Insuring old boats -- not with Geico

Share tips, suggest or request changes, anything that does not fit in the other categories.
fallguy1000
* Bateau Builder - Expert *
* Bateau Builder - Expert *
Posts: 10198
Joined: Tue Jan 12, 2010 12:25 am

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

User avatar
Jaysen
* Bateau Builder *
* Bateau Builder *
Posts: 6497
Joined: Wed Aug 05, 2015 7:59 am
Location: St Helena Island, SC
Contact:

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.
“Mark Twain/Samuel Clemens” wrote:Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day.
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
Frequent Poster
Frequent Poster
Posts: 16
Joined: Mon Sep 30, 2019 11:06 pm
Location: San Diego

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

User avatar
Jaysen
* Bateau Builder *
* Bateau Builder *
Posts: 6497
Joined: Wed Aug 05, 2015 7:59 am
Location: St Helena Island, SC
Contact:

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.
“Mark Twain/Samuel Clemens” wrote:Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day.
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.

Post Reply

Who is online

Users browsing this forum: No registered users and 8 guests