Insurance for 1985 44' Trawler

We're finding that very few insurance companies are willing to insure the 44' '85 trawler we purchased. For those of you with a similar vessel, what insurance have you found? Was it liability only or full coverage? We're in the SW Florida area.
Thanks!

Have you tried going through BOAT US?

Yes, they won't touch a boat of that size and age.

MY 1963 Vega has a stated value policy with NO, named storm coverage.
I chose a high deductible ($5000), $60,000. stated value, around $1250 for
premium per year. Price has gone up about $200 in 6 years. I am with USAA/
Markel American Insurance. No claims, but good to talk with when I've had questions. I was in Fort Lauderdale, now I'm near Labelle

there are a lot of things underwriters consider when insuring a vessel, years of experience often go a long way.
there's an insurance guy on the forum, Peter, his handle is Pau Hana, he can be very helpful with these matters. he's a busy guy, so sometimes doesn't respond to pm's, but he's got an office number you can call. don't have the number handy right now, but can find it if needed.
my boat is much older than yours, and i have a good yacht policy on it. you'll need a good survey in hand, presumably you got one when you purchased the boat. if not you'll need to get that done.

Thank you. If you have his number that would be very helpful!

nageldan said:

Thank you. If you have his number that would be very helpful!

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sent you a pm

When we sold our 1987 last year the buyers joined MTOA. They were able to get a policy through the MTOA yacht insurance program.

nageldan said:

Thank you. If you have his number that would be very helpful!

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My direct line is 206-350-5051, good sir, and email is peter@novamar.net

https://www.hagerty.com/insurance/boat-insurance/
Wood or older boats. also boats under refit.

Lepke said:

https://www.hagerty.com/insurance/boat-insurance/
Wood or older boats. also boats under refit.

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Underwritten by Markel.

I have a 87 Trawler and use Red Shield Insurance out of Portland, OR Full Coverage.

SaltyDogg said:

I have a 87 Trawler and use Red Shield Insurance out of Portland, OR Full Coverage.

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I have an 83. I also insure with Red Shield. As far as I know they only write policies for the NW of the US. They do require a minimum of 3 yrs experience.

From Red Shield's web site

"Based in Portland, Oregon, Red Shield’s western regional scope covers the states of California (floating property only), Idaho, Oregon, Utah and Washington. Our regional focus and size allows us to offer a level of service which requires the least effort from our customers and agents. Understanding the market, and how business is done in the Pacific Northwest, is critical to the success of Red Shield Insurance Company."

Hagerty insurance is US & Canadian waters to 25 miles out.

I'll give a second on Peter for insurance needs. He found us great insurance and helps us navigate it when we need to add riders or change as we cruise.

American Family

Last month I got full coverage for a 1984 38' twin diesel with a stated value of $60k for $430 premium a year with $2.5k deductible. I was honestly really shocked as I got another quote from State Farm with the same coverage for $1,200.

38 Fu Hwa said:

Ladt month I got full coverage for a 1984 38' twin diesel with a stated value of $60k for $430 premium a year with $2.5k deductible. I was honestly really shocked as I got another quote from State Farm with the same coverage for $1,200.

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Be sure to read that AmFam policy very carefully- it is a policy where you teyly get what you pay for…it is full of landmines.

Good to know. First time with a marine policy. Anything in particular that is troublesome in the policies I should review for?

38 Fu Hwa said:

Good to know. First time with a marine policy. Anything in particular that is troublesome in the policies I should review for?

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Yes- the AmFam policy is a Chinese menu- they sell on a low price. Additional coverages are usually available (like agreed value settlement, wreck removal, pollution, medical, etc.), but at additional cost. It’s assumed you want the lowest price possible, so AmFam often never offers any additional coverages.

I can review if you’d like.

Pau Hana said:

Yes- the AmFam policy is a Chinese menu- they sell on a low price. Additional coverages are usually available (like agreed value settlement, wreck removal, pollution, medical, etc.), but at additional cost....

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Called "drip pricing" here. Main offenders are airlines, some car companies ("oh, you want wheels on it?")etc.

nageldan said:

We're finding that very few insurance companies are willing to insure the 44' '85 trawler we purchased. For those of you with a similar vessel, what insurance have you found? Was it liability only or full coverage? We're in the SW Florida area.
Thanks!

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My 1985 43' Ocean Alexander on Lake Michigan. Hull value $165,000 with 1% deductible. $1mil liability. Annual premium $1,250 Auto-Owners Yacht policy. I'm the insurance agent.

hawksin7 said:

My 1985 43' Ocean Alexander on Lake Michigan. Hull value $165,000 with 1% deductible. $1mil liability. Annual premium $1,250 Auto-Owners Yacht policy. I'm the insurance agent.

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Who’s the carrier? Survey requirements and is there a layup over water? Agreed value partial and total loss?

Inquiring minds wish to know…

My 1979 44’ Marine Trader is insured through GEICO which I believe US Boats are the underwriter. I found at the time of purchase that many insurance companies will not insure yachts of my size unless the owner/captain had at least three years experience operating a yacht of similar size. Because I was a novice at the time GEICO was my only option and I’ve stayed with them ever since.

Pau Hana said:

Who’s the carrier? Survey requirements and is there a layup over water? Agreed value partial and total loss?

Inquiring minds wish to know…

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Carrier is Auto-Owners. Survey required. Winter layup is 11/1-4/1. Replacement Cost coverage if partial loss. Policy limit if total loss and deductible waived.

I have my 1984 Uniflite 42 insured by State Farm. Simple process. Easy to work with.

Insurance on older hulls

hi

We have a 1988 Defever 44. We use Russell Jamieson at Atlass insurance group. Rjamieson@atlassinsurance.com

We ended up with Progressive and have $150K coverage with most of the stuff you would want. Fuel spill coverage, dinghy coverage, out to 75 miles offshore, etc.

My understanding is on hulls over 30 years old, they want/like to keep it at or below $150,000.00. Coverage. We pay just under $1600 per year and have auto renewal which has had only very minimal increases the last two renewals, like $40. My boat is more like $185k value, so I self insure the additional $35

I have a Captains license and that seemed to satisfy any concerns with my ability, but documented experience would likely keep them happy without that.

I had a pre purchase survey done 2 1/2 years ago and, of course, they wanted the items that were listed as immediate action done, well, immediately . They have not asked, nor have I inquired, if they will ever want another one in the future.

You may also try owners group on the internet. They sometimes have agents that are members, well versed in the specific manufacturer and are able to secure insurance where others have trouble doing so.

Good luck!