Boat Insurance

[Pearson365]

Hi all,
I have been watching and reading this site for nearly a year to get information on the P365.
My wife and I are getting close to making an offer- FINALLY!- on a 1980 ketch.
I am trying to get a handle on what we should expect to pay for insurance and what additional it might be if we live aboard.
I understand there are a lot of variables. Ideas? good companies to contact?
Thanks in advance.
Risto

[kevin barber]

Hi Risto-

We have a 1982 367 Cutter.

It really depends on where you live.  We have used Boat US for the past 4 years.  There are only a few companies
that will insure us here in Florida. (Hurricane central)
 
You will find that many insurance companies will also turn you away due to the age of the boat.  If they will consider writing the boat they will definitely require a survey.   This is at your expense.  You will be required to make all the repairs that the surveyor deems necessary to make the boat insurable.

We pay around 2K a year for a 50K policy.   They will pay 50% of a haul out in case of a named storm warning.  That is about what we paid in South Carolina (Ace Insurance) as well. 

Hope this helps.

Kevin Barber
S/V Pan Dragon

[kevin barber]

BTW-

I lived aboard for two years and there should not be a difference in insurance rates.  If the policy is an agreed upon value, it really shouldn't make a difference to them.