[Rhodes22-list] Boat Insurance Question

[mputnam1 at aol.com]

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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