1. Use the full 4 digit year for everything you are asking your question about. Example: 1962, 1988, 2000, 2011
2. Include the correct name of your Whaler model. Example: Montauk 17, Montauk 170, Outrage 26, Outrage 260
3. Include the length when necessary. Example: 16, 17, 18, 20, 22
4. Do not post your email address anywhere on this site as it is already in your user profile.

Insuring a Classic
charkbait	#1  Posted on 01/28/09 - 7:35 AM
Member Posts: 82 Comments: 0 Joined: 08/01/08	How do you guys do it? What the boat is worth to me and the $ I dumped into it are a far cry from what I think the policy would end up being for. I'd like to have it covered for about $6K, my guess would be $2500 from the insurer if there isn't a special policy for this type of thing.
Jeff	#2  Posted on 01/28/09 - 7:45 AM
Member Posts: 1987 Comments: 34 Joined: 04/02/05	I have insured all of my Whalers through Larry Goltz's agency who goes by LHG on CW and Finnegan here. His son Larry is actually my agent. The boat is insured through Safeco for the boat's fair market value and not the nonreality based NADA value. To do this I have had to provide a detailed list of equipment on the boat and an itemized list of values, a general write up on the motor and motor's condition and their values, a detailed outline of work recently performed on the boat or motor, and images help as well. So long as everything is in line with what would fit a fair market value, the policy will be able to underwritten and your boat will be insured. He can write policies in I believe all 50 States so contact him via PM or I can send you His sons contact. The prices for their policy are very reasonable and when I had to file a claim, Safeco was very good to work with. Happy all around. Edited by Jeff on 01/28/09 - 7:52 AM
moose	#3  Posted on 01/28/09 - 8:11 AM
Member Personal Page Posts: 543 Comments: 1 Joined: 03/07/07	I know Jeff's been really happy with that service, but just for an alternative, I went thru USAA who uses Progressive for marine coverage. They insured the boat for whatever I told them it was worth. the premium is adjusted to the amount of coverage you want. I haven't had a claim, so I can't tell you anything more about how satisfied I am with the company. Mike Edited by moose on 01/28/09 - 11:47 AM
charkbait	#4  Posted on 01/28/09 - 8:17 AM
Member Posts: 82 Comments: 0 Joined: 08/01/08	I have a buddy who is the marine adjuster for Progressive, I got a different answer then you gave me moose. May want to check into how a claim would be handled in the event of damage. A stolen boat or total loss is one thing but hitting a rock or piling may not get you what you want. Thanks for the feedback.
Guts	#5  Posted on 01/28/09 - 9:31 AM
Member Personal Page Posts: 612 Comments: 8 Joined: 11/21/08	I'm, with State Farm there is a price for the boat the trailer, should the boat be lost at sea they would not pay for the trailer.I told my insurance guy what each piece was worth.This is mine on my Montauk17 1981 and 1986 trailer. boat,equipment,motors 13,200.00 boat trailers 1,500.00 deductibles 250.00 watercraft liability 100,000.00 watercraft medical(each person) 1,000.00 Premium 170.00 safety course discount 19.00
mikejana	#6  Posted on 01/29/09 - 12:19 PM
Member Posts: 14 Comments: 0 Joined: 10/03/05	I have been a USAA member for almost 25 years. They were worthless after hurricane Ivan; house, boats, cars were just mediums for them to steal from me. I am trying to replace them in steps, my newer boats are still with USAA/Progressive. My classic whaler and classic cars are with Haggerty, they were marvelous after the hurricane, quick vist and agenerous check on the spot. If Jeff is recommending LHG, give him a call. USAA is not what they used to be. Mike
kamie	#7  Posted on 01/29/09 - 6:27 PM
Member Personal Page Project Albums Posts: 2975 Comments: 3 Joined: 11/04/05	I wanted to put in another plug for Larry's company. My 18 is insured thru Global Marine for the value I set. Great folks to work with.
MW	#8  Posted on 01/30/09 - 1:26 AM
Member Personal Page Posts: 1827 Comments: 10 Joined: 01/08/06	I use state farm, I think I'm covered for about $6000, it's pretty cheap ins., and although the craft is worth over 1 million to me, it's an older hull ('76), and it has a plain Jane '04 leftover Johnson 50 hp, on it. Something that I've learned from is "Don't make it look too pretty, or some dirt bag will steal it".
ioptfm	#9  Posted on 01/30/09 - 4:56 PM
Member Personal Page Posts: 1533 Comments: 3 Joined: 10/28/06	I'm also with State Farm and they let me put a value on it and based the rate accordingly Tom 1979 Sport 15'
kitty	#10  Posted on 01/30/09 - 6:10 PM
Member Posts: 68 Comments: 0 Joined: 12/23/07	yea, I agree. I have my insurance with J Byrne in cape may. I have a 1988 15 ss. It is totally redone with a new 2008 e-tec 60 hp. I have about 14,500 into the boat after i bought it and they would only insure it for 8,000. I keep it in a garage, and my biggest risk I think is gettin hit by a car on the trailer. But, thats all they would do, so.........thats it. Its only about $100 dollars a year but if the boat got totally smashed, Im out. Thats why i sleep in the garage.
Binkie	#11  Posted on 01/31/09 - 4:32 AM
Member Personal Page Posts: 2012 Comments: 0 Joined: 12/19/05	My boats are insured with State Farm through my homeoners policy. They are insured for the value I put on them. They send someone out to take pictures. State Farm will be canceling homeowners and boat insurance in Florida at some point in `09-`10, so I will be looking elwhere for insurance, auto included, scrxw them. LOL rich Rich
Cy	#12  Posted on 01/31/09 - 7:03 PM
Member Posts: 77 Comments: 0 Joined: 03/23/08	Most companies will let you state a declared value for insurance coverage but they may want justification if you are outside of typical prices. As always, pictures and receipts can be your best friends. As an adjuster working a claim for major loss, without a stated value, I would look at the boat' market value using anything I could find that showed current prices - NADA, boats.com, local newspaper ads, etc. to establish an average value. Then the question became how did the damaged boat differ from average -condition, hours on the engine, additional equipment, etc. Once I knew current value we could make a repair/total decision. All this is good when dealing with your insurance company but, when you file a claim against the other insurance company, they are not bound by your declared value. In general terms, State Farm and USAA, have been known in the past to have higher rates and more generous loss payments. Good when you have a claim, not so good when you have a claim free history. Cy Documentation is your friend