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Old 09-07-2010, 16:23   #1
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Pantaenius and Named Storm Plan

New requirement from my insurance carrier. Need to submit a named storm plan. Anyone out there submitted one with positive outcome? They determine your deductible based on your plan. Don't want to send the wrong message.

Thanks
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Old 09-07-2010, 16:52   #2
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What is your plan?
In the event of a named storn, you'll have to actually effect your plan.; so don't submit bullroar.
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Old 09-07-2010, 17:14   #3
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I have. It was 6 pages, including chartlets, photos, detailed anchorages and hurricane hole(s), and detailed plans for 72/36/24 hours, within 12 hours, during storm, and post storm.

I included line inventories, fender inventory, vessel preparation (storm covers, protecting windows, exterior assessment, antennas, and other details), fuel and water for the storm, securing the exterior, and post storm assessment. I don't know what the change in premium or deductible but the boss liked it.
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Old 09-07-2010, 20:59   #4
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I have one. Let me know if you want a copy. Just substitute my marina and harbour names for your own.
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Old 09-07-2010, 22:23   #5
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Insurance gets more challenging year after year. We all must cruise among the reefs of insurance loop holes, and named storm shoals.

And if you don't get everything right, you end up without insurance. At some point, insurance becomes a scam.
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Old 10-07-2010, 09:29   #6
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Thanks all!

Jeannius, I sent you a pm.
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Old 11-07-2010, 14:48   #7
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Insurance has indeed become a scam with any omitted detail ending in a denied claim. I've had it and have dropped most coverages. None on the boats and only fire and liability on my home. The premiums one faces when living in a hurricane zone are startling with the underwriters holding all the cards when loss is incurred. I refuse to be their hostage and own nothing I cannot bear to loose or replace. We are all to blame with there being no end to frivilous law suits and exagerated claims. This is of coarse led to the industry of personal adjuster. Costs go up and premiums follow although not proportionally. Sorry, good luck with your plan. Dave
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Old 11-07-2010, 14:55   #8
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Quote:
Originally Posted by DaveOnCudjoe View Post
Insurance has indeed become a scam with any omitted detail ending in a denied claim. I've had it and have dropped most coverages. None on the boats and only fire and liability on my home. The premiums one faces when living in a hurricane zone are startling with the underwriters holding all the cards when loss is incurred. I refuse to be their hostage and own nothing I cannot bear to loose or replace. We are all to blame with there being no end to frivilous law suits and exagerated claims. This is of coarse led to the industry of personal adjuster. Costs go up and premiums follow although not proportionally. Sorry, good luck with your plan. Dave
Unfortunately if you ever plan to stay at a marina, do a haul out for bottom work or repairs, or use a marina dry storage you will be required to show proof of insurance, liability at a minimum.
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Old 11-07-2010, 15:54   #9
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Unfortunately if you ever plan to stay at a marina, do a haul out for bottom work or repairs, or use a marina dry storage you will be required to show proof of insurance, liability at a minimum.
I think this depends on where you are and which marina. I have never carried insurance and have never been denied a berth in Santa Barbara or Ventura Counties in California. The same has been true in Thailand and Malaysia. Nor have I ever been asked for proof of insurance when hauling out.

Mike
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Old 11-07-2010, 16:29   #10
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Not all marina's require insurance. Of the 4 close to me right now, two do, two do not. I have been asked for insurnace for a pre-purchase haul out. But not every haul out I asked for has asked for insurance. Again, it seems to depend on the haul out facility. It usualy seems that if the marina requires insurance, the attached haul out requires it as well.

I understand the need for the yards and haul outs need for insurance. They need to be prectected aginst boat owner/opertator stupidity. At the same time, I understand the reluctance of the insurance companies to write policies, expecally in hurricane prone areas. One hurricane can kill so many boats at the same time that it can sink an insurance company. Even worse, the range in preperations for such bad weather make all the diffrence between an expensive payout, and no cost.

Is there a way to "self insure" and set up some sort of bonding? Some sort of methoid by which you put up some amount of money as proof of your ability to hanndle your liability and responsibilities?

I know that defeats much of the purpose of "insurance" in protecting you from loss, but it would sufice to allow you to work with marinas and haul outs with uninsurable boats, in uninsurable locations. It also means that you would no longer pay a premium. You put the money up for the bond that one time, and as long as you never need it, your good to go.
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Old 11-07-2010, 16:53   #11
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We deal with nearly 4,000 marinas and as others have said not all, but many along the east coast require at least liability for anything other than short transient dockage. The minimum requirement used to be $100,000.00 but most are now requiring $300,000.00 plus spill insurance. To self insure, they would want you to put up the same amount. We also deal with bonding companies and to provide a bond for that amout would cost more than insurance. Some insurance companies will provide a liability only policy, but they are getting harder to find. Seems we have gotten a little side tracked from the original question. We spent over 10 years in Florida and had the boat insured all of that time. Pretty expensive. We were always ask for a hurricane plan, but it was never anything elaborate. We usually stated we would haul the boat, secure it in the slip or find the nearest hurricane hole and anchor, depending on time and weather conditions. That did the trick every time.
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Old 12-07-2010, 09:39   #12
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In US waters, I can cover most boats for $500 a year for $300,000 of liability only insurance through Markel Helmsman. A recent survey is required if the boat is over 10 years old, since they still want to know if your boat is seaworthy and going to cause damage to other vessels or the marina.
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Old 12-07-2010, 09:50   #13
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Quote:
In the event of a named storn, you'll have to actually effect your plan; so don't submit bullroar.
Gord is very correct in this. If you have a claim, they will pull out your plan to make sure you did your best to comply with what you said you would do. Don't expect an insurance company to pay out a claim if you lied. Every document you send them, every e-mail, every call to your agent is part of your official file.

I once asked an insured to complete a written hurricane plan because he was going to leave his boat in south FL and then head north during the hurricane season. The plan he submitted was so unacceptable, that I actually picked up the phone and called him. When he told me that he was not going to remove any canvas, add any extra lines, put out extra fenders or even pay someone to do that if a storm was approaching because that would take too much time and effort, he wanted to be able to just quicly pull out of the slip when he returned to the boat, and "that's what he has insurance for", I was appalled. I thanked him for the information and then asked the underwriter to send out a notice of non-renewal, even though we lost commission as a result.
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Old 12-07-2010, 14:32   #14
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Wow, talking about immediate thread drift.

Mike, I had to submit one a month ago. It was two pages long and covered pretty standard questions like how many and what size lines, if someone local was going to manage it, etc. In addition, I sent a Google Earth picture of the marina with my slip circled and a North direction arrow. One last thing I provided was a link which supported Oyster Pond being recognized as a hurricane hole.

It was accepted. You may still have my e-mail address, we had discussed insurance before. If you want a copy of mine, let me know. David.
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Old 29-03-2012, 13:50   #15
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Re: Pantaenius and Named Storm Plan

Hi Cap. I am putting together a hurricane plan at the moment; would it be possible to take a gander at yours? Cheers Kathleen
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