Pygmy Boat value

Submitted byMattk onMon, 07/27/2020 - 16:07

Hi All,

I just built 2 Pygmy kayaks and I wanted to get them insured in case stolen.  The price was reasonable, ~$200/yr for both, but I need to get them appraised.  The requirements are that it has to be a "related business" (boat builder, boat repair, etc.), and must be able to provide an appraisal on company letterhead, with contact information.

Being in Colorado I don't have a plethora of builders.  Are there any professional boat builders here that could put a value on and provide documentation for a completely finished Pygmy Coho and AT17?  If someone asked you to build one for them, what is the value you put on it?

Brian Nystrom

Mon, 07/27/2020 - 17:54

That price seems high, as I'm only paying $120/year to insure 2 fiberglass boats and a skin-on-frame that I built. They asked me how much I wanted to insure them for; I didn't need an appraisal. It's really difficult for anyone to put a value on a home-built boat, as the value depends greatly on how well it's built. If nothing else, your insurance company should be willing to insure yours for the cost of the materials to build them.


Mon, 07/27/2020 - 22:38

It probably depends on the local 'market' but here in BC it seems quite difficult to sell a kit kayak for more than the cost of materials.

Strip kayaks are even a harder sell.

A lot of the value of a DIY kayak is not in the boat quality, but in the "I built this myself and it floats!!" satisfaction - hard to recoup that in dollars.

I think most of my paddling friends just depend on their 'homeowners' insurance coverage, but I've never heard much discussion about kayak insurance, so I don't know.

John VanBuren

Wed, 07/29/2020 - 08:56

A quick visit  to will likely provide you with a value for your kayaks. In my humble opinion, for S&G kayaks the cost of a full kit plus 50 to 100% is not an unreasonable full retail value. Years ago one of our boats was destroyed by a falling tree in a storm, and we got full retail value for it (minus a deductible).

John VB

This may be helpful to someone else and I always like it when people post the outcome :-)  The insurance company (State Farm) gave me two options: I could either provide a Bill of Sale (~$1200/boat +additional materials) or to get an appraisal to obtain the actual value.  I did get in contact with a builder from Pygmy Boat's list of builders, provided pictures of the boats and customizations (I designed, cut, and installed some inlays).  The builder estimated that it would take ~100 hours @ $50/hr to build the boat, plus kit costs and additional materials and is providing an appraisal at a modest $50 charge (one hour worth of work).  In the end, State Farm covered both boats with $12,000 worth of insurance for $120/year with a $100 deductible.  In the end, the insurance company said that the charge is based on a per thousand charge and as long as you can reasonably justify the expense and are willing to pay the rate, they will insure it.


I hope this helps someone in the future!