Which certs or classes are the best bet financially?

[teneicm]

Are there any classes or certifications that have a potential financial impact on cruising? I'm thinking along the lines of reduced insurance premiums if the captain holds an "XYZ Certificate" or has completed ASA classes 101, 102, etc.

I know that any class or certification is good in that it increases knowledge, but in a world of limited resources and time, I would want to make sure that I obtain the training/certification that is the most flexible in terms of future payback.

[jackdale]

Have you asked your insurance company?

Jack

[teneicm]

Hi Jack-

Haven't asked- because I don't have an insurance company yet. Still a couple years from needing one, but am putting some thought into taking some catamaran specific classses in conjunction with a vacation charter this winter.

Also, the insurance premium was just one example that I could think of- was hoping that other posters might have additional examples of where one type of certification was better than others or had more of a long term financial impact.

[marty9876]

Long term I'd think it'd end up costing you more! The more certs I get, the more I want to sail and take the next class/buy the boat/setup the next charter on the bigger boat etc!!!



Interesting question. My guess is certs would not effect insurance and such, just a guess.

[jackdale]

I am not sure about US insurance. In Canada, just about any certification will get you an insurance discount. Both US Sailing and ASA have good reputations. What matters is the instructor. Some organizations do not include on-the-water practical components; they focus on classroom-based theory. Helm time is crucial to developing confidence and competence.

Jack

[kismet424]

Hi - I ended up getting a 10% discount with my provider (BoatUS) because I had the basic (ASA 101,103) certifications. They weren't exactly cheap, but it was my first year of insuring, and I was told the premium would drop assuming no claims. I plan on shopping around at the end of this year to see what I can get however.

[Pblais]

In the US It is pretty much anything. The basic boat safety course from USCG Power Squadron is the cheapest and probably counts as much as the insurance companies care about. Holding a USCG captains license really won't do you any good for insurance discounts. If you do it for a living you need different insurance any way.

It's where most of the boating accidents can be avoided. Drunk and/or stupid counts for the majority of boat safety issues. I would not say that it should be a sign of how little training one should have. This all comes down to minimum qualifications. I'm sure we all desire to be minimally skilled sailors. ASA 101 alone is more than is covered by this course.

This also covers what is turning out to be the new state regulation concerning state requirements for training. You can do that class on line and you only pay when you pass.

[windsaloft]

email susan@imis.com She's our broker (and I think on this forum under some name, I know she is currently cruising) --- she knows the basics of what puts you in what risk category for what kind of insurance. As a happy, happy customer after many rounds of insurers (I personally loathe insurance companies, but Susan has made it very easy and efficient). For the record, my CYA certs, although Canadian, have taken my rates down as much as they will go, so there isn't financial incentive to get the USCG OUPV from that standpoint.

[ssullivan]

Originally Posted by Pblais

In the US It is pretty much anything. The basic boat safety course from USCG Power Squadron is the cheapest and probably counts as much as the insurance companies care about. Holding a USCG captains license really won't do you any good for insurance discounts. If you do it for a living you need different insurance any way.

It's where most of the boating accidents can be avoided. Drunk and/or stupid counts for the majority of boat safety issues. I would not say that it should be a sign of how little training one should have. This all comes down to minimum qualifications. I'm sure we all desire to be minimally skilled sailors. ASA 101 alone is more than is covered by this course.

This also covers what is turning out to be the new state regulation concerning state requirements for training. You can do that class on line and you only pay when you pass.

Actually, Paul, there is one insurance company your Masters ticket helps to get a discout with. Allstate. I presented them with my Masters and STCW-95 cert and had a total annual insurance bill on the Gulfstar ($100K agreed value) of less then $400. That's less than $400 per year. The rate without the licenses was much higher, but I cannot recall the exact number.

Just thought I'd mention it in case someone has their ticket and wants to find insurance companies that will give you some credit for that.

[David M]

Originally Posted by Pblais

In the US It is pretty much anything. The basic boat safety course from USCG Power Squadron is the cheapest and probably counts as much as the insurance companies care about. Holding a USCG captains license really won't do you any good for insurance discounts. If you do it for a living you need different insurance any way.

Really?! So someone who holds a USCG Merchant Marine Officers license for any oceans, any tonnage who gets on a yacht counts for nothing but someone who has taken a two weekend Coast Guard Auxiliary course counts for something?

Tell me it isn't true!

[Pblais]

Actually, Paul, there is one insurance company your Masters ticket helps to get a discout with. Allstate.

I get a discount from All State and I have 3 ASA classes. You have a saftey course or you don't. All State has only one discount. A USCG ticket counts so you get the one and only discount. I also get an extra discount because I have my house insured too. So I get a bigger one. It's about the money, not how well you are trained. Insurance has only ever considered "minimal training" not maximum training in rating insurance.

So someone who holds a USCG Merchant Marine Officers license for any oceans, any tonnage who gets on a yacht counts for nothing but someone who has taken a two weekend Coast Guard Auxiliary course counts for something?

They both count equally for recreational boating. The real insurance numbers are based on just having minimal safety training. The companies don't translate the amount of training to issue a rate for recreational purposes. They don't even do it for commercial isurance so long as you have the required certificates.

The really horrific numbes are that just having the USCG Power Squadron course means your odds of having an expensive claim drop enourmously. For insurance purposes they are going after the "drunk and stupid" crowd here, not how well you know the Collregs. Storm damage and fatalities are where the money is.

A commercial certification is for commercial purposes. If you conduct commercial activities on a boat your recreational insurance is worthless and you fall subject to certification requirements. So a USCG Merchant Marine Officers license is still all it is but is won't get you a bigger discount neither will a CPA certificate or a Pilots license.