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