Ferro Insurance Sought

[AmandaSoarsFree]

Hello fellow Sailors!
I just bought a 1978 Samson C- Baron 55' Ketch sailboat. The hull is Ferrocement. I am having a very hard time locating a marine insurance company that will cover older ferro vessels. Anyone out there find an insurer? I must have coverage to satisfy my dock owners. Any suggestions appreciated! Fair winds and smooth sailing all.⛵⚓

[AiniA]

Is th problem primarily the age of the boat or the construction. I have a 1978 glass boat that was turned down by a company that insures thousands of boats in Canada because of age but was able to easily get insurance from a company that insures 'classic' cars and boats. We did have a good survey and strong sailing resume on our side.

[wingssail]

You might get insurance but they probably won't pay, as Washington found out when theirs sank.

https://www.youtube.com/watch?v=gm0YQ3vuyyY

[grantmc]

OP you might receive a better quality of answer if you include where in the world your boat is located. Perhaps complete your profile.

[TrentePieds]

Amanda:

Your dock-owner's/marina's insistence on your having insurance stems from his fear of being stuck with a hulk - afloat or sunk - and the consequential cost of removing the hulk should you simply walk away from the situation.

He will not give two hoots whether you have "Hull" insurance = "own damage insurance"

What you need is "liability insurance" to cover a situation where you either deliberately or accidentally stiff someone for the cost of damage - or other costs - incurred by him through some action or inaction of yours.

Normally a "marine policy" combines the two kinds of insurance - "Hull" and "Liability - in one "package, just like in a "Tenant's Package" package does for renting premises on land. Try to find a broker that will find an insurer that will underwrite JUST a "liability coverage" for you. Talk to your dock owner/marina manager to verify that he will be satisfied with such a policy. He'll want a copy of the "Insurance Certificate" at each policy renewal.

Bonne chance :-)!

TrentePieds

[CSY Man]

Hello fellow Sailors!
I just bought a 1978 Samson C- Baron 55' Ketch sailboat. The hull is Ferrocement. I am having a very hard time locating a marine insurance company that will cover older ferro vessels. Anyone out there find an insurer? I must have coverage to satisfy my dock owners. Any suggestions appreciated! Fair winds and smooth sailing all.⛵⚓
AmandaSoarsFree is offline Report Post p

No idea where you are, but on a boat like that you are better off not having
any insurance at all as the hull is most likely worthless and if you paid anything for the boat, it was probably too much.
(Nothing personal of course, but I have seen and experienced some of these ferro cement boat, not impressed)

[Fore and Aft]

CSYman I was thinking the same thing and thought the handle AmandaSoarsFree just a little ironic.
A 44 year old ferro yacht sounds more like a nightmare than anything else.
I wonder where Amanda is? Most marinas here in Queensland want third party liability and wreck removal.
Cheers

[AmandaSoarsFree]

Originally Posted by AiniA

Is th problem primarily the age of the boat or the construction. I have a 1978 glass boat that was turned down by a company that insures thousands of boats in Canada because of age but was able to easily get insurance from a company that insures 'classic' cars and boats. We did have a good survey and strong sailing resume on our side.

The primary issue seems to be the Ferrocement hull.

[AmandaSoarsFree]

The primary issue seems to be not age but the Ferrocement Hull.

[TrentePieds]

Yes, Amanda. I would expect EVERY underwriter to say "thanks, but no thanks". An underwriter is not required to be rational - he is only required to make what in HIS opinion will be good bets :-)

If I were in your shoes I would begin to look for a reasonable way to dispose of the boat lest it should become a white elephant. I know those are hard words, but do not forget that any "ship breaking costs" are now yours to carry (because you are the owner) and they might well be onerous. If no marina will take you because you cannot get insurance, she'll eventually wind up on the hook and abandoned somewhere. I've seen many such, and the Canadian government in fact has a program to do the work of impounding and breaking boats left on the hook in public waters. The government comes back on the owner, of course, with a judgement to recover the costs.

Do see if you can get Liability Insurance, only, and a marina berth. Then extricate yourself a graciously as you can.

All the best to you.

TrentePieds

[thesaltytar]

Hello Amanda. I personally believe congratulations are in order on your new acquisition. I believe you are in the US?

Have you tried State Farm? They insured my 1956 wooden schooner, 36', and didn't even ask for a survey. I kind of forced one on them because I just assumed they would want it to begin with. As an insurance agency I've never made a claim but their $500k liability policy has satisfied every marina I've been in and the rates are very low.

Failing that, try Merkel..they deal with older wooden boats so perhaps they have a penchant for the exotic; might be worth following up if you want more comprehensive coverage.

FWFS and good insurance hunting to you.

[Lepke]

Try Hagerty. They do classic boats.
https://www.hagerty.com/insurance/boat-insurance/

[Lucky Luke 1]

Originally Posted by AmandaSoarsFree

Hello fellow Sailors!
I just bought a 1978 Samson C- Baron 55' Ketch sailboat. The hull is Ferrocement. I am having a very hard time locating a marine insurance company that will cover older ferro vessels. Anyone out there find an insurer? I must have coverage to satisfy my dock owners. Any suggestions appreciated! Fair winds and smooth sailing all.⛵⚓

How did you go?