Dock Insurance

[MysticKnotworkJill]

My husband and I bought a 45' dock and plan on living there on our boat. We are having a really hard time finding insurance for it. Right now we have a rider on our homeowners, but we plan on selling our house, so that is not going to work long term.
Does anyone know how to insure a dock? There is no land attached to it, just a right of way so we can park. It does have a street address though.

[tager]

I just have to say that it is awesome that you bought a dock.

[bubb2]

Originally Posted by MysticKnotworkJill

My husband and I bought a 45' dock and plan on living there on our boat. We are having a really hard time finding insurance for it. Right now we have a rider on our homeowners, but we plan on selling our house, so that is not going to work long term.
Does anyone know how to insure a dock? There is no land attached to it, just a right of way so we can park. It does have a street address though.

I would check back with your homeowners carrier. Your homeowner policy has 2 parts, personal liability and personal property (the house). Even though you sell the house you still need coverage for personal liability. (just in case you bake a bad cake for the PTA fund raser. ) This is usually done by a "renter's policy." They are already on the risk of the dock by rider. I would tell them you want a renter's policy when you sell the house and endorse (add a rider) it include the dock.

[scottyt]

maybe you could put the dock into a business. ie that rents out dock space, then you just get a policy for being a landlord. then you rent the space your boat uses, but you really pay yourself. this would allow you to rent out some space on the dock for an income too.

[eryka]

Your boat policy may include damage to docks, or be able to be modified to cover that damage, just like if you were staying in a marina. but you might also assess whether you *need* dock insurance - what's the risk that you're insuring against? what would it cost to fix yourself, i.e., to self-insure? A couple of pilings and some treated lumber? I'm confused.

[bubb2]

Originally Posted by eryka

Your boat policy may include damage to docks, or be able to be modified to cover that damage, just like if you were staying in a marina. but you might also assess whether you *need* dock insurance - what's the risk that you're insuring against? what would it cost to fix yourself, i.e., to self-insure? A couple of pilings and some treated lumber? I'm confused.

Slip and fall on the dock by a guest, is what I would be the most concerned about. Not just physical damage to the dock. There is more exposure here than just physical damage.

[SVAuspicious]

It seems to me that the dock you own is personal property and inherently insurable, unless you only purchased right of exclusive use or some other odd legal concept. Try finding an insurance agent with some creativity and you should be able to get property and liability coverage.

[MysticKnotworkJill]

Thank you everyone for the ideas. We do just want liability insurance in case someone hurts themselves. We are not so concerned about damage to the dock though you would be surprised about how much it costs to have a dock built. We did tear down the existing dock and are having a new one built to our specs.