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Old 10-15-2014, 07:17 AM   #11
TT54
Veteran Member
 
City: Spruce Head
Vessel Model: Sabreline 36
Join Date: Sep 2014
Posts: 43
New owner insurance

Quote:
Originally Posted by SamIam_Sam View Post
Hello Forum.

I am a novice boater without previous experience on the water. Negotiating now with the owner of a 27 year old trawler. I've only made one inquiry about insurance with a broker so far but it was pretty disappointing. They told me most marine markets underwrite based on prior boat ownership experience and could not provide insurance to me based on my lack thereof. Over the next year after I purchase a boat, I fully intend to take USCG approved courses, engage a Captain to help me learn, go to whatever Trawler Schools are available, etc. But in order to get into a marina, insurance is required. Plus, I'd be a dope to not have insurance anyway.

Since I am new to this, what are my chances of getting insurance? Does anyone know of someone who underwrites newbies like me? Would the age of the boat be another factor working against me?

Thanks for any advice anyone may have.

-Sam
Good morning,
We are a few days shy of owner ship of a 1992 Sabreline and so thrilled I can barely wait. We will close on it by the 29th. So I feel very excited for both of us.
We have done hours of research on insurance. I hope that it is okay to mention the companies that we have top on our list. Gieco, Acadia and have filled out the online form for the USPS and awaiting a quote. We both have had experience on boats all of our lives however the biggest one is a 22 foot Regency pontoon boat. As already said here tell the broker every experience you have ever had let the broker decide if it is helpful. We have a captain motoring us for 2-3 days to bring our trawler home so that counts too I think for the insurance company to take that into account. We are also taking American's Boat Course (ABC). I agree that fibbing is a bad idea it will catch up with you I suspect.
If you google "what should I know before purchasing insurance on a boat" you will find information to consider. I did not realize how much needs to be consider i.e. towing, fire, personal belongings, dinghy etc.
We have not decided yet which company we will go with but I suggestion the more research you do the better you will understand how insurance works and be an informed consumer.
Congrats on your new adventure.
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