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Discussion Starter · #1 ·
Does anyone know who will insure the older boats?

So I've graduated from researching the next boat to actively seeking, and have researched insurance on a few. I wanted to share my finding so far, hopefully to someone's benefit.

So I've spoken to Boat US/Geico, Progressive, Allstate, and USAA/Progressive about quotes for three boats that would reside in Florida (rules seem to vary state to state):
1975 Whitby 42, 1981 Whitby 42, and a 1988 Tayana Vancouver 42.

-Boat US will not insure a boat over 40 years old, or a boat over 30 years old over 40 feet. (No liability either). My 1976 boat that they currently insure is grandfathered so long as the policy doesn't lapse.
-All State had the same limitations as Boat US
-Progressive will not insure a boat over 35' in Florida's hurricane prone zip codes. They would not disclose the non-prone zip codes, but I suspect that none of them touch the water.
-USAA/Progressive is willing to insure all three at what I think are pretty reasonable rates, but they cap agreed upon value at $60k.
-One of the agents suggested bringing a boat in under an 'umbrella' policy. I haven't dug into that idea.

Still looking for options. Future sailing plans are not limited to Florida, so I'd be interested in hearing of any insurance solutions.
 

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bell ringer
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6,031 Posts
-USAA/Progressive is willing to insure all three at what I think are pretty reasonable rates, but they cap agreed upon value at $60k.
I had to lower my value to the $60k, but I did it.

Is your 40 year old boat really to be more?

You should just turn your search over to an insurance agent and let them run it down.
 

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Old soul
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I'm in a different insurance market (Canada, east coast), but I ran into the same issue a couple of years ago. I basically got dumped by my broker when they switched primary underwriters. Long story short, my new broker finally found me an underwriter that would offer comprehensive coverage (hull & liability), but this underwriter is not one of the standard marine insurance companies. It is a specialty risk insurer.

My policy is very similar to my previous ones. All the normal coverages, with the same limitations, but at a rate that is lower than my previous underwriter. So perhaps you can ask your broker to look into these underwriters. I assume they exist everywhere.
 

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bell ringer
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Some of the asking prices are well above that, of course who knows where the price will land. If you have a boat insurance agent in Florida to recommend, I'll call them.
I don't as I gave up and got the USAA/Progressive. The asking price has nothing to do with anything, my boat is worth more than it is insured for.
 

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‘77 Pearson 10m
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I insured my ‘77Pearson 10 meter with State Farm in Maryland last November and got a fantastic annual premium. They wanted a survey but didn’t require any specific repairs from the survey.
 

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I insured my ‘77Pearson 10 meter with State Farm in Maryland last November and got a fantastic annual premium. They wanted a survey but didn’t require any specific repairs from the survey.
State Farm has given me no problem with insuring my boats. Although they did call me a few years ago and regretfully explain that they had to raise my rate a few percent because "they thought a Catalina was a powerboat" when they wrote the policy.
 

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Old soul
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State Farm has given me no problem with insuring my boats. Although they did call me a few years ago and regretfully explain that they had to raise my rate a few percent because "they thought a Catalina was a powerboat" when they wrote the policy.
A sailboat is considered a higher risk than an equivalent powerboat? That makes no sense based on any data I've ever seen.
 

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Freedom isn't free
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I recently called my insurance company on my 1983 boat 39 years old close enough?
I had to up my liability insurance per our local racing requirements from $100,000 coverage to $300,000 coverage.

I was so regretting it. Cost me $17 more a year.
Yes they know I am racing.
 

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I have been struggling with boat insurance myself. Things get yet more difficult when you travel internationally.

Right now I am with Markel in their Jackline program. But that has also been a struggle, in part because of the sloppy work by the middleman agent.

When shopping around I cane across an agent who has 19 years experience and was most helpful explaining some of reasons for difficulties from the insurers side. If I ever leave Markel she will he the first person I call.

She posts on Cruisers Forum as Tabby Cat.

That is all the help I can offer, to point to someone who is smarter than me.
 

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We use Travelers Ins through an agent. I've no idea if they have special rules for >30 year old boats though. We're in Maryland, USA and so I'm not sure if they are in Florida or not. Thought I'd throw it out there in case it helps someone.
 

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Learning the HARD way...
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My policy on my 35 year old (1986) 35-foot boat is handled through the Gowrie Group, an independent broker. Two years ago they had me insured through Geico, but Geico stopped working through agents a year ago. I realized the value of the broker when discrepancies were found in the HIN and my driver's license as reflected in the policy - Gowrie Group straightened the issues out between themselves and Geico without any hassle for me.

This came to a head when I had a grounding, which resulted in a damaged rudder, while bringing my boat to Florida in the fall of 2020. The claim was for a 5 hour tow through the bayous of Georgia, and a two day stay at a marina that seemed like the set for Deliverance, and a new rudder installation once I brought the boat to Fort Myers. The total came to over $6k, plus towing! Geico paid the entire claim with no hassle.

Unfortunately, because Geico discontinued working with agents, Gowrie had to find me another insurer. Gowrie found me a similar policy through Progressive. I have had no claims through Progressive.
 
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