Insurance

[GalaxyGirl]

I got a quote request from Pantaenius and BoatUS. Any other suggestions? Thanks.

[Canibul]

I did that, too. Ended up with Offshore Risk Management in the US.

Our requirement is a little different than many, in that we wanted to be able to keep our boat in the water, in the tropics, in the hurricane belt, during hurricane season. We have to pull the boat for named storms, or secure it in the mangroves. But we're insured.

[GalaxyGirl]

Originally Posted by Canibul

I did that, too. Ended up with Offshore Risk Management in the US.

Our requirement is a little different than many, in that we wanted to be able to keep our boat in the water, in the tropics, in the hurricane belt, during hurricane season. We have to pull the boat for named storms, or secure it in the mangroves. But we're insured.

I'm hoping to need that kind of policy also shortly down the road . I'm sure its an arm and a leg, but who wants to put a price on freedom.

Thanks for the info. I'm sure it will be handy soon enough.

[Mycroft]

Try Progressive Insurance.

[ranger58sb]

We use a broker, same folks for the last 20 years. Search IMIS in Grasonville or maybe Stevensville, MD (Kent Island).

-Chris

[chuckr]

check with Bill Hodgens of Yachtinsure -- he did a great job for us for a few years -- excruiser so he understands boats and boaters

[GalaxyGirl]

Originally Posted by Mycroft

Try Progressive Insurance.

Tried them. They only go to 50'. Thanks for the suggestion.

[GalaxyGirl]

Originally Posted by ranger42c

We use a broker, same folks for the last 20 years. Search IMIS in Grasonville or maybe Stevensville, MD (Kent Island).

-Chris

Some folks on another thread mentioned IMIS also. I'm going to call them Monday. Thanks.

[GalaxyGirl]

Originally Posted by chuckr

check with Bill Hodgens of Yachtinsure -- he did a great job for us for a few years -- excruiser so he understands boats and boaters

Will do. Thanks for the suggestion.

[CarlF]

IMIS (usually representing Markel) and Pantaenius are both top quality. I've used both. They are worth extra money (but I haven't actually found them expensive). They can be selective as to who they'll cover.

Don't pay the money to cover areas you don't need. It's usually no problem with these companies to expand the navigation areas before a trip - assuming your request is reasonable. The price difference is unlikely to be worse than the insurance would have been in the first place for the larger area.

You'll also have an easier time getting insurance if your plans with your new boat seem conservative. This is not the time to talk about your dreams of cruising Patagonia some day

[Mycroft]

Originally Posted by GalaxyGirl

Tried them. They only go to 50'. Thanks for the suggestion.

Bummer. I have a 43, but they turned me down for being a liveaboard.

[ShaktiGurl]

We second Bill Hodgens Marine Insurance. He worked hard for us to find the right policy.

[Pau Hana]

Originally Posted by CarlF

IMIS (usually representing Markel) and Pantaenius are both top quality. I've used both. They are worth extra money (but I haven't actually found them expensive). They can be selective as to who they'll cover.

Don't pay the money to cover areas you don't need. It's usually no problem with these companies to expand the navigation areas before a trip - assuming your request is reasonable. The price difference is unlikely to be worse than the insurance would have been in the first place for the larger area.

You'll also have an easier time getting insurance if your plans with your new boat seem conservative. This is not the time to talk about your dreams of cruising Patagonia some day

Well put. Further, know that how a premium is calculated is based on a number of factors:

• Vessel (type, age, material condition, fuel type, value and more)
• The owner/operator (their experience or lack thereof of operating vessels of similar size to the one they are looking to insure)
• Navigation area (where the boat is operated)
• Vessel usage (private pleasure, charter, liveaboard or ?)

This is not the time to be shy about being honest with underwriting. The last thing you want to have happen is for an underwriter to peruse this (or other) forums and glean any information different from what was agreed to for you r insurance policy.

[CSY Man]

Stay away from BoatUS:

They changed their policies and will no longer insure to an agreed value, or a surveyed value: They will only insure the boat for what you paid for it.

Say you got a real bargain and paid $1000 for a $20,000 boat, they don't care.
Or you bought a project boat, fixed it up to Bristol, had it surveyed with a market value and an replacement value, they don't care.
Been there done that recently, argued with BoatUS, then cancelled my policy and when somewhere else, end of problem.

My guess is they will loose a bunch of customers.

[ranger58sb]

Originally Posted by GalaxyGirl

Some folks on another thread mentioned IMIS also. I'm going to call them Monday. Thanks.

Feel free to be a name dropper; they appreciate the word-of-mouth.

Our current policy happens to be with New Hampshire, but they shop all the likely suspects.

-Chris