Insurance for Offshore and Caribbean

[Sonosailor]

Hi folks:

My insurer just cut and run, as a result of the hurricane news this season. I need insurance for a two year stint from Canada, to Bermuda, to the BVI, through to Trinidad, and then through the islands to home in the second year. The plan is to lay up the boat to the south of the hurricane area during the next hurricane season. Any names and contacts for companies you know offer this type of insurance would be welcomed.

I have had a new survey done on Friday, and can provide it quickly. I have only one line on a potential insurer, and need a backup plan, as I hope to untie the boat and start the trip next week.

The boat is a 35 foot catamaran, in excellent shape, and the captain (me) has AP designation through the Canadian Power and Sail Squadron. No problems with past insurance or driving, on water or land.

[exposure]

An interesting note from here in the hurricane magnet we call Florida. Most insurance companies will not write policies if there is a named storm within a certain zone. With the progression of storms we have had lately, we are going on over a month without a break from this restriction. This is true with homes as well as boats. In many cases home sales have not been able to close because buyers cannot get an insurance binder.

You may be better off extending your limited sailing area coverage, or purchasing a new limited policy, until the end of hurricane season, then buying a wider ranging policy.

You might try http://www.jackmartin.com/ . My policy was purchased through them. I met the owner at the SSCA Gam and he is a cruiser. In fact he owns a cat.

Good Luck.

[Vasco]

Sonosailor,

It's been my experience that it's difficult for Canadian vessels to get offshore or even a rider for cruising out of usual waters insurance. The best I've had in the past was with Chubb. However they placed a new restriction on the policy a few years ago - no south of Cape Henry before Nov 1 and back north of Cape Henry by June 30. Another policy with Skippers Plan (Aviva) increases the deductible to 10% of insured value in a named storm. If you have a Canadian address American insurers will not quote you even if the boat is in US.

[exposure]

You might try Pantaenius. They are a popular European company. They have recently opened a US office. Maybe the office in the UK will help.

http://us.pantaenius.com/

Just trying to offer some suggestions...

Woody

[sv_makai]

We had a heck of a time getting insureance in the US for Makai. As explained by many agents underwriters are pulling out of the market in the US because of litagation expenses and post 911 issues.

We used Off shore Risk and they have taken good care of us to date.

There are several insurance carriers here in the caribbean that cover this area once you are here. I have heard many good reports and have started researching a few.

I will provide more details as I learn them.

[Wahoo Sails]

Make that 2 votes for Offshore risk management.

L S/V Eva Luna

Bob

[MLC101]

We have used Al Golden at IMIS in Maryland and the coverage and support is excellent. They offer the Jackline policy through Markel. After the hurricanes in in Florida and Grenada (our boat was in Grenada and directly in the path of IVAN the terrible, but fortunately undamaged), we got to see Golden and Markel in action and were very favorably impressed. Though we did not have a claim, several other boats did.
I don't know if they can cover Canadian vessels, however.
Peace and Fair winds.

[sv_makai]

This is also posted in another insurance thread.

We received our renewal from off shore risk. Our insurance went DOWN $300/yr.

We were expecting a large general increase becasue of the huricane activity in 2004.

[Sonosailor]

Hi:

I got the insurance, sailed the boat to Trinidad, and am now back into Canada during the hurricane season.

We had found a potential insurer, and paid $700 to have the boat resurveyed. We were on our way downriver to the ocean, when the new insurer got his quote to us. However, some emails to the original insurer got them moving, and they came in with a better policy. Soooo, we were out $700, but back with St. Paul Fire & Marine Insurance.

Thanks for all your assistance. Discussions with other cruisers brought back the same companies. Many other people suggested Pantaenius as a good company, even with claims.