Insurance

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   So what do you guys do for insurance? In Kentucky, we don't have to have any insurance on a boat...which seems a bit ridiculous.  I feel self insured as far as damage or loss to my boat goes, but I wonder how you guys handle liability insurance given that we race these boats.  My marina requires that I carry 500,000. in liability insurance.  I was informed today that my insurer will no longer insure my Laser due to racing. 
It's kind of a joke. On the river and local lake I see high speed planing boats, fishing boats that must go 60knts to the new greatest fishing spot, party pontoon boats with multiple toddlers in tow on floaty toys or skis, and sailboats "racing" once a week.  Typical boat insurance covers all of the above except the 5 knot "racing" sailboat.  OK, rant over.  

 How do you guys handle insurance for racing?

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Ron Waterson Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 21 October 2014 Location: Rivals, KY Status: Offline Points: 117	Post Options Post Reply Quote Ron Waterson Report Post Thanks(0) Quote Reply Topic: Insurance Posted: 16 April 2015 at 10:39pm
	So what do you guys do for insurance? In Kentucky, we don't have to have any insurance on a boat...which seems a bit ridiculous. I feel self insured as far as damage or loss to my boat goes, but I wonder how you guys handle liability insurance given that we race these boats. My marina requires that I carry 500,000. in liability insurance. I was informed today that my insurer will no longer insure my Laser due to racing. It's kind of a joke. On the river and local lake I see high speed planing boats, fishing boats that must go 60knts to the new greatest fishing spot, party pontoon boats with multiple toddlers in tow on floaty toys or skis, and sailboats "racing" once a week. Typical boat insurance covers all of the above except the 5 knot "racing" sailboat. OK, rant over. How do you guys handle insurance for racing?
	Hull 147 - Angel's Share

Mike V Members Profile Send Private Message Find Members Posts Add to Buddy List Skipper Joined: 19 August 2012 Location: Hamilton On Status: Offline Points: 64	Post Options Post Reply Quote Mike V Report Post Thanks(0) Quote Reply Posted: 17 April 2015 at 6:26am
	I think you can insure your boat through US Sailing. I think they have a value priced policy for US boats. Here in Lake Ontario the standard is 2,000,000 in liability insurance. Most regattas require this level of coverage. My insurance company will not cover a power boat racing. My company is Preimier Marine.
	Sparkplug Hull #182 NYC

Mad Max Members Profile Send Private Message Find Members Posts Add to Buddy List Skipper Joined: 18 June 2010 Location: Buffalo NY Status: Offline Points: 55	Post Options Post Reply Quote Mad Max Report Post Thanks(0) Quote Reply Posted: 17 April 2015 at 10:57pm
	Hi Ron I rqce in Western NY and insured with Boat US. Have been with them 35 years, can't say enough about them. Dick
	Dick #122

silversailor Members Profile Send Private Message Find Members Posts Add to Buddy List Rookie Joined: 03 July 2014 Location: South Haven, MI Status: Offline Points: 16	Post Options Post Reply Quote silversailor Report Post Thanks(0) Quote Reply Posted: 20 April 2015 at 10:00pm
	I use State Farm. They cover racing as long as there is no money paid to the winner. A few years ago there was a collision between 2 local boats during a Club race. One rounded up coming around a mark and struck another right at the stays. It's rig came down and the boat was considered totaled. Neither were insured and because one was an a--hole, sued the other. To make a long story shorter, after paying their lawyers too much money, it settled for $5,000. In short... get insurance.

khardy Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 22 June 2004 Location: United States Status: Offline Points: 132	Post Options Post Reply Quote khardy Report Post Thanks(0) Quote Reply Posted: 21 April 2015 at 3:10pm
	USAA insures mine. I've also used Progressive and All State for sail boat insurance.

Ron Waterson Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 21 October 2014 Location: Rivals, KY Status: Offline Points: 117	Post Options Post Reply Quote Ron Waterson Report Post Thanks(0) Quote Reply Posted: 22 April 2015 at 12:04am
	Updating my insurance seeking experience...per suggestion I checked with USSailing to find that Laser 28 is not eligible for their insurance plan. The reason given was that the inboard motor does not fit their criteria. It was a good thought though, and worth a try. I requested about seven quotes from marine insurance companies, with two of the them replying that they would not insure me because I raced. It's possible that under writing a policy for racing in the state of Kentucky was a factor, since our state does not require boaters to have insurance. I don't know how it works, but it occurs to me that insuring boats in a state where there is no legal reason for an owner to insure a recreational vessel is a higher risk to the underwriter. Seems they are basically insuring me against the majority of recreational boaters on the water. At least one company requested a marine survey to complete the process. Mad Max, and fellow Ohio River Laser 28 ("Room For Crew") racer "Bill" both suggested BoatUS, so I think that is where I will land. They seem to have a reasonable policy that recognizes that I occasionally race locally. They have a "self survey" form that alleviates the cost of having a proper survey done. Just add photos at their website. They will provide a couple different options like "Agreed Hull Value" or a more bare bones coverage that gets you what you need to meet marina requirements in my area. Thanks for the help and suggestions.
	Hull 147 - Angel's Share

Bill Layton Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 15 September 2002 Location: Canada Status: Offline Points: 551	Post Options Post Reply Quote Bill Layton Report Post Thanks(0) Quote Reply Posted: 22 April 2015 at 9:28am
	It`s bizarre that US Sailing won`t insure a L28. It`s the same as a Farr 30 or Farr 40, they all have diesel saildrive engines. So many cruise boats also have diesel saildrive engines so perhaps speak to someone else because that reason is entirely without merit.

Ron Waterson Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 21 October 2014 Location: Rivals, KY Status: Offline Points: 117	Post Options Post Reply Quote Ron Waterson Report Post Thanks(0) Quote Reply Posted: 22 April 2015 at 9:48am
	Although I found it odd too, I have moved on. To clarify, I emailed the USSailing link to add Laser 28 to the one design sailing program so that it could be insured in their program. "It has a small inboard engine so it doesn't qualify. I can ask if someone can give you a quote?" was the response. I replied, "yes please ask someone else". To which I received a response from Gowrie Group that they do not underwrite in Kentucky. Both responses came from GowrieGroup email accounts.
	Hull 147 - Angel's Share

frfletch Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 13 May 2008 Location: Canada Status: Offline Points: 365	Post Options Post Reply Quote frfletch Report Post Thanks(0) Quote Reply Posted: 23 April 2015 at 12:53pm
	This whole conversation boggles the mind. It is usually inboard petrol powered engines that cause insurers to pause. But diesel? It a totally non volatile fuel. Perhaps they never heard of Diesel in Kentucky yet and think it is a mystery substance. Just finishing the final season of "Justified", so with my new education on Kentucky, I think you should check with insurers that may be domiciled in Harlan County where there seems to be a lot of competition for business with families diversifying all the time. If you can't get some kind of insurance from say Boyd Crowder, then check with Mr. Limehouse who always seems to have a stack of money around with no particular home. Surely he could insure a Laser 28! Honestly, I just can't imagine not being able to find insurance for a diesel powered boat.

Ron Waterson Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 21 October 2014 Location: Rivals, KY Status: Offline Points: 117	Post Options Post Reply Quote Ron Waterson Report Post Thanks(0) Quote Reply Posted: 23 April 2015 at 3:30pm
	My past insurer, Kentucky Farm Bureau, was happy to insure the Laser if I did not race. As mentioned, racing the boat was the problem. The motor issue wasn't really an insurance issue, it was an issue with USSailing designating Laser 28's as a One Design for entry to their insurance program. If you are basing your education of Kentucky on a fictional tv show, you might want to consider another source.
	Hull 147 - Angel's Share

frfletch Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 13 May 2008 Location: Canada Status: Offline Points: 365	Post Options Post Reply Quote frfletch Report Post Thanks(0) Quote Reply Posted: 23 April 2015 at 4:14pm
	Surely I was not being serious but was thoroughly thoroughly entertained by the highly fictional series which I'm sure has no basis in reality associated with the state of Kentucky. If it did, there wouldn't be anyone left alive in Kentucky

WJRyan Members Profile Send Private Message Find Members Posts Add to Buddy List Commodore Joined: 12 February 2008 Location: Louisville, KY Status: Offline Points: 223	Post Options Post Reply Quote WJRyan Report Post Thanks(0) Quote Reply Posted: 26 April 2015 at 6:54am
	I just renewed my US Sailing membership and when my packet arrived at the house it included an ad for the Gowrie Group Insurance. "For all types of boats - cruising, racing, powerboats, and more." In addition they have one-design insurance for 30' an under and offer US Sailing member 10% discount on the one-design insurance. You can request a quote at www.gowrie.com/yachtquote (code USS) or request a insurance review at 800 262-8911. I haven't used them but this might be another alternative. - bill
	Bill Ryan, Room4Crew, #155