Insurance for older plywood cruising trimarans

[Seafarer24]

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

Is that per month?

[thomwessels]

WHOA, just tried to talk to Farmer's Insurance. After looking at their website, I called the number for the Elsinore, CA agent listed. Never got a call back, so I called again. When he realized who I was, it became the weirdest call to a business I had ever engaged in. He was rude, unhelpful and even admitted that Farmers website lies about what they say they cover.
They have a program called 'Classic Package' that, according to the website, was the exact plan for me. No such thing, it doesn't exist in reality. (Isn't that illegal?)
How disappointing. I don't know know why they are still in business.
Bump ba dump bump, indeed.

Thom W
39' Horstman trimaran
CROSSROADS

[mark_morwood]

Originally Posted by 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.

Sorry, my misunderstanding. Are they not willing to even offer Liability Insurance, as I assume that is all the marina requires? That is what we found in Europe, not sure of the story in CA.

[thomwessels]

Yes,Mark, all the insurance companies I've spoken to are unwilling to even consider liability!
That doesn't make any sense to me either and it just goes to the insanely strict, shallow minded policies of these companies. Liability coverage would be, for the vast majority of policies written, free money (as is the goal and dream of all insurance companies).

Thom

[thomm225]

Originally Posted by thomwessels

Yes,Mark, all the insurance companies I've spoken to are unwilling to even consider liability!
That doesn't make any sense to me either and it just goes to the insanely strict, shallow minded policies of these companies. Liability coverage would be, for the vast majority of policies written, free money (as is the goal and dream of all insurance companies).

Thom

Call State Farm unless your state is different.

I have $500,000 worth of Liability Insurance (pretty standard for marinas) on a 42 year old boat that hasn't been surveyed for around $9.00/month.

Marinas here will not allow you to dock without it.

[Roy M]

I have used Allstate for many years, here in California, home of litigation. My yacht club requires me to include them as additional insured. No problems and no worries. Spend your money on safety systems, security, and maintenance to prevent failure and deterioration, not to fund an executive insurance agent's gold plated megayacht.

[thomwessels]

Thanx, thomm, I'll try them.
Roy, Allstate was another short sighted company unwilling to even discuss liability. My friend has had a 42' Cross for decades and he is insured by Allstate. I guess their decisions are based on Runes thrown that day....

Thom

[hellosailor]

Thom-
Many insurers will *renew* a policy for a current customer, forever. So your friend who is insured by Allstate may be getting insured only because his boat was only 20 years old when he got it. (30 years is a witching point.) That's common in the insurance industry, to continue servicing customers with experience and a good claims history, while not taking on "the same" risks from new customers.
In your case, wood boat, more than 30 years old? Unless the next buyer already has ownership experience with similar craft and an existing insurer relationship, you could have better luck going to Lloyd's and asking for bids. [sic]
I don't think anyone else has the reputation for professionalism that IMIS has. They could certainly confirm the issues for you.

[thomwessels]

thanx for that info. I'll keep looking and as a last resort will absolutely contact L of L.

[dcruz99801]

Thom: I'm the guy with the Horstman in Mexico who came to look at your sheeting. Last year my carrier in London(YachtInsure) demanded a survey, a fact my agent in Florida failed to relay. I injured myself in May; when I called from Calif. to renew in June they informed me I would be canceled if I did not provide the survey. We negotiated an "inactive, port only" coverage that only went down from $3700 to $3400, they dropped value to $40k. When I was fit and wanted to move the boat from La Paz to Guaymas (only place to haul my wide ass out) they canceled w/ only 10-day notice, citing failure to comply with survey demand. Agent said they were looking for excuses to get out of old tri's. I have since sailed the boat (single-handed) to Guaymas, without coverage, but too late to do work in their summer heat, so I will haul out in October.

I found an agent for Geico who quoted $1500 for a $65K policy, provided I had a survey within 30 days. I mentioned that my motor had started singing its death song on the crossing, could not guarantee an in-the-water demo, and he did not care; only the out-of-water inspection mattered. Contact them, by all means.

[thomwessels]

Are you the fellow who left the neat sunglasses? What is your boat's name? Did you employ any of the single handing sheeting ideas? I love how easy CROSSROADS can be sailed by one person. At any rate, I hauled in Guaymas in 92 at the start of my cruise. They did a good job bracing the boat....considering that it's a rail lift and they have to dive on the boat to set it up.

I just heard back from Al Golden (IMIS General Services) who sounds very positive about covering CROSSROADS. Alas, a survey is the flavor du jour now it seems. Understandable. Luckily, the boat needs a haul out for bottom paint anyway, so this will be a two-fer.
Another hopeful is Aaron Douglas of the Richard C Douglas State Farm Agency in Temecula, CA. For everyone's reference.

Thom
CROSSROADS

PS: My diesel is an Isuzu 240. It's the best motor I've ever owned and after 100 hours, I can still see through the oil. It is very dependable. The fishing fleet in Seattle all seem to use these. You may want to give some thought about that as a replacement. Hope it helps.