Q. What Qualifies?
A. Typically most wooden boats, as well as high-quality non-wooden boats of traditional design. Please see what qualifies for more details.
Q. From agents: how do we bind coverage? What is needed?
A. Required for all boats: completed and signed application, several color photos: interior, exterior, engine, and transom, premium payment A current Out-of-Water survey will be due for cruisers or sailboats 26’ or larger. Any additional information required will be listed in the letter attached to the quote.
Q. What is the difference between Hagerty's "Agreed Value" coverage and other types of insurance coverage?
A. Agreed Value insurance policies guarantee that you will receive the full insured value of your vessel in the event of a total loss. There is no depreciation of a vessel’s value with an “Agreed Value” policy, unlike an “Actual Cash Value” policy, which depreciates the value of a boat as it ages, or a “Stated Value” policy, which generally requires an insurer to pay only “up to” the stated amount.
Q. Is my rate lower if I don’t use my boat?
A. Our rates are based on limited use. The annual premium rate takes into consideration the vessel will not be used frequently, however, there are no restrictions on personal pleasure usage.
Q. What does out of water port risk cover? Is my boat covered during transportation if I have a resto policy? (OOWPR)
A. Out of Water Port Risk is available for vessels that will be out of the water for a long period of time. It would cover virtually anything that would happen to the vessel out of the water. It would be covered for storage and land transportation.
Q. Do I need to call when I take my boat out of the water in the winter to change coverage?
A. No, Hagerty does not have a mandatory lay-up period.
Q. Where do I find a list of classic boat shows?
A. A list of marine resources can be found in our comprehensive resource directory.
Q. What is the difference between Hagerty's "Agreed Value" coverage and other types of insurance coverage?
A. Agreed Value insurance policies guarantee that you will receive the full insured value of your vessel in the event of a total loss. There is no depreciation of a vessel’s value with an “Agreed Value” policy, unlike an “Actual Cash Value” policy, which depreciates the value of a boat as it ages, or a “Stated Value” policy, which generally requires an insurer to pay only “up to” the stated amount.
Q. Is my rate lower if I don’t use my boat?
A. Our rates are based on limited use. The annual premium rate takes into consideration the vessel will not be used frequently, however, there are no restrictions on personal pleasure usage.
Q. Do you write houseboats?
A. No, we are unable to offer coverage for houseboats.
Q. Do you write liability only?
A. No.
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