
Harbord Insurance Services Ltd

tracyleeg@harbordinsurance.com

(250) 656-0111 Phone

(250) 656-7181 Fax

1-888-450-3982 Toll free

TERMS: Limit Deductible



Hull & Machinery incl. $11,500 $250

Electronic Navigational Equip $0 $250

Main Motor $10,000 $250

Auxiliary Motor $1,700 $250

Tender $0 $250

Trailer $3,000 $250

Personal Effects $2,000 $250

Emergency Towing $1,000 $0

Rental Expense $1,000 $0

Protection & Indemnity Liability $1,000,000 $Nil

Uninsured Boater Protection $1,000,000 $Nil

Annual Premium $543

 

[JAC]

Just re insured this week

33000 hull
14500 motors
5000 trailer
5000 personal content
2000000 liability
Full coverage from Washington/Oregon border all the way to alaska this includes bella coola to bella bella many providers don't cover the bella coola area

$734

 

[bigbruce]

The problem with adding your boat to your house insurance is that any claim on your boat coverage will affect any "claims-free" discount you might have on the house portion of your policy - which is usually a larger chunk of the bill than the boat portion.
I have $30,000 on boat (including the i/o), $2000 on the trailer and $2000 on the kicker - $425 through Vancouver Island Insurance Centre.

 

[Dave S]

Hey Dave, what kind of coverage did you get for that? I deal with the same broker for both house and boat and they never suggested adding to house. Just curious if the coverage is equal...... For example the longshoreman coverage etc.....

I have it through Brown Bros in Victoria on Blanshard. The values I'm insured for are $3500 hull, $3500 motor, and 1 mil liability.

 

[Dave S]

The problem with adding your boat to your house insurance is that any claim on your boat coverage will affect any "claims-free" discount you might have on the house portion of your policy - which is usually a larger chunk of the bill than the boat portion.
I have $30,000 on boat (including the i/o), $2000 on the trailer and $2000 on the kicker - $425 through Vancouver Island Insurance Centre.

You are probably right. Haven't really looked into other options, although I probably will next year.

 

[tinboatrobb]

BigBruce is correct. Having just insured our new boat we did it separately from our house insurance. You boat moves, house stays put, more chance of a boat claim than a house claim. that will affect your home insurance cost and claims free discount.

 

[Gear'n'beer!]

I have my trailer insured through ICBC, didn't see the point behind adding it to my boat policy. However without reading the fine print that seems like a pretty good deal bigbruce

 

[Cuba Libre]

Same deal I have BB

 

[Old Blue]

Great, thanks for all the info guys, I really appreciate it.

 

[doger5]

Remember to purchase declared value insurance, you don't want to deal depreciation value you will get screwed by the underwriters. I went with lloyds of London through dolphin. Paid about $550 , well worth buying proper insurance its there when you need it without all the bull.

 

[J-GLOBAL]

Anyone but premier marine. Dolphin,coast, beacon are a few i could recommend.

Why not Premier Marine?
I just switched to them based on a better price. Coverage is as far as I want to go of the west coast VI (private, not commercial). $2 mill liability (needed for Marina). $145,000 declared value. $999.

Seemed like a good deal, but a bit worried now that I see this.

 

[doger5]

Premier Marine

Better check your policy I used to pay them, in the fine print they depreciation on your value of your boat by year , you might find they will pay a lot less than your declaration and what you think they owe you . With dolphin insurance they sell you actual declared value so if you buy 20,000 insurance you get 20,000 less the deductible .

 

[doger5]

I like to get what I pay for

 

[IMRINC]

Wait till you have claim!! They usually spend more time trying to get out of claims than insuring your boat is fixed up properly. Between depreciating parts and wanting to pay unrealistic flat rate labour times they will do what they can to get out the cheapest way possible. Rarely do i have a claim through them that goes smoothly.