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Author Topic: DO NOT use Boat US to insure a rebuilt classic boat  (Read 827 times)

January 28, 2014, 11:52:04 AM
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Capt_E

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DO NOT use Boat US to insure a rebuilt classic boat
« on: January 28, 2014, 11:52:04 AM »
The rebuild of my 74 Aquasport 22-2 is done and I went out searching for insurance.  Called Boat US and they advised they needed receipts and photos to prove the value of the vessel.  I provided all requested documentation and more.  The first quote was for half of the value of what I provided proof for.  I spoke to the manager for over 30 minutes explaining the whole rebuild and everything that was added, materials, tower, electronics etc...  So I got a call back and the manager stated that all they could insure for was the same amount they stated originally.  

I asked what the point was to provide all the documentation and I received no answer for that.  He said he researched it with another manager and that's what they came up with.  I told him for what they wanted to insure it for I could barely replace the brand new 200 etec.  I would never use Boat US again and would not recommend any use them either for insuring any rebuilt classic boat.  They are clueless!

Any recommendations on what insurance company to use to insure a rebuilt classic boat?
1974 Aquasport 22-2

January 28, 2014, 12:00:50 PM
Reply #1

futch13

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #1 on: January 28, 2014, 12:00:50 PM »
I have used Allstate and State farm in the past.  Both have been good.  You will probably have to get a good survey/appraisal done to include what you are showing in receipts to get more than book value for it.  Had to do that for a 57 Chevy I rebuilt years ago.

January 28, 2014, 12:38:00 PM
Reply #2

wingtime

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #2 on: January 28, 2014, 12:38:00 PM »
I have Boat US for coverage for my 245.  Getting them to give me an appropriate hull coverage is not easy.  I still feel it is not enough but it's close enough for me.  So I can imagine getting enough coverage for a rebuild would not be easy.  You might be better off just titling the boat as a new custom built boat or something like that.  I also agree a survey would help with getting quote from other vendors.
1998 Explorer w/ Etec 250


1987 170 w/ Evinrude 90

January 28, 2014, 01:10:26 PM
Reply #3

MarshMarlowe196

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #3 on: January 28, 2014, 01:10:26 PM »
I had a hard time finding an insurance company that would insure my 40 year old 19-6 with a brand new outboard. I called Strickland Marine here in Charleston, and they did all the legwork for me. They found an underwriter based in Arizona that gave me fair coverage for a fair premium.
Key West 1720 / Yam C90

Sold: 1973 Aquasport 19-6

January 28, 2014, 01:28:01 PM
Reply #4

gran398

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #4 on: January 28, 2014, 01:28:01 PM »
My local agent is a Geico rep. We insured the rebuilt  '73 22-2 for the full amount. No questions, no problems, happy to do biz.

January 28, 2014, 02:58:25 PM
Reply #5

GoneFission

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #5 on: January 28, 2014, 02:58:25 PM »
I use Progressive for my boats and have "stated value" policies where you pay for the price you declare (within reason).  I've heard Geico does this as well.  I used State Farm for a while, but they jack the rates up when the boat reaches a certain age, as they really don't want to insure older boats.  My State Farm policy went up 250% in one year - when I called my agent I was told "your boat reached the age that State Farm does not like to insure."  So I switched to Progressive.  You can do an online quote at www.progressive.com
Cap'n John
1980 22-2 CCP
Mercury 200 Optimax 
ASPA0345M80I
"Gone Fission"
ClassicAquasport Member #209


January 28, 2014, 07:02:52 PM
Reply #6

Capt Matt

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #6 on: January 28, 2014, 07:02:52 PM »
If your going to guide from the boat try Charter lakes
They were the only company that would insure my 45yr old boat
Best rates anywhere, came recommended from my previous insurance company
Unseen $25k coverage with a survey what ever the value of the boat is
Capt Matt
www.captmattmitchell.com
Light tackle sportfishing

January 29, 2014, 03:51:26 PM
Reply #7

Capt_E

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #7 on: January 29, 2014, 03:51:26 PM »
Ended up going with Gallagher Charter Lakes.  Very quick and easy process as well as a reasonable rate.
1974 Aquasport 22-2

January 29, 2014, 10:25:13 PM
Reply #8

icemanbryan

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #8 on: January 29, 2014, 10:25:13 PM »
Quote from: "GoneFission"
I use Progressive for my boats and have "stated value" policies where you pay for the price you declare (within reason).  I've heard Geico does this as well.  I used State Farm for a while, but they jack the rates up when the boat reaches a certain age, as they really don't want to insure older boats.  My State Farm policy went up 250% in one year - when I called my agent I was told "your boat reached the age that State Farm does not like to insure."  So I switched to Progressive.  You can do an online quote at http://www.progressive.com
I had used USAA for years, insured about 8 boats total over 30 years or so.
They then used Progressive as an underwriter and that was fine.
I did a bunch of upgrades and changes, spent some bucks and wanted to get some back if ever there was a total loss.
When I called Progressive to up the insurance for a total loss, they balked big time, even with receipts and photos.
I called BOATUS and they asked for receipts and photos, they insured for the price I wanted, no problem.
I should add that my Osprey is a 1995.

February 02, 2014, 03:25:35 PM
Reply #9

czizza

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Re: DO NOT use Boat US to insure a rebuilt classic boat
« Reply #9 on: February 02, 2014, 03:25:35 PM »
I use nationwide. I got them last year paid 590.00 for an agreed value contract. Sandy hit and a tree fell into my boat (check my other posts). One chair was broken and my brand new cover got ripped. They paid me 700.00 in damages and in 20 days.

I asked if they did auto and home but unfortunately no for Long island.

 


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