Pocketship Insurance

Welcome to PocketShip.net! This bulletin board is for builders of the Chesapeake Light Craft-John C. Harris "PocketShip" design, a 15-foot micro cruiser sailboat built from a kit or plans.

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Re: Pocketship Insurance

Postby mark48 on Tue Jul 05, 2022 3:47 pm

I think I listed it as CLC wood / epoxy / FG, and just agreed on a value. It was quite a low-key affair.

Good luck,
Mark
mark48
 
Posts: 157
Joined: Fri Jun 28, 2013 9:55 pm

Re: Pocketship Insurance

Postby afairaizl on Wed Jul 06, 2022 9:09 am

BoatUS/Geico is not insuring PS or any other boats currently with wood core fiberglass construction - I just checked with them on the phone and they just shot that one down. This makes Progressive, BoatUS, and several other insurance companies/underwriters that will not insure it. Call CLC next for referrals since this is beyond frustrating and concerning at this point being so close to launch.
Thanks,

Drew - Hampton, NH, USA
PocketShip 'Dreams Won't Wait'
Build Started: Oct 2021
Boat Launched: May 5th, 2023
Build Blog - https://www.dreamswontwait.com
Photo dump = https://photos.app.goo.gl/dS2tViRpgq4YZH8o6
afairaizl
 
Posts: 69
Joined: Mon Aug 02, 2021 12:26 pm
Location: Coastal New England

Re: Pocketship Insurance

Postby [email protected] on Wed Jul 06, 2022 12:01 pm

afairaizl wrote:BoatUS/Geico is not insuring PS or any other boats currently with wood core fiberglass construction - I just checked with them on the phone and they just shot that one down. This makes Progressive, BoatUS, and several other insurance companies/underwriters that will not insure it. Call CLC next for referrals since this is beyond frustrating and concerning at this point being so close to launch.


Was this the case for liability-only insurance? At the moment I have no insurance (other than homeowner's and auto), and I am not sure if it is worth insuring
my boat against damage or loss. There is no way any insurance payout is going to compensate me for all the time I have put into the build...


Update: their web site says:


GEICO wants to be your first choice for boat insurance. However, there are some types of vessels that are not eligible for a GEICO policy which are listed below. Other criteria may apply and will be reviewed by underwriters at the time of an application for boat insurance:

Boats over 70 feet in length
Houseboats that do not have motors
Floating homes
Homemade boats
Boat with more than 4 owners
Amphibious land boats or hovercraft
Watercraft previously deemed a constructive total loss
Boats valued over $2,500,000




Doug
[email protected]
 
Posts: 190
Joined: Fri Sep 25, 2020 2:47 pm
Location: Princeton, NJ

Re: Pocketship Insurance

Postby afairaizl on Wed Jul 06, 2022 2:03 pm

They never even let me get to the liability only insurance portion of coverage. Several of the policies I tried getting would allow for an agreed upon value. I know I'll never get my time compensated even at a 1/3 of my imaginary, theoretical rate but wanted to cover the cost of building another boat similarly outfitted. I've been watching too many 'boating fails' videos lately and realized that the same idiots that try to kill me on the road also operate on water. I saw that line on "Homemade boats" on the USBoat site and looked up the definition of homemade versus kit builds before calling. The definition difference was that a kit build was based on known plans with a HIN assigned and materials by the kit manufacturer that proved that the design was Coast Guard approved for the year made. Homemade essentially is plans or a one-off design that may or may not meet USCG requirements and would possibly be a greater insurance risk.

I've since reached out to my local insurance agent who brokered my home and flood insurance as well as my vehicles. They handle marine insurance as well so we'll see what happens there. I've also requested quotes from Hagerty and Heritage Marine Service since they both list coverage of wood boats, especially since I found their ads in Wooden Boat magazine.

This process has made me realize that the insurance industry is definitely going to have a chilling effect on future wooden boat construction if they make it nearly impossible to get coverage. I don't want to live in a completely plastic, popped out world.
Thanks,

Drew - Hampton, NH, USA
PocketShip 'Dreams Won't Wait'
Build Started: Oct 2021
Boat Launched: May 5th, 2023
Build Blog - https://www.dreamswontwait.com
Photo dump = https://photos.app.goo.gl/dS2tViRpgq4YZH8o6
afairaizl
 
Posts: 69
Joined: Mon Aug 02, 2021 12:26 pm
Location: Coastal New England

Re: Pocketship Insurance

Postby BillR on Sat Oct 15, 2022 12:22 am

Call me a "prospective builder" as I have just bought the plans and am completely ignorant when it comes to marine/boat insurance.

Having built an airplane and living in that world, there is no requirement to have aircraft insurance, either liability or hull (I do have full insurance on my plane.)

What is the requirement for boat insurance? Is it state-by-state, national level, is it even required, is it mostly a concern when trailering, sailing, etc.?

Thanks in advance for the education!
Apparently I'm a boat builder. I will have to wait to find out if I'm a sailor.
Greenville, SC
BillR
 
Posts: 26
Joined: Wed Oct 27, 2021 5:25 am

Re: Pocketship Insurance

Postby afairaizl on Fri May 12, 2023 9:18 pm

Hagerty came through for me on the insurance front. The underwriter was Markel. A flawless marine condition and value survey, sufficient safety equipment, and enough listed experience was what got me the insurance including uninsured boater, liability, and full replacement value coverage. The one thing I had to add though was a marine rated carbon monoxide detector in the cabin. I have shore to 25 mile out coverage in the Atlantic, Pacific, and Gulf of Mexico including Canada and the Caribbean. My home navigation area is approximately 10k square miles covering Maine to Rhode Island.
Thanks,

Drew - Hampton, NH, USA
PocketShip 'Dreams Won't Wait'
Build Started: Oct 2021
Boat Launched: May 5th, 2023
Build Blog - https://www.dreamswontwait.com
Photo dump = https://photos.app.goo.gl/dS2tViRpgq4YZH8o6
afairaizl
 
Posts: 69
Joined: Mon Aug 02, 2021 12:26 pm
Location: Coastal New England

Re: Pocketship Insurance

Postby slash2 on Sat Sep 30, 2023 3:19 am

I second Hagerty. I first checked with the company that insures my home and car, and after checking around, they said one company might insure it after I get a marine survey. I found a somewhat local survey company and they replied they don’t survey wooden boats (huh?). After reading this thread I called Hagerty. I filled out some info including how much building experience I had, construction (they actually had fiberglass over wood listed), etc. and took a bunch of requested pictures (including the bilge!). Took two days, mostly because my first pics didn’t show all the rigging, which I was still working on. Painless process and very helpful folks.
Steve Sawtelle
slash2
 
Posts: 161
Joined: Fri Jul 09, 2021 2:27 am

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