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The best coverage at a great value for people who love boats.

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    Frequently Asked Questions - Marine

    • Typically most wooden boats, as well as high-quality non-wooden boats of traditional design. Please see what qualifies for more details.

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    • No. Unlike most regular marine policies and companies, Hagerty does not specify certain lay-up periods when your vessel must be out of the water. Nor do we limit the regions where you can operate your vessel. Many companies require you to pay for additional endorsements should you travel outside of the areas listed in your policy. Not Hagerty. Our policy allows for unlimited navigation and transportation in the U.S. and Canadian inland and coastal territorial waters (understood to be up to 12 miles offshore).

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    • Our rates anticipate limited usage and factor in your geographic area. We understand that most classic boats will not be used on a daily, or even monthly, basis. The annual premium rate takes into consideration that the vessel will not be used frequently; however, as noted above, there are no restrictions on personal pleasure usage.

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    • Yes, we can write houseboats.

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    • Yes, we can write liability only coverage.

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    • There are three types of value related coverage offered in the marine insurance industry today:

      1. Actual Cash Value: This is the coverage type found most often on homeowners policies. It pays out a depreciated, “book value” in the event of a claim. The older the boat on this kind of policy, the less value it has.
      2. Stated Value: These policies are better than Actual Cash Value because they allow you to “state” a value for your boat greater than its depreciated book value. But, these policies can still depreciate vessels, because they usually allow the insurance company to pay “up to’ the stated policy amount.
      3. Agreed Value: Only Agreed Value polices guarantee you will get all of your insured value back in the event of a total loss. There is no depreciation of a vessel’s value with an Agreed Value policy, although many companies will still apply a deductible in the case of a total loss. Hagerty Classic Marine Agreed Value policies waive the deductible in the event of a total loss.

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    • For smaller boats, runabouts, utilities, skiffs and launches, we will generally cover you for the amount you request without further documentation. If the value is higher than the range we have experienced for that particular make and size, we may request additional information. It may be a special model or prototype, or have historical significance that would warrant a higher value.

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    • 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, including during storage and land transportation.

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    • You can call our in-house claims department. We are collectors and enthusiasts ourselves and have been helping people like you for more than 25 years. We will take your information, help you get estimates, and issue a check for repair at a facility of your choice.

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    • Many marine insurance policies have age limits – 15 to 20 years usually. They may also exclude or penalize wood boats. That’s where Hagerty can help. We insure more classic and wooden boats than anyone in the world.

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    This is only a general description of coverage. All coverage is subject to policy provisions, exclusions and endorsements.

    *See your Hagerty Plus program guide for a complete description of benefits.