I Can't Get Boat Insurance

[newhaul]

Originally Posted by sailingharry

We are not major marina visitors, but we have probably stayed in several dozen marinas in half a dozen states, a few Canadian provinces, and the French islands of St Pierre and Miquelon.
I have never been asked one word about insurance.
My home marina, I have had to provide a copy of the policy. Can't recall what, if any, limit requirements there were.

Most marinas require either 300k or 500k liability insurance coverage.
The rest is up to you but don't forgo the fuel spill cleanup coverage. Mine is a million dollars minus one.

[Ixium]

My Marina that is a major stop in Canada for boats before the Trent Severn loop requires 2 million liability. Not sure if they ask transients but for sure the seasonal slips get asked to show proof

I have literally no courses, no previous boat ownership, had my drivers license suspended and bought a 40ft sailboat. It’s 40 years old. 1983.

No real issues getting insurance. 2 mil liability was 800$ per year and full coverage was 1400$.

[BuoyCall]

Originally Posted by kandlekid

Why is it so hard to get boat insurance and so easy to get auto insurance?

Only had a couple clients not being able to get them insurance. Boats too old not getting Hull insurance liability only with photos. Others had extreme navigational needs taking them to Europe and beyond...certain carriers only go so far so I suggest using a local agent in foriegn countries while there.

There are all sorts of needs its just taking the time to match the clients needs to the right carriers.

[nuku34]

Here in New Zealand, my home marina, Nelson Marina, does not allow any yachts to tie up as casual visitors or to berth as long-term berth renters unless they have insurance with a "salvage" clause. This clause will pay out if your yacht sinks in the marina and needs to be removed. This is in addition to the usual 3rd party clause about your boat causing "damage" to other people's property.
This requirement is now spreading throughout all of NZ's marinas.
The reality is that NO marine insurance company will write a 3rd party "liability only" policy with a salvage clause, so in NZ you are soon going to have to have a comprehensive policy with a salvage clause just to enter and tie up, even just at the fuel dock.
This the wave of the future folks; the good old days are gone.

[newhaul]

Originally Posted by nuku34

Here in New Zealand, my home marina, Nelson Marina, does not allow any yachts to tie up as casual visitors or to berth as long-term berth renters unless they have insurance with a "salvage" clause. This clause will pay out if your yacht sinks in the marina and needs to be removed. This is in addition to the usual 3rd party clause about your boat causing "damage" to other people's property.
This requirement is now spreading throughout all of NZ's marinas.
The reality is that NO marine insurance company will write a 3rd party "liability only" policy with a salvage clause, so in NZ you are soon going to have to have a comprehensive policy with a salvage clause just to enter and tie up, even just at the fuel dock.
This the wave of the future folks; the good old days are gone.

Actually you are incorrect I have just such a policy liability and salvage / cleanup policy
500k usd BIPD and 999,999.00 dollar epa cleanup which covers wreck removal and fuel spill cleanup/ mitigation
I know wierd but one dollar more and the policy cost quadruples.

[newhaul]

Originally Posted by BuoyCall

Only had a couple clients not being able to get them insurance. Boats too old not getting Hull insurance liability only with photos. Others had extreme navigational needs taking them to Europe and beyond...certain carriers only go so far so I suggest using a local agent in foriegn countries while there.

There are all sorts of needs its just taking the time to match the clients needs to the right carriers.

Did you try through Merkel ? We had our 1966 Spencer through them

[nuku34]

Newhaul,
I stand corrected. I only investigated 4 companies, 3 in NZ and one in the UK.
So how much did your policy cost if you don't mind my asking? And do you think tthe company you use would write a policy on a boat in New Zealand?

[boatpoker]

These folks do vintage car and vintage boat insurance

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

[newhaul]

Originally Posted by nuku34

Newhaul,
I stand corrected. I only investigated 4 companies, 3 in NZ and one in the UK.
So how much did your policy cost if you don't mind my asking? And do you think tthe company you use would write a policy on a boat in New Zealand?

Not sure if they underwrite there of not https://www.markelinsurance.com/search?q=Boat+
You could shoot them an email asking .

[newhaul]

Originally Posted by boatpoker

These folks do vintage car and vintage boat insurance

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

My currentsailboat a 1963 columbia defender is through progressive cost 230 a year bird and epa .
My truck is through Hagerty. 198 a year agreed value

[slugsgomoo]

Originally Posted by newhaul

Actually you are incorrect I have just such a policy liability and salvage / cleanup policy
500k usd BIPD and 999,999.00 dollar epa cleanup which covers wreck removal and fuel spill cleanup/ mitigation
I know wierd but one dollar more and the policy cost quadruples.

Let's be fair, with today's rates, a $999,999 USD policy is $1,329,798 CAD

[SomeGuyInaShirt]

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 boat is a 1976 and I have liability insurance in Canada with Dolphin Insurance. I am actively cruising in Mexico right now and paying $1000 CAD per year....maybe give them a look

[newhaul]

Originally Posted by slugsgomoo

Let's be fair, with today's rates, a $999,999 USD policy is $1,329,798 CAD

No that's how big of a cleanup bill they will pay . Not the cost of the policy.

[AiniA]

Originally Posted by newhaul

Did you try through Merkel ? We had our 1966 Spencer through them

Merkel used to insure foreign boats so long as you could provide a US address (a friend will do). They changed so that you must your own, actual US address.

[newhaul]

Originally Posted by AiniA

Merkel used to insure foreign boats so long as you could provide a US address (a friend will do). They changed so that you must your own, actual US address.

Just takes a bill with your name on it a cheap ell phone bill will do the job