Insurance for older boats

[jkm]

All

I just got a notice that my insurer, Zurich Insurance Company, is bailing from the business.

Any recommendations from those of you with boats from the 70's?

John

 

[Loren Beach]

http://www.ericsonyachts.org/infoexchange/showthread.php?t=6892&highlight=boatUS

This is one of many threads that touches on age-related insurance issues. I suggest some searching on the site (as well as other cruising forums around the 'net, in general).

What with the hay day of boat building in the mid-70's, this issue is going to be front-and-center for thousands of boaters.

If you find other applicable threads, please add their links here. Our boat is getting older, too!

Regards,
Loren

 

[gizmogjm]

Insure older boats

I just bought a 1974 E 27 and called Progressive Ins. They gave me full coverage at a very good price and no survey and no problems. Gary Mayfield

 

[TRMN8R]

When I purchased my '78 E27 last year, because of the age, and the purchase price, I was able to just add it to my homeowners policy per my insurance agent. I'm paying around $170 per year!! He also handles my truck, motorcycle, and business insurance, but this was his best guidance........hope this helps!

 

[gulfcoaster]

We have owned our 32-3 for 9 years. Seahorse would not renew after Rita even though we suffered no damage and filed no claims. Last year National Marine Underwriters would not renew after a direct hit from Ike. Once again we suffered no damage and filed no claims. We applied to Progressive and they accepted our application on-line and were approved almost immediately. We are praying for a quiet hurricane season this year. Not one marina here in Galveston Bay has begun repairs as yet because the insurance companies involved are still sitting on their $$$. We have damaged docks no ramps to floating docks..... Hurricane season starts in 22 days.....

 

[tenders]

USAA (which in order to work with you need a family military connection) insures my '69 E32 here in New York State but does so along with my automobile and home policies. I'm not sure they'd do it on a standalone basis. I believe the policy is about $300 a year and they required a survey before agreeing to insure it 10 years ago. I've never filed a claim.

By the way, if your neighbors at the marina or yacht club cannot offer advice, an insurance broker can help you find companies that will handle your boat for you.

 

[CaptDan]

I was able to just add it to my homeowners policy per my insurance agent. I'm paying around $170 per year!! He also handles my truck, motorcycle, and business insurance, but this was his best guidance........hope this helps!

We did the same thing last year with Pemco - a Washington State carrier. The 'Mariner's policy was added to our auto/home coverage; agreed value for our '77 E35II: $25K. Full hull/liability/medical coverage with some elected exclusions: $205 annually; discount for licensed (safety course) mariner, good FICO score, driving record, etc. No survey required.

Downside: Pemco only writes policies in Washington. We're planning a relocation, and having secured a slip, I needed liability/additionally insured coverage. Obtained it hassle-free on the internet from Progressive. Liability only, with good FICO/homeowner's discount: $88 annually.

Generally speaking, Progressive is arguably one of the best bets these days. Though I've never (knock on fiberglass) had a claim, and can't speak to their remuneration services, I wouldn't hesitate to recommend 'em.

Not affiliated with any company, and your knot speed might vary.

Capt Dan G>E35II "Kunu"

 

[Rhynie]

John,
I would also recommend that you take a look at Progressive. You can deal with them online. I am in the Katrina/Rita area and had no issues with them at all. Very reasonable rates; they do cap the max coverage, but typically not an issue with older boats.

 

[Brisdon]

I have my 35-2 with Mariners insurance in New Port Beach. They had me on Zurich, but switched to Travelers after Zurich stopped underwriting boats. I'm not getting any kind of a great deal, but it is an agreed value policy.

 

[jkm]

What great advice.

I never thought of Progressive, my homeowners, or business insurers.

I've got no claims record on anything, excellent fico and driving record (I think my three DUI's have dropped by now).

Seriously thanks alot for the replies. I still have four months with Zurich, but wanted a jump on options. I hate to wait around for my broker to find me another carrier-better safe than sorry.

Season has started out here, weather is fabulous. Thanks all.

John

 

[FullTilt E28]

Have two boats with my local statefarm agent though check the rules regarding offshore distances. Some may not cover a trip to Catalina island.