Anybody ever use Progressive Insurance for your boat insurance?

[Foredeck Shuffle]

Briefly. It was an easy business relationship. Took my money, I made no claims.

It is not normal to deny coverage for a broken mast - but it depends on why the mast broke.

Agreed that racing yachts usually require disclosure.

Well then, here's to Growrie insurance. I had a mast break on a Shaw 650, inspection found what was believed to be a tiny void in the mast layup at the break point. Growrie covered a new mast from C-Tech, shipping included. They mentioned they may go to the original builder but I never heard a word more about that.

 

[Bump-n-Grind]

It is not normal to deny coverage for a broken mast - but it depends on why the mast broke.

Agreed that racing yachts usually require disclosure.

when I broke the rig on my J30 in 2001 in a collision with another boat. Allstate wanted to deny my claim initially, but my agent, who also happened to race a J30 stepped in and explained to the adjuster (who came from their RV division and knew fuck all about boats) that my policy was written to cover full replacement costs to everything particularly when racing, they coughed up.

The other boat involved was a Pearson Triton that emerged from our dustup without a scratch. We were at fault port boat in a port starboard. His bow came into our lifeline gate and took out everything from there back to the transom. When it tapped on my split backstay it popped to top of my rig off.

When I bought the 35 it was also insured with them. Haven't had another claim since and my rates have never gone up. Your mileage may vary and probably will, but I've been happy with them for my boat insurance. Everything else is with USAA.

 

[sledracr]

Reading with interest, as my insurer (GEICO) has decided to get out of the recreational-marine business, and I need to find new coverage (for my 30+year old boat) by mid-December....

 

[billy backstay]

Reading with interest, as my insurer (GEICO) has decided to get out of the recreational-marine business, and I need to find new coverage (for my 30+year old boat) by mid-December....

First I have heard of this? I just renewed my Geico policy for another year. OTOH, it's only an older 20 foot center console with ouboard for putt-putting around the river, so not too concerned about coverage, other than liability.

 

[Sail4beer]

This boat got coverage from State Farm last summer with no survey and good rates. Boat’s a 1948 Alden one design 38, not exactly a typical client’s boat.

 

[kent_island_sailor]

Experiences? Good, Bad, Ugly?

I use them for three boats.
Good - the price and coverage areas.
Bad - no idea, I have never made a claim.

 

[kent_island_sailor]

Just remembered: I think right here on SA we had a boat that was hit by a freighter which didn't stop. IIRC, it has been a long time since this post, Progressive did not know how to deal with commercial ships. They have agents and contact people ashore that can give out their insurance info, the ship does not have to physically stay there. So......if you get run into by a ship that keeps on going, you may have to do some legwork yourself. Saint Flo is busy keeping birds off cars.
* in this case fault was obvious, the boat was on a mooring

 

[Iain A]

A lot of 30 year old+ boats would be in the landfill if it weren't for Saint Flo. They are the last option for many. No survey. Just don't forget to tell them it's a bass boat with sails.

What they said, this boat owner included.

 

[Squalamax]

This boat got coverage from State Farm last summer with no survey and good rates. Boat’s a 1948 Alden one design 38, not exactly a typical client’s boat. View attachment 551846

I tried state farm, but they don't cover my area.

 

[FastSailR]

I have never used Progressive, but my marina managers have told me that they are an automobile insurance company masquerading as a boat insurance company. I have used New Hampshire Insurance in the past (via an agent, Alameida Carlson Yacht Insurance), but switched when I sought an insurance rider to sail my Wauquiez Pretorien south to the islands. I recall that when I called the agent to inquire, the representative could not understand why I did not have a trailer to tow the boat south...duh! They were also quite shocked that the hull is a 1985 hull. They are a little motor boat insurer, apparently. I switched to GEICO and have been very pleased, although I have never had a claim to stress test the coverage (knock on teak). I have kept them fully apprised of my rolling refit. I secured an accredited rigger to provide a rig inspection prior to my voyage, and had a surveyor do a formal "insurance survey". His estimated value for the boat is what they insured it for, and it seems very reasonable. In my discussions, I became confident that the underwriting team actually seemed to know the square end from the pointy end, and what (for example) standing rigging actually is. They are FAR easier to deal with online. Most of the boats I race on use GEICO as well.

 

[Kevin Wyp]

Progressive: If your vessel sustains damage from a collision with a floating semi-submerged object (like a large tree) at night, and the hull breach is punched through and the size of a soccer ball, they will pay for the hole repair, but not pay to match the hull color throughout; best they'll do is only half the hull (and that was a pull), even if it's 5 year old faded steel blue gelcoat and impossible to match without spending an extra couple of days labor. They "feel" that a two tone hull is okay, on other peoples vessels, not their own. Sad that we couldn't just pay half the premiums for the full policy. Oh, and 45 days to repair is maximum time for inside storage charges, even if it's wintertime in New England, and it's 10 below zero while the boat is prepped for repairs.

 

[ochendiehl]

Part of my business is to do project management for larger boat repairs, like a contractor pulling in sub-contractors to complete a job. That said, insurance companies like us as it is a 1 quote stop.

Check the policy, but progressive and many others do prorate most the items on your boat. I've seen customers with new sails and canvas get a max value of 20% of new value because that is how it is written. Masts are usually covered if the fault is by an act of God or a true accident and not due to poor maintenance. Full replacement only comes in when repair costs are greater than a given percentage of the value of the boat.

One of the biggest problems we see is most adjusters couldn't tell the difference between a winch handle and a tiller... so when you get quotes to fix whatever broke, they need to be written with as many details as possible including why, how, methods, alternative methods that wouldn't be recommended, etc. in everyday terminology.

Personally, I've had good luck with State Farm. Price is slightly higher, but coverage is more complete.

 

[Gunny]

You get what you pay for w insurance. Grundy is probably one of the best.

 

[johnkimura]

Experiences? Good, Bad, Ugly?

Progressive is terrible. Marine adjuster first proposed repair by port tack Progressive insured by local shop at less than going hourly rate. Melges measurer said boat certificate would be cancelled and not reissued because of asymmetrical weight. Had to hire a lawyer to resolve, three months later, settling on a replacement boat in equal condition. Progressive did not pay for transport. Experience was highly frustrating to say the least and we lost half a season of sailing.

 

[kent_island_sailor]

You get what you pay for w insurance. Grundy is probably one of the best.

Please keep in mind that Grundy Insurance is unable to offer coverage options along the East Coast South of Cape Hatteras or along the Gulf Coast.

 

[Cheyne]

No problems, but also no claims. They lowered my premium this year by about 10%. We have cars and homes with them also and no claims for those either.

 

[Boomerang]

I have been insured by Progressive for 20 years. I have experienced two claims. The first claim was for a broken boom that broke at the vang connection while gybing. A more experienced adjuster might have denied the claim as this could have been a break waiting to happen. It was paid promptly. Recently I broke my carbon mast. It was an accident for which I was at fault (my shroud hit a channel marker and twisted the mast). The claim was for a significant amount but was also paid promptly for the full amount.

There are two types of policies, Agreed Value and Actual Cash value. With Agreed Value the insurance will pay for the repair without depreciation or deductions for age. If you have a total loss they will pay the agreed value listed on the policy. An Actual Cash value policy will deduct for depreciation and market value. If the repair cost is more than 80% of the market value of the boat they will declare the boat a total loss. You will be paid what other boats have recently sold for. It won't matter what value you paid for on your policy, if they can find other boats that sold for less that is what they will pay. These policy types apply to all insurance companies. Progressive has a policy that once a boat is over 20 years old they will only insure on an Actual Cash value. Get Agreed Value if you can.

Progressive is a great company to deal with for a boat owner. The policies have few or no restrictions, the policy cost is much less. They are a car insurance company that knows very little about boats, especially sailboats. If you know something about boat repairs or have a good boat repair shop, the adjuster can be educated so that you get what you need.

Final advise, don't ever submit a small claim. It's hard to get insurance and you don't want to risk having your insurance company drop you.

 

[bfloyd4445]

I don't like this farming out crap. You sign up for insurance with one company then find out your insured by someone else. I've only ever had one boat claim and the boat was hit by a drunken woman in a car. Made some scratches in the boat which cost less than $2,000 to repair 25 years ago. Was USBoat and still is but now its a different company. Wonder how much of the premium goes USBoat gets?
Anyone ever total up the amount they pay for insurance each month?

 

[gtleon]

I will not use them again. I hit a rock outside the Hotel Coral in Ensenada. I brought my boat back and had the keel repaired. There website says that they insure in Mexico, but the fine print says that you have to have a Mexican liability policy. They would not pay for the repair even though it did not involve liability. I think they use any way to get out of paying and their advertising is mis leading!

 

[billy backstay]

Anyone ever total up the amount they pay for insurance each month?

That's like saving all of my reciepts, I would have to slit my wrists!!

I think it's $40-50/month per rental property alone!! Add on Homeowners, cars, boats and personal liability, and you are talking some real money!!