Antique Boat Insurance: Protecting Your Classic Vessels

Antique boat insurance is vital to protect your investment in older boats. Not all insurers understand the special needs and special values of antique boats, so it’s good to know what to look for and what considerations to make in purchasing the best antique boat insurance.

Agreed Value on Classics

For some time it was difficult to get agreed value boat insurance on classic or antique boats. Now, however, more companies are offering the coverage.

With the value of classic boats higher than the value of many other boats, it is advisable to get agreed value insurance for your classic boat, since actual value may be diminished by the age of a classic boat by an insurer who doesn’t know how to properly value antique boats.

Ground Transportation Coverage

Classic and antique boats often have very long overland hauling times. Therefore it is important that you get good land transportation coverage to take the boat to shows or competitions.

Restoration Coverage

If you plan to restore a classic boat, look for “course of restoration” coverage that will cover the boat in the shed or shop where it is being restored, and recognizes the increasing value of the boat as you update and upgrade her features.