Liability-only insurance for a 1979 Morgan 461 sailboat...

[skipgundlach]

Liability-only insurance for a 1979 Morgan 461 sailboat...



We've just started looking, and are finding issues with obtaining the insurance that our (and many other, but so far it's not stymied us in our travels, but is now an issue at Vero Beach City Marina) current mooring demands.



We have been self-insured for over 14 years, and don't have any interest in property/gear/whatever-loss insurance. Just liability to cover us if our boat somehow is responsible for damage to anything else.



We've lived aboard for that entire time, and we're learning that we really need to represent ourselves as users, not live-aboarders, and we'll sort out a "home" mailing address in FL, but:



Who's had the same problem, and how/with-whom did you solve it?



Thanks!



L8R



Skip



Morgan 461 #2

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[thomm225]

I have $500,000 worth of liability insurance on my 1974 Bristol 27 that my marina requires.

It's about $10.00/month through State Farm.

[Bill O]

If this is for stateside insurance, will agree w/Thomm to go w/ a home owners type of insurance company. Allstate, State Farm, etc. and usually low rates.

[pcmm]

The hardest part about getting liability only insurance is the age and size of your boat. Don't be surprised if a survey is requested. We're running into that now where our insurance company wants a survey to continue with liability only coverage(this is the second company that's requested this. One previously wanted BOTH and in water and an out of water full survey). We also run with liability only insurance. Standard $2m coverage is running around $400 per year. Home-owners based companies won't work as they don't seem to want to cover anything over 20ft or 20 years old. (Been there, tried that)

[CoryW]

Highseaslowrates.com specializes in Florida boat insurance! Your Morgan 461 should not ne an issue.

[mvmojo]

Many marinas require liability insurance. First thing is to find out how much they require. The minimum is $100K but a lot of marinas have gone to $300K. Progressive used to write a lot of liability only policies for a very reasonable price - $100 to $150 per year. I've been out of the marina business for a while so I don't know if they're still writing them, but they were typically the least expensive.

[Capt ScubaDave]

I’ve gotten total boat insurance through State Farm for my Allmand31 and Island Packet27, but it is through their Fire and Casualty Division, though I buy through my State Farm home and car agent. Another policy I have is a $1 Million Umbrella Policy that, by itself, is plenty and been acceptable by all marinas I’ve stayed in the last couple of years.

Good luck!

Capt ScubaDave

[TCL]

Skip -

I've not gone to liability-only yet on my 1979 Morgan 461, but thought about it. I currently have both liability and hull replacement coverage through Geico Marine (through independent agent Gowrie Group), but received a notice from Gowrie in June that Geico "has decided to stop issuing and renewing boat insurance policies through all independent insurance agents across the nation." It is unclear to me whether this means that I will still be able to get insurance from Geico directly through BoatUS. Gowrie also supposedly is working on securing an alternative (I've purchased through them the past four years, starting with a Lloyds policy, then Geico when Lloyds dropped coverage in the States). My renewal date is January 2022, so I'll be interested to hear what you find. I know this probably isn't helpful to you (sorry), but by way of saying please post an update when you find a solution/make a decision. Thanks

[The Way]

Originally Posted by pcmm

The hardest part about getting liability only insurance is the age and size of your boat. Don't be surprised if a survey is requested. We're running into that now where our insurance company wants a survey to continue with liability only coverage(this is the second company that's requested this. One previously wanted BOTH and in water and an out of water full survey). We also run with liability only insurance. Standard $2m coverage is running around $400 per year. Home-owners based companies won't work as they don't seem to want to cover anything over 20ft or 20 years old. (Been there, tried that)

Hi! Where did you find such a good rate? I was quoted $2,000/year on my 1972 36-foot ketch, for $1 million liability-only.

Thanks for any info, and fair winds,
Jack

[jmschmidt]

I've not had any problem with State Farm for domestic liability only on our 1969 built Newport 41. Our yacht club and just about every other club and marina in the country, if not the world, now require this. Liability coverage including salvage cost is even required to enter the territorial waters of many foreign countries. I doubt if State Farm could handle international coverage but there are several companies that can.

[Mike OReilly]

Originally Posted by The Way

Hi! Where did you find such a good rate? I was quoted $2,000/year on my 1972 36-foot ketch, for $1 million liability-only.

Thanks for any info, and fair winds,
Jack

Insurance rates are very much dependent on location. Based in the Maritimes I've managed to find comprehensive coverage for $439. That includes the Canadian standard of $2M in liability.

[Hudson Force]

Though I sold my Morgan in 2017 I had no difficulty obtaining the 300K liability only insurance that I kept for many years. At one time when I was questioned about the age and condition of my vessel, I sent a photo taken across my cockpit with one of my children holding up the front page of the current USA Today newspaper. This helped reassure them of the condition of my boat.

[The Way]

Originally Posted by Mike OReilly

Insurance rates are very much dependent on location. Based in the Maritimes I've managed to find comprehensive coverage for $439. That includes the Canadian standard of $2M in liability.

Thanks, Mike,

That explains it. I'm in Florida :-(

Fair winds,
Jack

[skipgundlach]

Originally Posted by TCL

Skip -

I've not gone to liability-only yet on my 1979 Morgan 461, but thought about it. I currently have both liability and hull replacement coverage through Geico Marine (through independent agent Gowrie Group), but received a notice from Gowrie in June that Geico "has decided to stop issuing and renewing boat insurance policies through all independent insurance agents across the nation." It is unclear to me whether this means that I will still be able to get insurance from Geico directly through BoatUS. Gowrie also supposedly is working on securing an alternative (I've purchased through them the past four years, starting with a Lloyds policy, then Geico when Lloyds dropped coverage in the States). My renewal date is January 2022, so I'll be interested to hear what you find. I know this probably isn't helpful to you (sorry), but by way of saying please post an update when you find a solution/make a decision. Thanks

Thanks for the update and info.

Gowrie turned me down based on the age (we're M461-002, so the first 79-model run in August 78), and hasn't made any suggestions as to a solution.

Meanwhile, are you on Facebook? There's a Morgan 46 Sailboats page on which I don't think I've seen you; there's a database of M46x of which I'm currently the only 461 (at last look, anyway) despite there being more of us in the group.

And, I'll post solutions to all the places in the hive mind I've asked the same question.

So far it's "go to State Farm, Allstate, or the like". I have to call back my Progressive agent (who finally returned my call after being closed for the holiday when I called on July 17 (what holiday??)) this morning...

[Bill O]

Originally Posted by skipgundlach

So far it's "go to State Farm, Allstate, or the like". I have to call back my Progressive agent (who finally returned my call after being closed for the holiday when I called on July 17 (what holiday??)) this morning...

Would call/email them all for a quote to see which ones have competitive rates and want your business. Doesn't sound like Progressive lives up to their name.

Geico/Boat US would be the last I would call. Too many extra hoops to jump through to have the privilege of paying higher rates.

The only time you know an insurance company is good or bad is when you need to make a claim. In this case, it's only liability to meet the marina requirements and good to have in the US w/too many litigious people. You'll probably never need it.