Need insurance recommends on older boat in FL for GA resident

[flightlead404]

Hi

I'm running into some issues getting some insurance quotes on a boat I'm trying to purchase and looking for some recomendations.

The boat is a 38' 1984 Morgan, around $35k.

I live in GA and will dock the boat (for the time being at least) in FL.

I'm getting turned down for both the boats age, and that I'll be an "absentee owner".

Any recommendations on where to go to insure this vessel?

Thanks!

[Bill O]

Not uncommon for you to get turned down for a boat that is 36 yo.

Do a search on CF as I recall a fairly recent thread discussing insurance issues.

Could just do liability or check w/Allstate or other insurance types like these for fuller coverage.

Depending on how you will use the boat, I believe Allstate covers up to 200 mi. offshore (coastal US waters).

[flightlead404]

I'd be happy with liability only tbh, but apparently that isn't an option either...grrrrr

Will check with allstate, thanks

[gonesail]

I went with Boat US for my 30 year old boat. They do online quotes. I live in GA but keep the boat in North Florida. Surprised they turned you down .. are you looking for comprehensive insurance or liability?

[Nahbrown]

Geico has been great for US sailing but doesn’t allow you to go to the Bahamas or Caribbean for longer than 4 months.

[flightlead404]

Originally Posted by gonesail

I went with Boat US for my 30 year old boat. They do online quotes. I live in GA but keep the boat in North Florida. Surprised they turned you down .. are you looking for comprehensive insurance or liability?

Either would be fine. I tried their online quote, I'll just call them. Sounds like you're in the same boat lol as me

Originally Posted by Nahbrown

Geico has been great for US sailing but doesn’t allow you to go to the Bahamas or Caribbean for longer than 4 months.

They turned me down, I think because of absentee ownership.

[nightowle]

Call Peter Ricks at Novamar in the Seattle office. They have offices around the country and internationally. But Peter knows his stuff on quirky needs: (206) 281-8144

Novamar is a reputable marine ins broker, so they know where to place the business. The commission is paid to them by the carrier.

[MJH]

Originally Posted by flightlead404

Hi

I'm running into some issues getting some insurance quotes on a boat I'm trying to purchase and looking for some recomendations.

The boat is a 38' 1984 Morgan, around $35k.

I live in GA and will dock the boat (for the time being at least) in FL.

I'm getting turned down for both the boats age, and that I'll be an "absentee owner".

Any recommendations on where to go to insure this vessel?

Thanks!

Try your home or auto insurance carrier for a boat policy quote. If nothing else it would be good for a comparison.

~ ~ _/) ~ ~ MJH

[Scubaseas]

I have a 35YO and a 40YO boat. Both are insured with Progressive.

[zstine]

i insured my 1975 Tartan through Progressive. I live in NJ, boat in RI no issue. they didn't even ask for a survey. it was a $37k agreed value and was ~$800/yr. price drops every year without a claim.

[Dave22q]

My boat is older than your GEICO is no problem. Depreciation is an issue but anything that you can document time of replacement can be covered. Their service is good.

[marshmat]

Our yacht is 45 years old and we, like many others, found that a lot of insurers just aren't interested in boats in general, or at least aren't interested in boats more than 10-20 years old, or are willing to quote something from their head office's standard catalog but don't really understand what a cruiser needs.


We ended up just talking to one of the well-established local independent insurance brokers, who called around and found a carrier (April Marine) that was happy to quote us a good policy.


Pretty much all the carriers will look at the most recent survey report. If it's more than a few years old, they'll want a new one. If it lists any recommended repairs, they'll want evidence that the repairs have been completed before they'll cover the boat "afloat and navigable".


There is usually zero point in skipping comprehensive coverage, even if the option to do so exists. The cost of comprehensive premiums on a sub-$50k boat is a single-digit percentage of the total cost of a policy that adequately covers the $2m liability, wreck removal, etc. that you must have to be allowed into most marinas.


Being an absentee owner might be an issue for many carriers. You may need to provide evidence that you've arranged a contract for somebody local to check on the boat at set intervals when you're out of state.

[jjt5795]

My 47 yo boat is insured through Progressive. Love my agent Russell @ Atlass Insurance in Cocoa Beach

[flightlead404]

Progressive won't touch it, and nationwide won't either. BoatUS/Geico gave me a second response which is a thumbs up now, idk why that changed, maybe a miscommunication.

I will check out some of the other recommendations, its nice to have choices

[taylormobile]

Try Markel Insurance. Watch for terms that discuss depreciation if you get hull insurance. If you get hull insurance make sure the hull value is defined. Make sure the rigging is not excluded. they will probably need a rigging survey to get coverage for rigging. Make sure the surveyor is approved by the insurance company before you hire.

good luck

Steve