Obtaing Insurance for a Hobby Steamboat

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Anne from Little Britan
Anne from Little Britan
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Obtaing Insurance for a Hobby Steamboat

Post by csonics » Wed Nov 18, 2009 8:03 pm

Posted on behalf of sierrasmith71:


sierrasmith71
Just Starting Out


Joined: 10 Oct 2008
Posts: 1

Posted: Fri Oct 10, 2008 11:21 am Post subject: Obtaing Insurance for a Hobby Steamboat
I am considering purchasing a 22 ff launch with a steam engine and boiler. Is it possible to obtain insurance on the hull and for liability. I am located in Maryland.

David Garrison
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P.F.Cuthbert@Classicfm.ne
Steam on Deck


Joined: 24 Nov 2007
Posts: 52
Location: Cheshire, UK
Posted: Mon Oct 13, 2008 1:12 pm Post subject:
Dear David

I am surprised that none of our contributors in the Americas have offered you a suggestion yet. So, here is my offering from England.

Here in the UK the Steam Boat Association of GB has a number of "approved" insurance brokers that offer our members boat insurance. The policies issued are essentially standard leisure boating policies, but with the important exception that they state clearly that the policy relates to a steam boat. They will also have a condition that, when "in commission", the vessel will have a valid boiler test certificate. It is assumed for the SBA type policy that boats are in commission all year. When out of commission, one is expected to inform the insurers.

The two principal elements of cover are Public Liability (3 million GBP), and then insurance of the boat and equipment. As an SBA member operating in the UK you would be expected to have the Public Liability element, but the other element is optional.

If you go for fully comprehensive, the "other element" will cover such things as frost damage to the boiler, engine and pipework, accident damage and cover for trailing behind your vehicle. The amount charged depends upon the agreed value of the vessel, and that can be a contentious area. However, to start off this will presumably be what you have paid for the boat.

I am quite sure that you will easily get cover in the US. However, do discuss these points with the broker. If you want a copy of the main points of the SBA style policy, just drop me an e-mail.

Regards

Pete
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mcandrew1894
Full Ahead


Joined: 11 Oct 2007
Posts: 149

Posted: Thu May 07, 2009 7:59 pm Post subject:
In the US Hagerty was suggested to me.

I am going to contact them myself....We'll see.

Dave
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mcandrew1894
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Joined: 11 Oct 2007
Posts: 149

Posted: Tue Jun 23, 2009 7:46 pm Post subject:
I have contacted Hagerty. I will probably persue an agreed value policy.
The proposed policy they sent has some liability coverage also, but I can't be terribly specific at the moment. So far so good...

Dave
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artemis
Just Starting Out


Joined: 24 Sep 2007
Posts: 19
Location: Portland, OR, USA
Posted: Sun Nov 08, 2009 8:54 pm Post subject:
What is your current staus in this?
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mcandrew1894
Full Ahead


Joined: 11 Oct 2007
Posts: 149

Posted: Mon Nov 09, 2009 3:54 am Post subject:
Hi Artemis,

Hagarty gave me a quote. The price was alright but I thought the coverage was low and I intended to contact them and requote at coverages that would be helpful/prudent.

They knew it was a hobby steamboat though...

I'll persue it once my work hours start settling down........


Dave
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