’76 Irwin Owner Seeks Insurance
As many owners of older boats find themselves, Rick is searching for reasonably priced insurance for his 1976 Irwin. If you have suggestions, please reply to this posting.
I own a pretty nice Irwin 10/4 (25 feet but very big and beamy). Unfortunately, because of its age (1976) and the fact that Irwin is no-longer in business, I found it infuriatingly difficult to find an insurance company willing to cover it for a price commensurate with the value of the boat. For instance, the boat is realistically worth $5.5k (more or less) and while it is possible to find an insurance for $1600 a year, that is an unreasonable price because it would be like buying another boat every 3 years. Once, I found an insurance company who would insure it for a few hundred dollars a year on the condition that I moved my house and car insurance to them. Although the rates were a bit higher for the house and car, I did it anyway. About a month later I got a letter telling me that the agent had made an error and they would NOT be able to continue the insurance. 30 days later I was,once again, without boat insurance. In addition to the rarity of reasonably priced old-boat insurance, the cost of doing the periodic, mandatory haul out and survey for the insurance company adds another $400 to $700 every few years. (survey cost + haul-out cost). Now my boat is at my own dock, but I know that many sailors, responsible sailors, have nice old boats, but can’t afford the ridiculous cost of insurance and its requirements for surveys and haul-outs. Should they just scrap their boats? Never anchor them? This is a legitimate question on behalf of us old-boat lovers. Perhaps you might suggest an insurance company that is reasonably priced for old-boat insurance. Please post it so that I can follow up, do the research on it and post the results, costs, requirements, age limits, etc., and possibly even buy it. Much thanks for your interest in this concern over anchoring. Thank you for the input AND the info.
Rick
Comments from Cruisers (2)
Check with the Irwin group on Facebook. I'm sure they've had this discussion. And they are a great group for information on all things Irwin.
To be open and fully disclosed, my comment was meant as a rebuttal of the suggestion that a Florida law requiring boat insurance might alleviate the derelict boat problem. My argument is that it would not. It is unfeasible because of the high-cost and rarity of cheap boat insurance for older boats. I am not, actually, in the market, but am looking into the real costs and availability so that I can dispel, and argue against that notion, which I believe to be flawed. I am open to polite argument and hope that I am wrong. It would be nice if owners of older boats could buy inexpensive insurance. It would be nice, too, if a solution to the derelict boat problem could be fixed that easily. But let us not pass any new mandatory requirements for boat ownership, just yet. From my experience, many responsible cruisers of older boats may have a very hard time finding and affording that insurance, or if it were required, keeping their boats in the water. Not wanting to throw away money for too expensive insurance or a shiny new boat does not make a boat owner irresponsible, or a boat a derelict. So if you must, give me some inexpensive insurance quotes, but be warned… I will probably check into all of the requirements, the costs, and the "strings-attached" (like getting an annual haul-out and survey, or only being available as part of a larger insurance package) and then report back on this thread, but just for arguments sake, not for the purposes of buying insurance on my boat. I spend money for expensive seacocks, bilge pumps, bronze through-hulls, new chain and anchors. My belief is that the best insurance is a well maintained boat, equipped with reliable parts. I might feel differently if I sailed a $150K boat, but I choose not to, for various reasons. Mostly I don't think a younger boat is better, in any way. Oftentimes they are not built nearly as well. I dislike overspending, but I hate throwing money away. The only thing I might hate, more, is being forced to throw money away because of a new state law. Thank you for your interest in this exciting topic. It is important, to be sure, but I'd rather be sailing.