Insurance

[Greg67]

Finally Bought a boat after all the years dreaming of it but I can't seem to find anyone to give me an insurance quote for a 1976 Cascade 29. Too old they say. Actually did get a quote for 1,109 / yr. that seems ridiculous! She sits on a trailer over half the year!

Any advice would be great... Thanks in advance...

[MicHughV]

How much did you pay for the boat ??

[Greg67]

Paid 10K but I have new sails on the way for 14K

[Montanan]

It is an old boat and old boats become difficult to have insured.

Are you pursuing insurance for hull coverage? If so what value and deductible?

Are you pursuing liability only coverage for the vessel, if so what types of coverage, limits and deductibles are being quoted?

You likely should pursue separate liability insurance coverage for the trailer as well.

Boat liability insurance, which also may be called watercraft liability coverage, typically contains two types of coverage:

Watercraft bodily injury liability coverage:

May help prevent you from paying out of pocket for medical bills and other related costs — like loss of income — when someone is injured in an accident you caused with your boat or personal watercraft.

Watercraft property damage liability coverage:

May help cover the costs of repairing or replacing another person's boat or property when you damage it in an accident with your boat. This type of coverage typically kicks in after a collision, but it may also help in other scenarios. For instance, if you have an accidental fuel spill that damages someone's property, watercraft liability insurance may help cover clean-up costs. Liability insurance may also help pay for wreckage removal if a covered boat accident requires raising, removing or towing your watercraft from the water.

It's important to note that boat liability insurance does not cover your medical bills or your boat repairs after an accident. You may want to look into medical payments coverage or boat property coverage for help with your own expenses after a boating accident.

Your homeowner's insurance policy may provide limited coverage to your boat.

[Greg67]

This is all too much to deal with! Anyone want to buy a boat? It's not even in the water and in pristine 1 owner condition and barn kept!!!! 12 mile Furuno Radar, Autopilot and monitor windvane for off shore as well as Avon w/ 4 hp evinrude, New immersion suits. Depth/ VHF, Raritan Head, New Force 10 three burner and new referigeration. Ultra dependable and recently overhauled Farymann Deisel with hand or electric start. Cleaned and treated fuel tank, Force 10 Diesel heater, Muir Windlass with a 45 cqr and 200 feeet 3/8 chain. 16000 lb rated trailer with title, boat wieghs 8,500 lbs. I already paid for new sails from Port townsend but they have not been made yet. boat comes with profurl never installed. What genoa do you want? Hank on or furler?

[MicHughV]

Tough call....insurance premiums on boats are high across the board, usually coupled with a big deductible...many insurance companies balk at boats older than 10 years, or give you restriction of when and where you can sail, etc...your boat is pushing 50 years....and you say you will only use it half the year ??

[Greg67]

Yep, just six months a year! I was hoping to keep her at the marina on shore power all the time but alas I can see that's not going to work out

[MicHughV]

Yep, back in the day, sailing was a lot of fun, but these days most every marina wants you to carry some or other liability insurance, etc.

I never carried insurance at all on my first boat, but I was a liveaboard, so was always there.

You might consider contacted your home owner insurance company, as they might be able to provide a bundle insurance policy, ie, your home, vehicles, boat, all wrapped up in one, especially so, as the boat will stay on land for a period of time.

If you don't use your boat all the time, it quickly becomes an expensive hobby.

[wholybee]

Have you checked with whoever you insure your car with? Being a trailerable boat opens up some of those options that otherwise won't insure a "big" boat. Say it is stored at your house, under a cover, etc.

Progressive will insure boats over 40 years old.

[Montanan]

Originally Posted by MicHughV

Yep, back in the day, sailing was a lot of fun, but these days most every marina wants you to carry some or other liability insurance, etc.

I never carried insurance at all on my first boat, but I was a liveaboard, so was always there.

You might consider contacted your home owner insurance company, as they might be able to provide a bundle insurance policy, ie, your home, vehicles, boat, all wrapped up in one, especially so, as the boat will stay on land for a period of time.

If you don't use your boat all the time, it quickly becomes an expensive hobby.

Indeed, considering the cost per hour of utilization, it becomes very expensive, similar to say owning an RV or a vacation home.

Doing a quick calculation for my last summer's usage, I am looking at $400+ per hour.

My friend's vacation home on the lake was working out to cost about $3,000 per night, several times more than it would have cost to rent from someone else, e.g., an AirBNB

The cost of an RV is ridiculously expensive way to go "camping" or "sightseeing". I prefer tent camping in the wilderness over staying at a Walmart parking lot.

The cost of a ski boat, in a word, OUCH

Boating is a luxury.

[alctel]

1100 sounds on for full coverage nowadays.

As others said though, you may be able to get it under your house or car insurance instead