Yacht Insurance in Victoria, BC

[Jd1]

I didn't want to hijack the other thread on yacht insurance ... so here is my own

I am cautiously optimistic about closing on a Catalina 36 (pending survey and sea trial) and it is time to start lining up my ducks in some semblance of a row. This is my first boat. I am looking for coverage for the Pacific Northwest. At this point I am not sure if I want full coverage or just basic liability.
Is there anyone available in Victoria that takes kindly to insuring new sailors ?
If not Victoria, is there coverage available from an agent in the Vancouver area ?
Does it really matter all that much where an agent is located ?
I could ask my home insurance agent if they would write a liability add-on for the boat but is that a good idea ? .... or should one go with someone specializing in boat insurance ?

Thoughts ?

Thanks in advance !

[Elysium]

Hi, your 36 will be too big to fall under home insurance, however my home (and boat) plans are with megson Fitzpatrick, who I think go through Sun Alliance for the boat. They have been Awesome!!!!!
When I switched from Marina to mooring ball this past spring they didn't even up my rates.
I went through a bit of documentation for them first though. Other providers (like BCYacht Insurance) were outright rude on the phone when I asked about coverage for moorings.

I think the only qualifications Sun wanted me to have were the registration numbers added ( we argued a bit in this one as it wasn't legally required for my size boat) and to have had a recent out-of-water survey done. I think it is about a 5 year survey cycle...

[Elysium]

Awesome boat by the way!!!!

[JimJohnston]

Hi JD

I've used Robertson and Robertson in Toronto for years in the Great Lakes and more recently in the Bahamas, SE Caribbean and the USA. They specialize in Yacht insurance. Our boat is a Caliber 40 so they are good with bigger boats too.

Jim

[Jd1]

Ok, so I inquired with my home insurance agent and, no surprise, I can't cover the boat under the house insurance. The agent suggested an insurance company called AXA Pacific .... anybody heard of them ?
It appears I can't just buy liability insurance but a full package was surprisingly reasonable at around $650 estimated per year. This would cover the area of Pudget Sound, all the islands here and up to about Alaska someplace. I am still waiting for clarification if it covers the outside/Pacific side of Vancouver Island or Queen Charlottes.
The part that I didn't like was the fact that this coverage is as far as this insurance company goes. Anything outside that area is covered on a trip by trip basis (if at all). This isn't an issue at the moment but what happens if I have a hankering to go to Hawaiii (forget the fact that we are talking open ocean in a Catalina 36).
I would be interested to hear what people think about AXA and about limiting the coverage area (and anything else)

Thanks !

[Elysium]

I have heard of AXA, but no personal experience regarding them, sorry.

Attached is a picture of the sailing limits that SunAlliance gives me. It is the white 'offshore' line. Going to Hawaii is a different story as you mention....but like you...I am going to cross that bridge later. I think building a history with a company does count for something.

[Elysium]

Oh, and my annual on a 27' boat is about $400...

[christopher]

[/lurk]

Hi Jd1

I had a liveaboard policy with AXA when I was on the central coast and never had any issues with them but I also never had to make a claim with them either (imo, receiving a claim is when a company reveals their true customer service colours). AXA wanted the usual survey and proof of competency.

Megson has a good rep and I was recently quoted $950 (subject to survey and proof of competency) for Victoria-based liveaboard (with coastal BC coverage) on a late 1970's 37' ketch.

Liveaboard status is what drives the premium up because "everyone" knows that actually being on your boat full time makes it less safe *facepalm*

~ C


[lurk]

[Jd1]

Originally Posted by christopher

[/lurk]
Liveaboard status is what drives the premium up because "everyone" knows that actually being on your boat full time makes it less safe *facepalm*
[lurk]

<chuckle> Yes, I got the liveaboard question as well .... I assume that the issue is a higher risk of fire damage from cooking or smoking or similar. Since insurance is driven strictly by numbers, I would imagine they could easily prove the higher risk with historic data.

[christopher]

as a final thought, Megson did say that the premium cost was reduced if you had some specific safety investments, such as a high-water bilge alarm and power squadron-type courses

hope the boat purchase goes well!

~ c