Insurance

risctaker · Post by **risctaker** » Mon Mar 28, 2011 10:59 am

When I bought my 1970 Tri-Cabin "Basket case" I got a "No Survey" insurance quote from Progressive with Liability and a $5k hull coverage for about $450/year. Can't beat that!. You keep your rates low by not insuring the hull too high. Insurance companies get nervous when they see an old boat asking for $20-$30k of hull insurance. Just cover what you have to lose.

Frink98 · Post by **Frink98** » Tue Mar 29, 2011 8:38 pm

Hey all,

Currently I await getting pictures and Foremost-- through farmers insurance, will probably be my pic. Thanks Capt.

Will let you know the progress of the boat.

Captain Blast Off · Post by **Captain Blast Off** » Tue Mar 29, 2011 9:26 pm

Frink98 wrote:Hey all,

Currently I await getting pictures and Foremost-- through farmers insurance, will probably be my pic. Thanks Capt.

Will let you know the progress of the boat.

No problem; I had a claim on my smaller boat; has custom gelcoat they really came through for me with that claim can't even tell it had damage.

Have fun with your project; bring on the pictures.

Steve

prowlersfish · Post by **prowlersfish** » Wed Mar 30, 2011 6:53 am

risctaker wrote:When I bought my 1970 Tri-Cabin "Basket case" I got a "No Survey" insurance quote from Progressive with Liability and a $5k hull coverage for about $450/year. Can't beat that!. You keep your rates low by not insuring the hull too high. Insurance companies get nervous when they see an old boat asking for $20-$30k of hull insurance. Just cover what you have to lose.

We had a 30 foot Trojan sink at our marina last year . It had 5k of insurance . it cost 5k to get it floated . so he end up with nothing for the boat . I don't believe insurance companys get nervous the just what to make sure what it is worth and in seaworthy shape. Mine is insured for 55k and 500k liability cost around $800. better deal then 5k for $450 IMO

larglo · Post by **larglo** » Wed Mar 30, 2011 10:48 am

Odd, I have my F25 insured for $5000.00 plus libility for $ 234.00 yr through Progressive?

Isn't a Tri cabin in the range of 32 to 36 feet? This insurance thing is puzzling having so many different amounts of insurance on boats I'd hate to lose if I owned it?

Larry

prowlersfish · Post by **prowlersfish** » Wed Mar 30, 2011 1:16 pm

Tri cabin is 36 foot. Your should or can insure a boat for what is worth

In the case of that 30ft boat insured for 5k the paid to float it and the money was gone he ended up with nothing at all , he almost had to pay to get rid of the boat but found someone to take it for free.

Rates vary from company to company and area to area due to different risks