Insurance

A forum for discussing topics relating to MacGregor Powersailor Sailboats
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Russ
Admiral
Posts: 7543
Joined: Thu Oct 11, 2007 12:01 pm
Sailboat: MacGregor 26M
Location: Bozeman, Montana "Luna Azul" 2008 M 70hp Suzi

Insurance

Post by Russ »

What does your insurance cost for a 26M/X?

Mine is now over $500/year now and I'm thinking of shopping a bit.
Got a Progressive quote for half that but that scares me that it's half the cost.
--Russ
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kmclemore
Site Admin
Posts: 6037
Joined: Sun Feb 08, 2004 9:24 am
Sailboat: MacGregor 26X
Location: Ambler, PA -- MACX2018A898 w/ Tohatsu 50D -- 78 BW Harpoon 4.6 -- 2018 Tahoe 550TF w/ 150 Merc

Re: Insurance

Post by kmclemore »

Our insurance is through Safeco. We have two boats on the policy together, our Macgregor, 26X, and also our Boston Whaler Harpoon sailboat, including both damage and liability, for a combined cost of $470.

That being said, because we sometimes carry youth aboard our boat and in our cars (we lead a Scout troop) we also carry a quite large umbrella policy that costs us $2,134/year.
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WinSome
Engineer
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Joined: Thu Jul 07, 2016 7:35 am
Sailboat: MacGregor 26X
Location: Hamilton Ontario Canada

Re: Insurance

Post by WinSome »

Here in Ontario I’m able to list the boat, motor and trailer at separate amounts (for each) added to our property coverage. That’s $20,000 on ‘99X. Cost ~$300/ year. Canadian $!
We have a second boat ($8,000 value) ~ $200
Depending when you priced/appraised your boat you may not be able to fully replace it in today’s market!
Our property policy has $2M liability which extends coverage for us on property, highway or water. Marina is satisfied.
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ris
Captain
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Joined: Sat Feb 28, 2015 4:27 pm
Sailboat: MacGregor 26X
Location: Frostproof Florida

Re: Insurance

Post by ris »

We pay $550 a year and we live in Florida. Boat is valued at $17,000. This is a Boat US / Geico policy.
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Russ
Admiral
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Joined: Thu Oct 11, 2007 12:01 pm
Sailboat: MacGregor 26M
Location: Bozeman, Montana "Luna Azul" 2008 M 70hp Suzi

Re: Insurance

Post by Russ »

My BoatUS/Geico plan was based on $30k and was $570/year.

I shopped around and got a progressive plan for $183/year with decent coverage for liability that meets the needs of my $2M umbrella plan.

Kevin, you must have a LARGE umbrella. Ours is $2M and I think it's about $900/year.
--Russ
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kmclemore
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Sailboat: MacGregor 26X
Location: Ambler, PA -- MACX2018A898 w/ Tohatsu 50D -- 78 BW Harpoon 4.6 -- 2018 Tahoe 550TF w/ 150 Merc

Re: Insurance

Post by kmclemore »

Russ wrote: Mon Feb 06, 2023 7:59 pmKevin, you must have a LARGE umbrella. Ours is $2M and I think it's about $900/year.
Indeed we do. Imagine (God forbid) losing multiple young scouts in an auto or boating accident… the lawsuits would be epic. We have to protect our wealth - it’s our source of income from now on - so it’s cheap insurance, in perspective.
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dlandersson
Admiral
Posts: 4531
Joined: Fri Aug 27, 2010 10:00 am
Sailboat: MacGregor 26X
Location: Michigan City

Re: Insurance

Post by dlandersson »

You need to know what kind of boat you have - exactly.

My X would have been zero extra IF my outboard was 25HP or less. 8)
Russ wrote: Mon Feb 06, 2023 9:00 am What does your insurance cost for a 26M/X?

Mine is now over $500/year now and I'm thinking of shopping a bit.
Got a Progressive quote for half that but that scares me that it's half the cost.
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pitchpolehobie
First Officer
Posts: 480
Joined: Wed Dec 18, 2019 8:46 pm
Sailboat: MacGregor 26X
Location: USA, OH

Re: Insurance

Post by pitchpolehobie »

I pay 350 for my boat insurance. Has your insurer said anything about age of rhe boat and rate or decline to cover?
2002 MacGregor 26X: Remedium
Tohatsu 25HP
Cruising Area: Inland Ohio, Lake Erie
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Russ
Admiral
Posts: 7543
Joined: Thu Oct 11, 2007 12:01 pm
Sailboat: MacGregor 26M
Location: Bozeman, Montana "Luna Azul" 2008 M 70hp Suzi

Re: Insurance

Post by Russ »

dlandersson wrote: Tue Feb 07, 2023 3:17 am You need to know what kind of boat you have - exactly.

My X would have been zero extra IF my outboard was 25HP or less. 8)
Yes, that's true.

They asked Make, Model, HP and age.
Also where it is berthed. I'm sure if I boated in hurricane territory it would be more.

I ditched the Seatow(ish) coverage as we have nothing like that available.

I've used BOATUS forever because they know boats. My dad had State Farm and after Hurricane Sandy it was a nightmare with claims.
My primary concern now is liability coverage.

Indeed we do. Imagine (God forbid) losing multiple young scouts in an auto or boating accident… the lawsuits would be epic. We have to protect our wealth - it’s our source of income from now on - so it’s cheap insurance, in perspective.
Indeed. Umbrella coverage is relatively cheap compared to the coverage. In my opinion, anyone with any type of assets should have this coverage as standard coverage usually tops out at $100,000. Injury lawsuits usually start at $1M.
--Russ
closehaul
Deckhand
Posts: 39
Joined: Wed Jul 13, 2011 7:11 am
Sailboat: MacGregor 26X
Location: ILLINOIS

Re: Insurance

Post by closehaul »

My insurance for 26X is no extra because >26foot and >60HP (just a rider on the homeowners policy). Roger did his homework when he designed at 25'-10" and 50HP. Also my travel trailer is 25' and no extra insurance cost (just a rider on the homeowners policy). Country Companies Insurance - great to work with.
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Russ
Admiral
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Joined: Thu Oct 11, 2007 12:01 pm
Sailboat: MacGregor 26M
Location: Bozeman, Montana "Luna Azul" 2008 M 70hp Suzi

Re: Insurance

Post by Russ »

closehaul wrote: Tue Feb 07, 2023 9:12 am My insurance for 26X is no extra because >26foot and >60HP (just a rider on the homeowners policy). Roger did his homework when he designed at 25'-10" and 50HP. Also my travel trailer is 25' and no extra insurance cost (just a rider on the homeowners policy). Country Companies Insurance - great to work with.
Yep.

Many homeowners policies will cover boats UNDER 26'. I'm sure Roger did this on purpose as another marketing tool.

In my opinion, there are 2 reasons to insure your boat. For liability for damages you can do with your boat and to replace the boat or parts during a loss.

I've always like BOATUS because they know boats. Subscribing to their magazine tells stories of how they have their own crew that go out after a hurricane or similar event and writes checks on the spot. Dealing with State Farm after Sandy was a nightmare. No marine adjusters. They had no idea how boats work.
--Russ
OverEasy
Admiral
Posts: 2012
Joined: Mon Sep 28, 2020 11:16 am
Sailboat: MacGregor 26X
Location: NH & SC

Re: Insurance

Post by OverEasy »

If y’all think State Farm was difficult to deal with y’all are gonna a jus luv having to deal with All State…some o’ deem agents an’ adjusters are jus plain dumb or act thataways on purpose ta jus rile ya up :D :D … ah’ve had more sensible discussions with a rock 🪨 in mud in the dark.

We use AMICA and they have been not only Reasonable but an honest Pleasure to work with…24/7.
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Ixneigh
Admiral
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Joined: Thu Sep 09, 2010 11:00 am
Sailboat: MacGregor 26M
Location: Key largo Florida

Re: Insurance

Post by Ixneigh »

My insurance is 1300 a year for 15000 damage, 100 grand liability and 3000 of personal effects. Geico policy.

Ix
"Shoal Idea"
2011 M, white
Etec 60
South Fl.
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Russ
Admiral
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Joined: Thu Oct 11, 2007 12:01 pm
Sailboat: MacGregor 26M
Location: Bozeman, Montana "Luna Azul" 2008 M 70hp Suzi

Re: Insurance

Post by Russ »

Ixneigh wrote: Sat Feb 11, 2023 5:36 am My insurance is 1300 a year for 15000 damage, 100 grand liability and 3000 of personal effects. Geico policy.

Ix
Prolly because you boat in hurricane alley and the most dangerous blue waters.
--Russ
Mango
Posts: 2
Joined: Thu Apr 27, 2023 12:23 am
Location: IN

Re: Insurance

Post by Mango »

$857 annual cost...boat at $20,000. USAA.GBWhatsApp APK
Thinking of changing it to progressive or BoatUS.
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