wonder what others pay for liability insurance

[Deltasailor]

Originally Posted by rwidman

My entire bill including coverage for the boat and uninsured boater coverage is about $1600 per year. I can't break it down for you but since you apparently need insurance, you could just go ahead and get a few quotes.

My liability coverage is $300K and a separate umbrella policy brings it to one million dollars.

Realistically, you could easily reach a million dollars or more by killing or injuring someone or setting a marina on fire. If you own anything of value or ever hope to, liability insurance is a must. It's also the responsible thing to do.

My yacht in Greece has £2 million third party, and £60,000 total loss Cost £450 per year

[bobnlesley]

Originally Posted by arch007

...marinas in california require liability insurance for at least 300,000... arch

This is something I still can't get my head around: We often hear/see evidence of what a seemingly litigious society you have in the USA, yet the requirement and general level of liability insurance held by North American boats that we've met seems to be in the $250,000 - $500,000 range? Whereas our 'typical' European policy provides cover of £5 million/$6 million+ for any one incident. Even when related to a small/slow sailboat, I can easily envisage an incident racking-up third party claims for persoanl injury, property damage, pollution, etc. well beyond the 'typical' North American Policy.

In answer the OP's original question our current £5 million cover whilst cruising in the Caribbean/East Coast of North America runs at £160/$200 this year, it was similar for the Atlantic-crossing, around half that amount back on the east side of the Atlantic and we've just learnt that it will be almost double (£300/$475) for a Panama Canal Transit & Pacific Crossing.

[sailorchic34]

I've progressive liability only 300/100 for $100 a year. Think it includes fuel spills too.

[Brewgyver]

Originally Posted by Maka

I pay $25 per month, $1,000,000 liability, Portland Oregon, from State Farm.
Covers all of US 60 miles off shore, All of Canada, same and some of the Caribbean and Mexio

Maka, if you don't mind, could you tell us what provider? Given the extended range, that might be a pretty good deal.

I have $300k liability umbrella, plus hull coverage to the valuation placed by survey (a bit under $20k, for my 1978 Catalina 30), $1k deductible. The premium was ~$280, from SAFECO. Boat slipped in Ventura Harbor.

[hellosailor]

Bob-
"This is something I still can't get my head around:" It is called politics, Bob. Everyone agrees that some socialism is a good thing, so they force some mutual protection standards. And that it is burdensome upon those who cannot afford it, so they don't put it on the taxpayers in general, and they set a low cheap standard.
Years ago, I think it was Rhode Island where the auto insurance minimum was only $10,000, and you could set a personal bond or show the ability to pay that, so you actually didn't even need to buy insurance.
It isn't just the US or any particular state, political compromises are made worldwide. Our news today mentioned the infrastructure problems now in Houston, with submerged roads and no drainage. And, how just recently the federal government dropped regulations that would have required new construction to be built to higher standards to prevent these problems. Dropped because it would have cost more that way.
The voters don't grasp the concept of "pay the piper".
T-bone an old Hunter, $60k no problem covering the loss. T-bone an old tall ship at one of the seaport museums....Eh, a two or three million dollar policy may still not be enough to replace it.

BTW, many people mention Pantaenius. Unless they've changed (again), Pantaenius does not write any coverage for Colonials. There is a separate company called Pantaenius-US, with different criteria and different pricing, that operates in the US market.

[lesterbutch]

Originally Posted by rwidman

My entire bill including coverage for the boat and uninsured boater coverage is about $1600 per year. I can't break it down for you but since you apparently need insurance, you could just go ahead and get a few quotes.

My liability coverage is $300K and a separate umbrella policy brings it to one million dollars.

Realistically, you could easily reach a million dollars or more by killing or injuring someone or setting a marina on fire. If you own anything of value or ever hope to, liability insurance is a must. It's also the responsible thing to do.

Where I live, multi-million dollar yachts abound, we carry three million in liability because it doesn't take much of an accident to sink an expensive boat. I used to do surveys and the construction of some expensive boats certainly wasn't in the hull thickness. Many of them you could push on the hull and cause it to flex!

[cpt_757]

Originally Posted by arch007

Since all marinas in california require liability insurance for at least 300,000 I was wondering what others are paying ?

Just liability insurance.

arch

Insurance premium up in CA. For me liability only for $230 and full coverage is $740/year. I got a quote from BoatUS, they are almost or less than half of my current insurance.

[Cottontop]

Originally Posted by bobnlesley

This is something I still can't get my head around: We often hear/see evidence of what a seemingly litigious society you have in the USA, yet the requirement and general level of liability insurance held by North American boats that we've met seems to be in the $250,000 - $500,000 range? Whereas our 'typical' European policy provides cover of £5 million/$6 million+ for any one incident. Even when related to a small/slow sailboat, I can easily envisage an incident racking-up third party claims for persoanl injury, property damage, pollution, etc. well beyond the 'typical' North American Policy.

In answer the OP's original question our current £5 million cover whilst cruising in the Caribbean/East Coast of North America runs at £160/$200 this year, it was similar for the Atlantic-crossing, around half that amount back on the east side of the Atlantic and we've just learnt that it will be almost double (£300/$475) for a Panama Canal Transit & Pacific Crossing.

Quite right. If you injure someone badly, or disable them, $300,000 won't begin to pay the bill.