I Can't Get Boat Insurance

[Happ]

Originally Posted by KelseyB

She's on the east coast of the US with no plans for another long trip anytime soon. We take her out on day trips and some weekend and weeklong trips up and down the Chesapeake, or perhaps off the coast of Virginia Beach but all nearshore. The trouble is I don't have any other insurance of my own- I'm still on my family's health insurance and don't own a car or house or anything else. We tried working with my partner's insurance, since he owns a car and a house, but they wouldn't do it either.

And she's a 1974 "Noord Nederland Jachtbouw Seahawk 31" - steel, Dutch-built, 30 feet overall. But despite her age, she had a 2020 refit that included a new 2020 diesel and all new running gear, new standing and running rigging, new sails, all new electronics, the works. So aside from the hull and mast, everything else is basically new, but that hasn't seemed to help my case so far.

I would strongly suggest you get a new Survey from a Licensed Surveyor. Insurance companies want to see the initials after their names. That helps a lot.

[JoetheCobbler]

Originally Posted by KelseyB

When I first got my boat, I had it titled under both myself and my father so she could be added to my family's BoatUS policy, which already had other boats on it, and because I didn't have my own insurance for anything at the moment (I was 20 at the time). But now, my boat's specific policy within my family's policy was accidentally allowed to lapse, so I need new boat insurance and was planning on just getting my own at this point.

The trouble is: no one will insure my boat. Apparently, after the original policy lapsed, BoatUS changed their policies and will no longer cover boats over 40 years old. And every other company I have called won't insure her for any variety of reasons: she's old, I'm young, the boat is steel, what have you. I have asked about just getting liability insurance and crossing my fingers, but no company I have spoken with will even do that. I have managed to get one quote for over $1000/month, which I simply can't afford.

For anyone out there who has a "classic" boat (what the insurance companies are calling her) and/or a steel boat, any tips?? Any specific companies I should call?

You don't specify where in the Bay you are.
And why do you want insurance?

If it's to get into a marina, there's still plenty of locations that don't require insurance.

[Wannabes00n]

As has been suggested, Call Gowrie. Good Luck!

[TabbyCat]

Originally Posted by KelseyB

Yea I am coming more and more to that realization that liability may be all I can get, which would be fine, but I still haven't had luck with even just that.

And yes- every company I've spoken with I've given them my extensive sailing history to attempt to combat the age thing, but it still hasn't seemed to outweigh the age of the boat and hull material.

Actually, most companies would rather write full coverage than Liability only. So by asking for liability only, you are limiting your options. Also, you will still need a survey. Contrary to popular opinion, you still need a survey for a liability only policy, as the underwriter needs to know the condition of the vessel that they are considering covering. If you have a recent survey, and the vessel is work more than $20,000, we should be able to get you a quote, so perhaps you might fill out our quote request form at International Waters Insurance Services

[piloto]

Originally Posted by KelseyB

When I first got my boat, I had it titled under both myself and my father so she could be added to my family's BoatUS policy, which already had other boats on it, and because I didn't have my own insurance for anything at the moment (I was 20 at the time). But now, my boat's specific policy within my family's policy was accidentally allowed to lapse, so I need new boat insurance and was planning on just getting my own at this point.

The trouble is: no one will insure my boat. Apparently, after the original policy lapsed, BoatUS changed their policies and will no longer cover boats over 40 years old. And every other company I have called won't insure her for any variety of reasons: she's old, I'm young, the boat is steel, what have you. I have asked about just getting liability insurance and crossing my fingers, but no company I have spoken with will even do that. I have managed to get one quote for over $1000/month, which I simply can't afford.

For anyone out there who has a "classic" boat (what the insurance companies are calling her) and/or a steel boat, any tips?? Any specific companies I should call?

ORM- Offshore Risk Management in Florida: speak with Mauricio Silva-liability only, no survey required $600 to $1,000/year depending on level of coverage.
954-430-3711

[Nepidae]

You left a lot of space in your tale which would be critical to helping you.

No date of manufacture and no manufacturer?

No size?

No model?

It would seem that you need to have a discussion with BOATUS a high level person in insurance. Get a name when you get the guy.

Remind him you were on a family policy and that the remaining boat are still insured.

I am insured thru BOATUS but may soon move. I am a vet with USAA insurance for home & vehicle and will be exploring boat coverage.

Pick up a Latt & Atts magazine, there are dozen insurance companies listed there.

Here's a final suggestion, go online to BOATUS and request a quote. 1st thing that came up was a way to get a Progressive quote. Fill in the blanks for any you can & see what comes back.

Google, sometimes can be a wonderful tool.

Good luck.

[Lepke]

https://www.hagerty.com/insurance/boat-insurance/

They do older boats, boats under refit, liability only. US and Canadian waters 25 miles out.

They'll do my boat, wood, 80 years old. With a good survey. $1000/month is twice my liability only.

Also try companies that insure commercial boats.

[BuoyCall]

Just got a client approved with a 41 yr old 58' liveaboard. Very decent rate...i was actually surprised.

[Tcozelos]

Try Amica insurance. When we bought our boat we were turned down by insurance brokers, basically told we couldn’t get insurance. They insured us.

[newhaul]

Originally Posted by KelseyB

When I first got my boat, I had it titled under both myself and my father so she could be added to my family's BoatUS policy, which already had other boats on it, and because I didn't have my own insurance for anything at the moment (I was 20 at the time). But now, my boat's specific policy within my family's policy was accidentally allowed to lapse, so I need new boat insurance and was planning on just getting my own at this point.

The trouble is: no one will insure my boat. Apparently, after the original policy lapsed, BoatUS changed their policies and will no longer cover boats over 40 years old. And every other company I have called won't insure her for any variety of reasons: she's old, I'm young, the boat is steel, what have you. I have asked about just getting liability insurance and crossing my fingers, but no company I have spoken with will even do that. I have managed to get one quote for over $1000/month, which I simply can't afford.

For anyone out there who has a "classic" boat (what the insurance companies are calling her) and/or a steel boat, any tips?? Any specific companies I should call?

My my 59 year old columbia defender is insured through progressive and my monthly premium is 26 bucks for 5000,000 liability and 999,998 dollar epa cleanup insurance.
At a million the price goes up exponentially.

[newhaul]

Originally Posted by TabbyCat

Actually, most companies would rather write full coverage than Liability only. So by asking for liability only, you are limiting your options. Also, you will still need a survey. Contrary to popular opinion, you still need a survey for a liability only policy, as the underwriter needs to know the condition of the vessel that they are considering covering. If you have a recent survey, and the vessel is work more than $20,000, we should be able to get you a quote, so perhaps you might fill out our quote request form at International Waters Insurance Services

Except you don't need a survey for some companies for liability . I didn't for any of my older boats over the last 15 years.

[gonesail]

lesson learned: don't let your policy accidentally lapse

[Mike OReilly]

Originally Posted by newhaul

Except you don't need a survey for some companies for liability . I didn't for any of my older boats over the last 15 years.

This is exactly the problem with insurance; it's a black box to most of us. We have no idea what goes on inside the box. We have no idea how decisions get made, how rates are set, how the demand for surveys get made. All of it is opaque -- intentionally so I would say.

A few years ago I ran a somewhat detailed insurance survey using both CF and SN members. I ran it off-site so I could construct a decent survey. One thing that became clear was that insurance rates were all over the map. And this included people in the same locations.

From the constant new threads here it's easy to see insurance is a major PITA for many cruisers. I really wish we had the organizational energy to start our own insurance cooperative.

[pcmm]

Originally Posted by newhaul

Except you don't need a survey for some companies for liability . I didn't for any of my older boats over the last 15 years.

This seems to be changing. I just switched insurance companies this spring because my existing liability only insurance required a survey to renew this year. Glad I got the survey because I decided to shop around and (as I had a survey scheduled) and no one was interested in liability only insurance until a survey was completed! At that point I decided as the annual cost for full coverage was just a few hundred $ more that liability I might as well go full coverage.

because someone will ask.

$2million liability only insurance was $520 per year (standard coverage amount)
$2 million liability with $80k agreed value and other standard coverages...$$820 per year... No brainer at that point!

[pcmm]

Originally Posted by Mike OReilly

This is exactly the problem with insurance; it's a black box to most of us. We have no idea what goes on inside the box. We have no idea how decisions get made, how rates are set, how the demand for surveys get made. All of it is opaque -- intentionally so I would say.

A few years ago I ran a somewhat detailed insurance survey using both CF and SN members. I ran it off-site so I could construct a decent survey. One thing that became clear was that insurance rates were all over the map. And this included people in the same locations.

From the constant new threads here it's easy to see insurance is a major PITA for many cruisers. I really wish we had the organizational energy to start our own insurance cooperative.

These days age of the vessel is becoming the first goal-post to pass! This spring when I was looking, a lot of companies had a age cut off of 2002 ( nothing older than 20 years) That alone is a BIG issue up here on the great lakes!! probably 80-90% of the sailboats at my YC are older than that. with probably 50% from the late 70's-early 80's.