Insurance

[Tenbuck]

I've had my boat insured with a company down in Seattle for the last 4 years but every year they get more difficult to deal with and significantly more expensive. Can anyone recommend another insurance company, preferably up here?
Yes, I tried searching this site but the most recent post I can find is from 2021, probably operator error, but hoping for more recent info.

 

[iofthetaiga]

I have liability through Progressive. Higher coverage at a lower cost than anybody else I could find. Can't speak to loss/damage coverage though.

 

[Daveinthebush]

I have mine bundled in with my other Allstate policies. $400 a year maybe. I have heard of some people switching to Sea Tow. I am a member and the safety benefits versa the cost is not an issue. I have been towed in once by them. Boat stuck in gear and the mechanic that fixed it says that he has never seen, what happened, happen. I do have towing with Allstate in the policy too. Again, I can't imagine the cost of being towed in with no insurance.

 

[Tenbuck]

Thanks guys. I had a PM asking what the problems with my current insurance company were. The big one is the policy renews middle of May each year. Beginning about a month prior I start prodding them to send me the bill because by mid May I'm gone, in the boat. I get the "we're working on it..." replies.
Two years ago after numerous calls bugging them for the new policy and the bill, the agent in Seattle says don't worry, just pay the bill when you get back. I return end of June to find multiple emails that my insurance has been cancelled due to non payment. When I called the agent in Seattle I was told the bill had been mailed (from the east coast) on May 15th with a due date of May 20th. When the payment was not received by the 31st my insurance was cancelled. Last year was pretty much the same but I waited for the bill before leaving.
The second problem is, of course, the premiums keep increasing. This year they were up to a little over $1900 which is much more than I think they should be. I have tried other companies, including Progressive, but a problem I run into is my boat has 3 engines, an inboard diesel, and 2 outboards. When I bought it it had the diesel. Great engine, sips fuel and moves the 25,000lb boat about 9 knots. I don't like single source propulsion though, if you have one engine and it quits you're out of luck. I couldn't add another Diesel engine so I had a pair of outboards added to the stern.
It's an unusual combination but was professionally done with outstanding results. Not only do I have TWO backup engines, the low speed maneuvering is much better in tight harbors, and the boat trolls great on one of the outboards.
Where the problem seems to be is when I talk with a new insurance company, the person taking the information over the phone gets to the item on the checklist where it asks how many engines the boat has and when I say 3 I am then told they cannot insure the boat.
I don't have the boat financed and currently only insure it for about a third of its value so am considering just dropping the insurance altogether. I am aware of the risks of this, but paid for 3 airplanes over the years by not carrying insurance on them.
I'd sure welcome anyone's thoughts though.

 

[Daveinthebush]

Why not use autopay on your banking app? Problem solved.

 

[Tenbuck]

App? What's an app?
I actually asked if I could set up some sort of auto payment and was told no. I have to wait for the bill to arrive then mail a check. Credit card not an option, but I think there's a way to pay over the phone thru my bank account. Still have to wait for the bill to arrive.
A third problem I have with my current company is they require the boat to be out of the water October 1st thru May 1st. I think this is not uncommon but I miss some great winter fishing.

 

[Daveinthebush]

An app is something you have your grandkids set up for you to automatically make payments. I wasn't trying to insult you, just brainstorming. How about having to bill sent to a relative and leave that person with a check or cash to cover it?

I ran into that "lay out" period one year. I switched insurance companies because it was MAY!!! After shrimp season started!! Obviously, insurance policies are set up by non-Alaskan's.

 

[sweepint]

I had both of my boats insured by Allstate for several years then switched over to State Farm. They all seem to be about the same but dealing with insurance companies and boats are comparable To dealing with a wife.... everyday is a new day.

 

[Hozer]

Just wanted to add my friend from Nanwalek ruined his Yamaha 150 lower unit hitting a rock across the inlet a few years back and Progressive would only finance an aftermarket lower unit out of Florida, not OEM. He had to make up the difference on a new Yamaha lower unit.
Point is...Progressive sounds good until you actually need to use them.

 

[excav8tr]

Look up Greg Mercer with anchor marine insurance & ak waters consulting…he’s local in anchorage

 

[Tenbuck]

Greg was the first guy I called. Left message, no return call. Texted a few days later and got a reply which led to a phone conversation in which he was going to email an application. A week later nothing. I texted him again and he said it was coming. A week later still nothing. Bugged him again and he sent it. I returned it to him and have heard nothing. He's either very busy or a flake.
In the meantime I've had great luck with State Farm.