Boat Insurance

[ExFlyGuy]

I know this has been discussed before. But the search function doesn’t seem to be working...

Anyways I got my insurance quote today from beacon and it was $1300 for the year. Seems steep to me?

Who are you guys using and what’s a average year cost?

Thanks

 

[Aces]

Hub insurance in Campbell river. Used to be Enns

I’m carrying 10 m liability for less than that

 

[mayday]

2nd for HUB - i don't have insurance on the little hourston, but our 33' sailboat with full coverage is $500 iirc

 

[BigReel]

Portside Marine Insurance. PMI.

I had my kingfisher and Orca insured through them. Both about 580 each. Really good to deal with.

 

[Fox]

I hav to find my policy. Can’t remeber who I have insurance with. I pay about $350 a year for the double eagle.

 

[Drink]

My 2006 Wellcraft 232 Coastal is well insured thru Beacon for about $600. My trailer, basic with liability etc. is insured separately thru ICBC as I thought I didn't want the hassle. Some day I should look at everything other than basic ICBC trailer insurance going to the likes of Beacon. I now know you get a better deal overall. I wonder if some captains mistakingly have over insured their trailers with non mandatory coverages with both ICBC and Private insurers.

 

[ReelSlim]

I used Beacon for my old boat a Striper 2101. And yes after selling my boat and cancelling my insurance I think I paid on both polices. Alberta registration/insurance on trailers is totally different in my defence....lol

 

[ab1752]

I'm paying around $700 a year for the hourston island runner. Make sure the guy ticked all the right boxes around safety equipment and area of operations. Seems spendy at $1300 perhaps they want pics or a survey to quote more accurately

 

[bpsuls]

One interesting bit about trailer insurance that I discovered last year. Turns out that when you are trailering, if there is an accident it falls under the tow vehicle's insurance, not the trailer's. So even if you have 5 million liability on your trailer, you can't access it in the event of a crash. The liability is for the event that you're trailer is parked somewhere and somehow gets into a situation. It has to be disconnected from the truck to take effect. So unless you're concerned that your trailer goes around on it's own at nightwhen you're not looking, get the bare minimum for the trailer liability, and up the liability on your truck instead. I think it's 250k.

 

[Drink]

I used Beacon for my old boat a Striper 2101. And yes after selling my boat and cancelling my insurance I think I paid on both polices. Alberta registration/insurance on trailers is totally different in my defence....lol

One interesting bit about trailer insurance that I discovered last year. Turns out that when you are trailering, if there is an accident it falls under the tow vehicle's insurance, not the trailer's. So even if you have 5 million liability on your trailer, you can't access it in the event of a crash. The liability is for the event that you're trailer is parked somewhere and somehow gets into a situation. It has to be disconnected from the truck to take effect. So unless you're concerned that your trailer goes around on it's own at nightwhen you're not looking, get the bare minimum for the trailer liability, and up the liability on your truck instead. I think it's 250k.

Thanks, didn't know that but your first hand experience is good info. I need to look into this when my insurance is up in 2019. I was originally thinking more along the lines of my trailer non mandatory insurance was in case of being stolen while in storage.
Likewise I understand some folks do not insure their campers appropriately. I was told originally by ICBC that anything on the carry vehicle is covered. Not true as the fine print states that only a canopy is covered and only to a max value of 3K. Found out of course this the hard way as my truck and camper were stolen here in Burnaby . Contents of camper covered by home insurance only. Personal contents in the truck also had to be claimed on my household insurance.

 

[ReelSlim]

I won’t get burnt by it again. Lol I never really even thought about it the trailer being double covered. I bought the trailer separately this time and delivered it to the builder so it is dealt with. When I insure the boat and power it will be done without the trailer this time!

 

[Gear'n'beer!]

I'm paying $500 also. But I have two houses and boat insured through same insurer. They are pretty competitive when you have that much stuff insured through one company. Downside is I have to renew all 3 on the same day.

 

[ryanb]

I think 1% of the boat value is a rough guideline for a marine policy...this is for an average value boat with 1-2m liability. As you get to very inexpensive/expensive boats this formula breaks down, but should be accurate for boats around 30k-150k.

 

[SteelyDan]

I went with dolfin this time. Painless and price was right. Never dealt with them for a claim yet though.

 

[paulo]

I'm with Dolphin as well. I certainly don't find it cheap but I do feel well covered. Thankfully, never had to work a claim either. 20' North River, $765.

 

[Rain City]

I went with dolfin this time. Painless and price was right. Never dealt with them for a claim yet though.

I'm with Dolphin as well. I certainly don't find it cheap but I do feel well covered. Thankfully, never had to work a claim either. 20' North River, $765.

Ive been with dolphin for 5 years and was surprised at the two quotes I just got on the Commander (valued at $120k) $1685 and $2050. Ouch! They've been great to deal with though on the few claims I had.
I was paying $750 on the bayliner (valued at $40k)

 

[Sir Reel]

Ive been with dolphin for 5 years and was surprised at the two quotes I just got on the Commander (valued at $120k) $1685 and $2050. Ouch! They've been great to deal with though on the few claims I had.
I was paying $750 on the bayliner (valued at $40k)

I am with Dolphin on my Commander 30, Its $1800 a year. Welcome to the club RC! It amazing how 6 more feet of boat can cost so much eh?.
FYI I had a claim with Dolphin and it was very good. Completely happy with the results.

 

[sudsy]

115k boat, 900$ through western financial marine (coast capital).

My old boat was through loyds of London (thru coast capital) and was 360$ (20k value)

Best advice is shop around. I did and went with best price, did not see difference in policy but price definitely fluctuated through beacon, hub etc.

 

[ExFlyGuy]

Thanks guys!

I got a quote from hub yesterday. Came back at $1170 and was through beacon as well. They are going to get a few other quotes for me from other providers. I will try dolphin next week.

I should mention I have had a survey done and have provided to both company’s for the quotes.

I’m wondering if the age of the boat and the value are affecting the quotes?

 

[Sir Reel]

My policy from Dolphin says:

INSURER: CERTAIN UNDERWRITERS AT LLOYD’S.

I'll be curious to see what their price is for you.