Insurance - Am I paying too much?

Never tell the agent it's a live aboard.
You just happened to be near or staying on board if anything happens.

$60K agreed value for $1,800 per year, 1979 sailboat.
Now increased to $2,300 because of hurricane Sandy. Boat US.

You need to contact "Boat US", their premiums are a good value and I can attest to there great response. As a result of a severe storm (70 plus mph wind) in my area just before Christmas, my Carver 3607 broke loose from it's moorings and was set down hard on rocks, doing extensive hull damage. Boat US had a recovery team on site the next morning and my boat is currently being repaired with no grief. As a note, due to my location the closest recovery and salvage team was over 200 mile away.

Chubb and BoatUS Were My Best Choices

Chubb is charging me just over $3,000 annually for $225,000 of coverage. BoatUS was almost as good, and very responsive. Have used Chubb forever for my boats, homes, valuable items, etc. and they're as professional as they come.

Be careful, you get what you pay for. If you are a live a board and say otherwise you give the insurance company the perfect out? Like telling your life insurance company your' re a non smoker when your fingers are yellow. Just saying

Also keep in mind, The deductible level makes a big difference.

BEAU is correct.
Insurance is a poker game. The house and player play at different odds. Above and under the table. Of course don't lie or miss represent yourself directly, But like poker, You don't show (tell) everything unless directly raised (interrogated) questions are properly (anti) requested.
Loose lips sink ships AND banking accounts.

I reserve this space to state this is only an opinion. I do not endorse misrepresentation unless you can get away with it.
,rc

Very good point. Many opt for a % deductible and get a good rate for it. 10% doesn't sound like much until you have to come up with $100,000+ to pay off your note and have limited time to get it together.

as a generalization, the insurance premium in the OP sounds high.

But many things are considered in determining marine insurance premiums:

Including, but not limited to:

1. survey (make, power, condition)
2. history of loss (boat and owner)
3. owner/operator experience and history
4. location (boats with home ports in hurricane prone areas will pay more)
5. deductible
6. type of use (personal, commercial, charter)
7. months in use (12 months in water, vs winter navigation or winter storage on land)

Policies could indeed vary much in individual cases, so just go out and get different quotes.

People are very different in how they work with their insurer (agent): some are in it just for compliance (getting high on-paper coverage for low cost but being practically unable to collect because of too many "outs"), some are extra-open (those tend to get the "worst deals" but also typically have the least problems if stuff happens), most navigate their ways inbetween. Therefore it's understandable how different owners could have very different terms on the same ship in same marine and same use profile

Contact Pantaenius. All our boats are insured with them. They usually charge us a premium of 0.7% to 1% from the total value depending on the vessel.

Yacht Insurance online - Best American Yacht Insurance Company

agreed. I think we are paying 1% of total with Chubb as well. They are very good. Packaged in with that is a rebate when we have to move the boat for Hurricane type storms. They will cover transit and hauling.