’76 Irwin Owner Seeks Insurance
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
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