U20 Insurance question

[John Andrew2]

Has anybody checked their policy recently to see if it covers spar replacement in the case of a wind only failure? I've recently begun checking into this and both Progressive and Geico say they will only cover a spar failure if it's part of an "occurrence" (aka collision) they both say they won't cover a spar that just fails while sailing. Has anybody got any recommendations on this? this is the first I've heard of this approach from an insurance company. My agent, who insures lots of racing boats said this is the way the insurance companies get around paying for a broken spar. And what's the cost of a new carbon spar these days? Just curious... Thanks

[U20 Site Moderator]

Hi John, I use Allstate.  There is an interesting thread on the Moore24 Discord server about insurance.  Some important things to review:

• Coverage for the true replacement value vs property tax value of the boat
• Making sure, mast and sails have coverage
• Variation on bodies of water.  Not a problem for many as we are based on lakes but something to consider if you're on the coast

[Claudio Brasca]

I checked with our current insurer (State Farm) and they don't necessarily address whether wind damage or damage to standing / running rigging and sails is covered (the policy is mute on the point). I think that means there is a good argument for it to be covered since it is an integral part of a sailing boat.

However please note that State Farm excludes weather conditions and mechanical failure as a cause for which they will cover a loss to a vessel. The way I read it: if your mast fails because of a collision, that it is covered. But if it fails because of a sudden gust while sailing in open water, I think you are on your own.

Coverage is for the cost of repair or replacement whichever is cheaper, up to the limit of the policy.

For our U20, we have $25K limit for the boat and $8K for the trailer (plus $300K in liability to tie to our umbrella policy). We pay just under $190 a year in premium.