Boat Insurance

[mike d.]

hello all!!!! just received disturbing news from my underwriter as of end Dec. 06 my insurance policy will be cancelled, non-renewable as their carrier will no longer insure my size boat (37') and age 27 yrs old, in our area of use N.E. they will only insure 30" and under. no i have not had any claims with any carrier.!!!! go figure? anyway does anyone know of a good ins. carrier i checked with Boats U.S. when we bought 2 yrs ago and they were $500 more than Nat. Marine Underwriters. any info would be greatly appreciated. thanks in advance i hope

regards mike

[alaskadog]

Mike: I have had good results insuring both sail and power boats with BoatsUS, Allstate and Progressive if you are not taking the boats to foreign waters or very far offshore (BoatsUS does allow you to take a boat to the Bahamas with a special rider, if I remember correctly.) I currently have my US waters insurance with Progressive which was even less costly than Allstate. BoatsUS is good but costs more than either. I was insured with Progressive when Hurricane Ivan hit here two years ago and had a claim as a result of that storm. The response by Progressive was outstanding. I still have insurance with Progressive which covers me locally and up to 50 or 100 miles offshore here in the Gulf of Mexico. Progressive will not insure me for going to foreign ports. If your boat does not have a fairly recent survey then I would suspect any insurance company will require that a thorough survey be performed on any boat of the age of yours. You can call Progressive direcly. Go to their website and get there toll free number.

[markpj23]

IMIS is a usual favorite although they do have hurricane season exclusions. Markel Marine Underwriters is a bit more spendy but no hurricane exclusions.

[Harriet]

Keep in mind that IMIS is an insurance broker, so they can shop an insurance company and policy based on your needs. One of the policies they sell is Markel's Jackline policy, which is very good for a couple, and can cover whatever cruising area you choose. I am not sure if "Markel Marine Underwriters" is the same company.

[mike d.]

Harriet and Markpj23 thank you for your response i'm sure you know how much of a shocker these things can be from experience. anyway Mark read your last thread answer, i hope you and the missus have given this a lot of thought. i still feel that your grand daughter would be better served if you took her away from the enviroment she is in now. i know i am typing out my pie hole but as someone who took 29+v yrs to get to the point of getting here i can imagine how difficult your decision was to givec up your dream. i wrote you a message when you posted. i am fairly newq to the forums, and could not believe the setback you and yours have been delt. i am not making lite of your situation. you both must be saints. it must have been a very stressfull decision. Harriet please don't think i am ignoring. thank you both for the info. the info will be checked out Tues. am (starts our weekend) i need need to get this resolved post haste as the boat will be pull the mid. Oct. for storage and cannot be without it or they will have boat moved off the prem. imagine that , i,ve known the owner/now mngr for 30 plus years. well again thank you i will get quotes from both and let you know what turns up. harriett (she's the woman no sarcasm ment trying to be a gental man. so you acknowledge them first i hope in todays world????? don't know what's right any more (let's not get into that), was taught to treat women with respect now you can't unless you ask permission,. anyway Harriett thank you Mark and missus and Grand-Daughter good luck/ God Speed hope every trhing works out for you'all. that took a lot of guts and selflessness on your part. again thank you for the info and your time. Markpj23 looks like your having a great time with the retirement

[mike d.]

Alaskadog thank you for the info on ins. will check on Tues as that starts our weekend. greatly appreciate the timely response. as we want to get this taken care of asap. as i said to Mrkpj23 and Hariett will let you know how i make out. please don't i am being short drive jet tankers for a living a little tired just got off shift again thank you all for your reply get back to you soon.
regards mike

[mike d.]

markpj23 and alaskadog replied but don't know where last post went if anywhere. can't rem. what i wrote. sorry drive for a living just got in a little tired.? mike

[alaskadog]

I have used IMIS to get offshore/foreign area insurance for me in the past. I chose to use their Jackline policy which is one of the choices that I was given when I was searching for "bluewater" insurance. They are an excellent brokerage/agency with agents who are sailors or former sailors and I believe will work hard to secure a good policy for you. However, the Jackline policy is very, very expensive compared to even what Boat US offers. Of course, I realize this is an apples/oranges situation in that BoatsUS does not offer "bluewater" insurance. My boat was fairly new (only five years old at the time) and I was required to have a very thorough in-water survey at my own expense. An older boat would probably needed to be hauled out for the survey. Unless the Jackline policy is offered for situations involving near-shore and non foreign/bluewater situations in which premiums may be vastly cheaper, I know of no reason why anyone would choose a Jackline policy. A further point regarding the Jackline policy that is offered by IMIS. There are huge/enormous penalties if one cancels early. And Jackline offers no protection for hurricane prone areas in the southeast. Just a few thoughts regarding insurance.

[jean1146]

It is time for us to start shopping for insurance,we are getting our new FP cat hopefully in november. so far got one quote ,I thought it was kind high,almost $5000 for $200.000 coverage.and it is in the UK. any sugestions ? Thanks.JC.

[FSMike]

mike d -
You might try sending a pm to YOGAO on this forum. His wife is in the biz. and she seems pretty sharp. Since they are cruisers they understand the problems. No, I don't have a business relationship with them.