• If this is your first visit to the iboats.com Boating Forums, be sure to check out the FAQ. To post a question or comment, begin by signing up. To start viewing messages, select the forum that you want to visit from the selection below.


Announcement

Announcement Module
Collapse
No announcement yet.

Insurance for old boats

Page Title Module
Move Remove Collapse
X
Conversation Detail Module
Collapse
  • Filter
  • Time
  • Show
Clear All
new posts


  • Insurance for old boats

    I was denied insurance because my boat is too old. Is this typical?
    1965 20' Texas Maid Electra

    http://forums.iboats.com/showthread.php?t=261511

    sigpic


  • #2
    Re: Insurance for old boats

    I can tell you AAA will not insure them once they reach 20 yeards old...
    sigpic
    1992 Four Winns 180 Freedom 3.0L
    Clinton Township, MI
    "Talk to yourself and you'll hear what you want to know".......

    Comment



    • #3
      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.

      Comment



      • #4
        Re: Insurance for old boats

        You might try BOAT/US. They have an agreed upon hull value policy.
        2009 Neptoon 25TT Sport Sun Lounger
        150 Honda

        Older than dirt and just about as active.

        Comment



        • #5
          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

          Comment



          • #6
            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

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

            1967 16' Crestliner and 60hp Johnny

            Klamath Trailorboat and 9.9 Johnny

            Comment



            • #7
              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"
              Silverton 34C
              White/Green

              Wellcraft 23 Nova XL

              Lowe 1448 BigJon
              w/Evinrude 25HP

              Comment



              • #8
                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

                Comment



                • #9
                  Re: Insurance for old boats

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

                  Comment



                  • #10
                    Re: Insurance for old boats

                    From what I understand I cannot even get liability for it.
                    1965 20' Texas Maid Electra

                    http://forums.iboats.com/showthread.php?t=261511

                    sigpic

                    Comment



                    • #11
                      Re: Insurance for old boats

                      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"
                      Silverton 34C
                      White/Green

                      Wellcraft 23 Nova XL

                      Lowe 1448 BigJon
                      w/Evinrude 25HP

                      Comment



                      • #12
                        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
                        woosterken
                        '74 MFG gypsy
                        '95 F150 4X4

                        Comment



                        • #13
                          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

                          Comment



                          • #14
                            Re: Insurance for old boats

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

                            Comment



                            • #15
                              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.

                              Comment

                              Working...
                              X