Oldest Boat to Buy

[dlochner]

Not to be stickler... but something isn't right with this. $100/$1000 would make the insurance $10k for the $100k boat... somewhere you are missing a 0.

$10k/$100k or $1k/$10,000 may be true for some insurance, but honestly I'm paying closer to $100/$5,000 for my agreed value policy (I think even better, but don't have the bill by me right now... maybe I'm in boat denial!)

Good catch. Some high risk areas, like hurricane prone states, might be higher, however my experience is AHV insurance runs between 1% and 2% of the hull value. My insurance is about 1.5%.

 

[FastOlson]

Not to be stickler... but something isn't right with this. $100/$1000 would make the insurance $10k for the $100k boat... somewhere you are missing a 0.

Oh My. I will have another look at that. Actually it's over $1400.annual premium for a boat value of 150K.
(Need to revisit that post!)
I was indeed missing a zero, and the "edit" function has expired......

 

[Tally Ho]

My old boat has an agreed value of $30,000. I pay $14.67 a month or $176 a year. My sailing season is only about 6 months, but I pay the insurance premium all 12 months.

Greg

 

[FastOlson]

My old boat has an agreed value of $30,000. I pay $14.67 a month or $176 a year. My sailing season is only about 6 months, but I pay the insurance premium all 12 months.

Greg

Your boat looks to be maintained to a standard well above average. Can you replace this exact boat for 30K ?

 

[Tally Ho]

Your boat looks to be maintained to a standard well above average. Can you replace this exact boat for 30K ?

Thanks @FastOlson .

Pretty close I think. I have maintained her and recently added new sails, but nothing “Cadillac” about her.

If I lost her, I would probably take the $$ and invest more in a bigger boat.

And of course the insurance includes the requisite liability insurance my marina requires.

But hoping to never need either.

Greg

 

[dlochner]

And of course the insurance includes the requisite liability insurance my marina requires.

But hoping to never need either.

Don't ya love spending money on things you hope to never use?

 

[kappykaplan]

Don't ya love spending money on things you hope to never use?

 

[FastOlson]

If I lost her, I would probably take the $$ and invest more in a bigger boat.

Invest -- that word we often keep using. It does not mean what we think it means.....

 

[twodzusfittings]

I worked it out. My boat and all the repairs, replacements, insurances and upgrades along with the last five years of slip fees is less than a Country Club Golf Membership, fees and equipment for the same period. And the best part is "I have a boat"!

 

[Urban Hermit]

Morgans have a reputation as a solidly built boat. If/when you make an offer on one, make a satisfactory survey and obtaining insurance as contingencies. It might be wise to begin shopping for insurance now, no one will give you a firm quote on a hypothetical boat, but they may indicate their willingness to consider insuring the kind of boat you are looking at.

A Best Response. I was a buyer's home inspector for years. Sales were most often conditioned on "a satisfactory home inspection," with "satisfactory" left to the opinion of the buyer. Deposits fully protected. (For those of you in the market, don't accept your Realtor's recommendation of a home inspector without due diligence. 98% of Realtors believe it is a home inspector's job to make the sale close. They'll recommend those who "play along.")