Old boat insurance

[Pau Hana]

Many companies (Geico included) will not issue a policy on a 40 year old boat. If you buy a 39 year old boat, they will and will grandfather it after 40 as long as the policy never lapses. Your experience and the size of previous boats you’ve owned will be factored in as well. Contact Pau Hana or GEICO directly.

Length has alot to do with it too. GEICO sent me a letter of non-renewal as I was too big. 48ft, 1988

Correct.

GEICO is no bueno over 40 years of age, and more changes are on the way. Other companies reply on the survey as the determining factor in offering coverage.

 

[Tommy Kaye]

My boat is a 1971 Grand Banks (woodie) and I get my insurance through BoatUS which uses Geico Insurance. $695 per year. I don’t care about the boat, all I care about is the environmental coverage in the event of a fuel spill or a sinking. Or if my boat broke free of her mooring and damaged a nearby boat. I’m registered in Rhode Island.

 

[BandB]

Wifey B: All you who seem astonished at how boat insurance rises with age, look at life insurance or health insurance. Thank goodness our boats do better than we do.

 

[Alaskaflyer]

Wifey B: All you who seem astonished at how boat insurance rises with age, look at life insurance or health insurance. Thank goodness our boats do better than we do.

I don’t know about that. I’m older than most all fiberglass yachts.

 

[Slowmo]

We have Red Shield up in the PNW insuring our 1979 40' Tollycraft. Cost is in the range of $1200. However there are restrictions on where we can go (and be insured) - inside Vancouver Island basically. Full survey required. I understand that older 120V AC systems can be a problem if they haven't been upgraded.

 

[Simi 60]

All sorts of weird and (not) wonderful stuff going on here.

We have had premiums go up 400% and deductable 700% with the big P when Berkshire Hathaway took over underwriting from Lloyds.
Never made a claim in 30 years on the water.

Size was the issue given but a bigger sister to ours in a cyclone prone area had no increase on theirs.

I thought it may have been construction material and considered buying a Sea Ranger 65 in Thailand, fibreglass construction but they insisted it was a size issue.

Obviously no longer with that insurer

 

[Benthic2]

Sometimes ,Cleanslate, I like to hold my winning hand close to my chest...Like a undiscovered anchorage or fishing spot, I'm selfish and don't want it ruined by everyone knowing about it...

I understand that approach with a fishing spot or anchorage, but not with insurance. Your risk is spread out over the pool of policy holders so a bigger pool is a good thing. Also, the Insurance Co can have more confidence in their calculations as the pool grows, as actual values will trend more towards the expected values as the pool grows. Less uncertainty should lead to lower rates.

 

[Simi 60]

Sometimes ,Cleanslate, I like to hold my winning hand close to my chest...Like a undiscovered anchorage or fishing spot, I'm selfish and don't want it ruined by everyone knowing about it.

Yeah, I'm with you on this.
Far to many out there with zero feks given
Maintenance, seamanship, , courtesy, actual skills, who needs em - I have insurance

Cyclones are a good example
Anyone with any idea stuffs boats up mangrove creeks to save their vessel.
Or the very least gets plenty of extra lines on if in a marina, or a kickarse anchor X lots
Sure, it's inconvenient
But responsible owners do it

Look how many boats stayed in dodgy spots and got wiped out.
Losses get passed onto me on the other side of the planet
Money I'd rather spend on extra levels of maintenance, chain, anchors, all the things that keep me low risk.
Responsible owners with skills should be rewarded.
Instead we are punished.

<Gets down off soapbox>

 

[rpackard]

Peter, (Pau hanna)

How do I contact you?

 

[Pau Hana]

Peter, (Pau hanna)

How do I contact you?

Smoke signal, carrier pigeon, you know, the usual….

Direct phone is 206-350-5051 or email peter@novamar.net at anytime!

P