Insurance appraisals

Paul Miller

Canoe Nut
I have searched the limited list of postings and could only find a small bit of info on appraisals for insuring your canoe or canoes.

Are there members who are qualified to provide appraisals to insurance companies to insure our better canoes? What do insurance companies require as qualification to provide appraisals?

Can anyone recommend an insurance company to insure our classic wood canoes?



Surely you, as an insurance agent, should know more than most of us about what an insurance company would look for in appraising canoes for insurance purposes. As for insurance companies, Hagerty is the name that comes to mind immediately- they insure collector cars and boats, and are ever-present at larger antique boat and auto shows.

Regarding appraisers themselves, who could be better qualified to appraise antique canoes that the WCHA members who are avid watchers and traders in the marketplace? An insurance company might look for credentials, though, so a named "company" that keeps business records and therefore has a demonstrable history of involvement in the antique canoe market should be qualified and acceptable as an appraiser. We know what these boats are "worth", we know what they tend to sell for in the market, and we know the factors that influence the market and thus the values of canoes and similar small wooden boats.

The big recognized companies seem on the surface to insure only large high value boats (like runabouts, for example, though some people might think their canoe worth in the tens of thousands of dollars!). These companies also generally expect marine surveys to be conducted by recognized surveyors who lack obvious conflicts of interest (people working in boatyards, for example). But at least some of these companies do insure small boats including canoes, and at least some of them do trust the valuation of people who are not professional marine surveyors. In my experience, representatives of these insurance companies are very helpful- after all, they are delighted to sell new policies!

Riverboy Canoe
Hi Michael,

Just as biologists specialize, so do us insurance guys. I am into employee benefits and don't touch P&C.

I had seen a post from the past the Benson put up that was written by someone else in reference to the value of a canoe. It may have been ?Tim H.? It seems that person did surveys on canoes. But one still wonders what qualifications the insurance company requires of those people providing appraisals.

I know that those like Michael & I do need to be concerned about the value and loss of our canoe collections and I am quite certain we would lose big time if we where hit by fire or some other cause of loss.

Others of you may also find it difficult to get the full value of your canoe from your home owners policy. I am not sure if you would need to add it as scheduled property like jewelry.

Maybe some of you P&C guys can help.



Good point: "Just as biologists specialize, so do us insurance guys." ...I don't have a clue what a gall bladder is worth, but I can get you a great deal on an eyeball or a brain!

Guess if I had one I could use it for insulation- stop that pesky hollow windy sound I keep hearing between my ears... :eek:

How'd we get so far off topic? Sorry, Paul. :rolleyes: