Need Help With Finding Insurance

[Sleek4me]

Good Day To All. I am new to your forum.

My reason for joining is I'm having trouble finding Boat insurance that will cover the value of my boat.

I have a nice 1978 Skeekcraft 21 foot day cruiser. It is an I/O. Tunnel hill, low profile, open bow. Totally stock v8 engine.

Not that it matters but for fun I check used boat sales now and then and have never found another Skeekcraft tunnel hill open bow low profile I/O.

My current insurance company changed the policy from agreed value to only $2,000.00 total for boat and trailer. That is what I bought it for 15 years ago. If anyone has been pricing used boats lately (I am in Arizona. Boat on lake and river) you know good condition late 70's boats are running from 10 to 16 grand.

I'm looking for 10 grand replacement value. Every insurance company I have talked to are now saying they only insure for purchase price or due to it being so old max value is only 5 grand.

Even in the winter, I could not get a comparable boat for less then 10 grand.

Any suggestions on insurance companies that will insure for replacement cost?

I thank you all for any assistance.

 

[Drcoffee]

Try GEICO.

 

[alldodge]

There out there, but be ready to pay to have your boat surveyed. Also remember, many agreed to values does not cover everything that may happen to it. Read the fine print ad understand it

Also be ready for the price tag of an agreed to value. Many insurance companies have been taking a bath on boat policies and that's why many are dropping out. My cruiser has only liability on it. If it sinks its my nickle

 

[Sprig]

Find a boat insurance broker. They work with numerous companies. Let the broker shop insurance for you. However I doubt your going to find satisfaction. That’s an almost 50 year old Boat. Even insurance companies have a difficult time arriving at a fair value For older boats. In addition older boats that are over insured (not saying yours is) have a very poor claims experience. They have a tendency to suddenly crash, sink or somehow get totaled. That is just the companies experience and thus they are hesitant to insure such boats beyond minimal coverage. In any event try a broker and see what they can do for you.

 

[airshot]

No matter what you feel your boat is worth, you must be able to prove that the agreed value is reasonable. The ins company probably cant justify your estimate. I have Auto Owners and agreed value is no problem, but my value can be varified and is reasonable. More important is salvage and epa recovery costs....if your boat sinks and needs recovered andvthevepa charges you a fine for fuel / oil contamination, will your ins co pay that fine??? Your 10k is a drop in the bucket compared to what an epa fine would cost