Insurance?

[mhoffman]

I have called a couple of local insurance agents about getting coverage for the runabout I built. A couple of them wanted verification of my credentials BEFORE they would even consider unwriting. Others wanted the survey done before they would consider- which I can understand.
Anyone else have any problems getting homebuilt insured? Solutions, recommendations?
Thanks-
Matt

[Carl Simmons]

I went to my Insurance agent to get the boat trailer insured. He said they couldn't insure the boat until it was finished and that a third party would need to appraize the value.

Carl.

[Ed Nye]

Both of your experiences are pretty normal from what I understand. Opal had to have a value and condition survey to get insurance initally and a new survey every five years to keep it. The first had to be out of the water; since then they could be conducted in the water. And that's from an agent that knows the boat and has our house, cars, and everything else.
Ed

[imported_George]

I spent the better part of 2 years trying to get insurance. I called all the guys that had an add in any boat mag I got. It all boiled down to this; they only want to write poilcies on new or newer plastic boats.....they asked STUPID questions like "How many years do you have operating boats" or "What is your driving (car) record like" "Are you married".
After a while someone told me I needed to find a company that wrote "all lines" that was another blind alley. I even tried to find an agency that would write with "Loyds of London". I tell you I never talked to a dummer group of people in my entire. Talk about tunnel vision.
Finally last year while at the "Wooden Boat Show" in Rockland Maine I ran across a very nice guy from "Blackard Insurance" he said they write builders policies. I called the next day and a very nice lady said "Yes we do write builders policies". Turns out these folks ONLY write boat insurance. NO houses, cars, planes, etc.... and they have been doing it for many years. smile.gif

[imported_George]

Originally posted by mymustache:
Finally last year while at the "Wooden Boat Show" in Rockland Maine I ran across a very nice guy from "Blackard Insurance" he said they write builders policies. I called the next day and a very nice lady said "Yes we do write builders policies". Turns out these folks ONLY write boat insurance. NO houses, cars, planes, etc.... and they have been doing it for many years. smile.gif [/QB]Well it never fails. One day i'll learn to spell. Their proper name is "Blackadar Marine Insurance". Their in S Hampton, NH their toll free number is 800-738-5571. Sorry bout that.
George

[Leon Steyns]

Hmm, we're not building "home-built" craft, are we? We're constructing "custom-built" crafts, in some cases even "custom designed and build"... :D :D

Greets, Leon Steyns.

[ 03-17-2003, 06:40 AM: Message edited by: Leon Steyns ]

[mhoffman]

Thanks for the info- I'll give them a call.

Last company I talked to wanted to know my boat building experience. How do you want me to answer that? I built one, its in my garage? Besides, I'm the guy operating it- if I had no faith in my ability to put a seaworthy boat in the water, why on earth would I endanger myself, friends, or others on the water? All for having a reputable surveyor certify to the competancy of my efforts, in our society of sue anyone for anything, liability insurance seems very prudent. Just can't understand why it should be so difficult. :confused:

Matt

[Paul]

Try Heritage Marine Insurance, they advertise in WB. I had no problem insuring my Haven 12.5

[J. Labaree]

I had no problem insuring the 15' runabout I built a couple of years ago. I just called my regular insurance company, Amica, and they sold me a standard marine policy with basically no questions asked, apart from obvious ones.

- Jonathan

[Art Read]

Hey, Paul? Just out of morbid curiosity... How did you and the folks at Heritage settle upon a "value" for your Haven? Do they have "comparables" for something like her or did you need a survey of some sort? (I'm not sure just how I'd go about putting a dollar amount on my project... Or even if I'd ever really want to have to... Just what DOES "blood, sweat and tears" go for these days, anyway? ;) )