Insurance for restored SN and dock

Any of you have dock insurance on a floating dock? My homeowners carrier said my policy would not cover the dock. They said due to all the hurricane damage at the coast dock insurance was impractical in SC. For the quote they gave me I could replace the dock in <10 years. Better off to self insure for that price!

Also, what about insurance on the boat? I see that Hagerty has classic boat insurance available. Any experience?

Down the lake about 7 miles 6 docks were demolished by a tornado/micro-burst when the last tropical storm came through. Got me thinking about how much I have invested that's floating around out there!

Thanks!

Brktracer wrote: Also, what about insurance on the boat? I see that Hagerty has classic boat insurance available. Any experience? Thanks!

NO on Hagerty!!! I think all they do is promote themselves by sponcoring organizations and events. They have got to have someone in bed with someone at the ACBS as well!!
They don't pay out on claims and use outside adjusters that don't know what the H they are looking at. In one instance, the adjuster jumped up on the aft deck of a friends Century for a picture. The friend had prop/rudder/strut damage and had already removed the gas tank to look for inside damage. On some of the century's removing the gas tank also removes the aft deck support. Guess what! The adjuster crushed the deck. To top it off, he had street shoes on!(this is a wood varnished deck).

I've got all my boats on my homeowners policy.

Every show I go to there are always "goody bags" for the exhibitors and of coarse Hargerty has their junk it them. I'll get home and throw out the Hargerty floaties and pens!!

I dont have any idea about the dock, but, USAA (my primary insurance company) stopped insuring boats and actually put me in with Progressive. My rates have actually dropped and will continue to drop if I dont have a claim. I think that is pretty cool. By the way, is your dock actually floating on Lake Hartwell?? I am on Clarks hill and I need to mow around mine! We went over to Russell Sunday, what a pretty lake, not many boats, very little Hydrilla, good skiing.

Cool to hear back from you Matt. It sure has been a lost summer for some of you guys. We have been very low here all summer as well but the lakes me and backfoot use have started to come back up a bit. Have been getting a good bit of rain from the storms going by.

john

Hey Matt, FWIW....if your dock is setup like mine, as the water drops the front of the dock goes down and the back gets caught on the dirt, the cable holds tight and bends the dock. My cables attach up high on the dock so it really bent the poles. I should have let out a lot of extra line, and put up my ladder!
Its early, so I hope this made sense

Lots of people on that thread talking about "stated value" policies.

From what I know about hanging around with hot rodders and car restorers for the past 20 years one does not want a stated value policy.


Problem is "stated value" means an adjuster determines the value at that precise time. If there is an accident 1 year later they will prorate the policy based on their opinion of what the book value is. But ironically enough the premium was not prorated during the policy!

All the hot rodders are going with agreed value policies now. With this policy the owner and underwriter agree on the market value of the car and the policy is for that amount. Somewhere along the line they actually realized that people that restore cars don't drive them daily and tend to keep them in show condition therefore there is little to no wear and tear. Furthermore, if you are paying premuims on a $ amount, shouldn't you be titled to that amount if there is a total loss?

Another way to do it is to have an appraisal by a 3rd party on file with your insurance company. That worked for me one time!

I was unsure of how insurance worked in the boating world but it sounds like it's similar to car insurance.

Any advice on dock insurance?