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Old 21-01-2025, 21:02   #1
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Lithium and Insurance

This is not a real issue for us for the long term future, but it is worth collecting data. We have LA gel batteries, and they are likely good for another 5 to 10 years. Our insurance underwriter is Markel, and they charge at least a 20% increase for LiFePo batteries, with a significant list of other restrictions before they would cover a Li installation.

I suspect that the reason they have so many limitations is that they are reluctant to insure DIY electrical systems. I certainly would be, considering the incredible level of ignorance that I see from watching things here. Questions from people who have NO idea what they are doing, but are doing anyway. They scare me. Having one of those idiots as a dock neighbor with a MUCH higher than normal fire risk is something I would prefer to avoid, but can not.

But my question is, are there other underwriters who are worried about the risk of LiFePO batteries and put significant restrictions on their installation?

This is not a question about if LiFePO batteries are safe or not. In a good installation they are, and in a bad installation they are not. This is only about insurance underwriter's perspective....
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Old 21-01-2025, 21:13   #2
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Re: Lithium and Insurance

I do not know any other insurer who charges more for LiFePO batteries. Some require that they be installed by an ABYC certified electrician and ask for the installers name on the application.

I think most insurers have accepted that LiFePO batteries are no more likely to cause a fire than lead acid. Both types need to be installed correctly. Markel’s underwriting needs updating.
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Old 21-01-2025, 23:43   #3
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Re: Lithium and Insurance

I don't mind the ignorance so much, I'm one of them probably. On the whole people undertaking things and trying to learn and grow. And I dont think that many boats get destroyed in the process nor people getting killed.

I do mind the overbearing nature of the insurance companies though. They'd much prefer us to sit on our sofa looking at a screen, it would appear. Although in the US this effect is probably stronger.
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Old 22-01-2025, 05:23   #4
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Re: Lithium and Insurance

According to my insurance agent, Justin Case; we should raise insurance rates, on cruisers, who have never crashed their boats, because they're boating wrecklessly.

BTW:
Q: How much does presidential impeachment insurance cost?
A: Just one pence.
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Old 22-01-2025, 06:20   #5
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Re: Lithium and Insurance

We did our own. We had the battery supplier design the system. Our survey says that the system was installed per the battery manufacturer’s design instructions.
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Old 22-01-2025, 13:30   #6
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Re: Lithium and Insurance

Before initiating planning for the conversion of our FLA house bank [10.8 kWh nom] to LFP, I sent the following inquiry to our marine insurance broker, soliciting feedback from the underwriters of our AMIG policy [all risk; total loss; mild-mid 6 figure cover; US flagged vessel in US waters.]

Nov-2023 [sic]
Quote:
The house battery bank I installed when we bought the boat in 2014 will likely need to be replaced within the next year or so.

I am evaluating replacing our [jargon warning…] Flooded Lead Acid batteries [FLA] with commercially made Lithium Iron Phosphate batteries [LiFePO4 or LFP]. If I went with LFP batteries, I would purchase commercially made products from a US based manufacturer [e.g., Epoch, KiloVault, Battleborn, LiTime, etc.]

Before I go any further with my planning, I wanted to ask if LFP batteries will affect my yacht insurance policy, and/or whether AMIG has any guidelines and/or constraints regarding LFP batteries. [Please note: I am referring specifically to Lithium Iron Phosphate batteries only. Many people just say Lithium batteries, but there are many formulations. LFP won’t combust on their own…]
Their response:
Quote:
Hi Bill,

Here are answers to your questions:

AMIG does not have any specifications/guidelines/exclusions regarding battery type. As long as whatever battery you have or you get is installed to meet fire/safety guidelines [ed: i.e., ABYC as a US flagged vessel] for that variety, then you are fine with any kind.
As a result I am now in the final stages of completing the conversion to a 16 kWh [nom] LFP house bank.

In case any of this is useful to anyone.

Cheers, Bill
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