Boat Insurance

[GeneraiT001]

I insure my 1988 O’Day 322 for an agreed upon value of $30k plus $300k liability insurance (required by my marina).

State Farm, who also insures my home and autos, added it to my policy. They did want some sort of survey when I bought the boat (I convinced them to use a 1-year old survey the seller gave me). They haven’t asked for a new survey in the 11 years I have owned her.

Your boat may not be worth insuring…you will still need liability insurance, but maybe not hull coverage. I guess it depends on what it is worth, and what you would do if she wank or was damaged. How old is it and what did you oay for it? It can be tough to get insurance on an older boat…


Greg

Hi Greg,

Its 1989 and I paid $36,000CDN

 

[FastOlson]

For years, "wreck removal and pollution abatement" has been a written requirement for insurance certificates on boats in marinas in our region. Whether liability-only or a full coverage policy makes no difference. That said, there are a number of small-boat owners in my marina that do have their boat attached to their homeowner policy with a blanket liability attached.

(I sometimes idly wonder if those policy holders (and their insurance agents) actually understand that these are traditional types of policies originally structured around customers with trailered boats parked in a driveway? )

 

[Tally Ho]

Hi Greg,

Its 1989 and I paid $36,000CDN

Then certainly worth insuring, and hopefully new enough to get coverage

Greg

 

[tewilso]

Try Progressive. Can get a quote in a minute, online, as well as purchase. You may be able to purchase through your homeowner’s insurer; however, many insure smaller boats only.

Progressive uses compass marine services: 888-955-0025 for towing and they have an smartphone app called Sign&Glide for 24x7 towing (believe in FL out to 15 nm from closest base)

 

[Hello Below]

No Progressive Insurance in Canada. No State Farm, no BoatUS, no Geico, no USAA. . . In fact not one of the marine insurance companies located in the US will cover a Canadian vessel located in Canada. A simple google of "Recreational vessel insurance in Ontario" will provide a handful or more companies that will insure your Canadian boat. Give each and every one of them a call and choose the one that meets your needs.
Having said all that, I assume by now that you must have obtained marine insurance for your boat or the marina has removed you from their boat yard. How about an update on how you made out or are making out or if you need further assistance. It will allow those in the future a path to acquiring insurance in Ontario, Canada.

 

[jssailem]

After 10 years of no claims and paid premiums, I was notified that a survey is required before I can renew my coverage in April 2026.
Oh boy this sounds like more fun to start the new year.

 

[Justin_NSA]

After 10 years of no claims and paid premiums, I was notified that a survey is required before I can renew my coverage in April 2026.
Oh boy this sounds like more fun to start the new year.

That happened to me towards the end of last year. 20 years with no claims with BoatUS and they insisted on a survey before I could renew. I dropped them and went with USAA/Progressive. I ranted on an earlier post

 

[BigEasy]

After 10 years of no claims and paid premiums, I was notified that a survey is required before I can renew my coverage in April 2026.
Oh boy this sounds like more fun to start the new year.

Same here. Same insurance company for ten years; no claims. The boat was 15 years old and they demanded a survey to renew the policy. I complied & there went $600 down the drain for a survey (without haul out). This past summer, same company notified me of a slight increase in premium; however, the boat could not be in Florida waters from May thru October! Ridiculous, because my home port marina is approximately same latitude as the Florida Panhandle!! That was the last straw; I now have an agreed value policy with Progressive Insurance at a reasonable cost.