Insurance - liability requirements

[Sooner]

Was wondering if there are requirements in some marinas and what folks in small boats sailing far are thinking?
jim

[CharlieJ]

Most marinas require liability. I carry 300K with Progressive.

[Grime]

Our marina doesn't require insurance but like Charlie I carry insurance. I found Progressive was the cheapest for just liability. I got 500K for around 300 for the year up to 75 mile offshore. 

[Tim]

I keep the minimum liability with my boat insurance, but also covered by $2mil. general liability insurance that I carry.

[SailorTom]

Only one out of 4 different marinas that we live aboard at required insurance, then just hull(I believe that's what it was called) basically will raise your boat if it sinks and cleanup. This was in Annapolis and Kent Is. Maryland. The one that required was a condo marina.

Oh Yeah we had Progressive the one time we needed.

[Godot]

I just got a quote today from Geico for $305 (it's renewal time). That is full coverage (agreed hull value of $23,000), plus 100k/300k liability, $854,400 fuel and other spillage liability, $300k uninsured boater liability with a $500 deductible. They are making me jump through a couple hoops because of the age of the boat, including a survey; but I think my pre-purchase survey of two years ago will be sufficient.

I think BoatUS wants $800+ for similar coverage (I have to dig out the bill...it's around here somewhere). And BoatUS wants me north of Virginia during the hurricane season while Geico is telling me I'm fine throughout inland and coastal waters of the USA and Canada.

Oh, my current marina never said anything about insurance, although my last marina did. Personally, as long as it is reasonably affordable I feel better carrying it.

[Sooner]

Thanks for the input - I went for the  Boat US policy for $184.  Actual cash value $5500, liability 100k, limit 300k aggregate,
854,400 fuel spill (quite a bit for a 3.5 gal tank), med 1k, trailer $900,sport equip $250,uninsured boater 300k, commercial towing $500 limit.  Upgraded roadside tow and assistance to 100 miles $14 and another $150 on each towboat $18.  The other folks I talked to were a bit higher and didn't add the roadside assistance or towing.
jim

[w00dy]

We too have been researching and getting insurance quotes, since we will probably settle down at a live aboard marina this winter.

Adam- Is that $305 per mo, or per year? If that's a yearly rate, it seems to be pretty inexpensive for full coverage. Sounds like an awesome deal, though insurance can be a tricky beast from what I hear. What worries me is the potential for a denied claim based on some legal wiggle words in the policy, after having read some not-too-encouraging stories on the internet. I guess fighting insurance companies, whether home, auto, medical, or marine can be an issue regardless. Who wants to pay for peace of mind, only to worry about getting screwed by the legal dept?

Has anyone here ever submitted a minor/major claim on their policy? What company was it? Did you have any trouble?

[Godot]

That was Per Year. GEICO is only brokering it. The actual writing company is Seaworthy Insurance, which I believe has a good reputation.

They didn't accept my survey as it was a few days over two years old. They may not require a survey for a boat under 30 years old.

I'm just going to eat the BoatUS cost until I finish some important repairs, then get a new survey next spring. Currently the rigging is old, the fuel tank needs to be repaired (tiny leak), the dodger needs to be restitched, and the cabin cushions need to be recovered. Based on my previous survey I just want these to be noted as in very good or excellent condition.

[SailorTom]

Has anyone here ever submitted a minor/major claim on their policy? What company was it? Did you have any trouble?

My only claim ever has been a hit-run while my car was parked(in Maryland). We had Progressive and they were fantastic to work with.