Insurance - Pantaenius USA - Non Renewal

[emcmia]

Originally Posted by Sand crab

Try BoatUS, they took care of me great with my claim. I think Geico bought them out recently fwiw.

I also suggest Boat US.
Claim last year was handled professionally/hassle-free and to my favor in all respects. My home port is Miami. Annual premium for domestic (i.e. USA) cruising is currently about 1.75% of agreed hull value; Bahamas and Carib coverage increases premium to just slightly over 2%. (Other than being a policy holder, I have no business, commercial or personal affiliation with Boat US/Geico.)

[belizesailor]

Yep, its an ugly trend...dramatically rising rates, non-renewals, difficulty finding coverage...

A broker found me a GREAT deal on full coverage in 2017 and then I got a non-renewal notice in 2018 which, combined w other factors, finally nudged me into going liability only.

None of the above events involved Pantaenius, but it does seem to be an industry wide trend.

[Elie]

Originally Posted by Cpt Mark

I looked for liability only this year and was told it no longer exists in the U.S. Do you know of someone who does?

Yes, where to purchase liability insurance for sailboat?. That would be very nice!

[Chotu]

Originally Posted by Cpt Mark

I looked for liability only this year and was told it no longer exists in the U.S. Do you know of someone who does?

It definitely exists. I have liability only through Progressive for one of my boats.

[MultiCountryDon]

I he had several insurance companies cover my boats but Kevin Severance has saved me a ton of money. Call him and he will talk you thru all of the options . Extremely helpfull without the BS.
Kevin E Severance
kevin@insurancenavigators.com
281-333-3100

[northwestsailor]

We have liability only with State Farm. Don’t tell them but is seems fairly priced.

[sailcrazy]

We leave our 43'monohull in Puerto Del Rey Marina,Puerto Rico from May-Nov, on the hard and well strapped down to 2 massive concrete beams. Insurance was not an issue....until this year's renewal. We were here for both hurricanes, with no damage, and have never had an insurance claim in over 30 years of boating. But this year's renewal gave me one premium "offer" for 170% of last years premium, and another for 320%. We chose a no-Named-Storm policy, at 98% of last years premium....and we're still looking for a Named Storm coverage policy. Any suggestions on whom to call ? Geiko told me they insure from Maine to Texas---only! And BoatUS is conus-only, too.

[kcj]

May want to check with geico /boatus again. I have a quote in hand that includes Bahamas and turks, and several friends have same rider... And their rep assures me they will provide coverage for Bermuda and the eastern Carib, it just is done on a one off basis with a more detailed review of sailing resume and may require a rigging survey - - which I would fo anyway...

And I was non renewed by pant.. Due to reducing exposure....

[gmakhs]

Insurance is being a big issue , the way companies behave it doesn't make any sense and it will be better if more people.change to liability only , so maybe they will change their policies.

[Ostinato]

I don’t understand why you’re using an agent with Pantaenius US. I deal with them directly. I would call them and at least confirm what you have told. They just issued me a new policy this month.

[blueblaze]

May I ask which two companies gave you quotes? I am a cruising agent and would be happy to see if I could help but no point if you have gotten quotes from the companies I can go thru.

[Catopia]

Originally Posted by MultiCountryDon

I he had several insurance companies cover my boats but Kevin Severance has saved me a ton of money. Call him and he will talk you thru all of the options . Extremely helpfull without the BS.

Kevin E Severance

kevin@insurancenavigators.com

281-333-3100

Thanks!

[Catopia]

Originally Posted by blueblaze

May I ask which two companies gave you quotes? I am a cruising agent and would be happy to see if I could help but no point if you have gotten quotes from the companies I can go thru.

The two quotes are Novamar and Concept.

[blueblaze]

Ok, there are a couple others I could send it to. I can send you an app. What is your email?

[hellosailor]

"it will be better if more people.change to liability only"
Unless you have purchased your boat outright, paid it off, and have no loan on it?
You'll need more than liability insurance. Lenders will require full coverage on the boat, the same way that mortgage lenders will require extensive insurance coverage on a house.

And unless you have the spare cash so that you CAN self-insure and simply walk out and buy a new one? Self-insurance or liability only can be major risks. That's why folks buy insurance. Or, a disposable boat.