Antique Boat Insurance - What To Consider When Insuring an Antique,
Classic or Older Boat or Yacht
Boat insurance is a must if you're planning to take your craft out of storage.
Even traveling on the trailer, your boat can be damaged. If you aren't insured,
you'll have to pay any repair and towing costs out of pocket. However, most
boat insurance is geared towards newer models. You may find yourself paying
very high premiums if you have an older boat and try to insure it through conventional
means. This is where looking for antique or classic boat insurance comes in
handy. Because the needs of classic boats, especially wooden ones, are different
from standard craft, you'll want to find an insurer who understands them. Premiums
should be adjusted accordingly with the kind of antique boat you own. It's
usually a good idea to do some research on insurance costs before you buy your
boat, just so you'll have an idea what protecting your vessel will cost you.
It's also a good idea to be well educated about the particular advantages and
problems of your classic boat model before getting your insurance. This will
help you understand why a specialty antique boat policies has the terms it
does.
You can reduce your chances of having to file a claim on your antique or classic
boat in a few simple ways. Make sure that you have a good bilge pump, to keep
your hull from being damaged by water that stays inside too long. Don't use
a cover when storing your boat in the water or traveling on the highway. This
may seem counterintuitive, but older boats will be chafed and scored by a cover
more than they will be protected. If you have a motorized classic boat, make
sure that you have a good battery charger hooked up and that you properly winterize
your engine when storing the boat in the cold. Should your boat sink, do not
allow it to be lifted while full of water. You will have to pump water out
of the boat, then lift it, to avoid the hull being damaged by the weight. This
is especially important with wooden boats. Wooden boats should also be soaked
before launching. This lets the hull swell up and become water tight again.
This is important to prevent serious leaking while using the boat.
Collector boat dealers can often point you to
a good insurance agency that deals with these craft. If you cannot find an
insurance company this way, a simple Internet search can turn up a number
of providers who will cover your antique or classic boat. Since each insurer
and craft is a little different, you will have to work closely with your
agent to find the best antique boat insurance policy for you. It may take
a little effort, but insuring your classic boat is important. Classic watercraft
are unique – if your boat is damaged,
you'll want to be able to pay for proper repairs. Insurance can help you do
this, and keep sailing.
