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Canibul · 14-05-2014, 06:52

As we tidy up life on the dirt in prep for life on the clear turquoise the subject of liability insurance has come up. I contacted the insurance company that handles our RV in the US and was told I can't get an umbrella liability policy unless it's part of their homeowner package and we'd have to be US residents.

Thought I would ask if any other expat cruisers who are not US residents have found a way to get blanket or umbrella liability?

lorenzo b · 14-05-2014, 08:22

I've heard the same complaint from others. Insurance companies don't like to insure international customers, too expensive to deal with all the various laws and languages. You may want to talk to a financial advisor on asset protection strategies and keep your boat well insured. Keep in mind that the more insurance you have, the fatter the target you make.

cwyckham · 14-05-2014, 08:53

First, I would never leave home without insuring my umbrella to the fullest. I don't care who you are, those things are dangerous and tend to turn inside out in even moderate winds. Don't leave until you've sorted out your umbrella insurance.

Sorry, I couldn't resist.

Seriously, though, you live in probably the only country in the world where people worry about having full third party liability insurance. I assume you mean "non boat related" third party liability. The US is the only place where you might need or want that. In the rest of the world, having third party insurance on your boat policy for when you drag down on somebody in a squall is all you are likely to need.

If you're at the market and knock a banana stand over on somebody's head they aren't going to sue you. Even if they try, the local judge will only charge you for medical bills which will be on the order of $100. No million dollar pain and suffering law suits for banana trauma outside the USA.

colemj · 14-05-2014, 12:05

Canibul lives in the Turks and Caico's - not the US. He meant "ex-pat" to mean "ex-US", which he should be chastised for because this is not a US-only forum and he offended the hundreds of thousands of T&C ex-pats around the world…

Mark

Canibul · 15-05-2014, 05:15

actually I meant ex-pat to mean people who no longer live in the country of their citizenship. Which is what expatriate means.

Living abroad.

BandB · 15-05-2014, 07:50

We're not expats but still have found that if you're one who moves around a bit you have the same issues, so we preferred a more worldwide type insurer for our umbrella, one who also specializes in surplus lines and excess insurance. We have ours with Lloyd's.

As you move or travel more then international solutions become necessary. Our boat insurance likewise isn't with a traditional US insurer.

Our rule of thumb. If it's something tied to land in a country, such as a house, car, or RV then best to insure it in that country. If it's a boat or you, something that moves to other countries, best to find an international insurer.

cwyckham · 15-05-2014, 09:28

Quote:

Originally Posted by Canibul

actually I meant ex-pat to mean people who no longer live in the country of their citizenship. Which is what expatriate means.

Living abroad.

Now that I've reread your post with the knowledge that you are non-US but have a US RV, it makes more sense.

I would echo that US insurance companies wouldn't be my first choice for an international lifestyle. It is a unique litigious society and I'm sure that affects the insurance business

colemj · 15-05-2014, 09:31

Quote:

Originally Posted by Canibul

actually I meant ex-pat to mean people who no longer live in the country of their citizenship. Which is what expatriate means.

Living abroad.

I forgot to put a smiley on my post, but I thought the phrase "hundreds of thousands of T&C ex-pats" would let people know I was joking.

Mark

Canibul · 15-05-2014, 09:55

Hundreds of thousands? Ha. I missed that, sorry. If the entire nation packed up and left it would be something like 30,000 people. Less total people in this little nation than in the small town I lived in on Cape Cod in a previous life.

not many Americans living down here, either. A few hundred. Very much a minority of a minority.

Geoff54 · 15-05-2014, 11:39

Quote:

Originally Posted by BandB

We're not expats but still have found that if you're one who moves around a bit you have the same issues, so we preferred a more worldwide type insurer for our umbrella, one who also specializes in surplus lines and excess insurance. We have ours with Lloyd's.

If you don't mind me asking, which Lloyd's broker do you use?
Thanks!

BandB · 15-05-2014, 12:52

Quote:

Originally Posted by Geoff54

If you don't mind me asking, which Lloyd's broker do you use?
Thanks!

Lloyd's, as a surplus company, works through wholesalers. Agents then work through those wholesalers. Most agents have a relationship with one or more of these wholesalers. Ours is actually through Mavon, but there is a list of surplus wholesalers available on Lloyd's site. We work through a risk advisor rather than a traditional insurance broker so really can't help you there.

Geoff54 · 15-05-2014, 13:22

Quote:

Originally Posted by BandB

Lloyd's, as a surplus company, works through wholesalers. Agents then work through those wholesalers. Most agents have a relationship with one or more of these wholesalers. Ours is actually through Mavon, but there is a list of surplus wholesalers available on Lloyd's site. We work through a risk advisor rather than a traditional insurance broker so really can't help you there.

Sorry, my mistake. I assumed that you used a LLoyd's broker in the U.K. rather than through a U.S. surplus line.

I am a UK citizen, US resident and we have an umbrella with a US company, mainly because my other half has a relatively high risk of being sued. But that might be an issue when we go cruising full time (if I could just get her to stop working, we'd be set), hence my interest.

In a previous lifetime, in a country far far away, I worked for several Lloyd's brokers and syndicates. I was a techie and not directly involved in the market, but reading the marine and aviation claims files was eye opening :-)

Thanks for the information.

BandB · 15-05-2014, 14:54

Quote:

Originally Posted by Geoff54

Sorry, my mistake. I assumed that you used a LLoyd's broker in the U.K. rather than through a U.S. surplus line.

I am a UK citizen, US resident and we have an umbrella with a US company, mainly because my other half has a relatively high risk of being sued. But that might be an issue when we go cruising full time (if I could just get her to stop working, we'd be set), hence my interest.

In a previous lifetime, in a country far far away, I worked for several Lloyd's brokers and syndicates. I was a techie and not directly involved in the market, but reading the marine and aviation claims files was eye opening :-)

Thanks for the information.

That's ok. We looked at going through a UK broker. Lloyd's has to be the strangest set up of any company. Some states licensed, some surplus. Some insurances licensed, others surplus. 37% of their business is in the US. Besso Group from the UK does have presence in Fort Lauderdale, but we didn't go that route. One reason we went surplus lines route is they also insured our house.