Cruisers Forum Insurance ?

[Captn_Black]

Originally Posted by Mike OReilly

That sounds great. Can you share the broker and underwriter so folks in similar circumstances can follow your lead.

Bluefin, Lloyd Syndicates.

[Hunterdog]

Looking for recommendations for insurance for my Beneteau 50. USA flag, cruising the Mediterranean.
Thanks!

[kaa2021]

Hi all,

I'd actually be willing to put in the work to launch the co-op thing. Founded one company, consulted for several insurers (albeit health), spent time as an executive at several backed start-ups, and now running my own consulting firm. I'm pretty new around here but love sailing.

Would anyone be interested?

[goeasy123]

Originally Posted by kaa2021

Hi all,

I'd actually be willing to put in the work to launch the co-op thing. Founded one company, consulted for several insurers (albeit health), spent time as an executive at several backed start-ups, and now running my own consulting firm. I'm pretty new around here but love sailing.

Would anyone be interested?

Count me in. What next?

[captlloyd]

Originally Posted by kaa2021

Hi all,

I'd actually be willing to put in the work to launch the co-op thing. Founded one company, consulted for several insurers (albeit health), spent time as an executive at several backed start-ups, and now running my own consulting firm. I'm pretty new around here but love sailing.

Would anyone be interested?

As the original OP I am not sure what you mean by interested ? I am sure there would be a lot of folks interested in purchasing insurance, especially liability only. After conferring with one individual a lot of my misconceptions were alleviated, I think it is possible. Insurance concerns and issues are a common thread on this forum. Feel free to pm me if you like.

[kaa2021]

Hey there OP! I mean launching a co-op for insurance. I do a lot of that in health (direct primary care).

[captlloyd]

Originally Posted by kaa2021

Hey there OP! I mean launching a co-op for insurance. I do a lot of that in health (direct primary care).

Yes I would be interested in joining a co-op, at my age not interested in the work involved in founding one. However if I could help in anyway let me know.

[goeasy123]

Originally Posted by captlloyd

As the original OP I am not sure what you mean by interested ? I am sure there would be a lot of folks interested in purchasing insurance, especially liability only. After conferring with one individual a lot of my misconceptions were alleviated, I think it is possible. Insurance concerns and issues are a common thread on this forum. Feel free to pm me if you like.

I think I might have been the 'one individual'. I'm in Europe and I've either contributed to or started threads on other forum on the subject. I have a background in trading and risk.



I notice a lot of negativity and lack of understanding about how the insurance business works.


Consequently, I suggest a 'build it and they will come' approach. I'm happy to help.

[captlloyd]

Originally Posted by goeasy123

I think I might have been the 'one individual'. I'm in Europe and I've either contributed to or started threads on other forum on the subject. I have a background in trading and risk.



I notice a lot of negativity and lack of understanding about how the insurance business works.


Consequently, I suggest a 'build it and they will come' approach. I'm happy to help.

Yes you are the one, You did enlighten me on some of the basics. I would suggest the individual interested in starting this undertaking contact you to pick your mind and share knowledge. I think the advantage here would be building a co-op from a cruisers point of view rather than a Corporate point of view. As I previously stated, the co-op would seem to be a perfect fit for an individual looking for an internet type of business to conduct while living aboard or
cruising.

[Americanrancher]

Hi Folks I am sailing from US West coast to French Polynesia in March. I would like insurance however I have gotten only one crazy high quote from a US broker all other brokers can’t quote. Any suggestions? Any brokers in the S Pacific that specialize in covering cruisers in the region? Thanks Ben S/V DAWN

[Pete the Cat]

Originally Posted by Americanrancher

Hi Folks I am sailing from US West coast to French Polynesia in March. I would like insurance however I have gotten only one crazy high quote from a US broker all other brokers can’t quote. Any suggestions? Any brokers in the S Pacific that specialize in covering cruisers in the region? Thanks Ben S/V DAWN

I bought crazy expensive insurance for a trip from San Francisco to Maine. I would not do it again. You need to show insurance in some countries (Mexico you have to have a Mexican policy) and marinas. But they are most interested in liability--which is cheap. If I was doing it again, I would buy liability only and what was necessary for the countries I visited. I guess some of it depends on the price of your boat and how much you can afford to lose. But, if you think about it, insuring a boat in foreign ports is a real risk crap shoot for the insurance companies. Not enough folks to spread the risk and a lot of unknowns about what risks are of a particular skipper, boat and repair locale.

Ray Durkee

[robertmfranklin]

What do you need insurance for?

[captlloyd]

Originally Posted by robertmfranklin

What do you need insurance for?

Everyone sooner or later needs to get into a marina or spend some time in a boatyard, insurance is a requirement.

[Mike OReilly]

Originally Posted by captlloyd

Everyone sooner or later needs to get into a marina or spend some time in a boatyard, insurance is a requirement.

In my travels, through the Great Lakes, out the St. Lawrence, to Newfoundland, I have never been asked about insurance for any transient dockage at a marina. The only time I've had to show proof of insurance is for long-term (6 months) haulouts and winter storage.

But I have read about such demands, mostly from southern US east coast locations like Florida. So it does seem to be a thing, but might be fairly localized.

[captlloyd]

Originally Posted by Mike OReilly

In my travels, through the Great Lakes, out the St. Lawrence, to Newfoundland, I have never been asked about insurance for any transient dockage at a marina. The only time I've had to show proof of insurance is for long-term (6 months) haulouts and winter storage.

But I have read about such demands, mostly from southern US east coast locations like Florida. So it does seem to be a thing, but might be fairly localized.

Valid point. A day or even a few days stay most likely is not going to raise an insurance requirement. But sooner or later they are going to require something. There could be a multitude of reasons why a cruiser might need to lay up for an extended period of time. Both for personal reasons and/or boat reasons.