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

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest > General Discussion (sailing related)
 Not a Member? 


Like Tree13Likes
Reply
 
LinkBack Thread Tools
  #1  
Old 06-15-2012
Junior Member
 
Join Date: Jun 2012
Posts: 3
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
mndieck is on a distinguished road
Help- New owner of 40ft old sailboat, can't get insurance

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.
Reply With Quote Quick reply to this message Share with Facebook
  #2  
Old 06-15-2012
deniseO30's Avatar
1934 Chickering
 
Join Date: Nov 2006
Location: Bristol pa
Posts: 6,354
Thanks: 52
Thanked 101 Times in 91 Posts
Rep Power: 10
deniseO30 will become famous soon enough deniseO30 will become famous soon enough
Re: Help- New owner of 40ft old sailboat, can't get insurance

oh dear...
casey1999 likes this.
__________________
Denise, Bristol PA, Oday 30. On Tidal Delaware River, Anchor Yacht Club. New Website!
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

My boat is for sale.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Quick reply to this message Share with Facebook
  #3  
Old 06-15-2012
Senior Member
 
Join Date: Jul 2011
Posts: 130
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 4
Allen-deckard is on a distinguished road
Just currious but whats the magic number in length or have they given you one or have you asked? Or does anyone else know? And what do they consider inexperienced?

I ask because me and my wife are considering something in the 36ft range own a catalina 22 for a couple of years now and dont plan on buying for another couple years. Havent gotten to the point of checking on insurance yet on a new boat so this story makes me a bit nervious.
Reply With Quote Quick reply to this message Share with Facebook
  #4  
Old 06-15-2012
deniseO30's Avatar
1934 Chickering
 
Join Date: Nov 2006
Location: Bristol pa
Posts: 6,354
Thanks: 52
Thanked 101 Times in 91 Posts
Rep Power: 10
deniseO30 will become famous soon enough deniseO30 will become famous soon enough
Re: Help- New owner of 40ft old sailboat, can't get insurance

my guess is the PO's insurance already paid out the loss and it's listed as sunk. I've no idea what you should do really.
__________________
Denise, Bristol PA, Oday 30. On Tidal Delaware River, Anchor Yacht Club. New Website!
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

My boat is for sale.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Quick reply to this message Share with Facebook
  #5  
Old 06-15-2012
hellosailor's Avatar
Senior Member
 
Join Date: Apr 2006
Posts: 10,899
Thanks: 2
Thanked 103 Times in 100 Posts
Rep Power: 10
hellosailor has a spectacular aura about hellosailor has a spectacular aura about
Re: Help- New owner of 40ft old sailboat, can't get insurance

It is more than 30 years old, so many insurers won't take it on as a new policy.
It is more than ~30' long, so many insurers who deal primarily in cars and homes won't take it on.
You're a new owner with limited credentials and no past ownership of a similar vessel, so again many insurers won't take it on.
And the boat may not pass a survey--so MOST insurers won't take it on in any case.

It may not be feasible but in some states you can post a bond in lieu of liability insurance on a motor vehicle, you might ask your state insurance department. Meanwhile, you need to make it a priority that the boat can and will pass a survey 100% and as soon as possible.

If there is a local USCG Aux or Power Squadron, you might ask them about membership and insurance, members often get a discount. Getting credentials (ASA tests, etc.) may help you. Or try IMIS, IMIS Home Page ~ International Marine Insurance Services they're professionals and can probably put you with some legitimate carrier, or tell you what has to be done to qualify for one.
HDChopper likes this.
Reply With Quote Quick reply to this message Share with Facebook
  #6  
Old 06-15-2012
Member
 
Join Date: Apr 2011
Location: Charleston
Posts: 85
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 4
b40Ibis is on a distinguished road
Re: Help- New owner of 40ft old sailboat, can't get insurance

They will not insure the boat b/c it is not worth anything. You will have to moor the boat or go on the hard to make repairs.
Reply With Quote Quick reply to this message Share with Facebook
  #7  
Old 06-15-2012
sevseasail's Avatar
Senior Member
 
Join Date: Jan 2007
Location: Atlanta, Ga
Posts: 179
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 8
sevseasail is on a distinguished road
Re: Help- New owner of 40ft old sailboat, can't get insurance

It's common knowledge that Lloyds of London will insure anything for almost anybody; it's all about the premiums....

Lloyd's
SloopJonB likes this.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

S/V Chata
1980 Catalina 22

"Common sense is the least common of the senses"

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Quick reply to this message Share with Facebook
  #8  
Old 06-15-2012
sevseasail's Avatar
Senior Member
 
Join Date: Jan 2007
Location: Atlanta, Ga
Posts: 179
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 8
sevseasail is on a distinguished road
Re: Help- New owner of 40ft old sailboat, can't get insurance

Quote:
Originally Posted by b40Ibis View Post
They will not insure the boat b/c it is not worth anything. You will have to moor the boat or go on the hard to make repairs.
You can still insure for an "agreed hull value"; again, it's all about the premium.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

S/V Chata
1980 Catalina 22

"Common sense is the least common of the senses"

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Quick reply to this message Share with Facebook
  #9  
Old 06-15-2012
Senior Member
 
Join Date: Jul 2011
Posts: 130
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 4
Allen-deckard is on a distinguished road
But if he's only asking for liability whats it matter what the boat worth is? There not gonna pay out on the boat no matter what there only gonna pay out on damages to other boats you hit or damage. While that still takes into account experience and boat size the worth shouldnt matter I wouln't think.
Flybyknight likes this.
Reply With Quote Quick reply to this message Share with Facebook
  #10  
Old 06-15-2012
nauticalrich's Avatar
Senior Member
 
Join Date: Aug 2001
Posts: 196
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 14
nauticalrich is on a distinguished road
Re: Help- New owner of 40ft old sailboat, can't get insurance

Boat US through West Marine?
__________________
nauticalrich
1985 31 Oday
Bridgeport, CT
Reply With Quote Quick reply to this message Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now

In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Sailboat Insurance BoatKid5 General Discussion (sailing related) 8 12-04-2009 11:22 PM
New Sailboat owner... AuthenticSoul Introduce Yourself 7 11-08-2008 11:06 AM
Sailboat Insurance PTPierce General Discussion (sailing related) 7 01-29-2006 10:01 PM
First Big (30-40ft) Boat. Introduction etc. Colinkites2000 Boat Review and Purchase Forum 3 04-06-2004 06:08 AM


All times are GMT -4. The time now is 11:47 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.