Steam boat insurance

[Tunneltug]

Does anybody have any ideas about steam boat insurance other than the two companies that advertise in the "Funnel" because I haven't had much success with them, one quoted silly money and the other has gone on holiday for a week. Do I have to have specialised steam boat insurance or will ordinary boat insurance (at 1/3 the price) do

Thanks in advance

Keith

[gondolier88]

Hi Keith,

It's really an issue you need to take up with the insurance companies- first find out who the underwriters of the policy are; you may strike lucky and find they are one and the same, if so there shouldn't be a problem, but contacting the underwriters may be a good way to go to make sure they are the same policy. If they are underwritten by different companies then a little bit more work will be needed, contacting both underwriters to make sure they provide the necessary cover.

Also, although you may have given the same information to all the providers you contacted, the specialist providers are just that- they are used to providing tailored cover to the boats they insure- for example, are the cheaper insurers willing to accept the word of SBA nominated boiler inspectors, or will they specify their own (VERY expensive) boiler inspectors? Do the cheaper insurers understand that a 10hp steamboat may be swinging a 24" bronze propeller and not a high-revving cheap aluminium 10hp outboard prop', providing the necessary cover, and more inportantly willing to pay out in the case of damage. Also, many cheaper companies may have more complicated (more expensive) excess process.

On the other hand, asking the specialists what you get for the money and asking the cheaper ones if they insure other steamboats and how their cover compares to the specialists may be the simple way to go.

Let us know how you get on.

Greg

[Gudmund]

Following on from Greg's comments, you need to decide if you actually want/need to insure your boat fully comprehensive, or are prepared to take the risk and only have 3rd party cover. I have been told there is an insurer who will do 3rd party and who does not require a boiler test! Many boats have gas installations and/or still use petrol engines and, unless on the inland waterways, require no testing of installations. These can pose a far greater risk than a steam launch boiler.
Gudmund

[daysaver1]

Testimonial: Last summer my steamboat rammed a docked day cruiser ($$$$$). Although I was barely moving, the repair estimate for the cruiser's steps and stainless rub rail was painful even to think about. Turns out my home owner's insurance (State Farm) paid in full. It should be noted that when we first bought our boat, it had a State Farm decal afixed, but my local State Farm agent of many years said he couldn't specifically insure the boat. Go figure!!

[farmerden]

Sometimes your Home-owner policy may cover your boat if it is under so many horsepower and under a certain length. But if you mislead them they don't pay [they'll use any excuse not to pay] It's a catch 22 situation-If you take your buddy out and he falls overboard ,you can bet someone will sue! steam or not! I used to insure mine -$900 a year for the 5-6 times I used it.But it was insured when it was stored in my barn,but not if I hit it with my tractor,but if a plane fell out of the sky and hit it ,It was covered [I kid you not! Stupid eh!] Den

[87gn@tahoe]

I think I remember seeing somewhere that Haggerty insurance will cover steamboats. They cover classic cars too.

[PeteThePen1]

Hi Keith & steamboating friends

I thought I had better jump in here wearing my SBA Hon Sec Hat. Do have a look at this page Keith (http://www.steamboat.org.uk/insurance.htm) as there are actually three sources. Blue Fin has served the SBA under various names (eg. Bishop Skinner) for many years and handle the Association's PL cover. So, they should know what they are talking about. Simon Winter is a smaller outfit, whose specialisation is yachts, but he has a proper handle on steam launches. It is rumoured that he is better for larger boats rather than smaller boats, but I have not been able to confirm that. IRCM also understand steam boats as they do (I believe) Alaska and Picket Boat 199.

Beware of using your house insurance or other less usual forms of cover as they may not be aware of the need to cover the damage from the explosive deconstruction of your boiler. Also if you are coming to SBA events (and I suspect IWA events) we do have a requirement that your insurance does cover that risk.

As for the logic of underwiters, I can offer no insights. However, I was informed by a fellow canoe club member that NFU mutual will happily cover your canoe as long as it is part of their houshold contents policy. They will not insure just the canoe...

Regards


Pete

[Dhutch]

Obviously years late on replying to this, but if its still of use email/phone me and I will get you the details of the broker we have always used for emilyanne. More than a diesel boat, but reasonable enough we have had no need to shop around.


Daniel

[cyberbadger]

I'm wondering how many steam boaters just choose to bite the bullet and go without insurance.

I'm in Ohio, USA and it's not required here. I haven't put my launch together yet, but I'm currently planning on going without insurance (my mind may change).

I'm not worried about the steam side, the boiler (which I should be getting within the next month or so) will be a brand new ASME code boiler. I'm not letting anyone onboard except for family and very close friends. Not really interested in rallys or meets right now. The hull will be a used modern pontoon boat hull, so I'm not worried about it getting dinged up.

My only worry is liability against other boats. But for at least for now I'm planning on biting the bullet.

Am I crazy?

-CB

[Dhutch]

I'm wondering how many steam boaters just choose to bite the bullet and go without insurance.

Am I crazy?

It might be diffrent in the US (and across various states within) but I think it rair within the UK if not unheard of. Most attend rallies from time to time or even as there main use, and in our case we must show proof of insurance annually as part of our canal licence.

I would also feel unhappy steaming the plant in a public place without. We consider it part of the cost, along with the annual boiler test.


Daniel