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#11687330 - 06/24/16 05:23 PM Boat Insurance For Older Boats
lonestar Online   confused
Angler

Registered: 07/03/01
Posts: 475
Loc: Cleburne, TX
Is it possible to insure boats that are more than 10 years old. Have a 2002 Triumph Center Console with 2002 140 hp 4 stroke Suzuki. It is in really good shape. Can this boat and motor be insured?

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#11689285 - 06/26/16 06:35 AM Re: Boat Insurance For Older Boats [Re: lonestar]
RedRanger Offline
burro desagradable

Registered: 08/20/03
Posts: 23250
Loc: Frisco, Texas
Of course it can be insured

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#11689404 - 06/26/16 08:48 AM Re: Boat Insurance For Older Boats [Re: lonestar]
Ol Man River Offline
Extreme Angler

Registered: 06/16/11
Posts: 1463
Loc: SE Texas
Originally Posted By: lonestar
Is it possible to insure boats that are more than 10 years old. Have a 2002 Triumph Center Console with 2002 140 hp 4 stroke Suzuki. It is in really good shape. Can this boat and motor be insured?


Yes sir, it should be insured if it has any substantial value unless you are willing to accept the risk yourself and pay for any damages if they occur. In most cases the cost of insurance on an older boat is reasonable and worth it for peace of mind not to mention the liability when on the water with others.

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#11797538 - 08/25/16 10:26 PM Re: Boat Insurance For Older Boats [Re: lonestar]
J Rankin Offline
Extreme Angler

Registered: 08/31/09
Posts: 2468
Loc: spring tx
I just got my 99 skeeter 202c insured through charter and was only $278.00 a year.. Full tournament coverage
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#11798930 - 08/26/16 04:53 PM Re: Boat Insurance For Older Boats [Re: lonestar]
Insurancepro Offline
Outdoorsman

Registered: 01/23/09
Posts: 169
Getting insurance for a older boat is easy. Just be careful on what you buy. A lot of companies will have depreciation on machinery. I have been able to help a lot of the members here to better understand Marine insurance. Feel free to give me a call if I can help in anyway. Thanks Bob Luellen 800-339-1235

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#11997024 - 12/21/16 02:24 PM Re: Boat Insurance For Older Boats [Re: lonestar]
83falcon Offline
Pro Angler

Registered: 04/16/08
Posts: 586
Loc: Lewisville, TX
I had an appraisal done on my 82 falcon and 2013 aluminum trailer. I then took it to AAA and had them do a agreed to value policy. If not, like with my claim with Allstate, I would get dinged 2% of each year of the boats age. It hurt bad when they deducted 50% from my repair bill.

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#12094005 - 02/14/17 02:19 PM Re: Boat Insurance For Older Boats [Re: lonestar]
hopalong Offline
Pumpkin Head

Registered: 09/06/08
Posts: 78878
Loc: drake river ranch telephone T...
I carry 300,000 liability and 5,000 medical per person on an 82 champion 184.

just got my bill, 75.00 a yr.
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#12095040 - 02/15/17 06:41 AM Re: Boat Insurance For Older Boats [Re: hopalong]
jla11868 Offline
Outdoorsman

Registered: 01/28/17
Posts: 34
Loc: Lake Palestine
what ins co. do you have?

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#12127612 - 03/06/17 05:28 PM Re: Boat Insurance For Older Boats [Re: lonestar]
Bobby Milam Offline
TFF Team Angler

Registered: 07/13/14
Posts: 3181
Loc: Arlington
My bad I clicked wrong section


Edited by Bobby Milam (03/06/17 05:29 PM)

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#12130291 - 03/07/17 08:40 PM Re: Boat Insurance For Older Boats [Re: Insurancepro]
SkeeterRonnie Offline
Pot stirrer

Registered: 02/25/03
Posts: 53242
Loc: Campbell, TX
Originally Posted By: Insurancepro
Getting insurance for a older boat is easy. Just be careful on what you buy. A lot of companies will have depreciation on machinery. I have been able to help a lot of the members here to better understand Marine insurance. Feel free to give me a call if I can help in anyway. Thanks Bob Luellen 800-339-1235


the policy you sold me was depreciable, and I was unaware of that little item until I filed a claim last week. i will be calling your tomorrow to discuss
Ronnie Manning
_________________________
www.rayhubbardbassclub.com
2017 RHBC Champions

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#12140947 - 03/14/17 04:08 PM Re: Boat Insurance For Older Boats [Re: lonestar]
SkeeterRonnie Offline
Pot stirrer

Registered: 02/25/03
Posts: 53242
Loc: Campbell, TX
Update: worldwide couldn't get it done! State Farm came back with better coverage for $20 more than the Progressive policy they were quoting me. Plus I've heard horror stories about progressive in the past.
So State Farm won this go round!

And I'm still hot about being sold a depreciable policy from Worldwide last year. Didn't realize it until a claim. Only saving grace was I only have 234 hours in my boat ! They depreciated $580 off $4100. With a $500 deductible. If I had more hours it would be significantly higher depreciation! These guys were supposed to be better than that and work for the consumer! That's what I get for trusting them and not digging deeper into my policy! Lesson learned!


Edited by SkeeterRonnie (03/14/17 04:13 PM)
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#12145294 - 03/17/17 09:08 AM Re: Boat Insurance For Older Boats [Re: SkeeterRonnie]
Lee in Texas Offline
TFF Celebrity

Registered: 03/23/13
Posts: 9090
Loc: Wise County Texas
Hmmmmmm....my insurance is coming due and this is a point that I guess I haven't given that much thought to. My rig is older and less than 200 hours on the Johnson power plant but, I would like to at least carry enough to recover my losses (should anything happen) and my equipment. Not unreasonable I think.
Perhaps I need to talk to Bob again as well before I 'renew' !!!
Good info....thanks
God Bless
Lee

Originally Posted By: SkeeterRonnie
Originally Posted By: Insurancepro
Getting insurance for a older boat is easy. Just be careful on what you buy. A lot of companies will have depreciation on machinery. I have been able to help a lot of the members here to better understand Marine insurance. Feel free to give me a call if I can help in anyway. Thanks Bob Luellen 800-339-1235


the policy you sold me was depreciable, and I was unaware of that little item until I filed a claim last week. i will be calling your tomorrow to discuss
Ronnie Manning
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http://www.gleasonfishing.com/ Darold Gleason
2004 Stratos Complete Restoration 2014!!! With Much Gratitude to:
Cal's Marine/Azle,Texas (817)300-2827

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#12146372 - 03/17/17 10:12 PM Re: Boat Insurance For Older Boats [Re: lonestar]
SkeeterRonnie Offline
Pot stirrer

Registered: 02/25/03
Posts: 53242
Loc: Campbell, TX
Make sure you compare the quote with State Farm 972-231-1988. Doesn't hurt to shop


Edited by SkeeterRonnie (03/17/17 10:12 PM)
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#12147635 - 03/19/17 09:01 AM Re: Boat Insurance For Older Boats [Re: lonestar]
O-hello Offline
Green Horn

Registered: 02/12/11
Posts: 2
Most boat policies are ACV (Actual Cash Value = Current cost to repair or replacement cost minus depreciation). The one post above for $75 is just liability with no coverage for boat or motor or trailer.

If someone tells you an over 10 year boat is full replacement cost you will want to have them highlight that in the policy booklet AND make sure there are NO EXCLUSIONS in another part of the policy.

I have my 1968 houseboat insured at $11000 for hull coverage, there is always a value but depreciation is used in 98% of boat policies.

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#12147695 - 03/19/17 09:50 AM Re: Boat Insurance For Older Boats [Re: lonestar]
SkeeterRonnie Offline
Pot stirrer

Registered: 02/25/03
Posts: 53242
Loc: Campbell, TX
State Farm and progressive offer agreed value policies
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2017 RHBC Champions

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#12152642 - 03/22/17 09:17 AM Re: Boat Insurance For Older Boats [Re: lonestar]
89javelin100 Online   content
Angler

Registered: 03/14/15
Posts: 313
Loc: Fort Worth, TX
Hmmm. please keep any info coming. I wanna know the nitty gritty and as skeeter ronnie said he thought he had the right one and NOPE.... I called your office several months Bob and didn't get much done. Also is buying a policy from out of state several states a good idea?????

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#12395850 - 08/22/17 04:49 AM Re: Boat Insurance For Older Boats [Re: lonestar]
scruboak Offline
Extreme Angler

Registered: 03/11/03
Posts: 1225
Loc: Cisco,tx
bolt most insurance (State Farm) worst company I ever dealt with.

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#12397592 - 08/23/17 10:31 AM Re: Boat Insurance For Older Boats [Re: lonestar]
texasbass1 Offline
TFF Celebrity

Registered: 02/12/05
Posts: 5791
Loc: The Colony, TX
I have a 92 model and Bob got me great insurance with a stated value policy. A lot of companies won't cover older boats or if they do won't cover much. Give Bob a call and see what he can do. I've had him as my agent for at least 5 yrs now, had a couple of claims (lower unit, transom, trailer, all at different times) handled quickly and painlessly.
_________________________
Pat Leach



USAF MSgt Retired

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#12449889 - 10/02/17 10:12 AM Re: Boat Insurance For Older Boats [Re: lonestar]
Sphynx Offline
Green Horn

Registered: 10/02/17
Posts: 2
Loc: Houston, Texas
There are so many and all with similar premium. This is my first boat so don't want to get stuck with bad insurance. I found United Marine Underwriters, Insurers: American Modern Insurance Group. They seem to have great coverage for good cost, anyone deal with them in the past.

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#12481627 - 10/27/17 07:35 PM Re: Boat Insurance For Older Boats [Re: lonestar]
Catch&Release-Me-Again Online   content
Extreme Angler

Registered: 01/21/08
Posts: 1746
Loc: San Antonio, Tx, 78227
State Farm is IMHO the best, have had it for many years. Friend of mine had Progressive, nightmare, denied claim, costly mistake by my friend.

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