Machine 3

Hi All!! am new here and to the boating scene, I have always loved go fast boasts since a young age, now I have an opportunity to finally purchase an older, affordable Scarab. The boat in question is a late 70's 38' raised deck Scarab. I can not seem to find anyone to insure the boat as it is over 30 years old and considered a performance boat.

I have contacted both the agents that advertise on this forum and struck out on both, even the referrals turned me down due to age and it being a "performance boat"

A local broker told me that I should tell the insurance companies that it is not a performance boat but rather a "cruiser" the broker told me not to use the name Scarab when I talk to perspective carriers but rather just tell them it is a 38" wellcraft cruiser. Has anyone else done this and what are the implications if i ever need to file a claim?

What are the people that own older Scarabs doing for insurance?

Thanks in advance for any advice.

cigboat1

First of all I do not know how old you are ,What your driving record is like,what kind of credit rating you have,if you have any coast guard certificates or safe boating classes you have taken or your experience with boats at all in general....I am not being nosey --- simply making a point that any one of those things can eliminate you from getting insured.
It may simply be that the boat is too old and they do not want to take a chance on it or you. No slam intended!.. You might contact a company that insures old boats or antiques ,Again no slam intended..
Above all do not Lie to anyone about the boat--- It will come back to haunt you in the end.The advise your getting is all bad and do not listen to that crap!That is just my take on things and I may be wrong.
Keep looking and maybe you will have some luck.

Jim

Machine 3

thanks for the advice, to make things clear, I am 45 yrs old, have a perfect driving record, good credit rating (low 700's) no accidents or insurance losses in the last 10 years. I previously owned a boat about 15 years ago but currently have no recent boat ownership or certifications. My record/experience was not a factor from any company, all said that the boat was too old for them to write, the one company that would have no longer insures in my state. I did call back to 2 companies and changed the year of the boat just to see if the age was a problem and both quoted me based on an '83 model year of the same model boat. So I am wondering what people do when they own a 30 year old or older boat.....

I did just get off the phone with another broker that assured me that he would get me coverage and will have quotes for me tomorrow, so I guess we will see what that brings.

I own my own business (landscape contractor) and my business carrier advised me to make the boat an asset of the company and register it to the company and they will write it..... but I do not really feel comfortable doing that.

To be extra clear.... I have never lied or deceived an Insurance company and nor will I ever.... but thanks for the warning.

cigboat1

If I may make one more suggestion: unless you own this boat now ------ Look for a lot newer boat than what your looking at now ,you will not be sorry later for many , many, many reasons........


Good luck

Jim


There are all kinds of great buys out there now ----- Look harder!!!!!!!!!
Try the classified adds on this web site!Go to boats for sale and click on Scarab.

Machine 3

I was actually looking for a newer one and saw a few within my budget, then this one came up and was at an unbelievable price, original owner, 2 new motors in 2010 and a complete redo in 2008. my budget was up to about 40k and the boat in question is about 35% of that. There is another one close by that I am also looking at this week, much newer and about 30k with out trailer.