Since it’s been a few years since we covered this topic we thought we’d do a quick poll. How difficult was it for you to find insurance for your wooden or homebuilt boat? Feel free to to suggest companies and to add details in the comments below. —Eds
I was able to get a Markel Watercraft policy, through Hagerty, for my Caledonia Yawl in 2023. It is still active but is mostly for the liability coverage required by my local marina. The boat itself is only covered for the agreed value of $6,000. More than I paid for it, but much less than the replacement cost.
Liability for my home built sailboat through BoatUS/Geico required sending a link to the plans plus a few of the receipts and some photos. $104/year gets almost $1M environmental spill coverage. The only liquid I’m likely to spill is beer, but if some PWC veers to avoid me and T-bones a tanker someone may try to sue. Maritime law seems tricky. Plus some marinas require a policy.
I had two boats a while ago and insured both of them through American Family Insurance. I did have vehicle and home insurance with them also and they took on the caledonia yawl with no problem.
Geico Marine through Boat US has been very easy for me to deal with. I have a CLC Pocketship. When I first acquired the boat and contacted them they said no problem you just need to have a marine survey done. My local Marine dealer came out and did an assessment of the boat provided me appraisal paperwork for the boat and the trailer. For this small boat it did not cost much about $20.
The policy I have is an agreed value. Based on the appraisals I provided Geico I was able to split the policy between the value of the boat and the trailer. Since the policy covers both the boat and the trailer, I have on water towing services and trailer towing if I were to have a breakdown on the road.
My original policy was 5 years ago and I contacted them last fall to say I have this wooden kit boat which is actually probably worth more now as the kits are nearly twice as much as when the boat was built. On an agreed value policy they said no problem you can submit a new evaluation and we'll come up with a new agreed value and adjust your premiums.
Because I keep the boat at home and not in a marina that makes the rates pretty cheap I think I pay about $250 a year. You may get away different answer if your boat sitting in the marina somewhere. Anyway I have been happy although I've never had a claim so you never know until that happens.
I would encourage you to look into the boat US Geico policies. You do not have to be a member of both us to get a policy
I use Hagerty. Markel is the underwriter. Once they understood my wooden boat had an amazing pedigree (I supplied documentation including a survey, magazine articles, photos, etc) they were helpful and provided the needed liability, hull and offshore coverage. However, they were not willing to let me change the electric motor battery bank from lead acid AGMs to Lithium Iron Phosphate batteries for fear of fires. I’m not sure that was a wrong decision on their part. I’m still on the fence regarding the newer technology and more so since the recent Battleborn chatter. It seems that poorly installed systems aren’t the only culprit.
Insured on the trailer, under tow, in garage, and/or being transported on the vehicle, through auto and homeowners. Otherwise uninsured, but mine are all small and homemade, except a Portaboat.
Good topic, but can we please expand this to older production boats too? I would love to never hear "Sorry, we don't insure boats that old" ever again. Grandfathering helps, but has led to my various boat being insured with different companies, and a renewed challenge of finding insurance every time some new joy follows me home. Advice welcome!
I do not and never have had a separate insurance policy on my boat other than that covered by my homeowners insuance policy which is pretty minimal. Here in BC Canada, where I live and sail, my homeowners insurance covers me for $2 million liability insurance for boats less than 26 feet and powered by an outboard of less than 15 hp. So, since all of the boats I have owned have all been less than 26 feet, and powered by outboard motors of less than 10 hp I have considered myself to be insured. The boats have all been of a low enough value that I have always been comfortable self insuring them in the event of damage or loss. When i have kept my boats at lical marinas, i simply provided them with a copy of the first page of my home owners insurance as proof of liability insurance. Trailers are another matter. They are insured individually under our government owned insurance company, the Insurance Corporation of British Columbia, ICBC.
Nereid is insured under our homeowner's policy. No problem, just a rider for the boat and trailer. Our auto insurer did not wish to be bothered.
I decided to self insure
I never got insurance. The last time I used a Marina was 1987 and I don't think they required insurance then. Otherwise it didn't seem worth it.
I was able to get a Markel Watercraft policy, through Hagerty, for my Caledonia Yawl in 2023. It is still active but is mostly for the liability coverage required by my local marina. The boat itself is only covered for the agreed value of $6,000. More than I paid for it, but much less than the replacement cost.
Liability for my home built sailboat through BoatUS/Geico required sending a link to the plans plus a few of the receipts and some photos. $104/year gets almost $1M environmental spill coverage. The only liquid I’m likely to spill is beer, but if some PWC veers to avoid me and T-bones a tanker someone may try to sue. Maritime law seems tricky. Plus some marinas require a policy.
I had two boats a while ago and insured both of them through American Family Insurance. I did have vehicle and home insurance with them also and they took on the caledonia yawl with no problem.
Answered Other: No problem getting insurance on my B&B Marissa 18’ Motorboat but impossible to get on my B&B Core Sound 17 with 2hp motor.
Geico Marine through Boat US has been very easy for me to deal with. I have a CLC Pocketship. When I first acquired the boat and contacted them they said no problem you just need to have a marine survey done. My local Marine dealer came out and did an assessment of the boat provided me appraisal paperwork for the boat and the trailer. For this small boat it did not cost much about $20.
The policy I have is an agreed value. Based on the appraisals I provided Geico I was able to split the policy between the value of the boat and the trailer. Since the policy covers both the boat and the trailer, I have on water towing services and trailer towing if I were to have a breakdown on the road.
My original policy was 5 years ago and I contacted them last fall to say I have this wooden kit boat which is actually probably worth more now as the kits are nearly twice as much as when the boat was built. On an agreed value policy they said no problem you can submit a new evaluation and we'll come up with a new agreed value and adjust your premiums.
Because I keep the boat at home and not in a marina that makes the rates pretty cheap I think I pay about $250 a year. You may get away different answer if your boat sitting in the marina somewhere. Anyway I have been happy although I've never had a claim so you never know until that happens.
I would encourage you to look into the boat US Geico policies. You do not have to be a member of both us to get a policy
I use Hagerty. Markel is the underwriter. Once they understood my wooden boat had an amazing pedigree (I supplied documentation including a survey, magazine articles, photos, etc) they were helpful and provided the needed liability, hull and offshore coverage. However, they were not willing to let me change the electric motor battery bank from lead acid AGMs to Lithium Iron Phosphate batteries for fear of fires. I’m not sure that was a wrong decision on their part. I’m still on the fence regarding the newer technology and more so since the recent Battleborn chatter. It seems that poorly installed systems aren’t the only culprit.
Insured on the trailer, under tow, in garage, and/or being transported on the vehicle, through auto and homeowners. Otherwise uninsured, but mine are all small and homemade, except a Portaboat.
Good topic, but can we please expand this to older production boats too? I would love to never hear "Sorry, we don't insure boats that old" ever again. Grandfathering helps, but has led to my various boat being insured with different companies, and a renewed challenge of finding insurance every time some new joy follows me home. Advice welcome!
Liability only, no coverage for damage to the boat itself. Older boat's coverage is grandfathered, fortunately.
Needed insurance to keep my boat on a slip for the summer. Getting a survey helped getting insurance.
I am having difficulty getting liability coverage. I gave up on hull damage for my boat.
I've only purchased insurance for a commercially manufactured boat so I can't comment.
I do not and never have had a separate insurance policy on my boat other than that covered by my homeowners insuance policy which is pretty minimal. Here in BC Canada, where I live and sail, my homeowners insurance covers me for $2 million liability insurance for boats less than 26 feet and powered by an outboard of less than 15 hp. So, since all of the boats I have owned have all been less than 26 feet, and powered by outboard motors of less than 10 hp I have considered myself to be insured. The boats have all been of a low enough value that I have always been comfortable self insuring them in the event of damage or loss. When i have kept my boats at lical marinas, i simply provided them with a copy of the first page of my home owners insurance as proof of liability insurance. Trailers are another matter. They are insured individually under our government owned insurance company, the Insurance Corporation of British Columbia, ICBC.