Monday, August 02, 2010

Insurance

I am planning to drop the boat off for the cutwater and transom bands to be made this weds. I'll finalize the deck clear coat later.
This means the boat needs to be insured before I take it out of the shop for the 2 hour drive. I called Hagerty collector car/boat insurance and they set me up. They are one of the few that will insure homebuilt boats and are familiar with the Glen-L designs. Im quite pleased. They asked how much I wanted the boat to be valued at I told them 10,300. They agreed with that value, which does not depreciate over time and the premiums are $265/year. This covers the boat and trailer. We also agreed on a value for the restored motor of $900 and that is $20/year for a total of $285. The liablility coverage and details are very similar to my auto insurance, if you want the details email me. I am very pleased with that for a homebuilt boat since they only have pictures of your boat to go from its pretty risky for them since they dont know the integrity of your work.
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