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

Registered: 07/03/01
Posts: 471
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 Online   content
burro desagradable

Registered: 08/20/03
Posts: 21442
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: 1316
Loc: Orange, 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: 2378
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: 157
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: 584
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: 76006
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
Green Horn

Registered: 01/28/17
Posts: 19
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
Extreme Angler

Registered: 07/13/14
Posts: 2251
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: 52721
Loc: Forney 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
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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: 52721
Loc: Forney 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: 8986
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: 52721
Loc: Forney 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: 52721
Loc: Forney TX
State Farm and progressive offer agreed value policies
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