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Old 02-09-2019, 13:09   #1
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New to insurance

Ok - I can’t wait for this ......

New to owning but have the following experience :

Me : 15 years bareboat experience on monohull and Cat from 36’ to 55’ - 30 days as skipper, 3 days offshore, 2 nights on voyage,qualifications : RYA Day Skipper and Coastal Skipper, Offshore survival course, VHF.. 100 days sailing experience

Wife : RYA Day Skipper and VHF

If we are looking to buy a 50’ Cat for initial 6 mos in the Med to get acquainted to the boat, then going across Atlantic to all points East are we going to face problems with getting insurance ?

Boat value £500k

Not interested in those who say ‘’go smaller’ or ‘go cheaper’ just interested in an answer to my question - thanks
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Old 02-09-2019, 13:17   #2
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Re: New to insurance

I've never been asked for details of experience, surprisingly. Shop around, I'm sure you'll find plenty of quotes, and recommendations on this thread no doubt.

Wouldn't places the other side of the Atlantic be west?
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Old 02-09-2019, 13:21   #3
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Re: New to insurance

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Originally Posted by Tillsbury View Post
I've never been asked for details of experience, surprisingly. Shop around, I'm sure you'll find plenty of quotes, and recommendations on this thread no doubt.

Wouldn't places the other side of the Atlantic be west?


Oh bloody hell ! Yes ! West ! Thank you
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Old 02-09-2019, 17:18   #4
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Re: New to insurance

Yes and no. Offshore insurance rates and availibility have gotten much tougher over the last few years. This means costs have gone way up, vendors have gotten out of the market and policies have gotten more restrictions. By the time you need offshore insurance you will have near a year of ownership, so this should help. Your boat is valued high enough that the brokers will want your business. Worst case might be along the lines of the insurance requiring additional crew for the trans-Atlantic crossing and charging a pretty penny.
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Old 02-09-2019, 18:42   #5
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Re: New to insurance

insurance has changed since irma.....and after dorian it will only get harder to get boat insurance....but it will always be there at a price...
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Old 21-10-2019, 22:14   #6
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Re: New to insurance

Hi.
We are in the same position.
We are just in the process of buying a lagoon 440 and are struggling to get insured. As soon as we say circumnavigation they literally put the phone down on me. What I have found is that you can get insured if you take out individual insurances per region. For example Mediterranean as 1 insurance. Then forget insurance crossing the Atlantic then get a new policy for the behamas and Caribbean. Etc etc. it’s not ideal so if someone can offer any further advice or companies that could help that would be awesome.
Best of luck with your insurance. Please keep us informed of your outcome

Regards. John.
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Old 21-10-2019, 22:30   #7
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Re: New to insurance

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Originally Posted by John marven View Post
Hi.
We are in the same position.
We are just in the process of buying a lagoon 440 and are struggling to get insured. As soon as we say circumnavigation they literally put the phone down on me. What I have found is that you can get insured if you take out individual insurances per region. For example Mediterranean as 1 insurance. Then forget insurance crossing the Atlantic then get a new policy for the behamas and Caribbean. Etc etc. it’s not ideal so if someone can offer any further advice or companies that could help that would be awesome.
Best of luck with your insurance. Please keep us informed of your outcome

Regards. John.
Insuring by region is ideal. If you insured for a complete circumnavigation you would pay the highest premium of anywhere you plan to travel. For us coverage for the Indian Ocean has been much higher than other places. Unless you are going at World Arc speeds, take your insurance one year at a time and only cover where you will be. It will be much easier to obtain, cheaper and will match a little closer to what you actually end up foing. As you are very likely to change your cruising destinations many times over the years.
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Old 21-10-2019, 22:49   #8
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Re: New to insurance

Thanks paul.
It would just be nice to just get insured for your boat regardless of where you are. But yes we will be insuring ourselves by region.
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Old 21-10-2019, 23:23   #9
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Re: New to insurance

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Originally Posted by John marven View Post
Thanks paul.
It would just be nice to just get insured for your boat regardless of where you are. But yes we will be insuring ourselves by region.
You can probably get that wide coverage as long as you are willing to pay 3-6x the regional premium. Just not practical.
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