Insuring your steam locomotive

TangoFox · **Joined:** Thu Jan 10, 2013 1:37 am **Posts:** 10

I'm really curious about this topic, but everything I've tried to research, including here, is kinda missing.

We're planning a steam restoration (Since I like you all, I will say that we're planning the FEC 153 or 113 restoration). That being said, we're simply planning now. The common question I get asked is "But how can we afford to operate it?! Steam Boiler insurance is outrageous!?" That being said, does anyone know what something like Steam Boiler insurance would run on one of the light Pacifics? We're planning a complete restoration/overhaul (not a new boiler unless we have to) if we do this - it won't be just replacing a few staybolts.

I would assume most of the operating locomotives would have steam boiler insurance, or would they simply have general railroad liability (which we do.) ?

Dave · **Posted:** Fri May 08, 2015 7:03 pm

I have a very soft spot for those FEC light pacifics. 153 was my first...... I think 113 might be a better candidate based on a look we took for potential acquisition for Savannah a few years ago when she was for sale.

Insurance - you need to satisfy yourselves and then satisfy the operator of the line on which you want to run. Probably their requirements are going to be higher than your own, so you might as well start there. I would recommend you consult with specialty insurers who know our business and are reachable through ATRRM.

dave

p51 · **Posted:** Fri May 08, 2015 7:55 pm

I know where you could get insurance, but I hardly know where the cheapest would be...
I'd start with anyone running a locomotive as close to the one you're looking to insure, and ask them.

Bobk · **Posted:** Fri May 08, 2015 11:16 pm

This firm does railroad insurance.
http://www.hmbd.com/
http://www.hmbd.com/railroad-insurance/

They write policies for just about any type of rail related event.

Mark Locke · **Joined:** Sat Mar 22, 2014 8:41 pm **Posts:** 53

TangoFox, if you check the FAQ page in this section, you can find archived issues of the Association of Tourist Railway and Railroad Museum's newsletter. There are ads for several specialty insurers there.

TangoFox · **Joined:** Thu Jan 10, 2013 1:37 am **Posts:** 10

Dave - I'll be honest, I don't think they were ever planning on selling it, unless someone -offered an outrageous amount of money. Both locomotives are in pretty good condition, the 113 has sat outside in the rain/wind/sun longer, but I think both are viable candidates. We'll see what the experts say.

P51 - Good idea, I'll look into that.

Thanks Bob, I contacted them.

Mark - didn't see the archived issues, but I'll look again.