Hobie Cat Forums

Hey, where are you guys getting $10 and $30 a year policies for your boats? I just got a quote from my homeowners for a separate policy and it was almost $700 a year with a $500 deductible. About $100 less with a $1000 deductible. That's crazy, I'd just as soon pay for my own repairs for that much.

I didn't get a separate policy, just got a "rider" on my homeowners through Liberty Mutual -- insured a 17' Larson I/O the same way for more than a decade [and insuring the Larson cost less than half of the $700 figure you've been quoted.... the TI is about $40, as I recall].

Madwand:
Double check your homeowners and car insurance policies, If my boat is damaged in a car accident while on the car I'm pretty sure it's covered by my car insurance, if damaged while in the garage it's covered by homeowners insurance.
A loaded 357 policy works well against theft (just kidding), but think about it who is going to try and steal a 20 ft boat from on top of your car with motorcycle locks through the hull, a Revo or something smaller maybe, but a TI I'm just not envisioning two teenagers running through the neighborhood with this monster boat on their heads.
Plus the hull itself isn't too expensive, all the expensive stuff we would keep in the house or hotel room, or locked in the car (which has a burgler alarm (most cars do)), you then use your 357 policy (just kidding).
You might want to just talk to your agent and make sure they know you have the boat, it's serial numbers, and proof of ownership (pictures work) and if an additional rider is neccessary.
If the boat is lost at sea, chances are I was on it and won't be needing it anymore anyway.
Another thing to think about is if damaged in a storm or something, chances are just a few parts will be damaged and they can be replaced (ie.. AKA bars, mast, etc), you don't need insurance for that. It's not like it's a $60k SeaRay.
Also if you happen to leave it on shore to go have lunch, never leave the mirage drives, paddles, or valuables in the boat, and put the drain plug in your pocket (thiefs wouldn't get very far). I've seen many paddlers eating lunch with their paddles and valuables next to their tables (just common sense).
Bob

Mine isn't as cheap as others state, but the price you list is way higher than what I do pay.

I only buy liability for my vehicles, so no coverage there and I wanted theft insurance while away from the house, so I bought a stand alone policy.

State Farm
$5,000 on TI
$2,000 on Trailex trailer
$250 deductible
$100/year premium

My insurance company would not add a TI rider to my home owners policy...insisted that a separate policy be added ($175/year with $1000 deductible). I checked around my area (Central Minnesota) and the cheapest rider was about $100 but then I would also have to change companies and their policies were expensive enough to negate the rider savings.

Right, that's what I found with my insurance company. $700. No other company I checked with even came close to $200. I did get one company down to $109 by eliminating everything in the policy except the 15000/30000 liability coverage with a $5000 deductible. So it appears my boat is not going to be insured.

If a homeowner's insurance rider is not an option, you might try BoatUS insurance - they do online quotes at http://www.boatus.com/Insurance/

Their form requires typing in the model name of the Tandem Island, but the AI and several other Hobie models appear in their drop-down menu, so it would seem that they do insure sailing kayaks. I don't know what their Hobie prices are like, but I did have their coverage on our MacGregor 26M sailboat back in 2005, and I recall it being ~ $300 for the boat, 50hp motor & trailer.

I just did BoatUS. There were no dropdowns for make and model. I got a quote for $110 a year with $250 ded for agreed upon price. They offered $89 for depreciated coverage, which is useless after a short time. I wonder if anyone on here with the super cheap coverage actually has the depreciation plan without realizing it. If I had a $10 a year boat policy, I'd have to seriously question if it covers anything.

Now if you can get rid of the $300,000/Property Damage/Bodily Injury, then it would be a lot cheaper. I tried to tell them it's a plastic boat. It's not gonna hurt anything if I hit it at 6mph with my plastic boat.

Anyway, I had to call to be sure I selected the right type of boat (sail) for this thing since there is no category for kayak/trimaran. The guy told me he didn't think they cover these after he looked it up online. He has to call the underwriter tomorrow and check to see if I can buy the policy.

It's a good deal if they do. And as a bonus, there's $854,400 free coverage for fuel spills!!

If anyone's interested, here's what I was able to get with BoatUS. I had to pay $26 to become a member first, but the whole year policy was $101. I believe there is a disappearing deductible as well.

Current Policy Number: XXXXXXX-11
Boat: 2012 18' HOBIE
Policy Period: 11/1/2011 - 11/1/2012
Policy Type: Yacht

Policy Coverage/Deductible/Premium Boat & Boating Equipment : $5,000.00
Investigative Services : 5% of the above
Boat & Boating Equipment Deductible : $200.00
Named Storm Deductible : $1000
Boating Liability per Accident : $100,000.00
Fuel Spill Liability : $854,400.00
Boat Trailer : $1,500.00
Boat Trailer Deductible : $50.00
Uninsured Boater per Accident: $100,000.00
Medical Payments per person : $1,000.00
Personal Effects per Accident : $0.00
Freeze State - Ice and Freezing Endorsment - Yes
Cruising Limits
U.S. AND CANADA COASTAL AND INLAND WATERS

Their default "Boating Liability per Accident" is $300,000 and doesn't cost much more, but I had it reduced anyway. My plastic boat's not going to do more damage than I can pay for out of my wallet anyway. This is an agreed value policy which costs more than an actual value policy. Actual value is what I suspect some people have with their cheaper policies. You can't actually replace your boat with actual value...If I destroy my boat or my 1974 trailer, they will give me the full amount I insured them for, minus deductible. Nobody else in the industry even came close to $100 for a year. Well worth the $26/year membership fee.

I'm glad to hear that BoatUS worked out for you - and it's good for others to know that they will, in fact, insure the TI.

Now that you are a BoatUS member, you might want to check into their Trailering Club. I think it currently costs $14/year [most of which you effectively get back in the way of $10 West Marine coupon], and they provide 100 miles of towing service for the boat trailer and towing vehicle when the trailer -or- towing vehicle breaks down on the road while trailering the boat. ("Trailering the boat" is defined as, towing the boat's trailer to and from the boat, as well as moving the boat.) They also cover labor for flat tire assistance for your towing vehicle or trailer, fuel delivery, lockout service, or a jump start - so long as the need arises while you are "trailering the boat". I've never had to use the service, but I can't imagine getting much more for $4.

Madwand, what cover do you have if you were unlucky enough to damage the spinal chord of a young swimmer, resulting in them becoming a quadraplegic? I would have thought you would need liability cover of $10 million or so....

tonystott:
At least in my case, if I accidentally injured a swimmer with my kayak, it would be very unfortunate, and I would feel very bad about it. I have a feeling though that without insurance nobody is going to sue you for ten million bucks. In my opinion just having that insurance makes you more of a target. It's the lawyers that get the bulk of the money in any of these cases, if there is no money to be had, then no lawyer is going to take it on. At least in my case I owe more on everything I own than any of it is worth. House (upside down), 2 cars (upside down), furniture (maybe worth a couple grand at best used. Kayak (they can have it). My cloths aren't going to fit anyone else and aren't worth much. Yes I work but I have to be allowed to live (food, rent, etc) so no court is going to leave me with nothing if my wages were indentured. And if they did I would quit and not work. You can't get blood from a rock is my motto.
If sued a jury would have to prove gross negligence, for example if you were driving your kayak on a ski rope at 40 mph behind a big powerboat and ran into a crowded beach, thats gross negligence, however the lawyers would likely chase the powerboat owner for allowing it to happen, and in that type of circumstance hopefully someone would be also be going to jail, (insurance doesn't help you with any of that), and it's likely to be the powerboat owner doing time rather than the poor sap riding in the kayak.
If you were kayaking just off shore and a big wave takes you and your kayak in the surf and you hit someone accidentally, thats not gross negligence on your part, it's just an unfortunate accident. It's also more likely you get hurt just as bad or worse than the poor sap you hit.

Instead of a kayak lets say I was in a grocery store and turned the corner of an isle and hit sombody with a cart and they fell back and broke there back. I doubt very much I would be the one being sued for ten million, lawyers would try to go after the grocery chain, however if I was a very rich movie star or something, the lawyers and law suits would be all over me (there would be people peeking around corners watching for me to come by to create such an accident as well ( I actually know people who do this and they make out pretty well creating accidents and living off of the settlements)). Accidents do happen in life and it is unfortunate when they do. But getting liability insurance on my kayak or my bicycle on the 1 in ten million chance I get in an accident and hurt someone is going to make an insurance person very happy, but realistically it's wasting your money unless your a movie star with a big target on your back, or your stupid enough to put a super charged nitro fueled 454 in your kayak and drive it into a crowd at 90 mph (then you deserve to be sued).
Bob

Bob,
I truly hope that I am not the only one totally gobsmacked by your response!

So you seem only concerned about the effect on your own financial position in the event that you cause serious injury to someone? Doesn't it bother you that without any public liability insurance payout, your victim would be condemned to a life of unimaginable hardship?

I couldn't sleep knowing my actions could result in such a horrible outcome. Perhaps you and I are made of different stuff

Most auto policies state in order to be covered under the policy, the item must be permanently attached to the vehicle. However, don't assume that your homeowners insurance will than pick it up either. You really need to check with your agent on this. Being a boat they probably say it need its own policy.

_________________
Jeff Serene
1984 Hobie 18 Magnum
Phoenix, AZ

tonystott :
Ok I probably over dramatized some of it. I doubt anyone could get a 454 into a kayak. But I think me riding in my kayak at 3 mph isn't likely to hurt anyone, and if a freak accident did occur, thats exactly what it is a freak accident, stuff like this happens all the time. People walk down the street and a tree falls on them, people get hit by lightning. The question is should I pay for liability insurance to cover for something that has a 1 in a gazillion chance of occuring. If someone sued me for 10 million dollars it would take me 1000 years to pay it back, I'm only going to be around for 5 more years best case anyway. And with someone with a bad injury I would guess the 10k a yr I can earn (after living expenses,rent, food, etc). I will gladly add to that a portion of my social security if I live long enough to start collecting it (doubtful). Thats all there is I have nothing else, except the $2000 dollars I have in savings for my retirement ( I don't have any life insurance). I could bring them a sandwich everyday or mow their lawn, but with ten million dollars in their pocket they could easily afford a huge mansion with maids, and a staff of lawn people, Ferrarri in the drive, etc, while I live in a trailer (hopefully), hungry and pennyless. Of course they wouldn't be able to start collecting until after I pay back the $100k or so in medical bills from my last heart attack. Thats not including the $300k I owe on my house which is only worth $150k now. I sent 5 of my 6 kids (#6 is only 18) through college and still owe $50k in college loans which I assume would also need to be paid back first. All my kids have BA or masters degrees from good colleges but most are not employed or working at Mcdonalds (no jobs out there) and I have to continue supporting most them (some in their 30's). My situation isn't too different from anyone elses that I know in America in my age group.
So forgive me for not feeling sorry for the lucky SOB that I hit and gets $10 million for it. If you do end up getting $10 million in liability coverage for your kayak please post where you regularly kayak, there will be a line of people trying to jump in front of your boat trying to win the lottery.
Sorry for the long response, but a snapshot of reality sometimes helps.
Bob