Insurance

[Dougster]

I keep liability with Progressive only on my LB22. If stolen/sunk/smashed I'll just walk away...provided I can I think of small boats as toys whose loss can be eaten. The bigger builds and $$ expended make a different story, so this is a good thread.

Dougster

[Jeff]

wwsmith, I am going to do some research on the HIN issue as well as talk to a few insurance providers and provide the members a summary. Before I start, did the State of Texas not issue you a title with a HIN/VIN number on it? Jeff

[jacquesmm]

This is strange. I have two boats, a GF16 with a state issued HIN and a very old (1974) small fiberglass trawler designed by Jack Hargrave, old HIN from a company that does not exist anymore.
They are insured by Geico and I paid my premium a few weeks ago, no problem.
Each is insured not only for liability but also for a set value (I don't know the exact term) in case of loss.
They are also listed under an umbrella insurance.

[wwsmith]

Thanks, Jeff! Yes, I have a title with the ID number on it. Texas Parks and Wildlife inspects the boat, installs HID numbers, then issues the title. But I suppose at that point, the ID is recorded as being "state-issued" and not issued by a manufacturer.

I'd be happy to have the boat surveyed if that made the insurance companies happy, but even that doesn't seem to help.

[wwsmith]

Geico insured my LM18. When I called them to insure my new boat, they informed me that they were no longer insuring these boats. I asked about my existing boat and they said they will grandfather in all the existing boats, just no more new ones.

[fallguy1000]

This is strange. I have two boats, a GF16 with a state issued HIN and a very old (1974) small fiberglass trawler designed by Jack Hargrave, old HIN from a company that does not exist anymore.
They are insured by Geico and I paid my premium a few weeks ago, no problem.
Each is insured not only for liability but also for a set value (I don't know the exact term) in case of loss.
They are also listed under an umbrella insurance.

Agreed.

Strictly from an actuarial perspective, I would prefer to insure a guy who built his own boat and passed a survey 5 times over someone who wrote a check. People are almost always more careful when they built something nice. However, I have seen people build junk for which they can be careless. But nothing a surveyor would be involved with...

[VT_Jeff]

To clarify - progressive offered to provide liability only, but we need full coverage.

This is really all I'm after. I'd like to see it insured for damage while towing but I could live with just liability.

[VT_Jeff]

Progressive will do liability-only for me for $100.00/year, just gave them my CC#. Will just need to make sure that if something happens to the boat, it's not my fault. What could go wrong?

[TomW1]

This is strange. I have two boats, a GF16 with a state issued HIN and a very old (1974) small fiberglass trawler designed by Jack Hargrave, old HIN from a company that does not exist anymore.
They are insured by Geico and I paid my premium a few weeks ago, no problem.
Each is insured not only for liability but also for a set value (I don't know the exact term) in case of loss.
They are also listed under an umbrella insurance.

Jacques Geico has grandfathered all of their previous insured boats at least for now. They are no longer insuring any new boats.

Tom

[Jaysen]

This is strange. I have two boats, a GF16 with a state issued HIN and a very old (1974) small fiberglass trawler designed by Jack Hargrave, old HIN from a company that does not exist anymore.
They are insured by Geico and I paid my premium a few weeks ago, no problem.
Each is insured not only for liability but also for a set value (I don't know the exact term) in case of loss.
They are also listed under an umbrella insurance.

Jacques Geico has grandfathered all of their previous insured boats at least for now. They are no longer insuring any new boats.

Tom

I’m beginning to see cancellations of contracts due to age for preexisting customers (previously grandfathered). I’ll look for things that are common on the cancellation notices to see if there is something beyond just “old boat”.