450: Insurance

[scarlet]

Sorry for all the questions..

Can I ask what you all pay for insurance for your Lagoon 450 (or comparable boats.. like 420, or 440).

We put in an offer for a 450 which is around the mid $400,000's and we are trying to figure out how much we need to plan for Insurance...

Perhaps you could provide your insurance carrier...

[DK2]

What’s your intended usage area, and what is your experience/qualification levels, both make a difference

[scarlet]

Originally Posted by DK2

What’s your intended usage area, and what is your experience/qualification levels, both make a difference

So, I consider us "advanced beginners". We've been sailing for 6 years, we have 4 ASA certifications.. have chartered catamarans twice.. we have also done some racing.

As far as our usage, we will be keeping the boat in Virginia for the first couple of years. I think that is outside the hurricane zone...

[a64pilot]

Your buyers Broker if they are worth their salt should be able to give you some recommendations.

I had never sailed anything in my life and had never taken a class, but had significant “big boat” experience with 45’ Sport fishermen, and that was all my Insurence cared about. I’ve never heard of anyone getting discounts based on the number of ASA classes they have taken, which I think odd.
I wouldn’t sell myself short when talking to the Insurence people, if you have significant experience in this size of boat, tell them how much.
Strangely mine didn’t care if it was power or sail.

[jbinbi]

1500 yr for my 380 new at a cost of 330

[Pelican_38]

Scarlet - I am in Virginia and most of my insurers consider it "inside" the hurricane zone. You'll probably need a hurricane plan filed.

If you are at Leavenworth and coming to Virginia - I assume you are Army? If so, welcome to VA (and if not, welcome anyway).

[jkleins]

Markel doesn’t consider Virginia in the hurricane zone. We don’t need to file a hurricane plan or anything as long as we stay north of the FL-GA border during the season. When we limited our travels to just the Chesapeake we got a much better rate.

Jim

[RoadRacer]

Pantaenius.
Agreed replacement value of $500K on a new Lagoon 42.....$2.5K/yr.
Boat is kept in Annapolis MD with the FL-GA line as the southern coverage boundary.

[Spear06]

Originally Posted by RoadRacer

Pantaenius.
Agreed replacement value of $500K on a new Lagoon 42.....$2.5K/yr.
Boat is kept in Annapolis MD with the FL-GA line as the southern coverage boundary.

Good luck if you have a claim with them. Took me 2 years to settle mine and they wouldn’t return emails or phone calls for months!

[Pelican_38]

Originally Posted by jkleins

Markel doesn’t consider Virginia in the hurricane zone. We don’t need to file a hurricane plan or anything as long as we stay north of the FL-GA border during the season. When we limited our travels to just the Chesapeake we got a much better rate.

Jim

Good to know. I don't want to be limited to Chesapeake year 'round, but if I can limit that during hurricane season that's a smart compromise.

My quote was from Geico.

[scarlet]

Originally Posted by RoadRacer

Pantaenius.
Agreed replacement value of $500K on a new Lagoon 42.....$2.5K/yr.
Boat is kept in Annapolis MD with the FL-GA line as the southern coverage boundary.

This is very close to what we were quoted.... thanks!

[Millerslocal]

We have a L450F 2011, sail year round in Maldives. Insured with EIS European Insurance & Services GmbH in Germany, as originally when we sailed Med to Maldives they were the only one's willing to cover Red Sea passage.

Insured for €355 000 and costs €5200/yr.