Dave G.
1984 E30+ Ludington, MI
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.
INSURANCE (Combined threads)
Prairie Schooner
Jeff & Donna, E35-3 purchased 7/21
Maybe this is what you're talking about, Dave, but our yard also wants $1M environmental cleanup coverage.
Dave G.
1984 E30+ Ludington, MI
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.
As I understand it, lawsuits for oil-spill cleanup can create very high costs, hence coverage requirements. My policy:
That's standard issue Geico, I didn't ask for it.
That's standard issue Geico, I didn't ask for it.
RedDog
Member II
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.
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?)
(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
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