My new boat is on the hard on the southern tip of Lake Michigan. I currently have Progressive who stated that they don't have a policy for boats on the hard. I have a personal vendetta against Geico. Any recommendations for a six month or so policy on a 94 C30?
Insurance for boats on the hard - Non-hurricane
- Thread starter Project_Mayhem
- Start date
Since you are mostly looking for liability insurance to meet the marina's need, you might try a rider to your homeowner's policy. Once you get ready to launch buy a yacht policy with agreed hull value.
Its mostly to protect the boat. The yard has the previous owner's insurance on file so they're not going to check. They stated that he paid and he is the point of contact. Unless the cradle suddenly collapses onto another boat or the disconnected battery starts on fire, I don't see it damaging anything. Mast is down as well. I haven't signed any paperwork. For all practical purposes they don't know that I exist.
While the previous owner has paid the storage fee, you probably want the marina to know you own the boat. If something did happen to the boat, it could get messy if the marina is unaware of the ownership change.
Since we're talking a low probability of anything happening to the boat, the home owner's rider may be the easiest short term solution.
Since we're talking a low probability of anything happening to the boat, the home owner's rider may be the easiest short term solution.
The PO reached out to them. They weren't interested. He has to schedule launch and any work. Home owners insurance isn't an option
I have Progressive and don't think there is any clause that doesn't provide insurance when on the hard in a boatyard or marina? Most of us that have a boat have to put it up on the hard and I have heard that some insurance companies require or strongly encourage that you pull the boat when a hurricane is approaching. I have never been told that my boat was not insured when on the hard. Is this because you are trying to get the boat initially insured and it is on the hard or that it is a project boat and will be on the hard for a very long time? I am sure that the situation of a boat being on the hard when it is purchased is not at all unusual. Don't let a personal aversion to Geico keep you from using them if they are the only option.
Point of clarification - you imply you want insurance written for only 6 months. Is that correct? And if so, why?
I have Waypoint/Navacord insurance and threre's not a word in the contract about being on the hard. All sorts of other limitations but nothing about being on the hard.
Are you particularly looking for a cheaper insurance for being only on the hard as opposed to the more expensive all perils insurance for being out on the water ?
There's very little market for it. Most yacht insurance is year round and includes on the water and off.
Bite the bullet for full insurance. You'll be glad you did when somebody makes off with your boat in the middle of the night. You'll soon forget the extra money you lost.
BTW, what is the $$$ difference.
BTW, what is the $$$ difference.
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 22,217
I have had the BoatUS/ Geico policy for 5 years. I have never had a claim. Your query was a good one. I suspect that there may be policy cost thoughts (e.g., does being on the hard lower premiums?). I wondered if my policy has any exclusions while on the hard.
According to the policy provisions, the standard marine policy covers liability while the boat is on the hard under contract with the yard. No lower price was offered. If you permanently remove parts of the boat (e.g., an engine), the insured is required to inform the insurance company.
According to the policy provisions, the standard marine policy covers liability while the boat is on the hard under contract with the yard. No lower price was offered. If you permanently remove parts of the boat (e.g., an engine), the insured is required to inform the insurance company.
Not sure you understand how underwriters determine risk which means premium cost.
Boats on Lake Michigan are presumed to be hauled in winter and underwriters assess premium amount based on out of the water storage risk. Stated differently, your premium already contains a discount for winter storage and consequently, you already benefit from decreased cost compared with other places which don’t suffer winter.
You already have what you seek.
Same as every other boat on the Lake. It seems to me that you are searching for a solution to a non-existent problem.
That's the same as my Progressive policy. Now, when I bought the boat it was in Rhode Island. It was being hauled to NJ 3 weeks later. Progressive wouldn't start the insurance until the boat was in NJ. They wouldn't offer a policy for the time period it was out of NJ. I would have needed to buy a full policy.
Just purchase a one year yacht policy for agreed value and be done with it. Never know what calamity could occur while in the yard…..fire, another boat topples over & damages your boat, the yard drops the boat when splashing, someone gets hurt while working on the boat, etc. if you can afford the boat; you have to have it fully insured. List your home port & mailing address only. There is no reason to mention that the boat is hauled out & on the hard.
This would be a problem if I had a loan
I have Progressive now. They weren't very flexible
what relevance does a loan have? Other than the typical requisite insurance any financial institution has,you can acquire annual insurance and simply cancel it in winter; a foolish act in my opinion and for the reasons I already explained, but it’s still a choice you already have. Nothing unique here.
Understandably so
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