Boat Insurance Providers

[Allen Wesley]

We just moved to B.C. and purchased a 2004 Bayliner 288 Classic Cruiser. We are looking for an insurance provider for this craft. We are located at Salmon Point Resort and Marina and the boat will be moored here.

 

[RiverBoy]

Waypoint Insurance in Willow Point.

 

[Allen Wesley]

Waypoint Insurance in Willow Point.

Thanks RiverBoy

 

[Bryan Allen]

I am with Waypoint in Courtenay...my insurance went up 20% this year . I see that others here have much cheaper insurance for the same coverage. I am looking around for a new broker next year....

 

[man*of*steel]

Check out Portside Insurance online. Turned out to be way cheaper with better coverage for me than local brokers. Specialize in marine insurance also.

 

[Deejray]

How is PMI to deal with? Have you ever had to make a claim though them? Looking at different options and wish I'd done so sooner. The outgoing broker was way out of line comparatively.

 

[NOOTKA BOUND]

Call Real Insurance in Nanaimo, talk to Jeremy. He does mine every year. Everything is online for papers as well. Great guy and finds some wicked pricing

 

[man*of*steel]

How is PMI to deal with? Have you ever had to make a claim though them? Looking at different options and wish I'd done so sooner. The outgoing broker was way out of line comparatively.

I don't know how they would be with a claim. I also don't know how my local broker's insurance would handle a claim as I have not had one in 45+ years operating boats. Insurance is just one of the necessary evils in this world.

When I purchased my boat in the States it was at the bottom of the US recession and the broker (one of the few in my area that does boats and the only one that I had dealt with before) would only insure the boat for the purchase price and not for the actual value here. I got a really good deal and the boat was instantly worth more here than the amount I paid for it. The only way they would raise the value was for me to have a survey done which would have cost me a fortune since I live in the Kootenays and the closest surveyor was in Kelowna. I was always unhappy with the idea that I could only insure the boat for approximately 70% of it's actual resale value.

When I filled out the Portside questionnaire I put in the actual resale value for the boat that I came up with from looking at ads on Craigslist and Kijiji. Portside quoted on this value with no other requirements. No problem. I got the boat insured for the real value of the boat and many better clauses for a MUCH cheaper rate. The only thing i found lacking from my previous policy was the "Lay Up Period December 15th to March 1st". This did not bother me and if you use your boat in the winter they will allow this for a premium. This company was much easier to deal with than my local broker. They know boats. The local broker, not so much. Boats are not what they specialize in.

I hope this helps.

Jack

 

[Deejray]

I don't know how they would be with a claim. I also don't know how my local broker's insurance would handle a claim as I have not had one in 45+ years operating boats. Insurance is just one of the necessary evils in this world.

When I purchased my boat in the States it was at the bottom of the US recession and the broker (one of the few in my area that does boats and the only one that I had dealt with before) would only insure the boat for the purchase price and not for the actual value here. I got a really good deal and the boat was instantly worth more here than the amount I paid for it. The only way they would raise the value was for me to have a survey done which would have cost me a fortune since I live in the Kootenays and the closest surveyor was in Kelowna. I was always unhappy with the idea that I could only insure the boat for approximately 70% of it's actual resale value.

When I filled out the Portside questionnaire I put in the actual resale value for the boat that I came up with from looking at ads on Craigslist and Kijiji. Portside quoted on this value with no other requirements. No problem. I got the boat insured for the real value of the boat and many better clauses for a MUCH cheaper rate. The only thing i found lacking from my previous policy was the "Lay Up Period December 15th to March 1st". This did not bother me and if you use your boat in the winter they will allow this for a premium. This company was much easier to deal with than my local broker. They know boats. The local broker, not so much. Boats are not what they specialize in.

I hope this helps.

Jack

Appreciate this. In the process of changing over from Beacon to PMI. Beacon rep is not making it easy though. Apparently they auto-renewed me even though I specifically said not to..... Fun times