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Boat Insurance For Older Boats
#11687330
06/24/16 10:23 PM
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Joined: Jul 2001
Posts: 525
lonestar
OP
Pro Angler
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OP
Pro Angler
Joined: Jul 2001
Posts: 525 |
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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Re: Boat Insurance For Older Boats
[Re: lonestar]
#11689285
06/26/16 11:35 AM
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Joined: Aug 2003
Posts: 30,321
RedRanger
burro desagradable
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burro desagradable
Joined: Aug 2003
Posts: 30,321 |
Of course it can be insured
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Re: Boat Insurance For Older Boats
[Re: lonestar]
#11689404
06/26/16 01:48 PM
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Joined: Jun 2011
Posts: 2,235
Jimfishes
Extreme Angler
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Extreme Angler
Joined: Jun 2011
Posts: 2,235 |
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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Re: Boat Insurance For Older Boats
[Re: lonestar]
#11797538
08/26/16 03:26 AM
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Joined: Aug 2009
Posts: 2,562
J Rankin
Extreme Angler
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Extreme Angler
Joined: Aug 2009
Posts: 2,562 |
I just got my 99 skeeter 202c insured through charter and was only $278.00 a year.. Full tournament coverage
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Re: Boat Insurance For Older Boats
[Re: lonestar]
#11798930
08/26/16 09:53 PM
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Joined: Jan 2009
Posts: 185
Insurancepro
Outdoorsman
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Outdoorsman
Joined: Jan 2009
Posts: 185 |
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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Re: Boat Insurance For Older Boats
[Re: lonestar]
#11997024
12/21/16 08:24 PM
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Joined: Apr 2008
Posts: 586
83falcon
Pro Angler
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Pro Angler
Joined: Apr 2008
Posts: 586 |
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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Re: Boat Insurance For Older Boats
[Re: lonestar]
#12094005
02/14/17 08:19 PM
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Joined: Sep 2008
Posts: 121,172
hopalong
Pescador Loco
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Pescador Loco
Joined: Sep 2008
Posts: 121,172 |
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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Re: Boat Insurance For Older Boats
[Re: hopalong]
#12095040
02/15/17 12:41 PM
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Joined: Jan 2017
Posts: 79
jla11868
Outdoorsman
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Outdoorsman
Joined: Jan 2017
Posts: 79 |
what ins co. do you have?
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Re: Boat Insurance For Older Boats
[Re: lonestar]
#12127612
03/06/17 11:28 PM
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Joined: Jul 2014
Posts: 4,340
Bobby Milam
TFF Team Angler
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TFF Team Angler
Joined: Jul 2014
Posts: 4,340 |
My bad I clicked wrong section
Last edited by Bobby Milam; 03/06/17 11:29 PM.
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Re: Boat Insurance For Older Boats
[Re: Insurancepro]
#12130291
03/08/17 02:40 AM
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Joined: Feb 2003
Posts: 55,364
SkeeterRonnie
Super Freak
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Super Freak
Joined: Feb 2003
Posts: 55,364 |
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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Re: Boat Insurance For Older Boats
[Re: lonestar]
#12140947
03/14/17 09:08 PM
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Joined: Feb 2003
Posts: 55,364
SkeeterRonnie
Super Freak
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Super Freak
Joined: Feb 2003
Posts: 55,364 |
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!
Last edited by SkeeterRonnie; 03/14/17 09:13 PM.
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Re: Boat Insurance For Older Boats
[Re: SkeeterRonnie]
#12145294
03/17/17 02:08 PM
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Joined: Mar 2013
Posts: 9,169
Lee in Texas
TFF Celebrity
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TFF Celebrity
Joined: Mar 2013
Posts: 9,169 |
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 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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Re: Boat Insurance For Older Boats
[Re: lonestar]
#12146372
03/18/17 03:12 AM
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Joined: Feb 2003
Posts: 55,364
SkeeterRonnie
Super Freak
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Super Freak
Joined: Feb 2003
Posts: 55,364 |
Make sure you compare the quote with State Farm 972-231-1988. Doesn't hurt to shop
Last edited by SkeeterRonnie; 03/18/17 03:12 AM.
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Re: Boat Insurance For Older Boats
[Re: lonestar]
#12147635
03/19/17 02:01 PM
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Joined: Feb 2011
Posts: 2
O-hello
Green Horn
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Green Horn
Joined: Feb 2011
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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Re: Boat Insurance For Older Boats
[Re: lonestar]
#12147695
03/19/17 02:50 PM
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Joined: Feb 2003
Posts: 55,364
SkeeterRonnie
Super Freak
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Super Freak
Joined: Feb 2003
Posts: 55,364 |
State Farm and progressive offer agreed value policies
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