Insurance
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- Full Steam Ahead
- Posts: 340
- Joined: Sat Oct 08, 2011 12:58 am
Insurance
Hi There,
I have a question for folks in the colonies (not the one with kangaroos), what do you do about insurance on your steam boats ? Since I am in Rhode Island and not for hire I am not required to have a boiler inspection, nor do I particularly want to play with inspectors. so I am pretty sure I wont get someone to insure the drive train. Is it possible to get a liability policy that covers all but the power plant ? That way if I run someobody down while I am pulling a water skier I will be covered.
jon
I have a question for folks in the colonies (not the one with kangaroos), what do you do about insurance on your steam boats ? Since I am in Rhode Island and not for hire I am not required to have a boiler inspection, nor do I particularly want to play with inspectors. so I am pretty sure I wont get someone to insure the drive train. Is it possible to get a liability policy that covers all but the power plant ? That way if I run someobody down while I am pulling a water skier I will be covered.
jon
- fredrosse
- Full Steam Ahead
- Posts: 1906
- Joined: Fri Nov 20, 2009 5:34 am
- Boat Name: Margaret S.
- Location: Phila PA USA
- Contact:
Re: Insurance
Hagerty Classic Marine Insurance Agency 800 762 2628
An example:
Watercraft Liability $300k
Accidental Fuel Spill $854k (not that most of us would need this, but it comes with the package)
Personal Effects 100 Deduct $2500 per Accident
Uninsured Boaters $300k
Commercial Towing $1000
Medical Pymts $10000 per person
Boat $34k 5% deduct
Trailer $1500
$455 per year
Had to get (and pay for) marine inspector for valuation $200
An example:
Watercraft Liability $300k
Accidental Fuel Spill $854k (not that most of us would need this, but it comes with the package)
Personal Effects 100 Deduct $2500 per Accident
Uninsured Boaters $300k
Commercial Towing $1000
Medical Pymts $10000 per person
Boat $34k 5% deduct
Trailer $1500
$455 per year
Had to get (and pay for) marine inspector for valuation $200
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- Full Steam Ahead
- Posts: 340
- Joined: Sat Oct 08, 2011 12:58 am
Re: Insurance
Thanks Fred !
Are you going to make the meet on saturday with your new paddle set up ?
jon
Are you going to make the meet on saturday with your new paddle set up ?
jon
- fredrosse
- Full Steam Ahead
- Posts: 1906
- Joined: Fri Nov 20, 2009 5:34 am
- Boat Name: Margaret S.
- Location: Phila PA USA
- Contact:
Re: Insurance
Hopefully. Lake Noximixon on Saturday
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- Lighting the Boiler
- Posts: 21
- Joined: Wed Jul 18, 2012 2:45 pm
- Boat Name: Kaimiloa
- Location: Honolulu, HI
Re: Insurance
Can't get anyone to insure mine. It's covered by my homeowners at home on the trailer and by my auto policy when in tow but no one will insure it at all on the water here in Hawaii.
Had one company tell me they couldn't insure it because it runs on wood. They said that was too flammable and the risk of fire onboard was too great.
Another company actually told me that they couldn't insure me because my proximity to the ocean was too great in Hawaii compared to other places and that made to much of a risk for possible sinking.
Had one company tell me they couldn't insure it because it runs on wood. They said that was too flammable and the risk of fire onboard was too great.
Another company actually told me that they couldn't insure me because my proximity to the ocean was too great in Hawaii compared to other places and that made to much of a risk for possible sinking.
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- Full Steam Ahead
- Posts: 340
- Joined: Sat Oct 08, 2011 12:58 am
Re: Insurance
Looks like I may have an issue as well. I Emailed Hagertty and they replied saying they would not insure a "converted" sailboat hull. I am wondering if I would have better luck it I had a marine survey done and sent that to them.
jon
jon
- Mfoxchicago
- Full Steam Ahead
- Posts: 161
- Joined: Sat Jun 01, 2013 11:59 pm
- Boat Name: PS Tule Princess
- Location: San Angelo, Texas
- Contact:
Re: Insurance
Hey Jon, I'm waiting to hear back from my Agent here for an insurance quote as well - it has taken over 3 wks now & still waiting. I am hoping it does not make me grab my chest and dial 911. When I hear what & who underwrites my venture here, I will pass that info along to you. Good Luck.
Capt. Mack H Fox
TULE PRINCESS STEAMBOAT CO.
Lake Nasworthy, San Angelo, Texas
Follow us as:
Facebook - @Tule Princess
Twitter - @tuleprincess
Website - www.tuleprincess.com
TULE PRINCESS STEAMBOAT CO.
Lake Nasworthy, San Angelo, Texas
Follow us as:
Facebook - @Tule Princess
Twitter - @tuleprincess
Website - www.tuleprincess.com
- TahoeSteam
- Full Steam Ahead
- Posts: 813
- Joined: Fri Mar 07, 2014 5:38 am
- Boat Name: Wayward Belle
- Location: South Lake Tahoe, CA, USA
- Contact:
Re: Insurance
Anyone else have any current experience with insurance? Working on getting the big boat insured.
~Wesley Harcourt~
https://www.youtube.com/c/wesleyharcourtsteamandmore
https://www.youtube.com/c/wesleyharcourtsteamandmore
- cyberbadger
- Full Steam Ahead
- Posts: 1123
- Joined: Thu Nov 07, 2013 9:16 pm
- Boat Name: SL Nyitra
- Location: Northeast Ohio, USA
Re: Insurance
TahoeSteam,
I'm in Ohio and with Nyitra I went with Progressive because I already had them for car insurance.
I made sure they understood that there would be a fire on the deck and a vessel with a lot of pressure in it.
They said that they understood it was a steamboat as I had said but were more interested in the max speed and HP for their insurance purposes. I told them Nyitra has a 6HP and an absolute maximum of 15mph(Which I doubt I'll be able to achieve) and got a pretty comprehensive package that is $200/year or so. I get discounts because I'm bundling insurance and I'm a 5+ with no accidents and no claims.
No boiler inspection was mentioned by Progressive.
I had talked previously with the State of Ohio inspectors and they are through the Department of Commerce Division of Industrial compliance. They said they don't really do boats. They said I could put my boiler on a stationary rig with one of my engines and that they could inspect the boiler and certify that arrangement in Ohio for public shows (Think Steam Traction Engines and Stationary Steam shows) - but not a boat.
I feel I have done my due diligence, and since my boiler is a brand new ASME Code & Stamped boiler manufactured in 2015 I am not worried much for the time being. I'm going to do a 125% pressure hydro test yearly myself and do my own visual inspection.
However in 3-5 years I would really appreciate some independent inspection by some authority...
-CB
P.S. They asked me the value of Nyitra and I put it at $25,000. If Poseidon must take it, I really only want enough to buy a new boiler and engine. I know the price I paid for the boiler $9000, and engine $2000. The hull was $1000. The trailer $2500. My time and all of the parts and new plywood, paint, etc I really can only guess at and don't want to know!
I'm in Ohio and with Nyitra I went with Progressive because I already had them for car insurance.
I made sure they understood that there would be a fire on the deck and a vessel with a lot of pressure in it.
They said that they understood it was a steamboat as I had said but were more interested in the max speed and HP for their insurance purposes. I told them Nyitra has a 6HP and an absolute maximum of 15mph(Which I doubt I'll be able to achieve) and got a pretty comprehensive package that is $200/year or so. I get discounts because I'm bundling insurance and I'm a 5+ with no accidents and no claims.
No boiler inspection was mentioned by Progressive.
I had talked previously with the State of Ohio inspectors and they are through the Department of Commerce Division of Industrial compliance. They said they don't really do boats. They said I could put my boiler on a stationary rig with one of my engines and that they could inspect the boiler and certify that arrangement in Ohio for public shows (Think Steam Traction Engines and Stationary Steam shows) - but not a boat.
I feel I have done my due diligence, and since my boiler is a brand new ASME Code & Stamped boiler manufactured in 2015 I am not worried much for the time being. I'm going to do a 125% pressure hydro test yearly myself and do my own visual inspection.
However in 3-5 years I would really appreciate some independent inspection by some authority...
-CB
P.S. They asked me the value of Nyitra and I put it at $25,000. If Poseidon must take it, I really only want enough to buy a new boiler and engine. I know the price I paid for the boiler $9000, and engine $2000. The hull was $1000. The trailer $2500. My time and all of the parts and new plywood, paint, etc I really can only guess at and don't want to know!
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- Steam on Deck
- Posts: 55
- Joined: Fri Jan 29, 2016 3:56 am
- Boat Name: victoria
Re: Insurance
We went with State Farm after being with Allstate for 40 years, they dropped us cuz NOW we are in a "fire zone", funny we weren't for the last 30 years we've lived here! State Farm didn't seem to care about the steam part of the boat just the hull material, they weren't happy about wood but got over it when it was pointed out it's covered in fibreglass, and I pointed out it runs on diesel. rp