Boat Insurance?

[Docpal]

To All,

    I'm in the process of tarting up Petunia so we can make the run up to Olympia,WA for the Salish 100.

    I just called Boat US/Geico  to inquire about boat insurance for when she is re-patriated, and I was told that they no longer offer hull insurance to ply/epoxy boats !!!  Is this really true, have I been out of the country that long, or did I just get someone having a bad day? I've already had one marina ask me for insurance documents online.

     Has anyone else been told anything similar?

TIA for any info,

  Docpal

 

 

[Andy B]

Here's a rundown from a recent Small Craft Advisor article on the subject:

 

https://smallcraftadvisor.substack.com/p/wooden-or-home-built-boat-insurance?utm_source=%2Fsearch%2Finsurance&utm_medium=reader2

 

I'm not sure whether you need to be a SCA subscriber to read.

[PadrePoint]

My American Family Insurance agent obtained coverage for my three home built boats. Under $100 / year each. 

[Docpal]

Andy,

 Thanks! You DO need to subscribe, and so I did. This will let me start the process......

[Docpal]

Padre Point,

 Thanks, but since my US address/habitat is also uninsurable (another owner  built cabin  in fire country...) that's not an option at the moment...

[Andy B]

Has anyone looked into just marine liability insurance?  Looking at prices of the vast majority of home-built wooden boats, the replacement insurance is the least concern.  I need more liability insurance and towing/salvage coverage.  I've seen some marine liability agencies online but I'm wondering if anyone has used them.

[Frank Hagan]

4 hours ago, Andy B said:

Has anyone looked into just marine liability insurance?  Looking at prices of the vast majority of home-built wooden boats, the replacement insurance is the least concern.  I need more liability insurance and towing/salvage coverage.  I've seen some marine liability agencies online but I'm wondering if anyone has used them.

 

I had BoatUS insurance on my boat. You can get liability only, current value, and replacement value for the hull. I just had the liability only coverage and added on water boat towing since my local harbor was one of their service areas. They include salvage coverage and fines from spilled fuel (an unexpected cost if your boat sinks along with your outboard).

 

I don't recall if it included coverage while I was towing my boat. I think I added that coverage through my auto insurance but I don't recall. I remember checking my homeowner's policy and it only covered boats from damage while stored on the property, not liability on the water.

 

I never had the misfortune of having to make a claim, so I don't know how well they do.

[Docpal]

 

 

Report to date-

So far, from the list in the SCA article mentioned above;

From Heritage marine:

"Unfortunately, we do not have a market for owner constructed vessels. Sorry we could not assist."

Lyle Marine- only insures boats in the Mid West

Haggerty Insurance-  wants my resumé , and complete marine history before officially offering me a policy for $547 annually, ( which might mean it's cheaper to buy a dinghy and anchor out at the marina in question and row in...)

I'm still waiting for a few more responses, and will post them as they arrive.

And yet when I look at SCA and other boating magazines ,"kits" are advertised everywhere...

 

[Randy Jones]

I have boat liability coverage through Farmers for $50 a year.   It is added to my Home insurance but you might see if they'll sell it separately.  Coverage is not particularly good but I believe it meets marina requirements for transient moorage and anticipate my umbrella policy would cover anything really ugly.   

Maybe you can add boat coverage to your auto insurance.

Good luck.   

[Jknight611]

I have tried with limited success on insurance on my 2 “homemade “ boats.  I finally ask can you just insure it while on the trailer, in transit. I ask the agent to not think of it as a boat,  just as cargo on a trailer or a rv.  I am much more concerned with Buffy in her SUV torpedoing the boat while she is engaged on her cell phone than I am while sailing.  They weren’t particularly interested, but did write a binder which was rejected by their mothership.  I do have marginal insurance to satisfy the marina, kinda like feel good insurance, and almost only on certain phases of the moon.  (Named storm, space junk not included )  Very frustrating….. 

[Don Silsbe]

Farmers Insurance has provided us with both liability and replacement insurance on my “homemade boat” (as it appears on the policy), along with the motor and trailer.  No inspection was required.  It costs about $150/year