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Old 26-03-2014, 17:51   #1
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Maxim Cat purchase and insurance questions

Hello CF community. My wife and I are in the process of purchasing a 2005 Maxim 380 catamaran. We were potentially going to put this cat in a sailing school and charter program close to where we live so we can learn the boat and systems as well as stock up the cruising kitty for a year plus. Slips are really tight where we live.

We ran into an issue with the school's insurance broker getting the required charter insurance from their underwriter ACE. He stated that the Maxim catamarans were "red listed" from the underwriter, ACE, due to a large volume of claims over the years. Obviously this has stalled our process of placing the boat in the program close to home.

My questions are has anyone heard of issues relating to Maxim yachts and charter programs before that would preclude this type of boat from getting insurance? Why would ACE take this position?

I can't find any info anywhere about issues with Maxim builds, other than the molds were sold after the company went closed and the new "Maxim" may or may not have built boats with them.

Thanks in advance.
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Old 26-03-2014, 18:50   #2
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Re: Maxim Cat purchase and insurance questions

I'd have them call Progressive Insurance and mention both the Maxim and "Voyage" boats. The Maxim 380 Mk II, was also sold as the Voyage 380
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Old 27-03-2014, 02:49   #3
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Re: Maxim Cat purchase and insurance questions

Hi Danchua - We have owned a 2002 Maxim 380 for three years now. We did a lot of research before we bought our boat, and we did not find any references to this model of boat having "a large volume of [insurance] claims" over the years. Neither did we have any issue obtaining insurance.
I must point out however that ours is an "owners version", and that I cannot speak about the "charter version".
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Old 27-03-2014, 03:05   #4
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Re: Maxim Cat purchase and insurance questions

Mine was put in the water November 2002.Use it every day in my business and just ticked over 5000 hours on the 3gm 30s . Haven't had any problems getting insurance.Would have thought there would not be a lot of them made let alone a history of claims!!!
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Old 27-03-2014, 06:28   #5
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Re: Maxim Cat purchase and insurance questions

Quote:
Originally Posted by Tropic Cat View Post
I'd have them call Progressive Insurance and mention both the Maxim and "Voyage" boats. The Maxim 380 Mk II, was also sold as the Voyage 380

Progressive isn't insuring anything over 35'.


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Old 27-03-2014, 07:31   #6
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Re: Maxim Cat purchase and insurance questions

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Originally Posted by smj View Post
Progressive isn't insuring anything over 35'.


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why not?
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Old 27-03-2014, 07:34   #7
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Re: Maxim Cat purchase and insurance questions

Quote:
Originally Posted by Tropic Cat View Post
why not?

I don't know. They insure my friends Maine Cat 30 as well as another friends Catalac 27 but have always turned me down stating they won't insure anything over 35'. I think Nationwide now has the same policy.


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Old 27-03-2014, 15:50   #8
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Re: Maxim Cat purchase and insurance questions

It seems I can get insurance from Progressive, but only within 125 nautical miles of the home port. Didn't check the commercial side however. I can also get pleasure insurace through several other brokers for a reasonable amount.

It seems a bit shady that this boat was denied by ACE for the charter insurance, and then the insurance broker won't tell me any reason and won't give me a number to contact for an explanation.

I can't find any reason why this boat model would have any issues. The survey came out really clean.
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Old 27-03-2014, 15:58   #9
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Re: Maxim Cat purchase and insurance questions

Some companies won't insure catamarans at all. Perhaps ACE is one of them.
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Old 27-03-2014, 16:08   #10
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Re: Maxim Cat purchase and insurance questions

This is and has been the response I've received from Progressive.
https://sliqd1.progressivedirect.com...ST=NC&Mobile=Y


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Old 27-03-2014, 16:14   #11
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Re: Maxim Cat purchase and insurance questions

I don't think the link worked. Here's the message I get.
Click image for larger version

Name:	ImageUploadedByTapatalk1395958465.362867.jpg
Views:	121
Size:	115.2 KB
ID:	78209


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