[Rhodes22-list] Boat Insurance Question

[Mary Lou Troy]

Mark, Looks like you are doing your homework. I didn't see if your boat has a trailer. If it does, make sure you subtract that out of the value placed on the boat. We have our insurance with Boat/US which does give us some towing coverage (but you can purchase that by just being a member). Boat/US also has over-the-road coverage for for mishaps while trailering (again all you need is to be a member to purchase that). It came in very handy when we burnt out a bearing on I-95 once. As far as the fuel spill coverage goes, technically, any fuel spill must be reported and can lead to hefty fines. You might want to make sure that you are covered. BTW, one of the nicest benefits of Boat/US coverage is their magazine "Seaworthy" about boating safety. Won't help if you can't get the coverage you need. Best of luck

Mary Lou
1991 R22 Fretless
Ft. Washington, PA / Swan Creek, MD




>From: mputnam1 at aol.com
>Date: Tue Apr 04 12:38:39 CDT 2006
>To: rhodes22-list at rhodes22.org
>Subject: Re: [Rhodes22-list] Boat Insurance Question

>BoatUS said they wouldn't go any higher than the $14,000.  They started at $10,000, and then I included the motor ... they went to $12,000 ... then I tried to explain everything that Stan does to upgrade the boat, my add-ons, the new boat guarantee, etc ... and then after they hit their "Stan button," their computer spit out $14,000 and would go no higher.
> 
>At Bob Weber's suggestion, I've spoken with State Farm ... they're sending me a quote.  It sounds to be about the same as the Chubb policy -- full coverage of purchase price, $526 annually, but with a $250 deductible rather than a $500 deductible ($500,000 liability, $5,000 medical).  Unless anyone warns me otherwise, that's what I'll probably go with.
> 
>- Mark Putnam
> 
> 
> 
> 
>-----Original Message-----
>From: Rob Lowe <rlowe at vt.edu>
>To: The Rhodes 22 mail list <rhodes22-list at rhodes22.org>
>Sent: Tue, 4 Apr 2006 13:02:24 -0400
>Subject: Re: [Rhodes22-list] Boat Insurance Question
>
>
>Mark,
>I've got mine with US Boat, but then my purchase price was significantly
>lower than yours.  Did you ask US Boat for a higher level of coverage?
>Seems to me they should offer to cover the purchase price. - rob
>
>
>----- Original Message ----- 
>From: <mputnam1 at aol.com>
>To: <rhodes22-list at rhodes22.org>
>Sent: Tuesday, April 04, 2006 12:34 PM
>Subject: [Rhodes22-list] Boat Insurance Question
>
>
>> Ok, Elton has delivered our recycled 1990 R-22 ... we're all excited in
>the Putnam household, especially our four year old.  But here's the question
>du jour ...
>>
>> We still need to get insurance coverage, but since this is our first boat
>purchase, I'm a little unsure what the usual coverages should be on a boat
>...
>>
>> I've gotten two quotes:
>>
>> One from my insurance broker that insured our house ... it's a Chubb
>policy that would cover the full purchase price of the boat plus the engine.
>It would have $500,000 in liability coverage, a $500 deductible, and an
>annual premium of $520.
>>
>> I also got a quote from BoatUS ... it would only cover $14,000 on the boat
>and engine (well below the purchase price), it has $300,000 in liability
>coverage, $10,000 in medical coverage, $500,000 in fuel spill coverage (this
>doesn't seem necessary on a sailboat with an 8hp outboard), the deductible
>would be $220, and the annual premium would be $167.
>>
>> Again, this is a 1990 R-22 ... I lean toward the Chubb policy because it
>would fully cover what it would cost me to replace the boat if I ever had to
>... but maybe some of you will say I wouldn't need to buy a new boat and
>that $14,000 is more than enough to fix any problem I would have.
>>
>> Don't worry, I won't hold anyone liable for the advice you give me!
>>
>> Thanks in advance.  As always, I greatly appreciate your advice,
>>
>> - Mark Putnam
>> __________________________________________________
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>
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