Tom Machette wrote:
If you are a racer, I can garuntee you will not have coverage, as racing is a common exclusion for watercraft.
I personaly cannot reccomend you to cover your boat with only a homeowners policy. Buy a Watercraft Policy!
If you have a watercraft policy, you will have additional coverages such as uninsured/underinsured coverage, and can also include the trailer, personal contents, and generally is an all peril coverage. If you are racing, make sure they will cover you while racing or competing in a tournement/scheduled event.
I also have an Allstate policy on my boat, separate from my home & autos (also through Allstate). I can't tell you what my coverage numbers are, but I felt at the time they were more than adequate: comparable to the auto numbers. I pay about $70 per year. It was about the same on my previous monohull sailboat.
If you read the policy, it specifically says the policy does not cover racing, EXCEPT FOR SAILBOATS. Apparently the underwriters know that an organized race is probably the safest situation for a sailor, considering the likelyhood of Safety Patrols and other boats around.