The Insurance Trap Every Boat Buyer Needs to Know

Comments · 42

• BO

  @BoatsWorthBuying · 3 months ago · pinned

  I wrote a Playbook with the whole buy-it, own-it, and run-it-cheap system. The link is below if you want it, for less than a surveyor charges for an hour of his time. <a href="https://shorturl.at/BCZwE">https://shorturl.at/BCZwE</a>

• DU

  @DudleySchmedlap-s6i · 3 months ago

  I&apos;ve got over 50,000 miles at sea in small sailboats. I would NEVER insure a boat.

  7

• TO

  @Tony_Yachts · 2 weeks ago

  Just a quick note for anyone concerned about the boat featured in the thumbnail: the &apos;North&apos; (aluminum trawler) is a prime example of the &apos;known quantity&apos; boats underwriters love. Unlike the older, high-risk projects discussed in the video (like un-surveyable ferro-cement or corroding steel hulls), a well-maintained aluminum vessel like this is generally a dream file for insurance companies. Don&apos;t let the video&apos;s focus on &apos;uninsurable traps&apos; scare you away from high-quality, reputable builds! Always prioritize a clean survey regardless of the boat&apos;s material.

• JA

  @jackfischer5153 · 1 month ago

  I had a 1947 Chris Craft 37 footer approved from State Farm Insurance in about 10 minutes.<br>$65 Month.

• BI

  @BigDreamsBoating · 2 days ago (edited)

  Personally live on a 1979 Island Gypsy 44 RPH only 3 were ever made and the wife &amp; me love her our PB. Previous owner replaced tanks,wires,driveshafts,electronics and bow thrusters oh and fiberglassed teak decks not to mention old world solid fiberglass and teak beam construction with all bronze hardware. If you search you can find these ole gals I’m proud to own this boat and carry her legacy forward.

• RO

  @rolandrickperry208 · 3 months ago

  I look at these cheap boats as a floating party house. Rarely take them out, would never get them insured and if I can squeeze 4 years out of them I&apos;m happy.

  1

• CA

  @carsonphoto · 3 months ago

  Wooden boat owner here.<br>You can get liability insurance for about any boat if you look at smaller players in the industry.<br>You can even get it from some companies without a survey.<br>The marinas want liability coverage.<br>As far as coverage for replacement or repairs, forget about it. Unless it’s a pristine classic they won’t touch it.<br>Also even with just liability they will add all kinds of clauses about named storm, mechanical failure sinking etc so basically you are buying a piece of paper to appease the marina who requires it.

  12

• LA

  @Latitude-n-longitude · 3 months ago

  All boats of any model can be great and insurable, get a survey its that simple. Many are clapped out and a survey tells you that.<br>And most states don&apos;t require insurance, &nbsp;marinas usually do.

  6

• FO

  @fosterkennel649 · 3 months ago

  The older fiberglass trawlers or built with hand laid up a fiberglass and had real fittings and there&apos;s no comparison with the crap they&apos;re putting out today

  1

• JA

  @jackfischer5153 · 1 month ago

  If you pay cash and keep your boat on a mooring ball you don&apos;t need insurance.😮

• TA

  @targetspecies · 3 months ago

  Had a 32&apos; displacement launch 32mm Kauri hull powered by a 125HP Ford D series diesel first splashed 1955. Solid and heavy. After 15 years of ownership with zero claims the broker told me he couldnt get insurance cover. &nbsp;Then the Marina said we couldn&apos;t berth an uninsured boat there. &nbsp;So we finally sold it for pennies. End of an era.

  1

• GD

  @gdiup9241 · 3 months ago

  This sounds like AI voice, I don’t like it.

  14