For smaller boats, runabouts, utilities, skiffs and launches, we will generally cover you for the amount you request without further documentation. The value you request should include the applicable sales taxes in the province in which your policy coverage applies. 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.

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 homeowner's 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. Guaranteed Value: Only Guaranteed 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 a Guaranteed Value policy, although many companies will still apply a deductible in the case of a total loss. Hagerty Classic Marine Guaranteed Value policies waive the deductible in the event of a total loss.

Yes. Most marine insurance programs – including Hagerty’s – will require an out-of-water value and condition survey for all vessels over 26’ that have any type of cabin.

No, Hagerty does not have a mandatory lay-up period.

Yes. We can usually issue immediate insurance coverage for boats 26 feet in length or less. A completed application and photos are due within 30 days of a policy being issued.

No, we are unable to offer coverage for houseboats at this time.

No. Hagerty offers a wide range of coverage options.

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 may require you to pay for additional endorsements should you travel outside of the areas listed in your policy. Not Hagerty. Our policy allows unlimited navigation and transportation in all U.S. and Canadian inland and coastal territorial waters.

Our rates are based on limited use. The annual premium rate takes into consideration that the vessel will not be used frequently; however, there are no restrictions on personal pleasure usage.

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.

Generally, we will need a completed and signed application; several colour photos (interior, exterior, engine and transom), a current out-of-water survey and a premium payment. Any additional information required will be listed in the letter attached to the quote.

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.

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

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.

A list of marine resources can be found in the comprehensive resource directory on our website.