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I just picked up an old Catalina 22 as a place holder so as not to lose a mooring I just got. Hoping for something better in the future.

Anyway, Geico will not insure anything over 40 years old, this one most certainly is.

Where should I look for liability insurance only for an older boat?

 

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2 minutes ago, bmiller said:

I just picked up an old Catalina 22 as a place holder so as not to lose a mooring I just got. Hoping for something better in the future.

Anyway, Geico will not insure anything over 40 years old, this one most certainly is.

Where should I look for liability insurance only for an older boat?

 

Can you get coverage through your home insurance? That's how I used to cover cheaper boats.

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10 minutes ago, Ishmael said:

Can you get coverage through your home insurance? That's how I used to cover cheaper boats.

I'll try that, thanks.

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Progressive seemed very willing when I needed a policy only to satisfy liabilities (like marina lease). No survey either. Your small boat should be able to ride on a homeowner policy. Check that first.

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Yeah, I just added mine to my home/farm policy. Liability plus "agreed value" replacement for a nominal charge.  Although without a survey, I'm not sure what that value might be. It's possible I gave the amount I bought it for to the agent at the time, but I don't recall.  And though it was less than 40 years old then... now it's over 50. 

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9 hours ago, Borracho said:

Progressive seemed very willing when I needed a policy only to satisfy liabilities (like marina lease). No survey either. Your small boat should be able to ride on a homeowner policy. Check that first.

I have Progressive for my 1972 Ranger 29, they have been great to work with.  I only have liability for that boat though, since if it were to sink it would probably save me money.

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I insured my 50 year old wood boat through State Farm, liability,wreck removel,things needed to get a slip in the Bay Area. Geico through Boat US wouldnt touch it with a stick.

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I've had Geico/Boat US on my boat for the last four years.   Their rates have tripled even though I have made no claims and no significant disaster has occurred in my sailing area (Chesapeake Bay).   So goodbye Geico!

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9 hours ago, SeattleEngineer said:

I have Progressive for my 1972 Ranger 29, they have been great to work with.  I only have liability for that boat though, since if it were to sink it would probably save me money.

I called progressive, she was very helpful and quoted 100 bucks for a year of liability. 

Waiting for a response from my Allstate homeowners policy broker. 

No rush, can't launch until May 15 anyway.

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1 minute ago, bmiller said:

I called progressive, she was very helpful and quoted 100 bucks for a year of liability. After dealing with geico they may get more of my business.

Waiting for a response from my Allstate homeowners policy broker. 

No rush, can't launch until May 15 anyway.

oops, double post/edit.

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Happy with Erie so far.  Haven't had a claim but know a guy who did and they covered.

Read the riders.  

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I've got 500k liability and $5k replacement value for a 1976 SJ24 for about $15o/yr from state farm

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10 hours ago, Baldur said:

I've got 500k liability and $5k replacement value for a 1976 SJ24 for about $15o/yr from state farm

I am surprised by the 500k liability.  Here is Ireland, the minimum 3rd party liability cover for most racing, marinas etc is €3million, and some insurers default to €5m, i.e. ~US$6m. (Some context at https://afloat.ie/resources/marine-industry-news/trade-news/item/35595-craftinsure-to-provide-5m-third-party-cover-as-standard). 

Ireland awards high payouts for personal injuries claims, and has expensive legal processes for settling such claims, so maybe our liabillty cover has to be higher than elsewhere.  But American personal injury lawyers don't exactly have a reputation for low billing, so I wonder if 500k liability cover is enough?

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I got liability for my 1972 Contest 31 for $80 a year from Progressive, online, instantly.  I could have gotten pretty much whatever I wanted, just check it off the list, but that's all I needed for the time being.  It couldn't have been easier.

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Any thoughts on liability insurance for a boat in foreign waters? Currently Panama but planning to cruise elsewhere. 1989 PSC34. Currently uninsured in a tiny marina that does not require it.

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On 4/13/2021 at 3:10 PM, bmiller said:

Anyway, Geico will not insure anything over 40 years old, this one most certainly is.

Huh. Geico insured my '69 Westerly Centaur. Didn't bat an eye at it, other than wanting to argue over the state issued HIN. 'Course, I also quoted them the actual purchase price ($500), and didn't balk at their $320 a year. I'm probably overpaying, but the liability insurance got me into a slip, and that's less money gone than taking a fine lady out to dinner once a month. 

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23 hours ago, TwoLegged said:

I am surprised by the 500k liability.  Here is Ireland, the minimum 3rd party liability cover for most racing, marinas etc is €3million, and some insurers default to €5m, i.e. ~US$6m. (Some context at https://afloat.ie/resources/marine-industry-news/trade-news/item/35595-craftinsure-to-provide-5m-third-party-cover-as-standard). 

Ireland awards high payouts for personal injuries claims, and has expensive legal processes for settling such claims, so maybe our liabillty cover has to be higher than elsewhere.  But American personal injury lawyers don't exactly have a reputation for low billing, so I wonder if 500k liability cover is enough?

500k in liability is what my marina in Socal requires...seems like more than enough for 95% of any accident on a sailboat...but I'm kinda a dinosaur when it comes to accepting personal responsibility.

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18 minutes ago, Crash said:

500k in liability is what my marina in Socal requires...seems like more than enough for 95% of any accident on a sailboat...but I'm kinda a dinosaur when it comes to accepting personal responsibility.

Ah, I'm not trying to give anyone a hard time about this.  I'm not a fan of the whole insurance racket.

I'm just surprised that $500k is considered enough.  You could kill two people within that budget, but if some tragic accident results in a youngster needing round-the-clock care and they are projected to live for the next 40 years, that gets expensive.

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On 4/14/2021 at 10:05 AM, bmiller said:

I called progressive, she was very helpful and quoted 100 bucks for a year of liability. 

Waiting for a response from my Allstate homeowners policy broker. 

No rush, can't launch until May 15 anyway.

Ditto on Progressive. Easy and cheaper across the board than Geico

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  • 2 weeks later...
On 4/16/2021 at 2:40 AM, TwoLegged said:

Ah, I'm not trying to give anyone a hard time about this.  I'm not a fan of the whole insurance racket.

I'm just surprised that $500k is considered enough.  You could kill two people within that budget, but if some tragic accident results in a youngster needing round-the-clock care and they are projected to live for the next 40 years, that gets expensive.

Not a lawyer, but as a businessman I've always thought that over-insuring presents you as a bigger potential target for the scammers. Maybe I'm wrong about that.

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2 hours ago, Israel Hands said:

Not a lawyer, but as a businessman I've always thought that over-insuring presents you as a bigger potential target for the scammers. Maybe I'm wrong about that.

You can eat up some cash in odd ways.
Example: A couple were sailing a Catalina 27 (iirc) in light air north of the Bay Bridge. They saw a tanker coming along from the south, could not start the engine, and in a comedy of errors jumped overboard and instead of swimming about a mile or less west to the beach swam about 4 miles the other way to Kent Island. Meanwhile the tanker turned west, hit their boat a glancing blow that did little damage, and then got stuck on the sandbar at Sandy Point.

The Catalina swimming skipper got a bill for about $350,000 from the tanker's owner for the cost to hire a tug to come pull them off and the cost to have the hull inspected :o

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6 hours ago, Israel Hands said:

Not a lawyer, but as a businessman I've always thought that over-insuring presents you as a bigger potential target for the scammers. Maybe I'm wrong about that.

If you assume that scammers know the details of your insurance policy, this may be a genuine worry.  But I am not sure why one would advertise those details.

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As documented in other threads, GEICO places serious restrictions on what repairs they will pay for on older boats- you could have a perfectly restored, gold plated vessel, but if the hull is old, they bottom out at paying 20% of repair costs. Though 100% of agreed value if lost completely. It's a declining scale- need to read teh policy. 

For a less expensive boat, homeowner's (or an umbrella policy) will often cover liability, and damage/ loss up to some value. I insure my 50 year old cold molded wood boat through State Farm for a fraction of what GEICO wanted, with much better coverage. 

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