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Old 11-10-2015, 11:33   #31
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Re: Insurance dilemma

Hi,

After reading your comments re insurance, I feel you may come up with suggestions. Our boat is made in 1984 in a shipyard in Canada, a strong steel and well maintained Caroff design boat (US flagged). However we can't find any insurance company to make an overseas insurance (not even for 3.liability) without a survey. This is funny, cause we see many boats in terrible conditions which had insurance without a survey.
I guess we just cant find the right company.
Btw, we tried Pantenius US, Turkey and Germany, and none agreed! And we need it urgent since we're in Canary Islands getting prepared for ocean crossing soon.
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Old 12-11-2015, 02:13   #32
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Re: Insurance dilemma

hah49, I agree with you when it comes to purchasing insurance. Buying is the easiest part .... claiming is HELL ... 99% of the time. But do we have a choice? What I understand, if someone can correct me, is that if you don't have an insurance on your sail boat some boat slip will not allow you into their dock. You need an insurance first. Worst still, if you sail into a foreign port and an insurance is mandatory by their authority, what happens then?

Has anyone experience this or know of friends who has?
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Old 12-11-2015, 04:34   #33
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Re: Insurance dilemma

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Originally Posted by BANUSCUBA View Post
Hi,

After reading your comments re insurance, I feel you may come up with suggestions. Our boat is made in 1984 in a shipyard in Canada, a strong steel and well maintained Caroff design boat (US flagged). However we can't find any insurance company to make an overseas insurance (not even for 3.liability) without a survey. This is funny, cause we see many boats in terrible conditions which had insurance without a survey.
I guess we just cant find the right company.
Btw, we tried Pantenius US, Turkey and Germany, and none agreed! And we need it urgent since we're in Canary Islands getting prepared for ocean crossing soon.
The survey requirement is because the insuring company is assuming the lions share of the risk for losses (both partial and total). Compound this with the inherent potential dangers of offshore cruising, and you may begin to develop an ideal why there is a survey requirement.

There needs to be surety that the vessel is seaworthy and materially capable of undertaking offshore travel- the survey does this. One may argue that the vessel master is the best arbiter for this; history and actuarial data shows otherwise. A gut feeling does not trump hard data on the material condition of the vessel.

It's expected that the policy will pay should there be a need- having a survey done to assess material condition of the vessel is a small part of the cost of vessel ownership relative to the amount of money the insuring companies pay out for losses.

You can self insure for the value of the hull, and carry liability coverage for the damage you may do to others.
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Old 14-11-2015, 14:15   #34
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Re: Insurance dilemma

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Originally Posted by psiow View Post
hah49, I agree with you when it comes to purchasing insurance. Buying is the easiest part .... claiming is HELL ... 99% of the time. But do we have a choice? What I understand, if someone can correct me, is that if you don't have an insurance on your sail boat some boat slip will not allow you into their dock. You need an insurance first. Worst still, if you sail into a foreign port and an insurance is mandatory by their authority, what happens then?

Has anyone experience this or know of friends who has?
Most places don't ask. If they do want insurance it's liability meaning if you did something then your covered. Say you hit someone elses boat that's what they want coverage for. Most places don't ask. If your boat looks normal and well upkept they don't ask. Have it looking dirty or run down then they ask. It's like cars police target dirty or beater looking cars all the time for insurance. The new looking shiny car blends in. That's how most cops find insurance dodgers. They also look at the person in the car so if your driving a very expensive car and look homeless or like a druggy expect to be pulled over. It's all appearance.
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Old 14-11-2015, 15:15   #35
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Re: Insurance dilemma

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Originally Posted by haha49 View Post
Most places don't ask. If they do want insurance it's liability meaning if you did something then your covered. Say you hit someone elses boat that's what they want coverage for. Most places don't ask. If your boat looks normal and well upkept they don't ask. Have it looking dirty or run down then they ask. It's like cars police target dirty or beater looking cars all the time for insurance. The new looking shiny car blends in. That's how most cops find insurance dodgers. They also look at the person in the car so if your driving a very expensive car and look homeless or like a druggy expect to be pulled over. It's all appearance.
My marina requires that I name them in the policy as a third-party and the insurance company has to send them the form. No form, no slip. Also the policy has to have at least (I think) $500k liability. I think there is now a state requirement for liability which now has to include removal of wrecks and clean up of spills. We have had several derelict boats/ships left at anchor and in marinas where the boat just sank in place. So now everyone pays. Mexico requires liability insurance with a Mexican company. I'm sure it varies country by country, but the marinas in Mexico want to see proof of the insurance. Many boatyards will require proof of insurance to have your boat in their yard too.
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Old 14-11-2015, 16:01   #36
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Re: Insurance dilemma

Marinas in Darwin Australia require 5million AUD, which requires many foreign flagged vessels to up liability insurance.



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Old 14-11-2015, 17:13   #37
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Re: Insurance dilemma

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Marinas in Darwin Australia require 5million AUD, which requires many foreign flagged vessels to up liability insurance.
I've never been in a marina in Australia that didn't require me to show a $5 million or $10 million 3rd party cover note.
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Old 14-11-2015, 23:37   #38
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Re: Insurance dilemma

When arriving into a foreign port, does the local marine authority checks for the boat insurance or the marina are more concern of the insurance?
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Old 15-11-2015, 16:05   #39
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Re: Insurance dilemma

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When arriving into a foreign port, does the local marine authority checks for the boat insurance or the marina are more concern of the insurance?
For most of Australia, it is predominately the marina. However in Queensland all recreational ships more than 15m but less than 35m in length must have an insurance policy that provides A$250,000 for pollution clean up and A$10,000,000 for salvage and wreck removal. Bowsprits and swim platforms are not included in the LOA unlike marinas. This includes visiting yachts.


In SE Asia, the marina is looking for the insurance, but not all of them enforce it. Which is a bugger when you do the right thing and your neighbour doesn't!
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