Insurance For Dingy

midexp

Active Member
Oct 5, 2016
423
Harrison Township, Michigan Lake St.Clair
Boat Info
1999 40' Sundancer
Engines
454 merc
Just bought new dingy. With the motor, I got about 4 grand into it. Called my insurance company and they want $90 per year to insure. This seems high? Just wondering how many get separate insurance policies on their dingy's? I'm sure it happens, but I've never heard about a dingy getting stolen, which would be the main reason for insurance.
 
Ours is covered under our yacht policy with the big boat. However, we've had separate policies in the past for other watercraft (dinghy, pwc's, etc, and theft was probably second to liability.
 
Mine would be covered under my yacht policy but my agent warned that once we used it for water sports or exploring and not just getting back and forth from the boat that it might no longer be considered a dingy and if something happened during this time (liability wise) it may not be covered so I elected to get a separate policy for it.
 
Our Whaler is covered separately because we use it as a boat more than just as a dinghy. It and the motor are worth about $10K plus another $2K for the trailer and I just renewed the policy for $244.
 
Mine is on the yacht policy, forget the amount but around the prices mentioned.

A friend had his stolen while down in the keys. He was on his boat at the time, dinghy was in the water tied to the boat. Boat lines were cut.
 
2018 sea doo spark $200 year its worth $8k our dinghy is covered under yacht policy and is worth $10k and it’s almost $200 more on our policy I think the $90 is accurate
 
tiara in the snow 01.JPG
Yacht policy covers our dingy.
 
@midexp - my policy on my boat has the following language covering the dinghy (and I wondered the same thing when I bought the dinghy):

=======================================

F.“Dinghy” means a boat not to exceed 15’ length overall, including an outboard motor that does not exceed 40 horsepower, if so equipped. The maximum coverage for any “dinghy” and its outboard is $15,000. The “dinghy” must be primarily used as the tender to an “insured boat” listed on the Declarations Page.

2. Coverage Provided If an amount is shown for this coverage on the Declarations Page, “we” will cover an “insured boat” including its hull, machinery, outboard motors, sails, spars and furniture. “We” also cover “boating equipment” as well as a “dinghy” and computer hardware and software up to a maximum limit of $2,500.

(2) Repairs for Partial Loss In the event of damage to a “dinghy” with cost of repair exceeding the “actual cash value” of the “dinghy,” the most “we” will pay is the “actual cash value” as determined by industry reference materials including, but not limited to, the N.A.D.A. book, the BUC Used Price Guide, and ABOS Marine Blue Book.

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That is an excerpt from the 13 page policy document. The language is a bit confusing - I interpret that my dinghy will be covered up to $15,000 - but then not exactly sure when the other paragraph seems to offhand mention covering a dinghy up to $2,500 what exactly they are referring to .... I guess next time I have a question for next time I talk to my insurance agent ....
 
Check your homeowners policy. The most basic policy covers watercraft for $1000 but most have enhanced amounts of coverage up to $5000. Not a lot but it's something and is not subject to deductible under the policy. More importantly is the liability coverage which is included up to 25HP. Over 25 HP you just have to add and endorsement to get the liability coverage.
 

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