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Help- New owner of 40ft old sailboat, can't get insurance

13K views 44 replies 31 participants last post by  xymotic 
#1 ·
Need help. New owner of a 1974 41ft blue water sailboat. This is the first boat I, myself, have owned. Right now, no insurance company will even give me liability insurance so I can dock at the local marina. I have tried:
SkiboatUS
State Farm
United Marine
Progressive
Global Marine

Their excuse is the same, too big of a boat for a new owner and it is near the ocean.

Any ideas?

To make matters worse, this boat is more of a project boat than normal. I bought the boat after it was washed ashore from a storm at a discounted price, got it back into water, and have been doing the necessary repairs. Very long story. While the boat is in great shape all things considered, the likelihood of getting a good survey is low at the moment as well. Currently I have to anchor it out due to insurance woes. The motor runs well, and the boat is worthy of a diesel powered journey, but the rigging and sails need lots of work.
 
#35 ·
Progressive was at least (2 years ago) one of the easiest places to get insurance. They did not require a survey and will insure coastal sailing. What is there reason for not insuring the boat? They insure my 34 year old boat.

I had problems with a lot of other insurace companies like Boat US. My homeowners (state farm) was going to insure then they backed out- I think they would rather stick to houses and cars rather than off-shore boats.
Good luck
 
#37 ·
I was looking at a '76 Sabre 34 that listed for $12K. I wanted to find out what the boat might be worth in average condition. I went to Boat US and filled out a form and they sent me an email estimating it at around $30K but added it could be higher or lower depending on a survey.

Then I started getting emails to insure it. I even got a policy in the mail that was for Florida and the Bahamas and the surrounding area. It was about $1,200/yr, but only insured the boat for $15K. I had already figured it would cost me that in repairs alone to make her safe to sail any farther from land than I could swim.

(I don't remember all the questions in the questionnaire but if they asked I would have said the largest boat I have ever sailed is 45' and I have about 7K-8K miles of sailing experience.)

They continued to send me emails about the policy for several weeks, the last being on 11/29 that included a toll free number to call or a link where I could go to purchase the insurance. At no time did I get anything that told me this offer was contingent on anything other than writing the check. I didn't pursue it because I didn't buy the boat.

FWIW.
 
#40 · (Edited)
I would try BoatUs as someone else mentioned. When I bought my boat there were a number of pretty serious deficiencies on the survey. I was able to get 'port restricted' insurance for the boat through Boat US.

Once I was able to correct the problems and get a surveyor to record that the propane tank no longer vented to the engine room, and that the knife switch for the 110 volt fuse panel was no longer on board and next to the propane tank, I was able to switch to a normal policy.

I also found BoatUS easy to talk to, and understanding about the realities of an old boat. For example I was able to negotiate a temporary process of getting the old girl off of port restriction if I removed the propane tank and did not use my 110 v system long enough for me to bring her home, where I switched to an alcohol stove and redid the 110 v system.

As others have suggested, BoatUS may tell you tha the problem is with your experience owning a boat. I would suggest that you put a resume together showing your experience on boats, and discuss that resume with the agent. Worse comes to worse, you may need to go through a sailing safety course.

Jeff
 
#44 ·
As some others have said the big advantage of BoatUS is that they understand boats.

A local yard with an excellent reputation told me BoatUS is the best of the insurance companies they deal with for exactly that reason.

I'm a little surprised that so many posters only carry minimum coverage. For a few dollars more I was able to add replacement coverage for my electronics and insure my boat for an agreed value -- it has a lot of additions a "typical" boat wouldn't have.

I just wish I could find an auto/homeowners company that provided this kind of service.
 
#45 ·
The other huge advantage of boat US is that they actually pay. I know several people who have made claims and I have personally as well and every single one was paid in a straightforward and timely manner.

I have other friends who have fought tooth and nail over every detail for YEARS with other companies.
 
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