MacGregorSailors.com

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.

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.

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.

We pay $550 a year and we live in Florida. Boat is valued at $17,000. This is a Boat US / Geico policy.

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 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.

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.

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.

I pay 350 for my boat insurance. Has your insurer said anything about age of rhe boat and rate or decline to cover?

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.

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.

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.

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.

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 … 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.

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

Ix

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.

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