Insurance For Caribbean Cruising

[lifeofreilly57]

Greetings
I am in the process of seeking insurance for cruising the Caribbean. My current insurance company has given me the endorsement for the Bahamas but will not insure me for sailing in the Caribbean, so I have to find another.
Even though I've sailed for 35 years, never had a claim and the worst I've done is have to wait for the tide to come up to get off a sandbar their reason is that I haven't sailed in the Caribbean, although my wife and I have bareboated in the BVI.
We are currently heading to the Bahamas, then into the Carribean from there, we'll sit out the hurricane season in Grenada most likely, so we don't plan to stay there during hurricane season.
Anyone run into this issue before?
I'm in the process of filling out the 3000 forms the insurance companies want just to even think about it.
Any suggestions for insurance companies/brokers who you've had good experiences with?
I'd like to get this set before shipping out, we're currently in Florida waiting for a weather window.

[letsgetsailing3]

May help to know the type of insurance you're looking for. Are you looking for liability, or comprehensive?


Comprehensive is a lot harder to get.

[lifeofreilly57]

Comprehensive.
Which is also why we plan to get out of the hurricane zone during the season.

[chuckr]

Not sure you have now but we have had great success with IMIS and before them Bill Hodgens of Yachtinsure.

[Otia]

Check out offshorerisk, out of Miami, its a broker, very efficient.
I trick: when you start with an insurer, they typically cover you for up to 200 nm from shore. Try to debate this for farther, you'll easily get 250 nm. Then the following year you ask for 350, you'll get at least 300. Then the following year ask for 400 nm, and so forth. After you stick a few years with the same insurer you'll get far. I was able to do 300, 400, 500 in 3 years.

[AiniA]

We were pleased with IMIS but never had a claim so can't comment on that part. They were easy to deal with.

[ocean.jedi]

Use a broker. Ocean Jedi uses Bill Coates at offshore risk management and is very satisfied.

William Coates <wjc@offshorerisk.com>

http://www.offshorerisk.com/
305 743 7711 USA
800 773 0105 Toll free US, Canada and US Territories
284 494 8925 Caribbean
661 310 3612 Pacific
+44 (0) 203 371 9167 UK
408 228 8937 Fax
760 875 9772 Fax alternate

[Otia]

Originally Posted by ocean.jedi

Use a broker. Ocean Jedi uses Bill Coates at offshore risk management and is very satisfied.

Yeap, Bill or Susan. This was my recommendation as well.
I had a lot of difficulty insuring after Irma. Susan nailed it in 1 week.

[a64pilot]

We are in the Bahamas and have been told by our Broker to not worry about it, just call before you go and we will find you coverage.

Well they did, 300% increase in premium and a $500 deductible went to $9,000 except for named and numbered storms, then it was $18,000, and a requirement for an out of water survey.
I had an in water just done 90 days ago, but now need an out of water.

We thought about it, and the near impossibility of getting an out of water survey done here, and decided to try again next year.

So if you find a decent price, I’d like to hear about it, cause it is what stopped our plans on Grenada this year.

[FecklessDolphin]

I have had good rates with Geico and they took great care of me after my boat went through Irma while on the hard at Nanny Cay

[sailcrazy]

We "summer over" on the hard at Puerto Del Rey in Puerto Rico. We've been there the past 5 summers, and rode thru Irma and Maria there....without damage. But this year our insurance would only write coverage that excluded named storm damage, After a long search, and many forms, we did find a policy....but the premium was nearly 200% above last years-I declined,bought the excluded policy, and waited for the dust to settle. I just cnx it and bought a new policy that included named storm coverage.....for a premium very near to last years premium. Since we've not had a claim, I have no clue on well /responsive they may be if we do get hammered, but I've got the policy I needed. They are out there. Check with Blue Water Ins, Jupiter, Fla.

[Dr. Sea]

I have comprehensive insurance with Pantaenius. It's not cheap but they are very good to work with. When my boat is in the USA, about 6 months per year, I get their best rate. When I go offshore (beyond 150 miles) I tell them to change my coverage area--price goes up a lot--and then I change it back when I return to the USA. My 2% deductible goes up to 10% for a named storm during hurricane season in the hurricane zone (FL/GA line to Trinidad). Different insurance companies define the hurricane season and the hurricane zone differently.

[sailorboy1]

Originally Posted by a64pilot

Well they did, 300% increase in premium and a $500 deductible went to $9,000 except for named and numbered storms, then it was $18,000, and a requirement for an out of water survey.

I got a similar quote a couple of years ago, 250% increase and required a new survey and rigging inspection and this was from the company I already had coverage with.