Cruisers Forum
 


Reply
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 28-10-2020, 12:42   #1
Registered User

Join Date: Oct 2020
Location: Sparrows Point Maryland USA
Boat: 1968 Columbia 36
Posts: 68
Old boat liability Insurance?

First post, will post in intro sometime soon. But first my most pressing question.


Just bought a 1968 Columbia 36. Plan was to use my existing insurance agent who keeps sending me things telling me they cover boat too... Called them and they decided boat is too old....
Boat will be keep in Chesapeake bay area.


Next up Gieco/BoatUs. also rejected for age...

UGH...

Suggestions? Don't need to insure the hull itself as it wasn't 'that' expensive, but bit of a wrinkle that first two places I talked to simply flat out refused me.

Brian
Fishzine is offline   Reply With Quote
Old 28-10-2020, 13:06   #2
running down a dream
 
gonesail's Avatar

Join Date: Mar 2006
Location: Florida
Boat: cape dory 30 MKII
Posts: 3,112
Images: 7
Send a message via Yahoo to gonesail
Re: Old boat liability Insurance?

wow .. Boat US rejected for age? good to know. what I did was check for insurance and dockage before purchase but that's no help for you.
__________________
some of the best times of my life were spent on a boat. it just took a long time to realize it.
gonesail is offline   Reply With Quote
Old 28-10-2020, 13:12   #3
Registered User

Join Date: Oct 2020
Location: Sparrows Point Maryland USA
Boat: 1968 Columbia 36
Posts: 68
Re: Old boat liability Insurance?

Quote:
Originally Posted by gonesail View Post
wow .. Boat US rejected for age? good to know. what I did was check for insurance and dockage before purchase but that's no help for you.

Great in theory, and for next boat will be that. But to be honest, this was an Ebay Boat Angel buy. Have inspected and accepted boat. Certainly worth more then I paid.

Full boat details will be in my intro post when I get around to in hopefully the next week. Right now time is focused on getting the boat ready to move.

Just hoping someone has a name to suggest so I don't waste time finding that one company who wants my money

Brian
Fishzine is offline   Reply With Quote
Old 28-10-2020, 13:20   #4
Registered User

Join Date: Apr 2017
Location: NYC
Boat: Adams 45
Posts: 237
Re: Old boat liability Insurance?

You can try asking for liability-only insurance. Progressive offers it, but unsure about an age limit. When I had difficulty finding insurance, Allstate covered my boat. Rules vary from state to state, so contact an agent in the state where boat will mostly reside.
pjShap is offline   Reply With Quote
Old 28-10-2020, 13:29   #5
Registered User
 
ForeverDes's Avatar

Join Date: Aug 2012
Location: Indiana
Boat: New Horizons 25'
Posts: 189
Re: Old boat liability Insurance?

I bought a 1959 New Horizons this summer and just added it to my Progressive auto policy. Liability only, but it was easy and no hassle, no inspection, to get insurance. Might change if I plan to leave the country, but I verified I was ok for the Great (American) Loop with them.
ForeverDes is offline   Reply With Quote
Old 28-10-2020, 13:58   #6
Registered User

Join Date: Oct 2020
Location: Sparrows Point Maryland USA
Boat: 1968 Columbia 36
Posts: 68
Re: Old boat liability Insurance?

Progressive, gave me a quote and a very reasonable one at that. Under $250 a year depending on exact limits. Awesome, thanks everyone for the tips. Looking to visit some marinas tomorrow and once I pick one will buy (They want to know where boat will be located).

Right now it is Annapolis and need to get it further North up the bay to get closer to home. But at least they seem willing to write the policy.
Fishzine is offline   Reply With Quote
Old 28-10-2020, 14:05   #7
Registered User
 
Dsanduril's Avatar

Join Date: Aug 2011
Location: Petersburg, AK
Boat: Outremer 50S
Posts: 4,229
Re: Old boat liability Insurance?

On the flip side, when you visit marinas ask them about their insurance requirements. Some may want $500k liability, others may want a million. Some may require wreck removal and/or environmental cleanup. Progressive can probably satisfy all of them, but you may need to tailor your policy to match your marina.
Dsanduril is offline   Reply With Quote
Old 28-10-2020, 14:19   #8
Registered User
 
PatMc57's Avatar

Join Date: Dec 2015
Location: Pennsylvania, USA
Posts: 46
Re: Old boat liability Insurance?

I have a 1975 Dufour on the Chesapeake. It's Liability insured with Progressive. $300K.
Was $247 first year..2019. Just went down a little.
PatMc57 is offline   Reply With Quote
Old 28-10-2020, 14:42   #9
Registered User
 
PatMc57's Avatar

Join Date: Dec 2015
Location: Pennsylvania, USA
Posts: 46
Re: Old boat liability Insurance?

I live North of the Bay...Pennsylvania. I considered keeping my boat in the very North of the Bay to have less of a drive. I ended up deciding on a more Middle location, Castle Harbor on Northern Kent Island. They are reasonable, and surprisingly, no more expensive than the Northerly Marinas. The benefit that I found is that it only takes me 15-20 minutes longer to drive there and offers a much wider variety of sailing without having to sail an extra day to get "somewhere". Castle Harbor also required a $300K Liability policy.
PatMc57 is offline   Reply With Quote
Old 28-10-2020, 15:04   #10
Registered User

Join Date: Oct 2020
Location: Sparrows Point Maryland USA
Boat: 1968 Columbia 36
Posts: 68
Re: Old boat liability Insurance?

Quote:
Originally Posted by PatMc57 View Post
I live North of the Bay...Pennsylvania. I considered keeping my boat in the very North of the Bay to have less of a drive. I ended up deciding on a more Middle location, Castle Harbor on Northern Kent Island. They are reasonable, and surprisingly, no more expensive than the Northerly Marinas. The benefit that I found is that it only takes me 15-20 minutes longer to drive there and offers a much wider variety of sailing without having to sail an extra day to get "somewhere". Castle Harbor also required a $300K Liability policy.
I am actually in PA too, Lancaster County. I agree completely that I don't want to be all the way North (aka Havre De Grace area). Double the sailing are for weekends since you can go either north or south on the bay. Tomorrow I am going to look around the Sparrows Point area. Trying to keep it to under a 90 minute drive.

Kent Island is my next location if I don't love any of the ones in and around Sparrows point. Will keep Castle Harbor on my list, but annoying when websites don't give prices........
Fishzine is offline   Reply With Quote
Old 28-10-2020, 17:46   #11
Registered User

Join Date: Nov 2018
Location: Panama
Boat: Norseman 447
Posts: 1,626
Re: Old boat liability Insurance?

The "old boat" is often the problem. Old boats, particularly small ones, are often not well maintained. Why? Because their not worth much.

But imagine a scenario. Old 40’ sports fishing boat catches fire. Known maintenance problems. No insurance. Drifts through the anchorage area. Catches 2 other boats on fire. One a 30+’ foot sailboat in good shape. Uninsured. The other an insured 40+’ sports fisherman worth maybe $300k. Then catches the dock on fire. Ultimate cleanup costs about $200k, not counting the boats.

That’s why they don’t like old, small boats. They can cause as much damage as a big, new boat.
Bycrick is offline   Reply With Quote
Old 28-10-2020, 18:50   #12
Registered User

Join Date: Oct 2020
Location: Sparrows Point Maryland USA
Boat: 1968 Columbia 36
Posts: 68
Re: Old boat liability Insurance?

Quote:
Originally Posted by Bycrick View Post
The "old boat" is often the problem. Old boats, particularly small ones, are often not well maintained. Why? Because their not worth much.

But imagine a scenario. Old 40’ sports fishing boat catches fire. Known maintenance problems. No insurance. Drifts through the anchorage area. Catches 2 other boats on fire. One a 30+’ foot sailboat in good shape. Uninsured. The other an insured 40+’ sports fisherman worth maybe $300k. Then catches the dock on fire. Ultimate cleanup costs about $200k, not counting the boats.

That’s why they don’t like old, small boats. They can cause as much damage as a big, new boat.

Agree with you 100%, except for insurance companies doing blanket cutoffs. I shouldn't need a full value survey for liability only insurance, but a cheap and quick "not a death trap, fire trap, or about to sink" inspection would absolutely make sense. And it wasn't hey prove to us boat is safe, it was nope we don't want your money at all... That makes zero sense... There are 30 year old boats WAY WAY worse then this 52 year old boat is. We all know the most important thing when looking at old boat is that boats individual condition not the make, model, or year..

Semi-related side note:
Reason I took a chance on this cheap old boat is because there were many indicators that previous owners put a lot of money into the boat. Nice new Yanmar less the 15 years old. vacu-flush head, New professionally made cushions inside and out with matching Sail cover and Bimini top, and the fact it was at Large marina in Annapolis ($$$$) . Sure it was still a risk, any Boat Angel site unseen boat is, and the boat has it's issues. Price was cheap enough that I could take the risk......
Fishzine is offline   Reply With Quote
Old 29-10-2020, 06:36   #13
Registered User

Join Date: Nov 2018
Location: Panama
Boat: Norseman 447
Posts: 1,626
Re: Old boat liability Insurance?

Ah, you're beating up the messenger. I, too, have a going-on-40-year-old boat. I imagine I will soon "be in the same boat." Pun intended.

I was repeating what I’d been told by numerous insurance people in the process of vainly attempting to find group liability insurance for yacht club members who were currently uninsured. Several good insurance companies told me "there isn’t a pole long enough to not touch it with."

You, or I, might be the exception to the "old boats have a higher risk of causing a claim," but they don’t run their business on the exceptions.

Whether I like or agree with that is purely besides the point. One possible work-around exists. Marine insurance is much less "regulated" than many other forms. Sometimes one can find a broker who has a "personal" enough connection with the underwriter to get the underwriter to bend the rules. On the other side, most underwriters don’t carry all the risk. They sell it off to reinsurance companies that care even less that you or I have got 50-year-old boats in great condition. The reinsurance companies just statistically walk the docks, look at the sample of old boats laying there rotting, and run for the nearest shore. You can’t really blame them.
Bycrick is offline   Reply With Quote
Old 29-10-2020, 08:17   #14
Registered User
 
Bill O's Avatar

Join Date: Jul 2015
Boat: Bruce Bingham Christina 49
Posts: 3,328
Re: Old boat liability Insurance?

Quote:
Originally Posted by Fishzine View Post
First post, will post in intro sometime soon. But first my most pressing question.


Just bought a 1968 Columbia 36. Plan was to use my existing insurance agent who keeps sending me things telling me they cover boat too... Called them and they decided boat is too old....
Boat will be keep in Chesapeake bay area.


Next up Gieco/BoatUs. also rejected for age...

UGH...

Suggestions? Don't need to insure the hull itself as it wasn't 'that' expensive, but bit of a wrinkle that first two places I talked to simply flat out refused me.

Brian

Try Allstate or Nationwide.
__________________
Bill O.
KB3YMH
https://phoenixketch.blogspot.com/
Bill O is offline   Reply With Quote
Old 29-10-2020, 09:01   #15
Registered User

Join Date: Jan 2014
Location: Ft. Lauderdale
Boat: Watkins 29
Posts: 409
Re: Old boat liability Insurance?

Quote:
Originally Posted by pjShap View Post
You can try asking for liability-only insurance. Progressive offers it, but unsure about an age limit. When I had difficulty finding insurance, Allstate covered my boat. Rules vary from state to state, so contact an agent in the state where boat will mostly reside.
I have a Progressive Liability only policy with Progressive. My boat is a 1987 vintage. Its expensive even though Ive been sailing for 40 years... but no survey required.
dennismenace111 is offline   Reply With Quote
Reply

Tags
boat, insurance

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Need help with boat insurance I cant find liability insurance Whgoffrn Dollars & Cents 26 30-12-2022 00:01
Liability insurance for boat haulout and storage Capt. Ray General Sailing Forum 31 12-12-2017 14:52
Need boat insurance- liability coverage. Any advice? Chacko General Sailing Forum 9 20-03-2017 22:00
Where to shop for liability insurance? Canadian boat going to Mexico. RedHerring Dollars & Cents 33 09-06-2016 16:13
Greek Liability Insurance, non EU boat terra57 Europe & Mediterranean 4 05-05-2015 10:14

Advertise Here


All times are GMT -7. The time now is 22:15.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.