Insurane on older boats

movinaway · #1 (**permalink**) 06-15-2009

A learning curve for me. I called my insurance co. about a real nice 35 ft. boat, 1978 and a real nice 1985. Double the premium for the 78, with limitations, and they limited how much they would cover. Living in NC didn't help either. Every year the premium will go up and the coverage down with older boats. I was going to offer what they would cover (this was before I talked to the insur. co.) but now alot less. This will also effect a loan. Bigger downpay in this economy. The older the boat and the more you put into it the more you lose when you sell it. But I guess thats the way it always works. I'm going to tell the broker this and hope the owners understand so I can get the boat. Am I missing anything or is this just boating reality? And theres nothing wrong with my speeling.

redcobra · #2 (**permalink**) 06-15-2009

Check Boat US Insurance. They insured my 1975 PearsonYawl with no problems and then upped the value when I sent them copies of the invoices for my upgrades (rigging, winches, etc.)

movinaway · #3 (**permalink**) 06-15-2009

Thanks! I'll check with them in the morning. I think part of the problem is that I still will bend over and pickup a penny.

Joesaila · #4 (**permalink**) 06-15-2009

We got our 77 Morgan OI insured w Sea Insure via Sea Tow[ with a dinghy endorsement this year]. Great rates too! PM me for the phone if you like.

LarryandSusanMacDonald · #5 (**permalink**) 06-16-2009

We've got some good advice on boat insurance you might want to read on our website, The Frugal Mariner. Here's the link: The Frugal Mariner: Advice for the cash-starved boater -- Boat Insurance

SEMIJim · #6 (**permalink**) 06-16-2009

After all the horror stories I've read here about insurance, I figured we were in for a ride after we bought our 1976 Pearson P30. Imagine my surprise when our homeowner's insurance company said "Sure, no problem. Just send us a copy of the survey." They insured it for what we paid for the boat. Later I asked The Admiral about "cleanup coverage" (to pay somebody to clean up the petroleum spill if she sinks or is sunk) and it turns out we're covered for that, too. All this is costing us just a couple/few hundred a year, IIRC.

We love our homeowner's insurance company

Jim