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Thread: Insurance

  1. #1
    Join Date
    May 2018
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    Clearwater Beach, FL
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    Default Insurance

    Who are you all using for insurance? I have a little 9' home built with a 4hp engine. I am having a hard time finding a policy that will cover the boat. BoatUS/Geico and Allstate both said no. I've heard Progressive might, but only if I move all my other policies to them. I really only care about liability coverage (plus value of engine if possible) for when the kids or guests are cruising around the canal.

  2. #2
    Join Date
    Oct 2017
    Location
    Charleston, SC USA
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    Default Re: Insurance

    Have you spoken to your homeowners insurance agent? That coverage may already be included in the policy or available as an add on.

  3. #3
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    May 2018
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    Clearwater Beach, FL
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    Default Re: Insurance

    Quote Originally Posted by Arlc View Post
    Have you spoken to your homeowners insurance agent? That coverage may already be included in the policy or available as an add on.
    Yes. Allstate does all my policies, including homeowners and umbrella. I was told they are unable to cover a homebuilt boat, and the agent (who is otherwise very good) did not know of any options.

  4. #4
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    Oct 2017
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    Charleston, SC USA
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    Default Re: Insurance

    In SC, State Farm provides liability coverage under the HO policy. Coverage for the asset (vessel and equip) under separate policy. Maybe time to find new insurance company.

  5. #5
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    May 2018
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    Clearwater Beach, FL
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    Default Re: Insurance

    Quote Originally Posted by Arlc View Post
    In SC, State Farm provides liability coverage under the HO policy. Coverage for the asset (vessel and equip) under separate policy. Maybe time to find new insurance company.
    Yeah... hence asking here. The issue is that even the companies who insure boats, aren't willing to insure a homebuilt boat. That's why I am asking. Telling me to try a different company isn't really useful when I came here saying that all the companies I've tried aren't willing to insure it. I need specific knowledge of companies who will insure a homebuilt.

  6. #6
    Join Date
    Apr 2010
    Location
    Fairfield, CA
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    Default Re: Insurance

    Why did BoatUS/Geico decline? They cover my home built boat for liability, just wanted some info and pictures.

  7. #7
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    Mar 2007
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    East Quogue,NY
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    22,517

    Default Re: Insurance

    ^+1

    Is your boat registered?

    I realize a lot of folks don't want to register a tiny boat. But, if we put an engine or motor on, register it we must. I am not trying to
    "play cop", just saying that if you don't want to register it, I get it....but I also get why an insurance company won't cover it.

    Kevin
    There are two kinds of boaters: those who have run aground, and those who lie about it.

  8. #8
    Join Date
    May 2018
    Location
    Clearwater Beach, FL
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    Default Re: Insurance

    Quote Originally Posted by rgthom View Post
    Why did BoatUS/Geico decline? They cover my home built boat for liability, just wanted some info and pictures.
    Don't know. As soon at I said it was homebuilt, they told me they couldn't insure it. All I want is liability.

  9. #9
    Join Date
    May 2018
    Location
    Clearwater Beach, FL
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    23

    Default Re: Insurance

    Quote Originally Posted by Breakaway View Post
    ^+1

    Is your boat registered?

    I realize a lot of folks don't want to register a tiny boat. But, if we put an engine or motor on, register it we must. I am not trying to
    "play cop", just saying that if you don't want to register it, I get it....but I also get why an insurance company won't cover it.

    Kevin
    Yes, it is registered. Also carry all the USCG required safety gear, and whatever else I need to stay legal... Just like my big boat. All I want is some liability insurance on the thing. It goes 5mph and is only used in the canal, so risk of anything actually happening is slim. Still, I am uncomfortable to let people take it out due to liability issues if they somehow managed to hurt themselves or damage someone's property.

  10. #10
    Join Date
    Mar 2012
    Location
    Adirondack Mts, New York State
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    Default Re: Insurance

    Is it USCG certified and has a HIN?
    Last edited by Chris Woodward; 05-06-2021 at 10:41 PM.

  11. #11
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    May 2018
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    Clearwater Beach, FL
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    Default Re: Insurance

    Quote Originally Posted by Chris Woodward View Post
    Is it USCG certified and has a HIN?
    It was registered in the state of FL following their procedures. They gave it a HIN. There is no CG inspections on boats under 16' I believe. But regardless, I've done all the steps to register a motor boat of that size.

  12. #12
    Join Date
    Jul 2020
    Location
    Norwich, Norfolk, UK
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    659

    Default Re: Insurance

    Do you not have specialist Dinghy and yacht insurance brokers over there?
    Over here in general you don't directly go to a insurance company but go via a broker. So for my modified landrover I went to Adrian Flux, and I've just got my first quote in from Noble marine for my home built sailing boat. Other brokers will also be asked about the boat shortly..
    Just an amateur bodging away..

  13. #13
    Join Date
    May 2018
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    Clearwater Beach, FL
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    23

    Default Re: Insurance

    Quote Originally Posted by The Q View Post
    Do you not have specialist Dinghy and yacht insurance brokers over there?
    Over here in general you don't directly go to a insurance company but go via a broker. So for my modified landrover I went to Adrian Flux, and I've just got my first quote in from Noble marine for my home built sailing boat. Other brokers will also be asked about the boat shortly..
    There are some specialized insurance brokers. That's why I was asking here. Hoping to not waste a ton of time with dead end leads. I thought someone might have had a personal recommendation that insured a similar boat.

    I think a lot of the problem is that it is such a small boat. I bet insuring a similar size/power production dingy would cost $50 for the year. I think most brokers simply don't want to waste their time with me.

  14. #14
    Join Date
    Sep 2015
    Location
    Viroqua, Wisconsin
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    487

    Default Re: Insurance

    Home-built boat insurance...

    I'd think being in FL you'd have lots of options. Finding a willing agent / broker may take some time but that's what e-mail's for IMHO.

    You build from plans / kit or DIY? The motor may be the biggest issue but as I've never had a motor-driven watercraft, my actual experience is nil on that aspect.

  15. #15
    Join Date
    May 2018
    Location
    Clearwater Beach, FL
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    23

    Default Re: Insurance

    Quote Originally Posted by sp_clark View Post
    Home-built boat insurance...

    I'd think being in FL you'd have lots of options. Finding a willing agent / broker may take some time but that's what e-mail's for IMHO.

    You build from plans / kit or DIY? The motor may be the biggest issue but as I've never had a motor-driven watercraft, my actual experience is nil on that aspect.
    Built from plans. Marine ply sheathed in glass. Has a 4hp outboard. Doesn't even plane. Only use is cruising the canal. I don't even care about coverage for the boat/motor value. I'd be happy with just liability to protect my other assets in the rare chance someone got hurt.

  16. #16
    Join Date
    Jun 2011
    Location
    Central New Jersey
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    Default Re: Insurance

    After digging deep into the internet and many rejections by various companies I found Foremost Insurance 800-237-2060. They are a specialized division of Farmers Insurance and will insure home build wooden boats but you'll have to jump few a few hoops for the underwriters. I know they cover New Jersey and Pennsylvania. I am sure they are available in other states as well. Best of all their prices are very reasonable.
    Steamboat

    I get by with the judicious use of serendipity.

  17. #17
    Join Date
    Sep 2006
    Location
    Seattle
    Posts
    54

    Default Re: Insurance

    I have both my homebuilt sailboats insured with Heritage Marine Insurance, obtained through a local broker. The company says it specializes in wooden and classic boats. No inspection or hoop-jumping was required, and the rates seem reasonable.

  18. #18
    Join Date
    Aug 2012
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    PNW
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    Default Re: Insurance

    Timely thread, I'm posting just to make it easy to find.
    Thanks
    ​​♦ During times of universal deceit, telling the truth becomes a revolutionary act
    ♦ The further a society drifts from truth the more it will hate those who speak it
    ♦ If liberty means anything at all, it means the right to tell people what they do not want to hear
    ♦ George Orwell

  19. #19
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    Jun 2011
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    Central New Jersey
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    Default Re: Insurance

    For those still looking Hagerty appears to be a good option. They just sent are very reasonable quote.
    Hagerty Insurance Agency, LLC
    P.O. Box 1301
    Traverse City, MI 49685-1301
    Steamboat

    I get by with the judicious use of serendipity.

  20. #20
    Join Date
    Mar 2002
    Location
    Atlanta
    Posts
    2,396

    Default Re: Insurance

    I'm with Hagerty ; no problems .I'm a member of Boat US and recently asked them for a quote .They declined " because of the wood material ".

  21. #21
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    Jun 2011
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    Central New Jersey
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    Default Re: Insurance

    Quote Originally Posted by Bill Perkins View Post
    I'm with Hagerty ; no problems .I'm a member of Boat US and recently asked them for a quote .They declined " because of the wood material ".
    USBoats is funneling you to Geico and they only insure boats if you bundle your home and auto with them.
    Steamboat

    I get by with the judicious use of serendipity.

  22. #22
    Join Date
    Jun 2020
    Location
    Friendship, ME, USA
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    17

    Default

    Quote Originally Posted by Steamboat View Post
    For those still looking Hagerty appears to be a good option. They just sent are very reasonable quote.
    Hagerty Insurance Agency, LLC
    P.O. Box 1301
    Traverse City, MI 49685-1301

    I use AMICA for all of my personal insurance, including 2 fiberglass boats. Have for decades.
    But when it came to my wooden Penobscot Wherry (built by Dale Cottrell), it was nope, we don’t insure wooden boats. I mean really, it’s a rowboat. A really nice rowboat, brand new, too.
    Anyway, they sent me to Haggerty, which was happy to insure it.
    Haggerty has a good reputation. Hope they can help.


    Sent from my iPad using Tapatalk

  23. #23
    Join Date
    Oct 2009
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    South Puget Sound/summer Eastern carib./winter
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    19,597

    Default Re: Insurance

    I wonder if it helps if we call our boats "composite" instead of "wood".

  24. #24
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    Jun 2011
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    Central New Jersey
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    Default Re: Insurance

    Quote Originally Posted by wizbang 13 View Post
    I wonder if it helps if we call our boats "composite" instead of "wood".
    I think most insurers believe the oceans will ignite if they insure a wooden boat that is build by an amateur.
    Steamboat

    I get by with the judicious use of serendipity.

  25. #25
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    Jan 2003
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    New Zealand's Far North
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    10,205

    Default Re: Insurance

    Quote Originally Posted by Steamboat View Post
    I think most insurers believe the oceans will ignite if they insure a wooden boat that is build by an amateur.
    I think the reality is that insurers are used to having vast amounts of actuarial information from which they can base their policies.
    Either that information shows that amateur built boats are a bad risk, or their is not enough information on that category to satisfy their needs.
    There is nothing quite as permanent as a good temporary repair.

  26. #26
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    Jun 2011
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    Central New Jersey
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    Default Re: Insurance

    Quote Originally Posted by Stiletto View Post
    I think the reality is that insurers are used to having vast amounts of actuarial information from which they can base their policies.
    Either that information shows that amateur built boats are a bad risk, or their is not enough information on that category to satisfy their needs.
    Now why did you have to be so rational? I expect that in the world of your major brand insurance carriers there is not enough data to make accurate projections about amateur built wooden boats.
    Steamboat

    I get by with the judicious use of serendipity.

  27. #27
    Join Date
    Dec 2003
    Location
    CT
    Posts
    835

    Default Re: Insurance

    I think that if you were to apply for insurance for a composite boat by Huckleberry Marine you’d be home free.

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