Insurance for older plywood cruising trimarans

[thomwessels]

I've owned 3 Horstman TriStar trimarans over 33 years, single handed across the Pacific, enjoyed 45 years of flat sailing, Re-fitted my latest (39') to employ everything I thought important in a cruising tri. It's set up to be the perfect single handing cruising trimaran, IMHO.

My question is this: I'm insured only because the marinas in CA require that. I'm afraid that the new owner may have difficulty transferring that coverage so I'm trying to get ahead of a potential problem. The boat is 45 years old, in better shape than new ....but still 45 years old.

Does anyone know of any insurance companies not closed minded about these good old girls or about dreaded plywood? Agents hear 45 years old and they go into hysteresis!

Thanks,

Thom
39' Horstman TriStar
CROSSROADS

[Mischief_Inc]

I'm curious to hear the answers to this as well. Though sometimes marinas will have a list of insurance agents that they refer owner's to. Might be of some help. That, or as a 2nd choice, brokers.

[paxfish]

I suspect liability is available. i was able to get it pretty cheaply for my 28' cedar strip cat.

If you want full coverage, it will require surveys etc, and may not be available.

[thomwessels]

Thanks, Pax and Mis. The problam I'm seeing is threefold:
1) Age. Common carriers don't insure older vessels, no matter how perfect condition they are.
2) Composite boats (AKA 'dreaded plywood'). Plywood is a great building material but it must be maintained. We all know what happens if that doesn't occur.
3) Nowadays a survey is required. Many people just don't want the expense of a survey, or it is impossible to find a nearby place to haul.

[snort]

Getting liability will be no problem, but insuring the actual boat might be. Your mileage may vary, but that's been my experience.

[thomwessels]

Originally Posted by snort

Getting liability will be no problem, but insuring the actual boat might be. Your mileage may vary, but that's been my experience.

Snort, Not sure how they parse liability coverage vs boat coverage. Clarify, please?

[smj]

We insured our cold molded cat through Boat US, no survey was required which surprised us. Now insured through Geico who bought out Boat US.


Sent from my iPhone using Cruisers Sailing Forum

[mark_morwood]

Originally Posted by thomwessels

Snort, Not sure how they parse liability coverage vs boat coverage. Clarify, please?

At its simplest, liability coverage generally covers damages to another person or thing that you are liable for, normally the other boat or dock or whatever you broke, or are getting sued for. It does not cover damage to your own boat.

[thomwessels]

mark, I understand that. The problem I'm seeing is that no one wants to:
1) insure and older boat, no matter what the condition and
2) insure a plywood boat. (Oh the horrors of plywood!!)
The problem seems to be the insurance companies are getting way conservative and don't want to make any effort to vet the actual situation for each boat.

[snort]

What I've found is that they don't know how to assign value to it. It's not a known quantity to them, so they simply shrug their shoulders.
If I had more persistence, I'd keep on calling around and eventually hope on finding someone with more knowledge about a wider variety of boats and materials who could assess composite boats.

[thomwessels]

I agree, 'Snort'.
The problem is, I don't want to spend the rest of my life looking for that one reasonable, open minded insurance agent!

[paxfish]

Thom - Not sure if you are in the US or not. This guy was able to get me a full coverage quote, contingent upon survey and issue resolution.

It was pricey though, maybe $700 for a boat worth about $25000. I decided to go liability only and self insure the boat.

IMIS General Services

[thomwessels]

Thanx, Pax. I'm on the left coast in SoCal. I'll call this fellow.

Do you have the name of your particular agent? Under 'Yacht Insurance' they list Gary, Susan and Jordan.

Thom

[estarzinger]

you really want to talk to Al Golden at IMIS - he is the founder and brains of the outfit, and a decent guy to boot.

[Scout 30]

Originally Posted by paxfish

Thom - Not sure if you are in the US or not. This guy was able to get me a full coverage quote, contingent upon survey and issue resolution.

It was pricey though, maybe $700 for a boat worth about $25000. I decided to go liability only and self insure the boat.

IMIS General Services

I think that's actually a pretty good rate.