Antique boat insurance provides coverages that are unique to classic boat owners. This overview includes information about underwriting criteria, standard boat insurance coverages, coverages designed for classic boats and boat insurance discounts available.
Qualify for Antique Boat Insurance Quotes
A boat will qualify for antique boat insurance quotes if it meets all of the underwriting criteria.
- There are often age restrictions for antique boat insurance. These vary by insurance company; some companies consider boats that are more than 10 years old acceptable, while others insist the boat must be more than 40 years old to qualify as classic.
- Antique boats usually must have a wooden hull to qualify for an insurance quote.
- The length of the boat, the boat’s value and the maximum allowable speed of an antique boat also factor into insurance rate quotes.
Coverages Provided by Classic Boat Insurance
Classic boat insurance estimates include a variety of coverages specific to the needs of the watercraft enthusiast.
- Physical damage to a classic boat covers losses caused by submerged objects, fire, theft, storms, vandalism, collision and any other sudden, accidental damage to the boat.
- Liability insurance coverage for the classic boat owner provides coverage for medical expenses or property damage to others caused by a covered loss attributed to the boat.
- Uninsured Boaters Liability is standard in classic boat insurance estimates. Uninsured Boaters provides coverage in case of an accident involving another boat without insurance or without adequate insurance to cover the loss.
- Medical Payments provides coverage for medical expenses as a result of a covered accident and is usually included in the classic boat insurance estimate.
- Agreed Value or Stated Value means depreciation won’t be taken from antique boats in case of a loss and is often a part of the insurance policy.
- Some personal effects coverage is usually standard in the classic boat insurance estimate.
- Towing costs to move an antique boat to a repair facility and roadside assistance in case of emergency is also included in a standard boat insurance estimate.
Unique Antique Boat Insurance Coverages
Boat insurance rates include special coverages that are unique to the owners of antique boats.
- Increased navigational territories, for people who like to take their classic boats into foreign waters, can be added to the insurance policy for an additional rate.
- Insurance coverage for antique boats that are undergoing restoration can be added to most insurance policies.
- Increased personal effects coverage is often available as part of boat insurance rates.
- Coverage for trailers, dinghies and motors can be added to the classic boat insurance policy.
- Lay-up coverage for when the boat is stored and insurance coverage for people who live on their classic boat full-time may be available for an additional rate.
- Additional liability coverage for towing people on water skis or wakeboards may also available.
Classic Boat Insurance Rate Discounts
Classic boat insurance rates are less expensive with discounts. Antique boat insurance discounts include increased deductibles to reduce insurance rates. Decreased amounts of liability can also discount rates for classic boat insurance. A loss-free boating and driving history may also result in additional discounts. Storing a classic boat behind a locked gate can also net boat owners an additional insurance rate discount.
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