|
Originally Posted by 1MOSES1
(Post 4805587)
way off…negative. You only know what you read on offshoreonly. Typical internet researcher with no real world experience.
I own an old boat. 27 years old. Have owned it for 8 years. Also know several people with late 80’s cigarettes. coverage has never been an issue. it’s the price of coverage that is the stumbling block. Go re-read insurance threads. 90% of them are related to “I don’t want to pay that much for insurance”. I just switched insurance companies last year. There are several companies that offered coverage including foremost, boat us, progressive, total dollar, and wagner. These by no means are specialty insurance companies. There are more exclusive insurance companies that offer vintage coverage. Companies that service the wealthy. Not the average joe. most wealthy people use umbrella policies or leverage there companies… apples and oranges comparing how I insure a boat vs how herb chambers insured his yacht and collector cars. I was one of the people posting. There are in fact TWO companies left willing to touch that policy. Yes, the rates are high, and they will only write a policy that covers $.40/$1.00 of what the boat “should be” worth if you wanted/needed to replace it. I have insurance to protect against people, not equipment. I also carry a considerable amount of insurance of all different types for business (products liability, property, land and equipment, licenses, the list goes on). Those companies wanted no part of any insurance in an old performance boat, none. so it’s both a price thing and the fact they will just not write a policy for a boat of that vintage. Mine doesn’t have much original wood left in it, didn’t matter to them that the boat is almost all new as it says 1990 on the title, that’s all that matters. look how many 2005 outerlimits are up for sale. Going to be tough to cover those in 2-3 years. |
Originally Posted by Wildman_grafix
(Post 4805600)
This is why I would not want a CC so I can take "16 of my close friends", if something happened how many of those 16 are friends or people looking for a pay out.
Edit: Though I guess they could still come after you after your insurance company taps out. |
Originally Posted by frickstyle
(Post 4805601)
You & Jupiter are both right, and both a little wrong at the same time.
I was one of the people posting. There are in fact TWO companies left willing to touch that policy. Yes, the rates are high, and they will only write a policy that covers $.40/$1.00 of what the boat “should be” worth if you wanted/needed to replace it. I have insurance to protect against people, not equipment. I also carry a considerable amount of insurance of all different types for business (products liability, property, land and equipment, licenses, the list goes on). Those companies wanted no part of any insurance in an old performance boat, none. so it’s both a price thing and the fact they will just not write a policy for a boat of that vintage. Mine doesn’t have much original wood left in it, didn’t matter to them that the boat is almost all new as it says 1990 on the title, that’s all that matters. look how many 2005 outerlimits are up for sale. Going to be tough to cover those in 2-3 years. insurance isn’t about the perception of “value”. All insurance policies are a rip off. If you are willing to write a giant check…the “no’s” turn into “yes’s”. Especially if you have a good relationship with the company. |
I'm with Chubb, My Tiger is with total dollar, Chubb said no problem for agreed value of 500k
|
Rob, can you send me your agents contact info?
I’m with foremost still, dollar was the second choice. No one else would touch it. |
|
I have a car insured with Hagerty as a historic vehicle and the car has historic plates. That brings restrictions for its use but doable and a lower insurance rate. Maybe the new owner could get a historic policy for the boat with restrictions on use. Hagerty writes old boats, that's how they started.
|
Originally Posted by caseyh
(Post 4805392)
350-500k. does anyone know the actual condition of the boat?
|
Originally Posted by frickstyle
(Post 4805620)
Rob, can you send me your agents contact info?
I’m with foremost still, dollar was the second choice. No one else would touch it. Francine Damiano Customer Rep Manager Boat & Yacht Dept. Total Dollar Insurance A Foundation Risk Partners Company 1 Pleasant Ave Port Washington, NY 11050 Telephone #516-833-1571 & Fax 516-704-2285 |
Originally Posted by Interceptor
(Post 4805625)
I have a car insured with Hagerty as a historic vehicle and the car has historic plates. That brings restrictions for its use but doable and a lower insurance rate. Maybe the new owner could get a historic policy for the boat with restrictions on use. Hagerty writes old boats, that's how they started.
|
| All times are GMT -5. The time now is 08:45 AM. |
Copyright © 2026 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.