Group: Members
Posts: 4896
Member No.: 67
Joined: February 10, 2011
My home insurance is with T/D Insurance and the policy provides $10,000. of coverage on the boat, motor and trailer for theft or damage. The boat is a 16.6 Legend Alsport, 40 hp Mercury 4stroke and a single axle Shorelander trailer.
They are all 24 years old, in very good shape and the amount is OK by me.
On the other hand, T/D will not provide any liability coverage on the boat because of its age.
Makes no sense to me.
What experience have others had in addressing an issue like this.
Group: Members
Posts: 4896
Member No.: 67
Joined: February 10, 2011
I should have added that the $10,000 of coverage is a "blanket type" of coverage where they don't even ask for specific details about the boat, motor and trailer.
Group: Members
Posts: 3725
Member No.: 25
Joined: February 10, 2011
It seems like there's more things added to the list every year when items are older than X, they won't cover them anymore unless you get them checked by a boat appraiser. My last item was a water heater, older than 10 years, no coverage. I'll take my chances, last time the plumber came in, he checked it and said that model will go a long time before it breaks down especially when it's in line with a water softener, no mineral build up.
Group: Members
Posts: 2244
Member No.: 15901
Joined: April 12, 2018
yeah as things get older the insurance companies don't want to take any risks, but are happy to take your money. I just switch auto insurance because they wanted to charge me 500 because I have one of the vehicles on their list of high theft. The way I look at it, I just got hit with a claim that I didn't even have. Worked out better for me in long run as I ended up saving that 500 and another 500. Only issue is my old quad. They will insure it but no fire or theft for 30 more dollars.
Group: Members
Posts: 938
Member No.: 10129
Joined: November 12, 2015
Not that this is professed to be a save-all/hard-n-fast rule.... My father looked to change his insurance policies every 2 years. Companies were eager to create new policies and it warranted lower premiums. Year 2 began the "incidental" premiums upward. I think most of us don't take the time or experience any enjoyment looking for new policies (probably counted on by insurers!), but savings seem easily gotten.
Boat Insurance, Liability Coverage
