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Old 16-09-2015, 10:40   #1
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New to Boating Insurance

I'm purchasing our first "new-to-me" boat; a 2012, 45' aluminum hulled, lifting centerboard bad built in France. My issue is getting insurance for the boat. I placed a call to Boat US and they refused to cover me based on my lack of boating experience. Does anyone have any thoughts on this?

This is my first boat, and I understand that it's a rather large boat. Because of that, I've completed all of the ASA courses up through 105, as well as 118 (Docking Endorsement). I've spent a week sailing and sea-trailing the exact boat that I want to purchase. I've completed a Maritime Diesel Engine Course as well as a Maritime Electrical Course. I'm a retired military officer with about five years of small boat (<20') experience in the military. I'm an active Paramedic. I'm planning on taking Offshore Passagemaking with ASA (108) or possibly going out with John Kretschmer on a cruise if he can find room, as well as an SAS course. The boat will be sailed in the Great Lakes for only 8-months per year.

I've invested a ton of time/effort/money into my sailing education. What else do I need to do to qualify for insurance? Maybe Boat US isn't my best choice?
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Old 16-09-2015, 13:05   #2
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Re: New to Boating Insurance

I recommend using Seaworthy insurance either directly or through Geico.
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Old 16-09-2015, 13:29   #3
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Re: New to Boating Insurance

You can certainly call around to different insurance companies, but I think you are going to find they are all going to be leery about insuring someone with minimal experience on a large expensive boat. What I would suggest is asking them directly what they want you to do, first to be willing to wright coverage at all, and then to drop coverage rates.

Most likely they will want some amount of time with a captain on board to provide professional guidance. I have acted in this capacity in the past, and it normally isn't a whole lot of time. A few weeks at the most to do a check out test, confirm your understanding of navigation and pilotage, even cover systems usage, ect. While a lot of people can make suggestions, you really need to hear if from the insurance companies.
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Old 19-09-2015, 17:10   #4
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Re: New to Boating Insurance

If you're boating the US and Canada, try https://www.hagerty.com

They do big old boats and many local brokers use them, but you can buy direct.

Get your boaters card. It wouldn't hurt to have some marine classes under your belt.
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Old 20-09-2015, 00:03   #5
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Re: New to Boating Insurance

Hi Enjaku,
Interested to see how you go with getting insurance as i will be in the same boat (so to speak)
Love to know what boat you chose
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Old 29-09-2015, 15:43   #6
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Re: New to Boating Insurance

Today was "Insurance Day". I got several quotes from companies, and they all were $3,000/yr or less, which I felt was reasonable. All want a Skipper Endorsement, which again is reasonable. The decision is in the details now.
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Old 29-09-2015, 17:27   #7
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Re: New to Boating Insurance

Did you explore the possibility of liability only insurance? Did they have different requirements depending on coverage amount? I will face this issue as well and it may affect what boats I consider.

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Old 29-09-2015, 18:35   #8
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Re: New to Boating Insurance

Quote:
Originally Posted by enjaku View Post
Today was "Insurance Day". I got several quotes from companies, and they all were $3,000/yr or less, which I felt was reasonable. All want a Skipper Endorsement, which again is reasonable. The decision is in the details now.
What are they calling a Skipper Endorsement?
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Old 29-09-2015, 20:00   #9
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Re: New to Boating Insurance

Expect around 1% of the agreed value ($5k for a $500k boat), less as you get more certified experience - but not by a lot.


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