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Thread: Insurance Question! Help!

  1. #1
    Join Date
    Oct 2018
    Location
    Portland, Oregon, USA
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    8

    Default Insurance Question! Help!

    I'm a new boater, just bough a 1963 Owens Sea Skiff (wood, inboard) and got a quote of $1800 per year. That seems awfully high. We're required in Oregon (at the moorage I'm using) to have pollution liability of $500K and general indemnity (for injuries) of another $500K. But $1800 a year seems awfully high.

    Any thoughts? Thanks!!!

  2. #2
    Join Date
    Dec 2003
    Location
    Portland, Oregon
    Posts
    51,080

    Default Re: Insurance Question! Help!

    Quote Originally Posted by mjdclark57 View Post
    I'm a new boater, just bough a 1963 Owens Sea Skiff (wood, inboard) and got a quote of $1800 per year. That seems awfully high. We're required in Oregon (at the moorage I'm using) to have pollution liability of $500K and general indemnity (for injuries) of another $500K. But $1800 a year seems awfully high.

    Any thoughts? Thanks!!!
    Who all did you get quotes from?
    David G
    Harbor Woodworks
    https://www.facebook.com/HarborWoodworks/

    "It was a Sunday morning and Goddard gave thanks that there were still places where one could worship in temples not made by human hands." -- L. F. Herreshoff (The Compleat Cruiser)

  3. #3
    Join Date
    Mar 2009
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    2 states: NJ and confusion
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    30,620

    Default Re: Insurance Question! Help!

    Interesting question. Wonder if 'wood' makes premium go up?
    How do we form a mutiny? Our new captain is navigating poorly.

  4. #4
    Join Date
    Aug 2008
    Location
    Scotland
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    Default Re: Insurance Question! Help!

    No doubt UK rates are very different from USA rates, but just for reference I pay the equivalent of $180 per annum (yes that's one hundred and eighty) for my 21ft GRP sailboat, and $80 for my wooden Drascombe Longboat.
    It’s really hard to define ‘virtue signalling’, as I was saying the other day to some of my Muslim friends over a fair-trade coffee in our local feminist bookshop. (Lucy Porter 2018)

  5. #5
    Join Date
    Mar 2011
    Location
    Mukilteo, WA
    Posts
    1,908

    Default Re: Insurance Question! Help!

    I do much better than $1800/yr on a 40 ft wooden sailboat, and my seattle insurance is much higher than when I was in portland.

    Try Boat US. They are actually underwritten by Geico, but don't seem to mind wood boats at all. They did ask for a survey from my wooden boat, something they didn't do for a FG boat, but the rate doesn't seem to be much different.

  6. #6
    Join Date
    Aug 1999
    Location
    Woodbridge, Suffolk, UK
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    23,454

    Default Re: Insurance Question! Help!

    I pay half that for a 55 foot sailboat here in Britain.
    IMAGINES VEL NON FUERINT

  7. #7
    Join Date
    Apr 1999
    Location
    Hyannis, MA, USA
    Posts
    45,824

    Default Re: Insurance Question! Help!

    If you're a homeowner, the boat can usually be a rider on that policy at a rational cost.

    Liability is usually less costly than what you've been quoted but hull insurance for a wooden boat can really go through the roof. Half a million for pollution sounds excessive.

  8. #8
    Join Date
    Sep 2007
    Location
    Bass Harbor, ME
    Posts
    2,781

    Default Re: Insurance Question! Help!

    Try the Grundy agency. They got me insurance for my 82 year old 32 footer for under $500 a year without a survey for $40K agreed value coverage. I did supply them with 500 pictures of my rebuild and explanations pf what I did.

  9. #9
    Join Date
    Sep 2007
    Location
    Bass Harbor, ME
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    2,781

    Default Re: Insurance Question! Help!

    Quote Originally Posted by Ian McColgin View Post
    If you're a homeowner, the boat can usually be a rider on that policy at a rational cost.

    Liability is usually less costly than what you've been quoted but hull insurance for a wooden boat can really go through the roof. Half a million for pollution sounds excessive.
    As a generalization a homeowners rider tends to be limited to boats under 26'.

  10. #10
    Join Date
    Oct 2018
    Location
    Portland, Oregon, USA
    Posts
    8

    Default Re: Insurance Question! Help!

    Hi, Everyone! Thanks to all for your advice. I did some shopping around and, with some of the advice I received here, I ended up with Boat US for about $550 per year, including almost $1 million in spill insurance, $500K liability, and a $500 deductible on the boat and hull (she's only valued at about $7,000, so it's all a bit fascinating). I'm a fan of responsible liability insurance and environmental concerns, so I'm quite happy.

    I also got the Boat US version of AAA for boats. I guess if I run out of gas they'll come fill her up ... and I'll go home red-faced (ha).

    Thanks again. Love this forum. It really helps me! When I get her all shined up, I'll post a photo. Old wooden boats are worth every second of labor they call for!

    MC

  11. #11
    Join Date
    Nov 2004
    Location
    Sharon, MA
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    20,864

    Default Re: Insurance Question! Help!

    Quote Originally Posted by mjdclark57 View Post
    I also got the Boat US version of AAA for boats. I guess if I run out of gas they'll come fill her up ... and I'll go home red-faced (ha).
    I have had the Boat US 'Safe Sea' policy for 33 years.... and in that time, I believe I've had to call them perhaps 3 times. Once, for an engine failure while in Block Island, another time, aground near Allen Harbor (Narragansett Bay, RI), and another time when I snagged a lobster pot going through the Race (between Long island and Connecticut.... but the most recent instance was a very long time ago.

    They are very efficient, and provide very good service.
    "Reason and facts are sacrificed to opinion and myth. Demonstrable falsehoods are circulated and recycled as fact. Narrow minded opinion refuses to be subjected to thought and analysis. Too many now subject events to a prefabricated set of interpretations, usually provided by a biased media source. The myth is more comfortable than the often difficult search for truth."







  12. #12
    Join Date
    Jul 2000
    Location
    N.E. Connecticut.
    Posts
    6,131

    Default Re: Insurance Question! Help!

    Another point of reference here (more for future reference now it would seem). I have insurance for my 1957, 33ft twin screw Jersey sea skiff through Boat US. It is a good coverage liability only policy and I had to have a ‘suitability for insurance survey’ done, but my premium is $76 a year. Given what wooden boats sell for (and are so valued at) I am ‘self insuring’ for hull damage. I would be doing the work anyway.

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