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Old Boats and Insurance
I am looking for insurance for my old big boat. (83 foot, 1940's, twin 220
hp diesel..etc.) The boat is located mid East coast USA. Question- If I am interested in liability only coverage with 3 to $500,000 coverage...which companies should I speak to and what should I expect to spend? Many marinas are requiring proof of at least liability so I am guessing that others with older boats face the same challenges as I do. I am hopeful that the more experienced have found good coverage at reasonable prices. Currently I am being quoted around $2,500 for liability only and hear tales of others paying very little for the same type of liability only coverage. Hull coverage quotes run an additional $4500 for around a $100,000 of hull coverage with $10,000 deductible. (This was nearly impossible to locate due to age and length.) Due to the cost I am considering dropping and self-insuring the hull. Thanks for your help and I hope these questions are not inappropriate for this group. |
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