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  1. #1
    Petty Officer 1st Class
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    Default Insurance for old boats

    I was denied insurance because my boat is too old. Is this typical?

  2. #2
    Petty Officer 2nd Class mike-the-cobra's Avatar
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    Default Re: Insurance for old boats

    I can tell you AAA will not insure them once they reach 20 yeards old...

    1992 Four Winns 180 Freedom 3.0L
    Clinton Township, MI
    "Talk to yourself and you'll hear what you want to know".......

  3. #3
    Supreme Mariner
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    Default Re: Insurance for old boats

    Allstate has the same policy. I think if you had the boat documented, they would insure it.

    BTW - If you insure a newer boat with Allstate, and it gets to be old, they will still insure it, as long as you own it.

  4. #4
    Chief Petty Officer OldePharte's Avatar
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    Default Re: Insurance for old boats

    You might try BOAT/US. They have an agreed upon hull value policy.
    2009 Neptoon 25TT Sport Sun Lounger
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    Older than dirt and just about as active.

  5. #5
    Lieutenant RotaryRacer's Avatar
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    Default Re: Insurance for old boats

    My regular insurance company for cars and home wouldn't insure my boat b/c it is older than 20 yrs.

    My agent also represents Progressive and they insure my boat with no problem for a very reasonable rate for a fair agreed to value. I don't know if they have a limit of something great than 20...like 30 yrs or something. Give Progressive or a local agent a call and see if they will insure a boat as old as 1965.
    RJP
    2004 Four Winns 180 Freedom, 150 HP Evinrude Direct Injection
    1974 Winner 280 Cruiser, t-302 225HP V-drives
    2002 Gheenoe 13', 5HP Nissan 2 stroke
    1981 Four Winns Marquise 180 Cuddy, Mercruiser 165HP I6 -- PROJECT

  6. #6
    Lieutenant Commander Lion hunter's Avatar
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    Default Re: Insurance for old boats

    Alot of companies won't insure for old boats for loss. And in truth it's not much use paying for loss insurance on a boat that's real old and fairmarket value maybe $1K. I would even bet if there was a loss they would use NADA, which is very low. Ususally you can get liabilty to protect yourself while on the water. If it's hooked to your truck the vehicle insurance covers it, and if in your yard the homeowners takes over.
    The Crestliner Restoration

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    1967 16' Crestliner and 60hp Johnny

    Klamath Trailorboat and 9.9 Johnny

  7. #7
    Lieutenant Commander arks's Avatar
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    Default Re: Insurance for old boats

    My last 2 boats were both over 20 years old. They were both in great condition, so NADA guides were worthless in determining their value.
    My insurance agent did some checking and discovered they (State Farm) will write "agreed value" policies. This kind of policy simply insures the vehicle for a pre-determined amount. The insured value will not change with time (unless YOU decide).
    Anyway, my 23 footer was insured for $18K. I had to provide pictures and reciepts for some of the more expensive enhancements (like the new engine, outdrive and trailer).
    Over the 18 years I owned that boat, I made a couple of claims and there was no problem at all.

    My current boat is 34' twin engine cruiser and (for whatever reason) they needed a marine survey before insuring it. That was no problem for me because I had one done before buying it. The survey estimated the current value of the boat, so State Farm insured it for that amount. I've owned this one for over 5 years now and I'm kind of surprised they haven't requested another survey be performed- I've heard that is typical to confirm the boats' current value. I'm not positive, but I'm thinking we might have stayed with the "agreed value" type of policy....which would explain why they haven't asked for another survey.

    Oh, BTW- I keep a completely separate "umbrella" liability policy for ALL my "owned" things- house, land, cars, boats, etc.
    "Winter Dream"
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  8. #8
    Commander bifflefan's Avatar
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    Default Re: Insurance for old boats

    I have Allied/Nationwide Ins. on my cars and boat. mines 33 years old. they just asked me how much coverage i wanted and i told them a value. thats what its covered for.
    2011 Triton 190 Escape SE 150 Mercury Pro XS

    I never learned much from winning, but always learn from failure.
    Semper Fi

  9. #9
    Admiral
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    Default Re: Insurance for old boats

    but you do have liability insurance on it?
    rob
    home is where we drop anchor

  10. #10
    Petty Officer 1st Class
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    Default Re: Insurance for old boats

    From what I understand I cannot even get liability for it.

  11. #11
    Lieutenant Commander arks's Avatar
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    Default Re: Insurance for old boats

    Quote Originally Posted by redeye1962 View Post
    From what I understand I cannot even get liability for it.
    Yeah, you can.
    I don't think you understand liability coverage. Talk to your agent and they'll clarify things for you.
    "Winter Dream"
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    White/Green

    Wellcraft 23 Nova XL

    Lowe 1448 BigJon
    w/Evinrude 25HP

  12. #12
    Lieutenant woosterken's Avatar
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    Default Re: Insurance for old boats

    Red,
    check this out...............
    http://www.hagerty.com/
    or progressive I have them on my "74 mfg agreed value and liability is only $100.oo a year in ohio

    woosterken

  13. #13
    Lieutenant Commander Lion hunter's Avatar
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    Default Re: Insurance for old boats

    You can get liabilty insurance on darn near anything. It will not cover any damage to your boat, but it will protect you and your assets should you be at fault for an accident.
    The Crestliner Restoration

    http://forums.iboats.com/showthread....49#post2218249

    1967 16' Crestliner and 60hp Johnny

    Klamath Trailorboat and 9.9 Johnny

  14. #14
    Master Chief Petty Officer bigskiohio's Avatar
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    Default Re: Insurance for old boats

    1973 starcraft value 2000.00 progressive 125.00 a year in ohio
    1973 Starcraft Supersport
    120 mercruiser 153c.i.

  15. #15
    Cadet
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    Default Re: Insurance for old boats

    Progressive will insure my 1965 Glasspar G3 for ~$120/yr. Go to their website and do it all today... It'll let you choose the coverage amounts.

  16. #16
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    Default Re: Insurance for old boats

    Allstate wouldn't insure my boat, as they don't offer insurance for boats over 30 years old.
    I went with an agreed value policy from BoatUs. Full coverage is in the neighborhood of $220 a year.

  17. #17
    Master Chief Petty Officer This_lil_fishy's Avatar
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    Default Re: Insurance for old boats

    Yeah, my insurance was the opposite. They'd insure my 30 year old boat with an outboard, but wouldn't insure anything with an inboard motor. The insurance companies all have their own arbitrary set of rule that they follow, regardless of the reality of life.

    Check around for marine specific brokers, they help out the most. My $25K boat is actually about $500 less a year to insure then my ol' $1500 boat with the marine insurer.

    Ian

    '08 Glastron GT205
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