I'm just wondering if it is possible to get insurance on a boat over 20 years old. I have an 1984 O'day 26. It's in great shape. If I get it surveyed, will that sway the insurance companies? If it is possible to insure the boat, will I be charged a lot more? Thanks
Insuring an old boat
- Thread starter Mike8088
- Start date
- Status
Mine's 27 years old and insured
I used state farm since my home and auto are on it. It was no problem getting it insured. If it would have been 25 ft instead of 27 ft, my homeowners would have covered it :{ I want to up the insurance on it this year, all I need to do is send in a copy of the survey (and pay a few more bucks). I guess location can make things more diffucult... Manny
I used state farm since my home and auto are on it. It was no problem getting it insured. If it would have been 25 ft instead of 27 ft, my homeowners would have covered it :{ I want to up the insurance on it this year, all I need to do is send in a copy of the survey (and pay a few more bucks). I guess location can make things more diffucult... Manny
I got mine for $200/yr for liability only.
The boat isn't worth the cost of collision insurance. Its supposedly unsinkable. I don't know if it is a good price because I didn't have time to shop it. I feel better when I tow it and it is certainly worth the peace of mind. My agent is Jana Insurance they can tell you the insuror. Their number is (818) 246-0266.
The boat isn't worth the cost of collision insurance. Its supposedly unsinkable. I don't know if it is a good price because I didn't have time to shop it. I feel better when I tow it and it is certainly worth the peace of mind. My agent is Jana Insurance they can tell you the insuror. Their number is (818) 246-0266.
Insurance
I have a 22' 1971 Venture and have FULLY insured it with Allstate Insurance including hull, outboard, trailer, $300,000 LIABILITY AND $5,000 medical for $170 a year. When I had my new 15' Potter it was even less. No survey was required for either. Novelman
I have a 22' 1971 Venture and have FULLY insured it with Allstate Insurance including hull, outboard, trailer, $300,000 LIABILITY AND $5,000 medical for $170 a year. When I had my new 15' Potter it was even less. No survey was required for either. Novelman
Amica
Had a 1976 with full insurance and now a 1985 with a yacht policy. Includes unlimited towing by carrier of my choice. I have benn a boatUS member for 4 or 5 years now and they said they would not write a new policy for a boat older than 20 years. My boat was 21 when I purchased her and they said no exceptions. Tim R.
Had a 1976 with full insurance and now a 1985 with a yacht policy. Includes unlimited towing by carrier of my choice. I have benn a boatUS member for 4 or 5 years now and they said they would not write a new policy for a boat older than 20 years. My boat was 21 when I purchased her and they said no exceptions. Tim R.
We had our Oday 25 insured with State Farm
and it was a 1979, but our 1983 Oday 34 is insured through Boat US. I did have to get a survey for the 34, and even though there were a few issues Boat US had no problem insuring it. I bought the boat knowing it needed some things, and they originally issued the policy as Port Risk Only (meaning I couldn't put the boat in the water!) but gave me full coverage after I took care of the critical survey items.
and it was a 1979, but our 1983 Oday 34 is insured through Boat US. I did have to get a survey for the 34, and even though there were a few issues Boat US had no problem insuring it. I bought the boat knowing it needed some things, and they originally issued the policy as Port Risk Only (meaning I couldn't put the boat in the water!) but gave me full coverage after I took care of the critical survey items.
1980 O'day 23
Insured with Progressive, less than $200 a year. Meets the requirements for the marina and includes the trailer. $6000 coverage for the boat and trailer.
Insured with Progressive, less than $200 a year. Meets the requirements for the marina and includes the trailer. $6000 coverage for the boat and trailer.
ACE
http://www.campisanomarine.com/ I used this agent (in NJ) for my 1979 C30 after I couldn't get any insurance anywhere. They use ACE. He may not be able to help you out as far as insuring you if you're not in NJ, but they probably can steer you in the right direction. My major problems were the age of the boat and the fact that my marina made me name "Trump Marina Assoc.", "Donald Trump" and the "State of NJ EPA" as additional insureds. Jack Manning s/v Victim of Fate Atlantic City, NJ
http://www.campisanomarine.com/ I used this agent (in NJ) for my 1979 C30 after I couldn't get any insurance anywhere. They use ACE. He may not be able to help you out as far as insuring you if you're not in NJ, but they probably can steer you in the right direction. My major problems were the age of the boat and the fact that my marina made me name "Trump Marina Assoc.", "Donald Trump" and the "State of NJ EPA" as additional insureds. Jack Manning s/v Victim of Fate Atlantic City, NJ
They are wonder why you would do that with such a low book value! You have liability with your home owners.
OLder boat Insurance
Mine is a 1981 and Boat US insures it with full coverage. It is costly down here in florida.
Mine is a 1981 and Boat US insures it with full coverage. It is costly down here in florida.
The Katrina Trickle...
The disaters and subsequent insurance pay outs have had an effect on carriers all the way to the west coast. "Getting" coverage is ONE thing, having coverage is another.Example, Allstate uses 'Davis surveyors', they are 'friendly' to Allstate, many claims are turned down as a result. What are you paying for? Progressive, Haggerty, Twin Rivers, A.B.Stevenson (510-895-5915) are all pretty good Marine insurance carriers. Most have different markets for their underwriters and so different rules, but many independants use the exact same markets (underwriters) as the big boys do, and will insure older yachts (with recent survey) for full as well as the mandatory (not by law, but 'marina' rule now) 300K liability to lease a marina berth.
The disaters and subsequent insurance pay outs have had an effect on carriers all the way to the west coast. "Getting" coverage is ONE thing, having coverage is another.Example, Allstate uses 'Davis surveyors', they are 'friendly' to Allstate, many claims are turned down as a result. What are you paying for? Progressive, Haggerty, Twin Rivers, A.B.Stevenson (510-895-5915) are all pretty good Marine insurance carriers. Most have different markets for their underwriters and so different rules, but many independants use the exact same markets (underwriters) as the big boys do, and will insure older yachts (with recent survey) for full as well as the mandatory (not by law, but 'marina' rule now) 300K liability to lease a marina berth.
30 years old and fully insured
I have American Modern Insurance and am insured for apraised hull value, 500k liability, dingy, and motor on my 1974 Pearson. I changed insurers two years ago when West Marine changed to St Paul insurance and the rates doubled.
I have American Modern Insurance and am insured for apraised hull value, 500k liability, dingy, and motor on my 1974 Pearson. I changed insurers two years ago when West Marine changed to St Paul insurance and the rates doubled.
boat u.s.
A very recent, out of the water survey is certainly the only way to get insurance on an older boat. Boat U.S. and Allstate have been kind to me in the past. If you have your home insurance and car insurance with the same carrier, I would check there first.
A very recent, out of the water survey is certainly the only way to get insurance on an older boat. Boat U.S. and Allstate have been kind to me in the past. If you have your home insurance and car insurance with the same carrier, I would check there first.
Thank you
Thanks for all of the responses. I have written down a list of the companies you have listed, and I plan on making many phone calls. Unfortunately, most of the "quick quotes" offered on their Web sites don't allow me to advance once I enter the boat's age. Hopefully, I can get it surveyed while it's on land. We have liability through our homeowner's, but we're mainly concerned about storm damage. We might also start chartering, so we would need riders for that as well. Thanks again for the info.
Thanks for all of the responses. I have written down a list of the companies you have listed, and I plan on making many phone calls. Unfortunately, most of the "quick quotes" offered on their Web sites don't allow me to advance once I enter the boat's age. Hopefully, I can get it surveyed while it's on land. We have liability through our homeowner's, but we're mainly concerned about storm damage. We might also start chartering, so we would need riders for that as well. Thanks again for the info.
Mike !!!!
we recently purchased a 30 year old boat after having lost our other boat in Hurricane Katrina. Insuring an older boat on the Gulf of Mexico has become a nightmare, but it was finally accomplished. We purchased the boat in Florida and sailed it to Texas. We found an agent in Florida who wrote up the ploicy for an underwriter in England for an Insurance Co located in the Ukraine. It was the only company that would insure the hull without 'named storm exclusions'. Hopefully, if we ever file another claim, they wont shut down the Ukraine to avoid payment. Anyway, I would think that up in R.I., you wont have a fraction of the problems that we did and wont have to pay but a fraction of the cost. Anyway, the agent in Florida is...Michael Mercurio 954-427-1228. Im sure he can write you up. He wrote us up for the boat located in Florida, to be moved to Texas and registered in Mississippi. Also, for a boat that age, you will definately require a survey, not sure if 'in and out of water' will both be required, need to talk to agent first, anyone other than THE agent is only guessing. Tony B
we recently purchased a 30 year old boat after having lost our other boat in Hurricane Katrina. Insuring an older boat on the Gulf of Mexico has become a nightmare, but it was finally accomplished. We purchased the boat in Florida and sailed it to Texas. We found an agent in Florida who wrote up the ploicy for an underwriter in England for an Insurance Co located in the Ukraine. It was the only company that would insure the hull without 'named storm exclusions'. Hopefully, if we ever file another claim, they wont shut down the Ukraine to avoid payment. Anyway, I would think that up in R.I., you wont have a fraction of the problems that we did and wont have to pay but a fraction of the cost. Anyway, the agent in Florida is...Michael Mercurio 954-427-1228. Im sure he can write you up. He wrote us up for the boat located in Florida, to be moved to Texas and registered in Mississippi. Also, for a boat that age, you will definately require a survey, not sure if 'in and out of water' will both be required, need to talk to agent first, anyone other than THE agent is only guessing. Tony B
1985 ofday anniversary 26 ftr
Mike I have the same boat as you and have had insurance for 3 years now at 199.00 a year. I have made 1 claim and they paid approximately 405 of my loss. I believe it is written with State Farm. Good luck !
Mike I have the same boat as you and have had insurance for 3 years now at 199.00 a year. I have made 1 claim and they paid approximately 405 of my loss. I believe it is written with State Farm. Good luck !
My auto insurance covered my boat
I had insurance with the same auto insurance since I started driving.18 years now.Erie Insurance insured my 1981 hunter30 with full coverage including fuel spills for only $130. a year. I checked BOAT US they wanted $450 ,the coverage is alittle better then what I have,but I don`t think its all $$$ that much better . Shop around before you buy,good luck. Chet
I had insurance with the same auto insurance since I started driving.18 years now.Erie Insurance insured my 1981 hunter30 with full coverage including fuel spills for only $130. a year. I checked BOAT US they wanted $450 ,the coverage is alittle better then what I have,but I don`t think its all $$$ that much better . Shop around before you buy,good luck. Chet
- Status