A boat insurance agent told me that most home owner policies cover boats up to but including 26' (State of Massachusetts). Has anyone heard of this? Any input appreciated. Thanks, M.C.
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Tim Paul
Don't Rely On It
You are correct that many (most?) homeowners policies have some coverage for boats up to 26'. I think the H26 would qualify since its actual LOA is something like 25'11". I'm not an insurance expert but I believe the coverage is limited to 1) liability (i.e. damages incurred when you harm someone else) and 2) physical damage to your own boat while stored at or near your home. If your boat is damaged while in use on the water or while docked, you don't have coverage. Several years ago I had an older boat that I paid very little for and felt the homeowners coverage alone was adequate. Got seriously damaged while at dock in a storm and I found it wasn't covered. Ended up selling her off for parts (actually more than recovered my investment). Bottom line: It's good to know about the homeowners coverage and you should check with an agent. BUT, for a boat worth anything, I wouldn't rely on this coverage solely. I now have a Boat US policy on my H26.
You are correct that many (most?) homeowners policies have some coverage for boats up to 26'. I think the H26 would qualify since its actual LOA is something like 25'11". I'm not an insurance expert but I believe the coverage is limited to 1) liability (i.e. damages incurred when you harm someone else) and 2) physical damage to your own boat while stored at or near your home. If your boat is damaged while in use on the water or while docked, you don't have coverage. Several years ago I had an older boat that I paid very little for and felt the homeowners coverage alone was adequate. Got seriously damaged while at dock in a storm and I found it wasn't covered. Ended up selling her off for parts (actually more than recovered my investment). Bottom line: It's good to know about the homeowners coverage and you should check with an agent. BUT, for a boat worth anything, I wouldn't rely on this coverage solely. I now have a Boat US policy on my H26.
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Randy
in MI
In Michigan your home owners will cover it but it cost a $150- $250 more. Also it doesn't cover any damage while trailering.
In Michigan your home owners will cover it but it cost a $150- $250 more. Also it doesn't cover any damage while trailering.
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Miles
Good Advise
The reply from Tim Paul seems like "Good Advise" I was an Insurance Agent for 38 years, (but have been retired for the last 14 years and what he says was correct in Maryland. I'd advise "Read your specific Policy" or contact your agent or company, for specific information
The reply from Tim Paul seems like "Good Advise" I was an Insurance Agent for 38 years, (but have been retired for the last 14 years and what he says was correct in Maryland. I'd advise "Read your specific Policy" or contact your agent or company, for specific information
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john
Did Boat US force you to get a survery?
Every time I ask for a quote on my '79 hunter 27', they want a survery for big bucks by one of their own surveyors.
Every time I ask for a quote on my '79 hunter 27', they want a survery for big bucks by one of their own surveyors.
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Tim Paul
Most of these policies are replacement cost
We have discussed this in the past. Most of the policies that are available from home owners policies and/or automobile insurers are only going to give you replacement cost (who knows what that really means, please speak up). We just got our new policy from Boat US for an agreed upon value of $35,000. Our policy is $270/yr. This allows us to venture 30 miles out to sea without any special riders. Our boat was insured with Allstate before we switched (they don't cover much). Our boat is a 1985 model. We switched over to BoatUS about 3 years ago and they DID NOT require a survey.
We have discussed this in the past. Most of the policies that are available from home owners policies and/or automobile insurers are only going to give you replacement cost (who knows what that really means, please speak up). We just got our new policy from Boat US for an agreed upon value of $35,000. Our policy is $270/yr. This allows us to venture 30 miles out to sea without any special riders. Our boat was insured with Allstate before we switched (they don't cover much). Our boat is a 1985 model. We switched over to BoatUS about 3 years ago and they DID NOT require a survey.
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Alan Johnson
in NY
I have my 1985 H37c insured with my Homeowner, Auto policy with Encompass. When I first insured it, the company (Formally Utica), did not require a survey, and unfortunately, I have had two claims in the last 6 years, which have been adjusted without a problem. I have a stated value to the hull and a very reasonable deductibe at a very reasonable premium
I have my 1985 H37c insured with my Homeowner, Auto policy with Encompass. When I first insured it, the company (Formally Utica), did not require a survey, and unfortunately, I have had two claims in the last 6 years, which have been adjusted without a problem. I have a stated value to the hull and a very reasonable deductibe at a very reasonable premium
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