sailing without boat insurance

[Tigerlily]

I have read that many people consider sailing without insurance instead of paying the high monthly cost when far from home waters. They reccomend puting that money into an account and using it as their own type of insurance if something breaks. Does anyone reccomend this? Is this even legal, or do ports demand proof of insurance on entering?

[Talbot]

Most ports and marinas will insisste on at least 3rd party insurance cover, and I would not consider sailing without at least this level of cover. You might be able to absorb the loss of the equity in the boat, but if you had to then pay for removing the wreck and any clearance operations, you could lose rather more than you can afford.

[sv_makai]

When we left the Chesapeake bay a few years back we started to travel south and a few fuel stops asked for proof of insurance before allowing us to tie up to refuel.

As for cruising without insurance we never would. If I was sailing a 30-40K boat and had a very cheap dinghy I would consider the risks, but we are not.

You have to look at the odds. If you lose you boat or some moroon hits you 10 years down the road you proabably would have paid for an inexpensive boat. But what happens if it is year one and the idiot docking next to you uses you as a fender or drags down on you and he doesn't have money either. Wee have seen it a lot and it is ugly (especially in the windwards)

We have friends on Amorita that fit this. No insurance on a beautiful 40 yeear old boat. They were hit by jet skiers in Curacao. The driver was killed and passagner was put into a como and no one had insurance. The jet skie embedded itself so far into the boat (1 1/2 inch thick planked) the the bow was on the centerline.

Who paid. Amorita's skipper did. No they are going to loop the Caribe and head back to San Diego this year insdie of the 3-4 they planned.


Many of the boats our here are un-insured (bummer for those in Ivan and Emily) and since they have no money and you in a foreign country restitution can be tough.


Accidents happen, but the the desicion to carry insurance should be an informed one and not because it would save cash. It can be false economy. Just understand all of the impacts.

[Strygaldwir]

Okay, Insuance is a good thing. Now, where do you get it? Especially when headed off-shore (US that is)? It really can be quite a hassle to obtain. I had to have a survey done to prove value. If I didn't need to pull the boat for other maters, that was $800 right there. Then, of course the cost. I don't know what that will be, yet.

The only place that has asked to see proof of insurance was Ft Lauderdale Marine Center when I hauled out. They even called to make sure I did not forge the proof. No one else has asked.

I definately get coverage, at least for the first couple of years. Then, I am no so certain.

Keith

[Jon D]

If you are going offshore there are companies that specialize in insuring full time liveaboards and cruisers.

I can recommend that you talk to Al Golden at IMIS as one example of a broker who knows this market. The Jackline policy he does is pretty unique however not the lowest cost.

http://www.imiscorp.net/

[sv_makai]

One of our cruising friends just got thier Jackline renewal. Yes it is expesnive, but the worst is the range. They must be below 10 degrees 30 minutes. Basically Trindad and the SA mainland.

Venezulian outislands and the ABC's are out.

This limits cruising during H season.. We spend most of H season cruising the outislands and the ABC's.

The new limits pretty much let you sit in a marina for H season, not much fun

We use offshore risk out of FL. Good coverage, 12 d 50 M and this renewal we had a rate reduction!

[Harriet]

As with most things in life, you get what you pay for. While I can't comment on Makai's insurer, I can tell you a little bit about IMIS and Jackline. We had an accident last year in Nassau, and the company was fantastic. They covered things I never thought would be covered (i.e., security dusk to dawn). And buying through a broker gives you someone in your corner should you start to butt heads with the insurance company.

We have not started getting quotes for the Caribbean yet, so I don't know how that will affect our insurance decisions. But for coastal U.S., Jackline allows us as far south as St. Mary's, GA from July 1 (a month after the start of hurricane season) to November 1 (a month before the end). That definitely works for us.

[sv_makai]

We too had heard of nothing but good reviews of Jackline. I was not trying to say they were a lessor company in any fashion. Many of our friends use them and love them.

I was only pointing out there changes in H season and that has a big impact on crusing during the H months down here.

[dkall]

Interesting comment by the Pardey's at last years Miami show.

They said bluewater w/o insurance. When you get to where you're going, get a local insurance company to cover you (if it's required).

I do remember reading of a cruiser in Mx on the West coast that had done this. They reported some accident and said the local insurance agent was great. Could relate to the local yards and get exactly what was needed done.

Any interesting way of dealing with insurance needs.

[Al Golden]

Capt. Bil:

We aren't too happy with the change in the southern boundary either. (BTW it's 10°50' North) Keep in mind though, that:
1. The Jackline policy does NOT say that your yacht can't be in the box during the period, but simply excludes Tropical Windstorm damage if it is.
2. That means you can still cruise anywhere in your normal navigation area, as long as you're willing to accept the Tropical Windstorm risk.
3. Further, there's hardly any place down island that isn't a day or two sail from from the covered area, so upon any kind of warning you just get on your horse and head south.

Fair winds,

[GordMay]

Maggie & I (Cdn) spent 9 years cruising & living aboard (summers in Florida, winters in Bahamas) without any insurance.

[Euro Cruiser]

Tigerlilly, here are a couple of add'l thoughts re: insurance:

Given your boat search, it appears you'll be cruising on a modest budget. That will probably force you away from hull insurance when offshore, tho' keep in mind that you can seek liability coverage (damage done by you to others) alone which is usually very inexpensive. This is the kind of coverage typically required by a marina or fuel dock.

If heading E from N America, I would recommend liability coverage because it's more commonly preferred in Europe. Of course, if you plan to sail during the winter (e.g. in Greek waters) and don't plan to be using marinas, the need for this lessens. OTOH if you are heading W and into the Pacific, I would locate a broker who can provide you liability insurance (IMIS is an excellent source) but not obtain it until you find you need it, as you won't find this a requirement in almost all island nations.

BTW I was glad to see the post which clarified the Jackline Policy, as I think the restrictive 'box' is often irrelevant for sailors during hurricane season. E.g. I would have no reluctance visiting the ABC's during hurricane season as they simply don't have storms that far W; the same is true for the Aves & Roques (VZ island groups). There is a difference between coverage for named storms and coverage generally, and riders are available if one must transit an area where the boat is at risk of encountering a storm.

Jack

[Boracay]

There are some interesting comments on insurance underwriting at :-
http://www.caribbeancompass.com/underwriting.htm

[Bill Balme]

Insurance looks like it might be tough to get for our upcoming voyage across the Atlantic, down to the Med as far east as Turkey - and Lordy, even south to the African Coast.
With only a year and a half true sailing experience behind us, no insurer seems to want to know us...

[Weyalan]

Around here (Australia), many marinas will request insurance details if you want to berth for the night. I am not a big fan of insurance, but considering that in a cruising situation, your boat is your home, the consequences of losing that home, uninsured, would convince me of the (evil) necessity of insurance.