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Old 28-07-2009, 10:03   #1
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Question Insurance Hassles Anyone?

So I am damned if I don't and damn if only I could. I took the plunge and bought a lovely formosa 41 which is in great shape and with some tweeking and a set of sails will be ready to go. I have taken her sailing 5 times and an overnighter to santa Cruz with the family. Beautiful.......

I cannot get insurance. Aussie companies wont touch a boat in the states. US companies wont touch an Aussie who needs to be here for a few months. Marinas wont let me in and the number of safe places to stop your boat without insurance are few and far between.

Help please!

Ideas, experiences, advice and most of all a safe place to park these things would be real handy right now.
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Old 28-07-2009, 12:28   #2
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The agents at IMIS quoted me an insurance company from overseas, so they might be worth a try if you haven't talked to them yet.

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Old 28-07-2009, 12:34   #3
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If you are needing insurance you are also going to need a recent survey. Most companies require one and the age of it would be a good question. Liability coverage is all you really have to have to keep the marinas happy. They want coverage in case you sink and spill fuel. Those cleanups are more expensive than you can imagine.
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Old 28-07-2009, 13:36   #4
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So I called IMIS they seem very nice. I have again handed out all my personal details and a copy of the survey. I will await their reply........

How many insurance companies do I need to call before I am allowed to give up and still be responsible?

The us companies won't insure an aussie and australian companies wont insure in the states. English companies wont do just liability insurance?

I cant stop anywhere without insurance and I cannot leave yet because the wind sucks and really blows getting it.

What to do?
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Old 28-07-2009, 13:51   #5
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You may not be able to get hull insurance but should be able to get liability insurance. The marinas are looking for liability coverage.

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Old 28-07-2009, 13:52   #6
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What to do?
Patience. Being in a hurry is always the worst idea. It leads to poorly thought out plans and prone to mistakes.
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Old 28-07-2009, 13:54   #7
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Is there anyone who HASN'T had boat insurance hassles?

One option is to get liability insurance only. Most of the hassles relate to survey deficiencies (real or imagined). If you can suck up the risk of loss of the boat (for instance an older mostly depreciated 'dame' such as mine, where the intrinsic boat value is not SO much), then it all becomes much easier.
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Old 28-07-2009, 13:55   #8
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hull insurance for older boats is really expensive and pretty much a rip off .. liability is cheep. ask me why i only have liability.
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Old 28-07-2009, 14:02   #9
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What to do?
Send member tackdriver a PM - he has probably already discovered all of the answers you need, including those to questions you haven't even formulated yet.

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Old 28-07-2009, 14:43   #10
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The Insurance companies will only give me the full $2000 package and then restrict my a$$ so I cannot go anywhere???? I have been asking just for marina liability and they all say no???
Its the aussie stuck in the states bit that is the issue, I have been asking for only liability coverage. Without it where can I park????????
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Old 28-07-2009, 15:35   #11
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Where are you currently in port? There must be better alternatives out there.
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Old 28-07-2009, 17:41   #12
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Anchor and dingy?

That's how I roll!!
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Old 28-07-2009, 18:00   #13
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This is relative to an issue that has been weighing heavily on my mind also KharmaSeas. My wife and I intend to travel to the US around October to purchase a suitable 40’ish yacht in the price range of A$60,000 – A$100,000 and slowly sail it back to Oz via Mexico and the Marquesas over a period of 6 to 12 months. The problem is we have no sailing experience as of this moment (I wont go into details of what training, precautions etc we will implement here as I don’t want to go off topic) and am a little concerned about the insurance side of things as the cost of the boat will take a fair chunk of our life savings. Your dilemma however adds another twist to our own concerns.
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Old 28-07-2009, 22:31   #14
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If you have automobile insurance in Aus. contact your agent and tell him you bought a boat and just want $300,000 Liability insurance on it and see what happens. Don't volunteer any info about where the boat is. Thats how I got mine, and a better deal then anywhere else.
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Old 28-07-2009, 22:37   #15
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Kelstev--Make a condition of sale of the boat, that it has has a transferable insurance policy before you buy. You would be surprised what a Broker can get done to make a sale!
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