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Old 27-02-2004, 06:21   #16
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My coverage is for the Great Lakes. I'm sure it will cost more when I leave the lakes this summer. But I will worry about that then.
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Old 27-02-2004, 09:07   #17
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insurance

After reviewing quotes from 4 different companies, we finally decided on the Jackline Policy from IMIS. Coverage area includes coastal Maine to Texas plus the Bahamas and Turks and Caicos. We have a 1% deductible, and the total cost (incl. personal property, personal liability, medical, etc.) is .96%. Best part is we only have to be out of the hurricane box (anywhere north of Florida) from July 1 to Oct. 31.
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Old 28-02-2004, 09:56   #18
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Location: Fredericton, NB, Canada in the summer and fall; Caribbean in winter and spring aboard Cat Tales.
Boat: FP Tobago 35 (and a H-21 SE)
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My 1996 Tobago is covered for Atlantic Canada, within 150 miles of land and all inland waters, by St. Pauls, for an annual fee of less than .5% of it's value. I can take it to the Caribbean Sea for ~0.9% of its value, but cannot be there within the hurricane season from June 1 to November 30. They have just verified that they will allow me to go to the Caribbean via Bermuda, with a short layover.

As a result of some hard negotiation by another boater, they will now allow boats to remain in Grenada during the hurricane season. Apparently the last hurricane to hit Grenada was in the 1930s.

I guess I should go look up the deductible for this post. I recall that there is a special large deductible for damage by a "named" storm system.

I understand St. Pauls is a large underwriter. The Toronto branch is affiliated with the Canadian Yachting Association, and I think with the Canadian Power and Sail Squadron.
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Old 29-02-2004, 04:58   #19
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I pay about 2.5 % of the agreed value of the vessel.

The reason for the high premium is probably the age of the boat, 26 years, and the year around Florida, Bahamas coverage, including named storms and all.

The new company I went with is Boat US...Their quote was about in the ballpark, after the huge increases we have seen in Florida insurance over the last year.
Several companies pulled out of Florida, the remaining ones jacked up the rates 200 and 300 %.
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Old 01-06-2004, 17:12   #20
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I currently pay progressive .86% of the boats value at 1% deductible. At $1,161 per year, I find this to be high. I am currently sailing in Puget Sound but will be leaving US in a couple of years.
My boat is 26 years old but in better than new condition.
I recently contacted Blue Water Insurance and Jack Martin Associates in Florida but both are higher than what I am paying.
They have the ability to cover me down the coast to Mexico but outside this area, will have to switch to a company in London.
I agree with most of you, might have to forgo the insurance while cruising.
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