TOPIC: insurance

I have a 1960 Glasspar G-3 with a Merc 850Xs on it in FL. I have tried to get liability insurance for it, but nobody wants to carry it due to the age of the boat and the amount of HP. I am not looking for "collision" insurance, just liability. Anybody have thoughts on carriers to try?

Have you tried Hagerty ? They insure classic boat, cars, etc.
I don't know what their liability portion is like ? But the repacement part is an agreed upon value.

Boy, I feel for ya. Hagerty has refused to insure my hot rod and my boat (my Power Cat is a tunnel hull, and they said therefor it is a racing boat, and therefor...). I would have to check on who I have, but I got it through my independent agent who always takes good care of me. Seems they had to suggest it didn't go more than 35. I needed insurance to participate in ACBS events, otherwise would not have bothered. Seems to me it costs right around one thin Ben Franklin.

I don't get it with Hagerty. Everybody loves them but me I guess. Again, it was my independent agent that got me hot rod insurance, maybe Walker? Can't remember. If you want me to check on who they got for my boat, lemme know. I can check when I get home.

Good luck!

Frank

I've had good luck with Hagerty- But as Frank has experienced, they sometimes don't like to touch souped up or modified vehicles. I'd try them first- If they will write you a policy, they are some of the best out there. I'd really look in to the cost of a full policy covering the boat as well, It was really not much more for me to do that than liability alone, and it's worth it for the peace of mind!

-Andrew

Just tell them what your boat is a 13 foot runabout do not tell them it is modified or over powered.
I use Heritage Marine Insurance they had Zurich as the underwriters of the policy. Never had an issue I also never had a claim.
Most homeowner policies have rediculous guidelines and will under insure your boat anyway. Boat US may be OK to try but again your boat will most likely be under insured to your liking. If you have a vintage boat that you need covered to go to the people that specialize in it or go to your ins broker and make them do the work.

The more info you give them the more they have to come back at you with to refuse coverage. Under the same however do not try to insure an extreme scream and fly as a runabout. Tell them you have a 1960's G3 power yet to be determined it is rated for a 65 HP according to the MFG. They may also require a survey so get to know a good marine surveyor.
Good Luck

nj.: I agree with all the info above, & own a G-3 myself..The XS
would convey a speed item .. GRUNDY insurance was at Mt Dora / tavares show last March www.grundy.com/classicboats/ promoting the classic boat market.

If you keep striking out , try a 65 hp Merc on the G-3 & keep the 850 for a 16 ft , like the Super G ..!

we have american family on our 61 red fish 40hp....is attached to our homeowners....very few questions asked....full coverage boat motor trailer all life jackets, scuba gear etc. except no radios or sound equip.....$5.41 a month...john

You may have an issue with Heritage. I'm not sure they write in FL.

Bruce,

Haggarty will have a booth at Tavares. As said above, just tell them its a 13"6" runabout with normal horsepower. Haggarty attended our G-3 Rally and saw many G-3s that day! I think you can get a quote from them.

Jim S.

I have the Scimitars insured through Progressive, easy deal on the phone, not many questions, full coverage w/$500 deductable, 15K value, $370 a year, don't know how good a deal that is ?

Frank--Maybe Hagerty saw your Avatar?

We've had good luck with Grundy on our classic and hot rod cars (no experience with them on boats yet), but recently the question of good insurers came up on the Chrysler 300 Club forum, and it seemed almost everyone raved about Hagerty.

I agree with the comments that TMI is bad, but you have to be careful about not being truthful, as if there was a claim, they could use that to deny it. That said, I slipped one by my agent when I was insuring a 15.5' rigid hull inflatable with a 200 HP Merc XS (BTW, it's rated for a 90 HP, but I wanted the fastest inflatable on the river--long story). She was fortunately not knowledgable about boating, and when she asked how much horsepower the motor had, I said it was "ONLY 200." She asked if it was a V-8, and I said, "Oh no, it's only a 6-cylinder." She wanted to know how fast it went, and I said, "You know, I'm not really certain--I don't normally drive it wide open." Bottom line--I got the insurance. In my case, I really wasn't concerned about liability because I wouldn't risk taking anybody in it if I was going fast, but I was concerned about theft. The Sportmaster lower unit alone would be about $8K to replace. Fortunately I've never had any claims.

Shannon

I too would be cautious about being dishonest with your insurance company. ANY misleading facts could possibly be grounds to deny a claim. any claim. so you didn't take anyone out with you when you were going to rip WOT speeds... fine. but liability insurance isn't just to cover a passenger. it's to cover any damages your boat does. and if the stuff hit the fan and there was an accident or some environmental issue, etc... as soon as the insurance company saw that the boat that caused the damage wasn't a 13'6" runabout, they'd wash their hands of it and hang you out to dry. it's a huge risk to undertake. you'd be alot safer in the long run to keep looking for someone who would insure the boat as it actually is.

as a side note, i use Geico. i'm also not insuring anything near the caliber of your boat, so i don't know if they'd work for you though.

i agree there...their's a huge difference between talking to an agent and an adjuster....looking for any excuse to wiggle out of a claim seems to be the norm for today....a couple years a go we had a single mom doing house cleaning on the side for extra money...she had the rear windows on her van nicely lettered advertizing her cleaning service...progresives standard practice is to run the car in and do a compleat teardown so the adjuster can tell us what he will alow (no suplements)...he took one look at the lettering and denied the claim...(she didn't have a business policy)...our shop waved the teardown so i worked that day with no pay and the girl was left with a completly torn up van and no money....we would most likey be fine putting a 75hp power head in a fat 50 but 200 on a boat that the capacity plate says 90 would be a big red flag....not only would the adjuster have a cow but wildlife and parks (or whom ever) might become involved also....john

On a related note here, any you guys ever read Andrew Tobias' book "The Invisible Bankers"? If you have warm fuzzy feelings about your insurance company, DON'T read it...

It was written in the early 80's, but most of the basic premise is still very true. I don't remember where I got it, maybe the local library. It is a scathing indictment of the insurance industry by a now widely respected financial author.

andrewtobias.com/invisible.html