Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 08-11-2015, 07:12   #1
Registered User

Join Date: Oct 2010
Location: Oregon
Boat: 57' Laurent Giles Yawl
Posts: 755
Insuring with a BVI Flag?

I am thinking of flagging my next boat in the BVI.

Do you folks have experience getting insurance for a vessel flagged in the BVI?

Do insurers who cover British vessels generally extend coverage to a BVI flagged vessel? Would it matter if the owners are US citizens?

Are the rates different because of the flag?

Part of my reason for going with this flag is that I feel I've been excluded from some insurance options because of my current boats US flag. There's only one insurer who will give me third party only coverage for the Caribbean, and none that I've found who will cover the South Pacific. I've talked to British insurers who would happily sell me coverage like that, if I didn't have a US flag.
__________________
our blog
msponer is offline   Reply With Quote
Old 08-11-2015, 15:36   #2
Registered User

Join Date: Nov 2014
Posts: 1
Re: Insuring with a BVI Flag?

When we bought our boat, we formed a BVI holding company, registered the boat there, avoided FL sales taxes, and we use Offshore Risk Management for insurance, I think they have an office in Road Town. The boat has been there for three seasons with no problems.


Sent from my iPad using Cruisers Sailing Forum
__________________
FilledeJoie is offline   Reply With Quote
Old 14-12-2015, 00:31   #3
Registered User

Join Date: Dec 2015
Posts: 2
Re: Insuring with a BVI Flag?

BVI registered vessels benefit from all of the privileges of the British flag, while at the same time having the tax free and confidentiality perks of the BVIs.

This article talks more about insurance, specifically.
Quote:
Originally Posted by msponer View Post
I am thinking of flagging my next boat in the BVI.

Do you folks have experience getting insurance for a vessel flagged in the BVI?

Do insurers who cover British vessels generally extend coverage to a BVI flagged vessel? Would it matter if the owners are US citizens?

Are the rates different because of the flag?

Part of my reason for going with this flag is that I feel I've been excluded from some insurance options because of my current boats US flag. There's only one insurer who will give me third party only coverage for the Caribbean, and none that I've found who will cover the South Pacific. I've talked to British insurers who would happily sell me coverage like that, if I didn't have a US flag.
__________________
nl2234 is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Canadian flag or change to British flag on buying boat drcot3 Dollars & Cents 5 26-02-2015 12:09
Aussie Flag or US Flag on Vessel ? AllezCat Rules of the Road, Regulations & Red Tape 48 25-05-2011 06:14
Insuring a Boat on a Mooring twistedtree Dollars & Cents 6 09-10-2010 10:13
suggestion for financing/insuring a mid 70's yacht tthouses Monohull Sailboats 1 21-01-2008 23:14
Insuring and on older boat dbillingsly Boat Ownership & Making a Living 15 13-01-2008 18:30



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 11:27.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.