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Old 19-02-2010, 07:29   #1
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Insurance for First-Time Boater

Does anyone know of an insurance company that insures first time boat buyers who plan to liveaboard? I spoke with an agency today that says it will be virtually impossible to get a boat insured for a liveaboard with very little boating experience. Help please! There has to be someone who will do this.

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Old 19-02-2010, 08:04   #2
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You might contact BoatUS. I'm not sure that being a live-aboard constitutes more of a risk than otherwise.


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Old 19-02-2010, 09:14   #3
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We have lived aboard and cruised our boat for about two decades and I can't remember an insurance company ever asking us if we were liveaboards. We don't usually go in and ask for liveaboard insurance either, just insurance on the boat and of course we have to provide navigational areas where we will be using it. We have always had the boat insured. You might give IMIS in Maryland a call, they are very helpful. Also get as many boating courses under your belt as possible, local, US Power Squadron, Coast Guard Auxiliary, etc. and all of a sudden with all of that on your resume you don't look as inexperienced any more. WG
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Old 19-02-2010, 10:34   #4
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This thread, and several others about insurance, have prompted me to actually dig in and read my entire policy. I got it from State Farm, since they have also handled my homeowner's and car insurance for many years. The rate is very affordable (about $500 a year), and all they ever asked me for is a survey and proof of completion of a safety course. There are no exclusions for single-handing, living aboard, or sailing and docking the boat anywhere in the U.S., including hurricane alley in Florida. Even the prohibition against racing only applies to powerboats, not sailboats.

So, I guess my question is, am I missing something, or am I lucky enough to have fallen into a conveniently available good deal?
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Old 20-02-2010, 04:31   #5
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My policy does not allow liveaboard.

But back to the orginal question; I can not help you with names but am sure there is someone who will do the insurance. But of course the rate might be high. I only had 1 year sailing experience when I got my boat last year. Boat US was a lot more than what I got with Markel (that I got via IMS). The insurance company required me to get some extra time with a captain (I needed help relocating it anyway), but then reduced my rate afterwards.

Check with Tabbycat on this forum.
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Old 20-02-2010, 06:23   #6
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State Farm would not insure me. To be more exact, State Farm did write a policy but the underwriting company would not take the policy because I live on a barrier island in Florida and the boat is withi 1/2 mile of the ocean. LiveAboard magazine has an ad for a Liveaboard Yacht Policy. The company is out of NY. (1-800-553-7661) Be careful of your insurance and what it covers. Some policies just cover your personal stuff. Your boat and your boat systems are not covered. BoatUS covers my boat at $2,500 a year. No I am not a liveaboard, not yet.
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Old 20-02-2010, 06:41   #7
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My first boat insurance was through Charter Lakes Marine Insurance tel: 910-256-4148 they arranged a yacht policy from Markel American Insurance and I am covered for Atlantic Coastwise and Inland Waterway Cruising between Eastport, ME and Savannah, GA for $620 per annum. I did try BoatUS for coverage, their quote was 50% more expensive.
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Old 22-02-2010, 18:28   #8
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Most marine insurance companies hope to write policies for owners with 3 years experience, with a mooring in the Northeast or Great Lakes, and recent vintage boats. However, a few companies do specialize in old boats, inexperienced owners, or boats located in tropical storm areas. Hopefully you don't have all three working against you!
So you're probably insurable, but since your options are limited, your policy will cost more than that of an owner with experience.

Send me an e-mail and I'll see what I can do.

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IMIS - Int'l Marine Ins Svcs
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Old 25-02-2010, 14:58   #9
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you could try these guys, just did an on line class with them over at seven seas u

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