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I know my Flying Scot is insured while being towed by my car via my auto insurance policy. What I am trying to determine is – should I have insurance for the Scot while on the water and for protection of other possible liabilities?
What coverage do other Flying Scot owners have? Does FSSA offer insurance for Scots? [?]
Andy
FS 4957Insurance is available at a fairly reasonable cost through an affiliate of US Sailing. They have insurance specific to one-design racing boats and you can name your value of your boat.
http://www.ussailing.org/membership/Insurance/
Phil Scheetz
FS 4086I just went through research myself earlier this summer. I recommend Boat US (www.boatus.com)too. I found they had better policy features for me. Depending where you sail/travel US Sailing and Boat US definately offer different items on the policy and pricing. Boat US has great road trailering coverage and on water towing if needed (usually big water), and damage/replacement coverage. Gettng coverage through my home owners policy was going to be expensive and not really cover anything (say full loss of the boat in an accident while towing). I used their Boat Saver policy and paid $127/yr. ($108 premium and $19 annual Boat US membship).
Let us know who you go with.
TomT
quote:I know my Flying Scot is insured while being towed by my car via my auto insurance policy.
Only if you have a special endorsement, which most insurance companies will not grant.
Your trailer is covered, but not the boat itself.
Well, Transom, you were right. I just checked with my agent – auto policy only covers trailer. Now to check my homeowner’s policy.
My real concern is liability coverage. [B)]
I was suprised too to find out that my auto policy only covered the trailer when in use only. My home owners policy really wouldn’t cover anything either even with extra endorsements. My Boat US marine policy covers my trailer & boat (in the water & out). You can get just liability or comphrensive insurance. I want to protect myself if I damaged another boat and also from any uninsured boaters. There are probably a lot of uninsured boaters or not fully covered boaters out there. Just like a car, a boat is a seperate “vehicle” from the trailer or by itself in the water.
TomT
Without a doubt, you best protection for liability coverage is to have a separate boat policy. It protects you for damage you do someone else’s boat, if you hurt someone else, or if they hurt themselves while on your boat. You can add damage to your own boat if you choose to do so.
Be careful in relying on your homeowner’s policy. Yes, in most cases (but not always) it covers owned boats under 26 feet. But many policies also contain further exclusions so that coverage is not afforded if
1. you are involved in an organized race (sometimes this does not apply to sailboats as long as you don’t use an engine)
2. the boat has a motor (including electric), although most policies say that it has to exceed 25 hp (anyone got a 25 hp enging on a FS?)
3. Anything else the company does not want to cover.There is no such thing as a “standard” policy, every company varies. Nor, is there such a thing as an “all-risk” policy, there are always exclusions.
Companies vary widely in thier coverage. You need to ask you agent under what circumstances you are not covered for liability to others or damage to your boat under your policy – when it is at home, in storage, attached to a vehicle, or on the water.
Disclaimer: I am a Chartered Property and Casualty Underwriter (CPCU), but I haven’t dealt with personal policies in probably a decade. I work with commerical policies for Fortune 500 companies and they tend not to own sailboats, or at least, ones not so small.
Well, I have looked at BoatUS and USSailing. At first glance, I did not like the depreciation calculations for determining my Scot’s value. Guess more phone calls are in order.
Any other suggestions from FS owners?
TKS
Andy
FS4957quote:Originally posted by Andy Carrier
My real concern is liability coverage.
When you say your concern is liability, I can almost say for sure that your automobile insurance covers damage caused to others by your boat or trailer while driving (up to the agreed-upon limits). Your policy may also cover your own loss regarding the trailer but, as Transom points out, not the boat.
“If the sea did wild or wicked things, it was because she could not help them.” – Hemmingway
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