need liability insurance for 1977 stardust cruiser, i park it in a slip at the lake, it has a steel hull

[timdeb]

state farm did did it, so i also insured my 1997 26ft emarald reunion with them to. thanks for the input yall.

 

[dingbat]

The important part is who determines the "value"?

Agreed value policy = Insurer pays declared value on policy

Actual cash value policy = Pays on condition and depreciation decided by insurer at the time of loose.

 

[airshot]

The important part is who determines the "value"?

Agreed value policy = Insurer pays declared value on policy

Actual cash value policy = Pays on condition and depreciation decided by insurer at the time of loose.

In all my boats, we worked with the insurance company to establish a value. Based on condition, BB, and other places that estimate value including advertisement we have always been able to come to a mutual value. I never have owned anything considered junk, so never an issue. My 1983 Islander was one of the more challenging to establish value due to its age. Lots of pictures up close, showing stringers, transom, wiring and bottom of hull, along with agents verification of everything being in good working condition, their estimate was higher than what I paid for the boat !! My current Sylvan is valued at a far greater price than what I paid for it.

 

[JimS123]

Agreed value is usually higher than "book value" because of exceptional condition and/or uniqueness of the item. As such, you're gonna pay a premium for the coverage.

Regardless, we're simply talking about liability here, so it's a different ballgame.

 

[alldodge]

YO, post 9
the OP says

liability is all im needin

Agreed value, or other has no bearing on what was asked

 

[Ned L]

Try Geico,…. That is what I have (liability only). That keeps the rates Very affordable. A “suitability for insurance” will most likely be required. That is a less thorough survery than a pre-purchase survey.

 

[JimS123]

Try Geico,…. That is what I have (liability only). That keeps the rates Very affordable. A “suitability for insurance” will most likely be required. That is a less thorough survery than a pre-purchase survey.

too late..already done

 

[airshot]

YO, post 9
the OP says


Agreed value, or other has no bearing on what was asked

The insurance will still use the value/ condition of the boat to create the premium !! All of them use value to determine cost. Brother in law is an insurance agent/ adjuster, his company is high cost, I dont use him for my own insurance.

 

[alldodge]

The insurance will still use the value/ condition of the boat to create the premium !! All of them use value to determine cost. Brother in law is an insurance agent/ adjuster, his company is high cost, I dont use him for my own insurance.

Don't agree, all do not. Farm Bureau doesn't

 

[rjwilliams11741]

Liability only should not be a problem unless you have a significant number of prior claims. Allstate, Geico, Geico through Boats US, Progressive all write marine insurance. Don't know where you are located but if you are in an area with a lot of boating activity there are usually a number of brokers specializing in boat insurance.

 

[airshot]

Don't agree, all do not. Farm Bureau doesn't

All the insurance companies in my area ( NW Ohio) has a form to fill out describing your boat to get any type of marine insurance!!! If you want general liability insurance you are required to use your home insurance or just buy an umbrella policy that gives you liability ins on everything !! Umbrella ins is not cheap because it is so broad, nothing around here for watercraft liability only without having a boat on record !!!!

 

[alldodge]

All the insurance companies in my area ( NW Ohio) has a form to fill out describing your boat to get any type of marine insurance!!! If you want general liability insurance you are required to use your home insurance or just buy an umbrella policy that gives you liability ins on everything !! Umbrella ins is not cheap because it is so broad, nothing around here for watercraft liability only without having a boat on record !!!!

Glad I'm not in OH

 

[JimS123]

All the insurance companies in my area ( NW Ohio) has a form to fill out describing your boat to get any type of marine insurance!!! If you want general liability insurance you are required to use your home insurance or just buy an umbrella policy that gives you liability ins on everything !! Umbrella ins is not cheap because it is so broad, nothing around here for watercraft liability only without having a boat on record !!!!

I DO have an umbrella and the requirements are very stringent. They require a certain minimum liability for all your other policies, including house, cars, boats, etc. If you have an uninsured boat, or it is only insured for minimum liability, they won't write an umbrella.

Insurance is a band-head-against-the-wall kinda thing. They gotcha no matter what you do. Because the details vary so much among different states, asking for insurance advice on an internet forum can get you into real trouble.