Unsure About Insurance

For owners of older sailboats, the insurance market is getting complicated.

Issue 144: May/June 2022

David Sharp, who’d sailed his 1969 Tartan 34C, Pegasus, for many years out of Newport, Rhode Island, decided in spring of 2020 that it was time to shift to trawler mode. He put Pegasus on the market, and his broker eventually found a cash buyer. All seemed to be going fine until the buyer tried to obtain insurance for the boat, which Sharp had, until then, insured with Geico/BoatU.S. without issue.

“I had assumed, as did he, that an experienced ‘elder gentleman’ with no history of marine insurance claims would have no trouble insuring a name-brand boat with an impeccable survey and only a 14-hp engine,” David wrote to the editors at Good Old Boat. “We were wrong. BoatU.S. and several other companies informed us that they no longer insured boats older than 50 years—with no exceptions.”

The news nearly sank the sale, David says, but thanks to his broker’s persistence, the buyer “was finally able to get the boat insured with a specialty company, although at considerable cost and with many deductibles and restrictions. The sale was completed, but it was quite a stressful process for all involved. My take on this is that mainstream insurance companies do not have the expertise to assess the real risk in insuring good old boats, and if the boat’s statistics on paper don’t fit well into their software algorithms, you are out of luck!”

His story isn’t an outlier. Spend any time on social media platforms related to sailing or owners’ forums for particular boats of a certain age, and you will invariably hear more stories like it. Global changes in the marine insurance industry have caused turbulence in the insurance market that is being felt downstream, says John Miklus, president of the American Institute of Marine Underwriters (AIMU), and owners of older boats are feeling the effects more than most.

The handwriting has been on the wall for a few years. Pantaenius Yacht Insurance dropped American boats in 2019, after other London companies like Falvey Insurance Group stopped insuring boats or tightened their allowable age categories. Previously grandfathered boats were not renewed, major changes were made to depreciation schedules, and greater emphasis was placed on consequential damage (for example, parts failure due to maintenance issues) in insurance claims.

Specifically, Miklus cited Lloyds of London; the firm that formerly insured anything up to and including Hollywood starlets’ legs is no longer doing as much “specialty” insurance. Managing general agents (MGAs) that traditionally had authority to write policies for carriers have been cut out, Miklus says. “The yacht line hasn’t been profitable, so it was cut way back.”

Shifting weather patterns resulting in extreme storms and wild weather have been big contributors to the changes. “What makes or breaks the profit of a company is hurricanes,” says Miklus. “Florida, New England, and Chesapeake Bay have a big concentration of value, and it’s bad for insurance companies if the wind blows there.”

Emma Whittemore, a service manager for Geico/BoatU.S., agrees that more frequent and extreme weather has been a factor. She also notes the COVID-19 effect: “There are more people, and less experienced people, boating since the pandemic started, which means more claims.”

Finally—and perhaps least surprising—is data. Apparently, drilling down to specific categories of policies identified a big leak in profits: older sailboats. This gave insurance companies reason to tighten requirements–such as frequent surveys and proof of operator competency–as well as to drop entire segments of coverage.

Geico/BoatU.S. is one of several companies that has stopped insuring sailboats over 40 years old, Whittemore confirmed. (According to the BoatU.S. website, the organization in 1967 started offering insurance to recreational boaters “in plain English, instead of using the old, often indecipherable Lloyd’s of London language.” In 2015, “BoatU.S. was transferred to Geico, another Berkshire Hathaway company, to better align for growth.”)

“Businesses are reevaluating where they want to be,” says D. Scott Croft, vice president for public affairs for BoatU.S. “Some insurance companies are pulling out of high-risk places like Florida entirely.”

Croft and Whittemore suggested that Geico/BoatU.S. could return to insuring older boats when the market stabilizes. Spokespersons from Progressive and Chubb declined to respond to requests for comment on this article.

Troubled Waters

Sailors certainly understand the effect of crazy storms on insurance coverage, but most were previously insulated from major changes in the insurance industry in general. No longer. Now, companies are requiring frequent surveys of older boats just to maintain insurance, accelerating depreciation schedules, and requiring surveyors’ recommendations that don’t always make sense to the owners.

To help inform this story, Good Old Boat editors asked readers to email their experiences with insurance; the responses were quick and numerous. Many readers say they have been and remain happy with their insurance coverage.

Peter Hickock of Mechanicsburg, Pennsylvania, says he’s the third owner of his 1962 Pearson Vanguard, Contessa. Since he bought the boat in 1967, it’s been insured by AMICA (Automobile Insurance Company of America), which also underwrites his auto, homeowners, and liability insurance.

“Our experience with AMICA, which is a mutual insurance company, has been excellent,” he wrote via email. “Premiums for Contessa have been stable and reasonable. They have regularly lowered the value of the boat, but that is pretty much in line with current prices for Vanguards. I have occasionally requested an increase in value when I have made major repairs or upgrades, and, with documentation, they agree to my requests.”

Similarly, reader Bob Miles, who has sailed his 1979 Cal 34 Mk III on the Great Lakes “for a dozen years,” reported that Geico has insured the boat for the duration, and it’s been “a great experience.” This includes covering damage to the boat during a storm on Lake Superior, when it was “slammed against a solid pier in the Apostle Islands for many hours. It caused extensive damage to the hull, interior cabinets, and bulkheads. Geico sent out an adjuster and then waited for the marina to submit a quote. They sent a check to cover the estimate and an additional check for unseen damage at that time. No arguments, no hassle. The next year’s premium went up $250, but that partly was due to a requirement of higher liability coverage by a new marina.”

But others wrote in expressing a range of frustrations (See sidebar “Readers Weigh In”). Many were understandably exasperated or perplexed by the situation they’re in, particularly those who did everything right for years only to be dropped by their longtime insurers. We heard from an owner in Maine whose insurance company demanded that the boat get hauled and repaired for bubbled paint (while the owner was hospitalized), another from Annapolis whose insurance company wouldn’t cover the boat for the short transit between the broker’s yard and a repair yard, nor for several months while it was being refitted, and yet another who trailers his boat from the Great Lakes to Florida, necessitating policies with two different companies.

Geography has a lot to do with boat owners’ success (or lack thereof) when it comes to insurance, as does boating experience and even one’s credit score and motor vehicle driving record.

“I carry only liability insurance for Florida waters and feel lucky to have it,” says Kenneth Stuber of Titusville, Florida, who has a 1980 Bristol 32. “I have found it is very difficult or almost impossible to obtain hull insurance on a boat over 20 years old in Florida.” (For more about hull insurance versus liability-only, see “What is Self-Insurance?”)

Plenty of owners, like Lake Ontario sailor Will MacArthur of Fair Haven, New York, aren’t sympathetic to Geico/BoatU.S. and other companies that have discontinued coverage for older boats—including those that were previously grandfathered (Geico/BoatU.S. stopped grandfathering sailboats over 40 in 2021).

“I own a 1969 C&C Corvette, Scotland Light, on which I just completed a fairly extensive refit,” MacArthur wrote. “I currently only have a liability policy, which also includes a rider for fuel spillage. My current insurer is Progressive. My refit included a new Beta diesel engine, fuel tank, exhaust system, and controls. All hoses have been replaced with new and double clamped wherever possible. All through-hull fittings were replaced with proper Marelon or bronze seacocks. Additionally, I put in a new head and holding tank. I also replaced all the running rigging. I replaced the 1-inch cockpit drains with 1.5-inch drains. As I used to do this sort of thing for a living, I consider the work to be of a professional nature. It would have been nice for BoatU.S., given all their proactive boating hype, to be a bit more open to insuring well-maintained and outfitted ‘classic plastic’ boats.”

Unfortunately, though, not all boat owners are as experienced or as thoughtful about maintenance, and this can lead to problems, as Michael Bonicker, lead instructor at the American Boat and Yacht Council (ABYC), the organization that sets standards for marine safety and construction, points out. Though he agrees in theory that many boats over age 40 were well made and are likely still seaworthy, he adds a caveat that’s pure logic: As sailboats age, they are likely to have multiple owners—of varying boat maintenance and DIY capabilities—who may not pay attention to maintaining seacocks and through-hulls or may engage in some ill-advised DIY involving electrical systems and wiring, justifying some of the insurance companies’ actions.

The value of older boats is also an issue, says Kerry Gonzalez, principal of AMG Insurance International of West Palm Beach, Florida. “A lot of underwriters do not want to insure a boat if it is not valued at or above $100,000. An $80,000 older boat will struggle to find insurance options. I say hang on tight because new requirements will be much more expensive than the policy costs.”

If you are able to get coverage but the insurer requires upgrades or repairs recommended by a surveyor, this, too, may become problematic due to a shortage of qualified technicians to do the work. Sometimes the delay in repairs or refitting work can cost an owner their insurance coverage entirely, as waiting for parts or the right technician can run out the clock.

“Finding qualified people is very difficult as we’re short on the supply of tradespeople of all sorts,” says ABYC’s Bonicker. He traces shortages of parts back to the Great Recession of 2007-2009, when local dealers and yards stopped keeping large parts inventories on hand. When repairs require parts that only manufacturers can supply, weeks may be added to downtime—and pandemic supply chain interruptions are only exacerbating this. If this delay causes an issue with a required item on a surveyor’s list, the boat may be dropped from insurance altogether.

Whittemore of Geico/BoatU.S. adds that the shortage of repair specialists has driven up the cost of claims as well.

Good Old Boat reader Dale Tanski, who owns Obersheimer Sailor Supply in Buffalo, New York, says there’s also irony in how claims are paid depending on how experienced the insurer is with boats—and especially sailboats—in general.

“What appears to be against natural logic, the more a company is aligned with insuring marine assets the less they actually will,” he said via email. “We see this when customers submit a damage claim on a sail or furler. It seems that if the insurance company is a well-founded, recognized, marine-oriented company, most often the claim is denied. If the company is your basic run-of-the-mill insurance company (the Geicos of the world), we are most often contacted by the underwriter, and they openly admit that although they insure boats, they know nothing about sailboats. When they arrive to inspect the damaged sail, they often ask us what to do.

“We have had customers’ sails replaced that were over 20 years old. The typical sailor would know that a 20-year-old sail, even if well taken care of, would have little value left, but they typically cover a complete replacement. On the contrary, some of the best-respected marine insurance companies we have dealt with will deny a reimbursement on a 5-year-old sail.”

Tanksi’s recommendation to fellow sailors who are having trouble getting insurance is to “contact the most run-of-the-mill company or companies you already have insurance with and add your boat to the ‘bundle.’ ’’

BoatU.S.’ Croft says the recreational boating advocacy group is combating the trend of tightening insurance options by providing services such as boater safety classes and storm preparation guides. Sailors who take advantage of those educational services may help to lower their insurance premiums, avoid a wreck, or simply better understand their insurance needs and documents, he says. (See sidebar “Looking Good”)

Navigating the New Reality

Owners bear some of the responsibility for not educating themselves about best practices in insurance and then complaining when policies aren’t honored, experts say. For instance, if your policy includes a coverage note regarding risks from the Carolinas to the Gulf Coast and you sail there, you must update the insurance company within 15 days, or the coverage may be voided. The same thing happens if you move and don’t update the address on your insurance application: voided.

AMG International’s Gonzalez says boat owners need to understand that the “intent of insurance is to cover unanticipated damage, not wear and tear and certainly not anticipated damage related to choosing storm-prone areas without a sufficient storm plan. Most (not all, but most) claims are the result of poor decisions, below-acceptable maintenance, or a lack of planning.”

More important is knowing what’s in the fine print of your policy: how consequential damage works, understanding exclusions and when a rider is needed, and when in a marina, being covered for environmental damage from fuel leaks.

“They call me the Grim Reaper at classes I teach,” says Gonzalez, who offers seminars on boat insurance at boat shows. “Lots of people buy older boats to save money, but then it’s more expensive to insure it every year as it ages. The premiums go up because the risk increases every year. It’s more work for an agent to insure an old boat than to insure an entire marina” of newer boats.

Key takeaways to navigating the new insurance waters, Gonzalez says, include understanding that:

• Surveys are now required by most companies on any boat over 30 feet, even on lakes.
• If a surveyor requires something, you must comply 100%. For a new-to-you, older boat, you have 30 days to comply, which can become problematic if you need fabrication of parts that are no longer available or discontinued.
• Many people are caught off guard if their current policy is lapsing and suddenly they run out of time to shop for a new one.
• Owners should line up a survey 60 days before an insurance policy is to be renewed and plan for an engine inspection and sea trial regardless of season.
• Rigging inspections are now common for boats over 20 years old in hurricane-prone areas south of North Carolina.

Gonzalez and other experts advise owners of boats approaching or over 40 years old to never let an existing policy lapse, because it may not be possible to get another. They also advise looking to your auto and homeowner’s insurance company for boat insurance first. Read the fine print, including exclusions, such as for those who venture more than 12 miles from shore, including in the Great Lakes. And do your best to understand your policy’s requirements and exceptions so it’s worth more than the paper it’s printed on. (For more on these topics, see “Boat Insurance 101.”)

“It’s a bit of a game how the industry works,” Gonzalez says. “We are not your friends.” She offers the example of a fire at a covered marina in Alabama that started on one boat and wiped out dozens; the owner of the boat where the fire started (in an electrical panel) was liable not only for the other boats but for the environmental damage created by all of the burned boats, prompting underwriters to balk at insuring any boat in a covered marina.

But she acknowledges, “It’s a two-sided problem. The insurance industry is forcing the issues of ‘seaworthiness’ and related generally acceptable maintenance, itinerary and storm planning, planning for the ‘absentee’ owner, and due diligence a boat owner should be exercising anyway. People need to understand the increasing exposure to ‘Acts of God’ including lightning as well as hurricanes; these claims are incredibly costly.

“On the flip side (and more prevalent) is the fact that the marine insurance market has accepted ‘unacceptable risk.’ People take risks they would otherwise not take personally if they were unable to purchase insurance. The insurance industry is as much to blame for this market implosion. They have had rates that have not been sustainable and underwriting guidelines that have not exhibited an expectation of proper risk management of the boat owners.”

Two bright spots that Gonzalez sees: the West Coast, specifically Washington state, continues to be among the easier coastal locations for insuring older sailboats, and sailors with boats under 32 feet and younger than 40 years old are insulated from the worst of the industry changes.

Readers Weigh In—The Editors

To get a sense of what our readers are experiencing when it comes to insuring their boats, last summer we sent an email asking for your stories. Here are some of the responses:

We have a 1974 Nicholson 38 ketch made by Camper & Nicholson, moored in Hilo, Hawaii. For a few years (2016-2019), we had insurance from Progressive, no survey required. But they annoyingly dropped us in 2019 due to the age of the boat. The coverage had been for $40,000 boat value plus $500,000 liability. Being dropped with only one month’s notice was nasty, because insurance is mandatory to retain our slip.

In 2019 to current, we have coverage from Markel Insurance. Markel did not require a survey to obtain this coverage. Binding the insurance was sufficiently simple, working through RSC Insurance Brokerage of Annapolis. Hull coverage is $40,000, deductible $800. We have $500,000 “Protection and Indemnity” (aka liability). We are restricted to the seven major Hawaiian Islands, not more than 50 miles offshore any one island. Cost is almost $1,100 per year. We have never filed a claim, so cannot comment about that aspect. —Marilyn Johnson, Rainshadow, Nicholson 38

I have been with BoatU.S. for years—long before they turned over the business to Geico. They were easy to deal with and handled my one large claim fairly. Our newer and smaller boat (1984 Pearson 34) was also easy to enroll, but the premiums rose by 15 to 25% each year! That’s with no claims ever on this boat. Now I’m paying $500 per year including unlimited towing. USAA refused to insure due to the age of the vessel, even though they have covered our home and cars for over 40 years. —Roy Belcher, Marion, Massachusetts

I have a 1987 Shannon 43. Coverage was with Pantaenius and got dropped last year as they pulled out of the litigious U.S. market. Can’t say I blame them. A U.S. boat can still get insured outside of U.S. waters. We shopped around a lot. Either it was stupid expensive like the guys out of Annapolis or Geico/BoatU.S., of which we heard horror stories…Then we heard about State Farm. Wow! We’re pleased. Agreed hull value according to survey, great cruising area for our needs, and a rider if something else more distant. —Tony Carey, New Bern, North Carolina

I have a 1973 Pearson 30 that I singlehand all the time, and it is very dear to me. It has an Atomic 4 which, although pristine, makes the resale value of the boat about $6,000. Given that I spend $2,800 a year for dockage and a bit more for biyearly haulouts, I could scuttle the boat and be ahead of the game financially in less than two years. So, I don’t insure my boat, or you might say that I’m self-insured. My boatyard requires me to have liability insurance in case my boat damages another boat, so I spoke with the agent who handles my homeowners’ insurance, and he said that I would be covered for liability damages caused by my boat. In fact, he added an addendum to my policy, a “Record of Certificate Holder,” specifically listing the name and address of my boatyard.

But, just this spring, before renewing my slip holder agreement, the boatyard told me that I had to show proof of insurance that included the phrase “$300,000 Combined Single Limit” and stated in writing that it covered: 1) fuel spill liability, and, 2) wreckage removal. My Erie homeowners’ insurance did not cover that. Geico/BoatU.S. wouldn’t insure my boat, but I was able to get what I needed from Progressive for $258/year. —John Zseleczky, Annapolis, Maryland

Yes sir, this topic has me all messed up. We bought a new-to-us 1979 Mariner 40. Having a hard time finding an insurance company, even with our recent purchase survey. I’m just trying for liability now to meet marina requirements. I keep getting no due to the age of the vessel. —Adina Floyd, Green Cove Springs, Florida

I’ve actually had a very good recent experience. I recently purchased a 1973 Pearson Ensign. Through the Ensign Class Association, I got a recommendation to use Gowrie. They have a program specifically designed for one-design boats. The process was smooth and efficient, and price seemed to be very reasonable. —Stephen Still, Chautaqua Lake, New York

My 1989 Pacific Seacraft Dana 24 is insured by BoatU.S. (underwritten by Geico). While the “agreed value” for the boat (hull and equipment) is about one-third of the actual market value, my primary interest in the insurance is the liability coverage, both general liability ($500,000) and pollution liability ($939,800), and in those fields, the coverage and price are acceptable. Covered sailing territory is coastal and inland waters of the U.S. and Canada. I have no idea what Geico does if one actually files a claim; I hope I never need to find out. —Henry Li, Seattle, Washington

I bought a 1979 Seafarer Swiftsure 30 in the summer of 2020. The boat has been at Carlyle Lake for a decade or more and we planned to keep it there, and it isn’t a terribly expensive boat so I decided to rely on my own skills in surveying it (I know that is a debatable path). We closed the deal on the boat and then sought to gain insurance on the same day. I was able to easily and inexpensively add it to my auto policy but was informed I had to have a formal and professional survey completed within 30 days due to the age of the boat, regardless of the value. It was very difficult finding a surveyor in our area that dealt with recreational sailboats, and part of the cost would be at least two hours’ travel time. Out of desperation, I called our insurance broker that covers our home and business. They came through beautifully with better coverage, lower premiums, and no requirement for survey. We do have a limitation to coastal cruising, but that isn’t an issue in our lake. —Matt McCarroll, Carlyle Lake, Illinois

I have recently sold a 1995 Island Packet 37 and bought a 2005 Island Packet 420. Both boats were based in Sarasota, Florida, and tied up in a yacht club marina. I have comments on both:

We owned the Island Packet 37 for nine years and utilized BoatU.S. for insurance throughout. In the later years, they provided Geico as underwriter, and when the boat turned 20, I did become aware of the reduction in coverage—but not by information from BoatU.S. or Geico. I learned of this from reading Good Old Boat and Practical Sailor. I was not happy that there was no notification from the insurer, and that they somehow felt there was an issue with boats over 20 years. But, it was not the reason I sold the boat and got a newer one. If I had kept the 37, I would have shopped the market more.

We knew the Island Packet 420 was somewhat of a “project” boat when we bought her, needing mostly TLC. But Geico/BoatU.S. would not insure the boat until we had completed most of a surveyor’s recommendations. They would not insure the boat for the 30-minute transit from boat broker’s marina to the boatyard where some key refit was planned, and not while the boat was in the yard—which turned out to be three months. They would give me a multiple boat discount, but I chose a different path, insuring the 420 separately, and ultimately selling the 37. —Barry McClure, Sarasota, Florida

I carry Progressive and have had no issues (have not made any claims either!). I sail a 2007 Precision 18 on the James River in Virginia. Previously I had insured an older (1986) same Precision 18 model. Due to an act of vandalism, a boat in my neighborhood marina caught fire and melted my hull. The boat was a total loss. BoatU.S. sent an adjuster to the yard who had obviously never handled a boat claim before. He did not know what he was looking at, what questions to ask—I was shocked. I settled my claim, but then I dropped them. —Richard Schauffler, Williamsburg, Virginia

I recently sold my 38-foot 1985 Cabo Rico due to several factors, one being a 30% increase in my insurance from Geico/BoatU.S.. My insurance increased from $1,500 to $2,100 with only two weeks’ notice before the policy ended. I did not have any accidents or claims in the nine years that I owned the boat. Over that span, the boat was professionally maintained, and I had added several safety features like an engine room auto fire system, high-water alarm, Garmin radar, GPS plotter, radio/AIS system, and more. I even swapped out the standing and running rigging.

I questioned this position via the Commonwealth’s Attorney General’s Office, Division of Insurance Investigation, and was told that my “personal and boat insurance segments” had changed, and that driving a boat in New England has become dangerous over the last couple of years. I asked to define “insurance segments,” as the boat has been moored in the same marina from where I purchased it.

The only other thing that has changed is my age.

This hurts, because this is my third boat, I spent 30 years in the Coast Guard, retiring at the rank of Captain, and at one time held a merchant license. I inquired with Sea Insure, and after a survey the price was estimated at $1,200. —Captain Mike Cicalese, East Greenwich, Rhode Island

Progressive inherited coverage for my 1996 catamaran from USAA, which had stopped providing boat insurance and sold the business to Progressive. Progressive was bound to continue my insurance as part of the agreement with USAA, unless I made any changes to the policy. When I called to get a certificate of insurance naming a marina where I was wintering, they used it as a change of coverage location and said they were discontinuing my policy.

I tried a variety of insurance companies. None would provide damage/loss coverage, even with a survey. All were highly restrictive on locations and the maximum value. Chubb did eventually take the risk, after a complete out-of-water survey was done. They insured the value of the surveyed boat. I felt quite relieved, as I had a lot of money in the boat after a recent refit.

For many boat owners who focus on caring for older boats, their motives are pretty obvious. They get a solid-built boat in which they can invest as much as they want, to get it to the condition/features they want, and usually not get anywhere near the cost of a new(er) boat. In my case, I repainted, repowered, and did a hundred little things to my 1996 PDQ 36 catamaran. Its original loan is long paid off, and I have all the features I’d want in a boat, new or old, at nowhere near the price of a 36-foot catamaran today.

I have owned older boats in the past, a 1983 Hunter 31 for instance, and from 1985-2008 had no issues getting coverage for both liability and the market value of the boat. While I have no expertise to know about fraud, storms, and other issues that would increase the risk for an insurance company, I would think there is a large enough market potential to motivate them to create a more finite process for those who have maintained, and can prove they have maintained, their boats. —Eric Epstein, Annapolis, Maryland

I have a 1969 Allied Seabreeze yawl. I’m the second-generation owner, since 1997, and Dad owned her since 1972. For at least 30 years, she’s been insured by BoatU.S. Since they flipped their carrier to Geico, coverage has deteriorated with rates increasing and unilateral decreases (their decision) in agreed value. It reached a point where coverage is half the value, and rates twice what they used to be. I reported to them, per their request, replacement of the old Perkins 4-107 engine with 14,000 hours on it with a new Beta 30, which I felt yielded higher reliability and safer operation, decreasing their risk. They wanted to increase the premium by about 23% to $619, despite being unwilling to increase the agreed value to account for the increase in value from a new engine. Their argument was they were insuring more value, which is nonsensical since the agreed value ($21,400) is less than the cost of the engine including installation. They explained risks such as the boat being hit in the stern, causing engine damage (obviously not understanding the difference between an outboard and an inboard diesel) or a grounding causing more costly damage (obviously not understanding the risks to a heavy full-keel sailboat with a prop in the keel/rudder aperture).

In frustration, I told them that I would shop all my insurance I had with Geico, including auto, homeowner’s, and umbrella. They explained that if I left, they would not allow me to return, as they do not write new policies on vessels more than 30 years old. I also asked if I kept them, could I extend my navigation limits from U.S. coastal waters to include the Bahamas and Caribbean (which I am only considering as a future possibility) and was told no. I truly hoped they would make some effort to keep a long-term policy holder who had never had a claim, and whose qualifications include being holder of a USCG OUPV (six-pack) captain’s license.

After I shopped several other carriers and received a mixed response, State Farm has written coverage, without a survey, for $35,000 agreed value, for about $100 less than Geico, and more substantial savings on my other policies. Navigation areas are U.S. coastal waters within 100 nautical miles and a box of most of the Bahamas. —P. Toby Smith, S/V ALCOR, Milford, Connecticut

Alison O’Leary is an avid New England sailor, owner of Esmeralda, a 25-year-old Catalina 25, and author of nonfiction books. See alisonoleary.com.

 

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