Insurance

A conversation among Whalers
1971outrage
Posts: 7
Joined: Sun May 01, 2022 8:24 pm

Insurance

Postby 1971outrage » Wed May 04, 2022 7:21 am

How much should a 1971 OUTRAGE 21 boat be insured for when re-powered with a new 2022 Suzuki DF140ATLW3 engine?

BACKSTORY

I recently purchased 1971 21 Outrage stencil number 00172 that had been in storage for about 15 years.

[When I bought the boat it had] a 2003 Suzuki DT225TCXK3 with 43 hours that was very clean--you could eat off it--and started and ran like a new engine. The seller had recently changed the water pump and the fuel pump on the engine.

Crazy as it sounds, I ordered a 2022 Suzuki DF140ATLW3. I like four-stroke-power-cycle engines, and I will never need [the 225-HP of the engine that was on the boat].

The 1971 21 OUTRAGE is on a E-Z-LOADER M-6 2900 trailer in excellent shape.

jimh
Posts: 11670
Joined: Fri Oct 09, 2015 12:25 pm
Location: Michigan, Lower Peninsula
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Re: Insurance

Postby jimh » Wed May 04, 2022 7:22 am

1971outrage wrote:How much should a 1971 OUTRAGE 21 boat be insured for when re-powered with a new 2022 Suzuki DF140ATLW3 engine?
The maximum value that any boat can be insured for is determined by the insurance company. Some insurance companies will write a policy for an "agreed value" for the boat to be insured which may be higher than the general "book" value of a similar boat, based on exceptional conditions. If you and the insurance company can agree on a value that is suitable for you, and if you are happy with the insurance cost you will have to pay, and if you want to insure the boat for the maximum value, then that's the answer to your question.

The willingness to insure 51-year-old boats at exceptionally high values depends entirely on the insurance company.

For a place to start, contact GEICO insurance. They are often a good value in boat insurance. You can get a quote on-line at

https://www.geico.com/boat-insurance/