Insuring old boats -- not with Geico

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fallguy1000
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Re: Insuring old boats -- not with Geico

Post by fallguy1000 »

Jaysen wrote: Sun Feb 14, 2021 8:17 am Progressive will issue a policy on line!

Need to call them though.
1. Liability limit too low to meet marina requirements.
2. Excludes “named storms”.
3. Has lots of stuff already covered or not applicable.

Off the site it looks like $650/yr. The PO policy from Geico was $238/yr. Seems like old boat economy is going rot take a hit in the coming years.
How hard is it to pull your boat? The 'named storm' exclusion...is that excluding liability or just covering your losses?


My boat build is here -------->

viewtopic.php?f=12&t=62495

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Jaysen
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Re: Insuring old boats -- not with Geico

Post by Jaysen »

fallguy1000 wrote: Sun Feb 14, 2021 9:18 am
Jaysen wrote: Sun Feb 14, 2021 8:17 am Progressive will issue a policy on line!

Need to call them though.
1. Liability limit too low to meet marina requirements.
2. Excludes “named storms”.
3. Has lots of stuff already covered or not applicable.

Off the site it looks like $650/yr. The PO policy from Geico was $238/yr. Seems like old boat economy is going rot take a hit in the coming years.
How hard is it to pull your boat? The 'named storm' exclusion...is that excluding liability or just covering your losses?
Requires crane/lift. No trailer. Only 2 lifts local. Multi month waiting list. Next closest lifts are Sav and CHS. Long waits there and the are known to refuse boats not part of local marinas durning storms. My hurricane plan is a mooring ball at my marina.

As I read it, NO coverage for named storms. Although they do provide reimbursement for haulout. I need environmental coverage for named storms at a minimum.
My already completed 'Lil Bit'. A Martens Goosen V12 set up to sail me to the fishing holes.
Currently working on making a Helms 24 our coastal cruiser.
Jaysen wrote: Mon Apr 29, 2019 3:44 pm I tried to say something but God thought I was wrong and filled my mouth with saltwater. I kept my pie hole shut after that.

SDyeti
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Re: Insuring old boats -- not with Geico

Post by SDyeti »

Up until six months ago I had a sailboat built in 1972/1975. My insurance was through a local SD broker with Markel American.

https://www.markelinsurance.com/boat

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Jaysen
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Re: Insuring old boats -- not with Geico

Post by Jaysen »

Landed with progressive. Everyone else wanted unneeded inspections (cost more than the actual boat) or huge prices. Progressive age cutoff is currently built prior to 1965.

I really wanted an old herschoff but not sure I’ll ever be able to get one based just on insurance issues.
My already completed 'Lil Bit'. A Martens Goosen V12 set up to sail me to the fishing holes.
Currently working on making a Helms 24 our coastal cruiser.
Jaysen wrote: Mon Apr 29, 2019 3:44 pm I tried to say something but God thought I was wrong and filled my mouth with saltwater. I kept my pie hole shut after that.

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