I'm rejected. NEED Insurance

[steffan]

Originally Posted by FernleyE

Latest reason for rejection is the jump in size from previously owned boats. My biggest is the current on at 25'.



Emphasis on, "owned." Apparently have sailed/ raced Larger boats for several years is not relevant

This is one of the reasons why we own our current 34'. We will be upgrading to a 40-44' in a couple of years, and wanted the ownership history. Since we still own a house getting a combo of boat and umbrella liability coverage was pretty easy through our home/auto insurer.

[Buddy_Y]

The latest issue of "Good Old Boat" magazine (May / June 2022) is a theme issue devoted to getting insurance for older boats -- lots of articles and very specific advice.

Wish I had it last year when I was stuck, too. (Here in Canada, I eventually got insurance after weeks of hunting because I engaged a very well known and highly regarded surveyor, who gave me the advice "Go with such-and-such an insurer. I have a relationship with them. I'll call them and tell them your boat is worth a policy.)

[Montanan]

1982, a very old boat, at 40 years young. That is going to make insurance underwriting more difficult to obtain. Perhaps a liability only policy might be available.

If you do find value coverage, be sure to note the depreciation clauses, especially with Geico / BoatUS, as their recent policy change decreases value by 10% per year on boats over 10 years of age, so basically goes to nil.

[peghall]

Try calling a true yacht insurance broker. There are several good ones..these are two of the best.



https://www.gowrie.com/Marine-Insura...atsYachts.aspx

https://www.markelinsurance.com


--Peggie

[JollyR]

Originally Posted by JoeRobertJr

Hi, FernleyE,
I am working out insurance myself, so have been taking notes from the recent insurance challenge threads. It is going to depend on where you are, where you want to use the boat, what kind of insurance you want, and the age of the boat among other things. Also, it is going to require some digital leg work, though maybe you can find a good broker that does the let work for you. Here are my notes, still early in the process:

• Progressive

  6/2/22: Spoke with Dave.
  Progressive insures up to 50’.
  There are hurricane restrictions of 35’ max for some MD zip codes.
  $60K max hull coverage on boats over 20 years old.
  

• Markel

  Two agents in MD.
  Gowrie Group, Annapolis, MD, 800-262-8911, overall good google reviews, though one was scathing about duplicate billing and very high premiums.
  Jack Martin & Associates, Annapolis, MD, 800-497-5804, https://jackmartin.com/, good google reviews.
  6/6/22: Submitted request for quote online, based on ‘81 Mariner 39.
  6/7/22: Received Progressive quote of $1068/year.
  

• American Marine Insurance

  Based out of CA.
  6/6/22: Received quote form to fill out. They also want a copy of the most recent survey.
  

• https://maritimeinsuranceinternational.com/
• Pantaenius
• Edward William and Northern Reef are scams.
• International Waters Insurance Services - Australia only?
• Al Golden at International Marine Insurance Services (IMIS) - Brokers ➥ https://www.cruisersforum.com/forums...lden-1840.html. Expect he's long-retired, but might still offer some useful advice.
• IMIS ➥ https://gowrie.com/Marine-Insurance/...neProgram.aspx
• Chubb
• Bluewateryachtinsurance.net
• ANJO, a Massey company.

  They can not cover any USA navigation, only vessels permanently in the Caribbean.
  

• Club Marine - For Australian boaters
• jackline

Thanks for this. Just did a refit practically caused by GEICO. Would not renew with them ever! Decided to go through a broker with our latest survey.

[sail sfbay]

BoatUS apparently does not insure boats that old. Go to a marine insurance broker. I did that and selected Chubb for my 1984 boat.

[Daziel]

Try Admiralty Insurance. They specialize in marine policies and I have used them for over 20 years. https://admiraltyinsurance.com/

[jmschmidt]

I have liability only for my 1969 built Newport 41" which is required by most all marinas and yacht clubs.

[Dooglas]

Originally Posted by FernleyE

The refusal occurred before I was even able to request any specific coverage.

BoatUS/Geico told you they don't insure boats of that age. A longer discussion with them will not change that. Time to see if you can find another insurer. As suggested above, perhaps one that would issue liability coverage.

[Sailshabby]

Originally Posted by JoeRobertJr

Hi, FernleyE,
I am working out insurance myself, so have been taking notes from the recent insurance challenge threads. It is going to depend on where you are, where you want to use the boat, what kind of insurance you want, and the age of the boat among other things. Also, it is going to require some digital leg work, though maybe you can find a good broker that does the let work for you. Here are my notes, still early in the process:

• Progressive

  6/2/22: Spoke with Dave.
  Progressive insures up to 50’.
  There are hurricane restrictions of 35’ max for some MD zip codes.
  $60K max hull coverage on boats over 20 years old.
  

• Markel

  Two agents in MD.
  Gowrie Group, Annapolis, MD, 800-262-8911, overall good google reviews, though one was scathing about duplicate billing and very high premiums.
  Jack Martin & Associates, Annapolis, MD, 800-497-5804, https://jackmartin.com/, good google reviews.
  6/6/22: Submitted request for quote online, based on ‘81 Mariner 39.
  6/7/22: Received Progressive quote of $1068/year.
  

• American Marine Insurance

  Based out of CA.
  6/6/22: Received quote form to fill out. They also want a copy of the most recent survey.
  

• https://maritimeinsuranceinternational.com/
• Pantaenius
• Edward William and Northern Reef are scams.
• International Waters Insurance Services - Australia only?
• Al Golden at International Marine Insurance Services (IMIS) - Brokers ➥ https://www.cruisersforum.com/forums...lden-1840.html. Expect he's long-retired, but might still offer some useful advice.
• IMIS ➥ https://gowrie.com/Marine-Insurance/...neProgram.aspx
• Chubb
• Bluewateryachtinsurance.net
• ANJO, a Massey company.

  They can not cover any USA navigation, only vessels permanently in the Caribbean.
  

• Club Marine - For Australian boaters
• jackline

Minor edit- Sadly, Al Gooden passed away, but his son is on the job.

[zstine]

Progressive insured my 1975 Tartan 41 (agreed value) without even requiring a survey. I sold the boat in 2020, so they may not insure now.. But worth a try. It was inexpensive as well. $800/yr ish for $40k value I think I paid.

[zstine]

I know the NAIC license insurance companies, but I don't know if your marina requires all boat insurance to be NAIC licensed. If you have access to $300k or $500k (whatever the min your marina req's), What prevents you from registering a Corp and underwriting the insurance on your boat yourself? Assuming you are okay taking the risk. Does it break any laws...? not that I know of but it's not my area.

[blueblaze]

Hi, I am a sailor and insurance agent, if you’d like to email me I maybe able to help. Laurs@Marineimsurance.cc

[blueblaze]

Sorry, Laura@Marineinsurance.cc

[svfinlandia]

Originally Posted by sail sfbay

BoatUS apparently does not insure boats that old. Go to a marine insurance broker. I did that and selected Chubb for my 1984 boat.

This is not an advertisement for BoatUS or Geico.
My boat was built in 1983 and I am still insured with Geico. They just renewed me again this year. Or course the premium went up again as it does every year for probably any insurance company and the hull value was decreased slightly, but I have to say that Geico was very good to me with my last two claims. My boat really got beat up bad in hurricane Florence and I was very pleased with Geico‘s response and service.
Yes, this may not last, but as long as they honor their claims and don’t raise their rates too high I will stay with them.

Al, S/V Finlandia