How Much Is Insurance for a Catamaran ?

[phmadeira]

Hello, how much do you pay to get your catamaran insured ?

[Captain Bill]

I've been quoted from 1 to 2% of the value. I pay about a 10% premium for use below Morehead city but north of South Carolina during hurricane season. This is for coverage on the US east coast including the Bahamas. If I wanted to keep it further south I've been told the premium would double, and perhaps tripple.

[phmadeira]

How people do when they go around the world ?

[barnakiel]

Below 5% in my area, less if the boat is new, less if the owner is the skipper (vs. a charter boat).

b.

[TabbyCat]

Phmadiera,
There are too many variables to just ask how much it costs:
~ Value of Catamaran?
~ Navigation Territory?
~ Your experience?
~ Age of Catamaran?
~ Personal or Charter?
~ Etc
Yes, it could be from just under 1% to 4% of the value of the boat. That's a huge range, when you think about it- over 4 times more for a charter boat in the Caribbean than a private boat in the Chesapeake!

Send me an e-mail or PM if you want a hard figure.

Best Regards,
Susan

[barnakiel]

Originally Posted by phmadeira

How people do when they go around the world ?

Some with, some without.

b.

[TabbyCat]

There are companies that specialize in insuring offshore boats; these companies & policies are different from the local/coastal policies that you may have already contacted.

Yes, you can get a policy with "Worldwide" navigation, but most people don't go around around the world in the 12-month policy period. So you would start off by asking for a quote through an offshore/world cruising insurance company for just the navigation that you will need for the first 12 months.

And you can get full hull coverage, or if you can't afford that, you can get P&I Liability Only coverage.

Best Regards,
Susan