Boat Insurance and Towing

[Reighnman]

With plans to explore waters beyond my safety range I looked at getting SeaTow or BoatUS towing. While looking at the BoatUS I noticed you can add the unlimited towing for $36(Not Florida) to their insurance policy. Ran through their builder and it seems to have great pricing for what I'd want covered which is agreed value, 300k liability and almost $1m accidental fuel spill. With any insurance the exceptions and exclusions usually outnumber the included. Has anyone on here added the towing option to their BoatUS insurance and then used it?
Progressive has a "sign & glide" option for $30 on their insurance but the fuel spill coverage is only to the liability limit which seems low for environmental remediation.

[Jon898]

Have the towing coverage, but have never used it.

One important factor with BoatUS insurance in its favor is that it is an agreed-value policy which is not usually the case with other insurance (which usually follows the auto policy process of discounting for "depreciation").  Also as you note, the fuel spill liability coverage is more realistic (not that I care now I've dumped the old 2-stroke Yugoslavian noise maker for a trolling motor).

Jon

[Vectordirector]

I have had BoatUS unlimited towing since I moved to SW FL.  I have used it once for my boat and my sailing buddy Arthur has used them a couple of times.  Very highly recommended if you boat in coastal and offshore waters.  They also have trailer coverage if you trailer your boat a lot.  They often have discounts on membership at boat shows if they have a booth. Well worth $150 a year. 


Both my boats have BoatUS insurance (underwritten by Geico) and I have had great service with them for the last 3 years.  My trailer for the Eclipse was at a storage facility and was destroyed when a car came off the road and landed on it.  BoatUS had me a check for the full covered amount within 2 weeks. 

When my boat's insurance policy renewed this year the coverage now included the on water towing service.  I was given the choice to add the full BoatUS discounts and magazine for $10/year extra. I believe it also includes a membership to the West Marine Frequent Buyer Gold package of services.  All very confusing but I have the full package for less than it was last year. YMMV depending on where you boat/live. 

Fair Winds,

Vectordirector 

[wes]

Jon - it has not been my experience that BoatUS will necessarily accept a policyholder's own valuation of their boat value. They declined to insure my 19 for a value that I felt represented my investment in upgrades, which was at the high end but still within market range.

I went with Progressive instead. Once I documented my boat's purchase price, dollar value of upgrades and a few recent sales of boats in similar condition, they accepted my value without hesitation. I have checked back with BoatUS in the past year to confirm that they are still capping the value of my boat below where I think it should be.

This may not be an issue for everyone, but if you have a prized and extensively upgraded boat I'd suggest shopping around. Progressive has provided excellent service.

Wes

[TopsailB]

+1 for Progressive.

I previously used BoatUS, underwritten by Geico. Paid my premium dutifully each year. Lost my boat in Florence, which was settled as a constructive total loss quickly and without issue at agreed upon value. "Great!" I thought. Until I bought another boat. Since I'd had a claim, they wouldn't even quote me. Progressive accepted the value requested for the CP23 without a survey and their Sign And Glide towing endorsement was only $30. So I, too, kept SeaTow and have both towing options.

BTW-just getting some experience on the CP23. What an impressive little boat. Moving from a Pearson 34 I expected much less stability. Since it's a 60/40 boat, remarkably there isn't much difference.