Is it true?...insurance skyrocketing for Cape Dory boats?

[Edd]

Is anyone able to "shed light" on the rumor that insurance companies are jacking up the price (significantly) of coverage to owners of boats manufactured by defunct or "out of business" companies? Isn't this going to devistate the resale market for Cape Dory boats? How can we combat this? I am afraid that no one will be able to get financing on a boat that is no longer reasonably insurable. With no manufacturer to accept responsibility or defend the engineering do we just embrace "blind faith"?
Concerned.
Edd



Erogers711@AOL.com

[Harris]

I have encountered Allstate not writting boats 20 years old or older and various other companies requiring hull surveys for boats over a certain age. Try West Marine for their insurance.I saved significantly with no survey required on a 1972 boat.

Is anyone able to "shed light" on the rumor that insurance companies are jacking up the price (significantly) of coverage to owners of boats manufactured by defunct or "out of business" companies? Isn't this going to devistate the resale market for Cape Dory boats? How can we combat this? I am afraid that no one will be able to get financing on a boat that is no longer reasonably insurable. With no manufacturer to accept responsibility or defend the engineering do we just embrace "blind faith"?
Concerned.
Edd

hg@myhost.com

[Jim Parmentier]

Is anyone able to "shed light" on the rumor that insurance companies are jacking up the price (significantly) of coverage to owners of boats manufactured by defunct or "out of business" companies? Isn't this going to devistate the resale market for Cape Dory boats? How can we combat this? I am afraid that no one will be able to get financing on a boat that is no longer reasonably insurable. With no manufacturer to accept responsibility or defend the engineering do we just embrace "blind faith"?
Concerned.
Edd

I just got insurance for a newly purchased CD31 at rates that compared quite well with those for my 28 over the past several years. I don't see any major jump, and my broker didn't think the lack of current manufacturing would be a factor. This may vary from state to state, however.



jellicoe@aol.com

[Sam]

My insurance has remained the same for my 1985 boat. I should think Cape Dorys would be better insurance risks than say Hunters due to the fact that they are better built and should last much longer.

[Harvey Wilson]

Try West Marine for their insurance.I saved significantly with no survey required on a 1972 boat.

I've tried Wet marine for insurance on my boat, and found them nearly three times as expensive as Boat/US.

Harvey/Ga

s/v Stargazer



102072.2315@compuserve.com

[Ed Haley]

I can back up the claim that BOAT/US has reasonable and reliable insurance coverage. On a claim for damage to my teak toerail, they actually added $200. to the original estimate I submitted for repair. They said the estimate for repair was too low! The price of teak had risen and they increased the estimate without a request from me to do so. A check followed within two days.



eghaley@dreamscape.com

[Harris]

Funny..Wet Marine and Boat r' Us had Identical price quotes for my 72 23 footer. the only reason that I went with West was that US required several photos of the boat and mine is camera shy in her old age. I am only talking about $200/year in this case.The point is that I called half the telephone book for marine insurance and almost none would cover a 25 year old boat and the few that did required a hull surveyWith these two carriers it was no questions asked.

Try West Marine for their insurance.I saved significantly with no survey required on a 1972 boat.

I've tried Wet marine for insurance on my boat, and found them nearly three times as expensive as Boat/US.

Harvey/Ga

s/v Stargazer

hg@myhost.com

[Mike Thorpe]

Edd

What is the source of your rumor????

Mike

Is anyone able to "shed light" on the rumor that insurance companies are jacking up the price (significantly) of coverage to owners of boats manufactured by defunct or "out of business" companies? Isn't this going to devistate the resale market for Cape Dory boats? How can we combat this? I am afraid that no one will be able to get financing on a boat that is no longer reasonably insurable. With no manufacturer to accept responsibility or defend the engineering do we just embrace "blind faith"?

Concerned.
Edd

mthorpe@capecod.net

[mike]

My vote for insurance carrier is definitely Boat US.

After losing my engine and running aground, they were available, helpful and quick paying for the damage and covering all details.

I won't insure with anyone else!

mike



umci@localnet.com

[Bill Goldsmith]

I second the motion that Boat/US is very good. They place the coverage with CNA which is a fine company. I got one year for my CD27 for $349 which includes hull and liability. Also, insurance in general is experiencing a "soft" market meaning that there is alot of capital out there trying to underwrite insurance risk. There is so much competition, no one should be paying exorbitant premiums. Nip that rumour in the bud!

Bill Goldsmith
CD27 "Second Chance"

Is anyone able to "shed light" on the rumor that insurance companies are jacking up the price (significantly) of coverage to owners of boats manufactured by defunct or "out of business" companies? Isn't this going to devistate the resale market for Cape Dory boats? How can we combat this? I am afraid that no one will be able to get financing on a boat that is no longer reasonably insurable. With no manufacturer to accept responsibility or defend the engineering do we just embrace "blind faith"?
Concerned.
Edd

goldy@bestweb.net

[Harvey Wilson]

>> Funny..Wet Marine and Boat r' Us had Identical price quotes for my 72 23 footer. the only reason that I went with West was that US required several photos of the boat and mine is camera shy in her old age. I am only talking about $200/year in this case.<<

Stargazer is a 1979 Montgomery 17 trailer sailor w/ 1987 8hp Evinrude.
Boat/US covers her for about $87/yr, while W/M wanted $230/yr. Had a similiar quote from the marine insurance guy on CI$ Sailing forum before going with Boat/US.

Harvey/ Ga

s/v Stargazer



102072.2315@compuserve.com

[Walt Bilofsky]

I wouldn't worry about Cape Dory's being out of business as a factor for insurance. Even on the most cookie-cutter boat, lots of the stuff is from outside suppliers, or requires custom work to repair (like teak and fiberglass). I doubt the manufacturer is a big help in the cost of most repairs. The construction and seaworthiness of Cape Dorys is probably a bigger plus than a live factory would be.

We also have BOAT/US insurance. I've had two claims and been extremely happy with the friendly, hands-on service - an insurance company that is actually on my side!

I was so happy I wrote them a nice letter, and they used it in an ad. Here's what I said:

<blockquote>Since insuring my boat with BOAT/U.S. Marine Insurance, you've treated me like a member and not just a policyholder. I've saved about 40% (if memory serves) over my policy with Allstate, and your policy coverage is broader too.

When water got in our diesel fuel, we had to file a claim for the $1,200 it cost to get the boat towed and the fuel purged from the tank. BOAT/U.S. Marine Insurance sent a surveyor out right away. He checked the fuel dock and found that the filter on their pump was not a water separator filter. Result: the oil company paid the entire bill.

I also enjoy the boating safety tips in Seaworthy, your quarterly newsletter. I suppose the advice has helped me keep my boat afloat, which saves both of us money and helps everybody have a nicer day.</blockquote>

Normally I wouldn't post an ad, but both the ad and this post are unpaid testimonials, in my own words, so this is not a commercial post. I would also add, for fairness, that on the rec.boating newsgroup, whenever the insurance question comes up, although BOAT/US gets lots of support, there are always some who got a better price elsewhere. As always, shop around.






bilofsky@toolworks.com

[Craig Scott]

I just got a policy through USPS for my 1988 CD 28 at a cost of $150/yr. If you are not a member of USPS, I highly recommend it. It's great way to learn everything up to and including celestial nav.

I have encountered Allstate not writting boats 20 years old or older and various other companies requiring hull surveys for boats over a certain age. Try West Marine for their insurance.I saved significantly with no survey required on a 1972 boat.

Is anyone able to "shed light" on the rumor that insurance companies are jacking up the price (significantly) of coverage to owners of boats manufactured by defunct or "out of business" companies? Isn't this going to devistate the resale market for Cape Dory boats? How can we combat this? I am afraid that no one will be able to get financing on a boat that is no longer reasonably insurable. With no manufacturer to accept responsibility or defend the engineering do we just embrace "blind faith"?
Concerned.
Edd

rphscott@aol.com

[ROBERT MILLER]

I AM INTERESTED IN INSURING MY 1985 17' STINGRAY BOWRIDER WITH 470 MERCRUISER. THE BOAT IS TRAILERED AND USED BY ME, A 38 YEAR OLD SALES MGR. PLEASE E-MAIL WITH A QUOTE OR REQUEST FOR ADDITIONAL INFO.
THANKS,
ROBERT



miller6565@aol.com