• Untitled Document

    Join us on March 29rd, 7pm EST

    for the CBEC Virtual Meeting

    All EYO members and followers are welcome to join the fun and get to know the guest speaker!

    See the link below for login credentials and join us!

    March Meeting Info

    (dismiss this notice by hitting 'X', upper right)

INSURANCE (Combined threads)

Prairie Schooner

Jeff & Donna, E35-3 purchased 7/21
You should be able to get liability insurance regardless of the age of the boat no ? That's all a marina or yard needs for insurance is the liability coverage.
Maybe this is what you're talking about, Dave, but our yard also wants $1M environmental cleanup coverage.
 

Dave G.

1984 E30+ Ludington, MI
but our yard also wants $1M environmental cleanup coverage.
Wow, that seems extreme. It would be hard for any one boat/owner to cause an environmental event any where near that number. I have $1m in liability coverage which I would guess would cover any related damages caused by me or my boat but no specific coverage for environmental cleanup.
 

Christian Williams

E381 - Los Angeles
Senior Moderator
Blogs Author
As I understand it, lawsuits for oil-spill cleanup can create very high costs, hence coverage requirements. My policy:

Capture fuel.JPG

That's standard issue Geico, I didn't ask for it.
 

RedDog

Member II
You should be able to get liability insurance regardless of the age of the boat no ? That's all a marina or yard needs for insurance is the liability coverage.
Yes. theoretically:) But....Geico, Progressive, Hagerty, all said no for a 51 year old Ericson.
 

Tooluser

Flǎneur
For what it's worth, Geico was willing to raise my 'agreed' value when I called and said I didn't ... agree. The agent said they would insure my '85 E38 up to something like $59900 if I wished. I didn't wish, and went for the surveyor's value. Their initial number was ~28k. Moving it to 48k added $100 or so to the annual premium, $1200/yr.
 

Loren Beach

O34 - Portland, OR
Senior Moderator
Blogs Author
If I understand accurately, you pay roughly $41. per thousand $ of agreed value on the boat? I wonder how that compares to what others here are paying?
(or is my simple math not simple enough for me?) :)
 

p.gazibara

Member III
We are going through getting insurance now (didn’t carry it while cruising unless required by the country we were visiting).
What we found in NZ:
No insurer here will offer us 3rd party liability coverage on a boat flagged US and/or over 30 years old.

Third party liability is required to enter a marina or haul out.

The marinas will offer temp 3rd party liability cover at a substantial markup.

So we paid the man, hauled and watched them spray 1/3 of my antifouling off so an inspector could see that the hull is sound and charge me $1000 on top of the $400 lift/hold.

The quotes I am getting now for comprehensive coverage are around $800NZ.

What a racket.

-p
 
Top