Insurance wanted for IIa-cat boat for Canaries/Azores

[Navis Optata]

Hi,
we sail a Wauquiez Centurion 49, A-class boat, registered under Croatian flag.

The shipping Registry in Croatia put for some reason IIa category in reg papers (adriatics, 12 nm from the shore). Now the boat is on Canaries, so i am looking for an insurance company that can offer me the atlantic coverage with my adriatic category in papers.

Pantaenius offered 3,500 euros for a year, that seems ridiculous.

Thank you for an advice,

Alex

[monte]

€3500/year would be about right on a €180,000 hull policy for Atlantic and Caribbean . You could try topsail as well.

[boatman61]

Or... you could look at it the way I do..
Full cover upto 200nm from land then it switches to Liability till I enter the 200nm limit again...
Most accidents/sinking's happen less than 50nm from land.. why have full cover for a 00.05% chance..
Its a common problem for us Service Providers... you want all the bells and whistle's yet scream when the time come's to pay ..

[Navis Optata]

Ok, which company you use for insurance then? Can be a nice option, even 100 nm is good enough.

[boatman61]

Panteanius.. been using them since 1996.. at present with this boat I'm W Europe and Med only.. but covers a sail to Azore's under those conditions.
A lot depends on previous experience in and out of home waters.. and any prior insurance history..
They got taken on a few rides in the later part of the last century by cruisers and have tightened things up a lot from the 60's,70's,80's cruising days...

[YARGESOL]

I may send you(if you are intersted) a link to Alianz embarcaciones - Spanish division for Alianz
(When I was preparing for Atlantic cross, Pantaenius quoted me more than $5000. I've got much better quote (less than twice from Alianz broker at Bilbao). Hulll 250K euros and liability 2 mio+. Worldwide navigation limited clause Ice,Ware,Tropical etc...
Not sure about 2A , but maybe you may show the original warf docs?

[Navis Optata]

Thanks!
Would be nice to try.

I contacted croatian Allianz, but the guy said i need to upgrade the category. And i can do it only in Croatia (I have Croatian flag).

[rockDAWG]

Originally Posted by boatman61

Or... you could look at it the way I do..
Full cover upto 200nm from land then it switches to Liability till I enter the 200nm limit again...
Most accidents/sinking's happen less than 50nm from land.. why have full cover for a 00.05% chance..
Its a common problem for us Service Providers... you want all the bells and whistle's yet scream when the time come's to pay ..

Wise !!!

[YARGESOL]

try this guy
Ibon Orcasitas
Brokmar Correduría de Seguros
Brokmar Marine Insurance Broker
C/ Colón de Larreategui 26, 3º A · 48009 Bilbao
T +34 944 356 780 – F +34 944 356 781
wwwdotbrokmardotcom
I have flag Dominica - no problem

[YARGESOL]

you ar in Spanish waters now

[Polux]

Originally Posted by Navis Optata

Ok, which company you use for insurance then? Can be a nice option, even 100 nm is good enough.

If you say to Paentaenius that you don't want Atlantic coverage but only 100nm insurance the price will be probably different.

[Polux]

Originally Posted by monte

€3500/year would be about right on a €180,000 hull policy for Atlantic and Caribbean . You could try topsail as well.

Sometimes it is not only the value of the boat but also the age. At least with Paentaenius it was like that some years ago.

I had a friend that paid a lot more insurance than me with a boat with a lesser value, bigger than mine, and I tell him to try Paentaenius. He did and in the end the price of the insurance was a lot more than mine and about the same the one he had.

The difference that counted for that increased price was that my boat was 2 or 3 years old and his was 25 years old.

[Navis Optata]

Thanks guys, at least couple of way outs i have now. Will try both. But if any broker present here i am open to suggestions as well.

[Navis Optata]

Originally Posted by Polux

Sometimes it is not only the value of the boat but also the age. At least with Paentaenius it was like that some years ago.

I had a friend that paid a lot more insurance than me with a boat with a lesser value, bigger than mine, and I tell him to try Paentaenius. He did and in the end the price of the insurance was a lot more than mine and about the same the one he had.

The difference that counted for that increased price was that my boat was 2 or 3 years old and his was 25 years old.

Understandable. They believe that the older boat has more chances for failure and total loss (but i hardly believe that a 5yo modern charter cruiser is less vulnerable to high seas than 25-yo HR or swan).

But the idea is clear. Thanks