Boat insurance ? Best carriers

[Gboy]

Looking for recommendations

I have a 45 cat, value around 230 k

I am with Pantaenius..

$ 2 k for above 30 deg, $ 4 k below

Anyone got got insurance much less than this ?

Thanks


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[Zven]

Yes. I just collected some offers and decided to go with Admiral, which were less than 1/2 price of Pantaenius for similar cover. That's in the Med anyway.

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[ejjawhite]

Try Ace Marine Insurance.. I've found it to be the best rate, and at least 20-30% less than quotes from Boat US ins.


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[Lizzy Belle]

Read all the small print, don't just look for the lowest rates.

Make sure you know *exactly* what is covered, and what isn't. There can be huge differences hidden in one sentence in small print.

Any carrier is fine, until you need them to pay Which is where comparing exactly what's covered, and for how much, comes into play.

[svHyLyte]

Originally Posted by Gboy

Looking for recommendations

I have a 45 cat, value around 230 k

I am with Pantaenius..

$ 2 k for above 30 deg, $ 4 k below

Anyone got got insurance much less than this ?

Thanks


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If that's an "Agreed Value" policy for less than 1%, it's pretty competitive although more than a few have had difficulty collecting from the carrier. You might want to look into "Seaworthy Marine Insurance" (now known as Geico Marine Insurance) and BoatUS. We switched from Markel to Seaworthy about 4 years ago and have really saved a lot for the same coverage with a company rated as well as Markel by AM Best. BoatUS also is supposed to have very good rates and is known for its reliability.

FWIW...

[Gboy]

Thanks for the feed back... I'll use/try all of it.



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[chuckr]

We have had insurance like you and both companies we have used have been great working with us to keep our insurance down.

We first had Bill Hodgens of Yachtinsure and now have IMIS. Both have been great and while we are in the Med they have been wonderful to work with as we sometimes want to wander off the well travel path.

[leftbrainstuff]

We've had markel for 2 years. No claims so not sure how useful this information is.

Pantanius seem to advertise a lot so i would assume them to be more expensive.

What is needed is a way to compare insurance providers based on season, geographic location, experience, claims and vessel type. Im not aware of anything.

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[hellosailor]

The OP & his boat must be in Georgia, former USSR, as Panaenius doesn't write coverage in the US. They've got associated P-US company that handles the Colonial market.


Not all insurers will cover all flags, or all venues.

[Moody46CC]

For what it is worth, it is very hard to do a flash comparison of insurance coverage and premiums. As noted, the value and quality of vessel itself and its value (agreed or market), exclusions from the risk assumed by the company (you want consequential damage), the experience and credentials of the skipper, area of coverage (e.g., going to cost more in Florida and Caribbean in hurricane season), sailing areas (coastal, offshore), permission to go to other countries, seasonal lay-up, tender coverage, personnel effects coverage, liability and indemnity, pollution; salvage, and other factors play into premiums. Willingness to accept a high deductible lessens risk for the insurer and lowers premiums.

Marine insurance is competitive. Get the names of companies from friends and even forums like this, but then get out a spread sheet and contact the companies and get a detailed quote. Only then will you really know.

[svHyLyte]

Originally Posted by hellosailor

The OP & his boat must be in Georgia, former USSR, as Panaenius doesn't write coverage in the US. They've got associated P-US company that handles the Colonial market.


Not all insurers will cover all flags, or all venues.

Ah... Well... Since in another recent post he's looking for local information about conditions for a traverse through Pass-a-Grill Inlet to Tampa Bay, I don't think he's in Europe...

[Zven]

I have noticed that plenty of Americans seem blissfully unaware that there is a big world outside of the US ... Hence...
When someone does not state where in the world they are, it is often safe to assume they are in the US.

[Gboy]

Thanks all for the feedback...just moved from Savannah to Tampa, actually I'm English, but been here for over 30 years now.
But larger boat ownership is quite new.
Seeing on the internet many boat insurance possibilities so getting input.
Naturally moving from Savannah to Tampa during the tropical season will increase my insurance, but was surprised by double ? Realize can be catastrophic but chances are still 1000's to 1.
So if I stay here with the boat I'll wondered if there are better policies.

As always appreciate the feedback it helps a lot when doing something or going somewhere for the first time.

Are most insurance companies allowing Cuba now ?

Thanks


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