Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 09-07-2011, 12:50   #16
Registered User
 
SabreKai's Avatar

Join Date: Sep 2008
Location: Toronto, Canada on Lake Ontario
Boat: Roberts Offshore 38
Posts: 1,287
Images: 5
Re: I Need 300k in Liability Insurance

$300K?? Hah, I sneer at your pittance worth of liability.

I just got the insurance slip for the spit kit, Kona Winds. Boat worth $5K but must have $2 Million in liability. We do things differently up here.

Sabre
__________________

__________________
SabreKai
SV Sabre Dance, Roberts Offshore 38
http://sabredancing.wordpress.com/
SabreKai is offline   Reply With Quote
Old 10-07-2011, 05:20   #17
Registered User
 
brankin's Avatar

Join Date: Jul 2010
Location: Florida
Boat: Endeavour 43
Posts: 232
Re: I Need 300k in Liability Insurance

I am also looking for an Insurance carrier but I am looking for the best quality and service for the buck. I don't want to be holding an empty bag if something goes wrong. I would be nice if the members of the forum could state their carriers and their opinion of the carrier much like the feedback on ebay. Then we could compile a list and put it on the stick list.
__________________

__________________
brankin is offline   Reply With Quote
Old 10-07-2011, 08:49   #18
Senior Cruiser
 
osirissail's Avatar

Cruisers Forum Supporter

Join Date: Feb 2009
Location: A real life Zombie from FL
Boat: Gulfstar 53 - Osiris
Posts: 5,416
Images: 2
Re: I Need 300k in Liability Insurance

Quote:
Originally Posted by brankin View Post
I am also looking for an Insurance carrier but I am looking for the best quality and service for the buck. I don't want to be holding an empty bag if something goes wrong. I would be nice if the members of the forum could state their carriers and their opinion of the carrier much like the feedback on ebay. Then we could compile a list and put it on the stick list.
Actually, the various insurance options and companies have been talked/posted about on CF and other forums like SSCA for years. Although there are probably only about a half dozen, at most, insurance companies who write policies for really international cruising - there are hundreds of local insurance options for folks who still have homes and land dwellings.
- - The basic system of marine insurance works through "agents" or "brokers" and there are an unlimited number of those. They take your information and assess your needs, get the data about your vessel and then "shop" the actual insurance companies to see what is available and how much it costs. They then tell you the options they have found and collect your premiums, keep their cut and (hopefully) send the rest to the actual insurance company.
- - Since the "market" for recreational international cruisers is extremely small, the actual insurance companies come and go fairly frequently whenever there is a major event that wipes out a lot of boats. And you will never know about which ones will fold until it is too late.
- - However, there are the old mainstays who have been in the market for a long time and weathered various storm-caused large losses and the most reputable "agents/brokers" deal only with those. So it is important to find a reputable agent/broker more than trying to deal with anything else.
- - There are constantly new and enticing advertisements for "new" low rate coverage popping up in boat magazines and internet advertisements but these are by and large either scams or new companies that have not had major event losses and been put out of business.
- - As to permanently publishing claims experiences by cruisers that is a none event as upstarts will bring lawsuits and harassing actions against anybody or any organization that tries to publish negative information. That is an old trick and very successful at suppressing negative information about a company or business entity. But such information does "leak out" occasionally and if you search the archives of various forums you will find these "reviews." You will also find a hundred contrary posts from fake posters trying to suppress the one honest review.
- - So ask around the marina or boatyards or anchorage from real live cruisers/boaters who they use and what their experiences are and you can get a feel for what is currently available. But as I said, except for the handful of old-time companies and broker/agents, things change dynamically as Mother Nature clobbers a new batch of boaters.
__________________
osirissail is offline   Reply With Quote
Old 10-07-2011, 09:16   #19
Registered User

Join Date: Mar 2008
Location: Houston TX
Boat: Pacific Seacraft 25 "Turtle"
Posts: 364
Images: 35
Re: I Need 300k in Liability Insurance

I have State Farm for my cars and they give me $500k(their minimum amount) for $55.00 per year. I've never needed to use it so I don't know if it's actually any good or not but I've never had a problem with them paying a claim for anything else........m
__________________

__________________
I must go down to the sea again.........
cantxsailor is offline   Reply With Quote
Reply

Tags
insurance

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Insurance ? limmer General Sailing Forum 12 26-08-2011 22:37
Charter insurance for a not brand new catamaran off-the-grid Boat Ownership & Making a Living 0 27-06-2011 12:39



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 11:58.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.