Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 29-11-2016, 14:59   #16
Registered User

Join Date: May 2015
Location: Connecticut
Boat: Beneteau 461 46 feet
Posts: 37
Re: Insurance advice for a newbie

We have used NBOA now for 2 or 3 years. They have been fantastic and are one half the cost of our previous company. We were struck by lightning last summer which wiped out all electronics and the solar panel and controller. When the boat was built it had state of the art electronics. They replaced everything with 2016 state of the art electronics, they did not prorate it.

This last spring a boat dragged anchor into us in Green Turtle Bahamas. They also had NBOA and our boat was repaired as soon as we returned to CT. Again no questions asked.

I can't say enough good things about NBOA.
__________________

Glen Ballou is offline   Reply With Quote
Old 07-12-2016, 18:08   #17
Registered User
 
maplemale's Avatar

Join Date: Sep 2016
Location: Yaquina Bay, Oregon
Boat: In the market for the time being!
Posts: 86
Re: Insurance advice for a newbie

Quote:
Originally Posted by Smokeys Kitchen View Post
Our broker, Rich Haynie, has treated us very well over the years.

Rich Haynie Insurance Specializing in Yacht Insurance - Seattle, WA

Started with this post (thank you for reference!) and immediately ran into a new roadblock... is this typical?


Rich Haynie is a broker and works with lots of providers. But, claims they often (and the preferred provider most definitely) will require NAMS/SAMS certified surveyors and it's a hard requirement. Also, that I shouldn't use a surveyor who isn't NAMS/SAMS. Ok, fine but here's the issue:


I live in a fishing town with thousands of boats, commercial and otherwise. The surveyors here are all very busy doing surveys for banks and insurance companies. Not a single one of them is NAMS/SAMS. The nearest one that is, wants well over $1,000 to travel here - not including survey cost.


The local surveyors I've called thus far seemed to indicate NAMS/SAMS isn't typical and they aren't remotely interested in ever being NAMS/SAMS.
__________________

maplemale is offline   Reply With Quote
Old 07-12-2016, 18:38   #18
Registered User

Join Date: Jul 2005
Location: Bellingham
Boat: Outbound 44
Posts: 8,248
Re: Insurance advice for a newbie

Quote:
Originally Posted by maplemale View Post
Started with this post (thank you for reference!) and immediately ran into a new roadblock... is this typical?


Rich Haynie is a broker and works with lots of providers. But, claims they often (and the preferred provider most definitely) will require NAMS/SAMS certified surveyors and it's a hard requirement. Also, that I shouldn't use a surveyor who isn't NAMS/SAMS. Ok, fine but there's the issue:


I live in a fishing town with thousands of boats, commercial and otherwise. The surveyors here are all very busy doing surveys for banks and insurance companies. Not a single one of them is NAMS/SAMS. The nearest one that is, wants well over $1,000 to travel here - not including survey cost.


The local surveyors I've called thus far seemed to indicate NAMS/SAMS isn't typical and they aren't remotely interested in ever being NAMS/SAMS.
Do the local surveyors have any certification or education documentaion? It's hard to get an insurance company to except a surveyor as competant if they don't provide something beyond 'all the locals use me and I've been doing this for a long time'. Just a fact of life that the underwriter has to rely on a third party.
Paul L is offline   Reply With Quote
Old 07-12-2016, 18:52   #19
Registered User
 
maplemale's Avatar

Join Date: Sep 2016
Location: Yaquina Bay, Oregon
Boat: In the market for the time being!
Posts: 86
Re: Insurance advice for a newbie

Quote:
Originally Posted by Paul L View Post
Do the local surveyors have any certification or education documentaion? It's hard to get an insurance company to except a surveyor as competant if they don't provide something beyond 'all the locals use me and I've been doing this for a long time'. Just a fact of life that the underwriter has to rely on a third party.

I'm assuming so. First local surveyor I spoke with mentioned several maritime schools and her 36 years as a commercial skipper. But, I didn't take too much note of her credentials at the time.


The second one I talked to today just kept mentioning his company name (Associated Marine Surveying Co) and then the various marine financial institutions in OR that work with his company. Seemed like he was talking more commercial stuff. Then went onto mention he's busy working on a 4.6 million dollar commercial survey until next week. But, does the smaller sailboat and trawlers on occasion.


There are only a handful of surveyors within an hour or two. Could only make contact with those two and receptionist of a 3rd so far. But, I know none are SAMS/NAMS cause there's a list online --- all Portland.

Membership Roster for Oregon
maplemale is offline   Reply With Quote
Old 07-12-2016, 19:48   #20
Registered User
 
Davidhoy's Avatar

Join Date: Jul 2016
Location: Palm Beach Gardens, FL
Boat: Catalina 470
Posts: 989
Re: Insurance advice for a newbie

One thing to add into the mix, fortunately a very cheap one. Please invest the $130 or so to get towing insurance through TowBoatUS or SeaTow. Trust me on this, it's well worth it - a single tow, whether it be due to engine problems or a soft grounding, and you'll more than recoup the money you spent. It's so nice to be presented a bill for over $1000 with zero out of pocket, all you have to do is sign your name...

Regards,
David
__________________
Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain
Davidhoy is online now   Reply With Quote
Old 07-12-2016, 20:33   #21
Registered User

Join Date: Jul 2005
Location: Bellingham
Boat: Outbound 44
Posts: 8,248
Re: Insurance advice for a newbie

Quote:
Originally Posted by maplemale View Post
I'm assuming so. First local surveyor I spoke with mentioned several maritime schools and her 36 years as a commercial skipper. But, I didn't take too much note of her credentials at the time.


The second one I talked to today just kept mentioning his company name (Associated Marine Surveying Co) and then the various marine financial institutions in OR that work with his company. Seemed like he was talking more commercial stuff. Then went onto mention he's busy working on a 4.6 million dollar commercial survey until next week. But, does the smaller sailboat and trawlers on occasion.


There are only a handful of surveyors within an hour or two. Could only make contact with those two and receptionist of a 3rd so far. But, I know none are SAMS/NAMS cause there's a list online --- all Portland.

Membership Roster for Oregon
Take the local surveyors credentials to your insurance broker and ask them to propose to one or two underwriters and see what they say. If the credentials are substantial for the type of vessel being surveyed they will probably accept them.
Paul L is offline   Reply With Quote
Old 07-12-2016, 21:30   #22
Marine Service Provider
 
Scott Berg's Avatar

Join Date: Jul 2011
Location: Aboard
Boat: Seaton 60' Ketch
Posts: 1,158
Re: Insurance advice for a newbie

Many of my customers who buy larger yachts without adequate experience (time in tonnage) are asked by their underwriter to have a captain aboard while they receive some tuition on their own vessel. We provide that service and find that after 30-40 hours of operation we can usually write a letter to the carrier confirming successful completion of on the water courses. When combined with classroom certs (USPS, USCG AUX, ASTA, USSailing, ASA, etc) the captain aboard restriction is removed. On a mid sized sailboat (under 50') you may get by with less but with 45-65 ft motor yachts that often sport over 1000 HP the companies are a shade more careful. Earlier recommendations of IMIS are right on; they are pros and very pro boater.
__________________
Scott Berg
WAØLSS
SV CHARDONNAY
Scott Berg is offline   Reply With Quote
Old 07-12-2016, 21:36   #23
Registered User
 
leftbrainstuff's Avatar

Join Date: May 2011
Location: San Diego CA
Boat: Liberty 458
Posts: 2,194
Re: Insurance advice for a newbie

We were in a similar situation when we purchased our Liberty 458 in 2013.

We provided Merkel with our sailing resumes. My wife has a long sailing history. I have an engineering background.

This and a survey was sufficient. We were restricted to us west coast with a north and south limit outside of sf bay.

I would advise going with a marine insurer. Household, car and the big name insurers are useless. They don't like niche risks so if they do give you a quote it will likely be expensive. They will also add conditions that effectively make it impossible to claim. This is their key skill set. There are specific marine clauses you want. There are some good posts on cruisers forum. Just search for insurance.

The example above is the exception and likely due to a nice adjuster and progressive having a good year. Have heard several horror stories.

We also provide our insurer with a list of upgrades each year. This helps to lower premium costs.

We have recently switched insurers thanks to our san diego based broker's diligence. Build that relationship.

Sent from my SM-N900T using Cruisers Sailing Forum mobile app
leftbrainstuff is offline   Reply With Quote
Old 08-12-2016, 13:23   #24
Registered User
 
maplemale's Avatar

Join Date: Sep 2016
Location: Yaquina Bay, Oregon
Boat: In the market for the time being!
Posts: 86
Re: Insurance advice for a newbie

Heard back from IMIS finally. Given our change of plans, he brokered me a quote from GEICO for a tiny fraction of the original amount and they don't care about surveys at all. Can get one from whoever I want... they don't actually even need to have one if it's liability insurance only. Makes sense!


Davidhoy,
I will look into that!
maplemale is offline   Reply With Quote
Old 08-12-2016, 13:50   #25
Registered User
 
MV Wanderlust's Avatar

Join Date: May 2016
Location: Palmetto, FL
Boat: "Wanderlust" -- 1999 Jefferson Rivanna 52'
Posts: 849
Images: 28
Re: Insurance advice for a newbie

We're in the same situation. New owners, no previous ownership and our boat is 30 years old. Previous crew time on dive boats helped and so did taking the Coast Guard Auxiliary course. But it's definitely possible. They placed us with Geico for now. We're paying higher than some due to the lack of experience but we'll renegotiate that in a year or so. Good luck. You'll find someone who will cover you. Brokers help.
MV Wanderlust is offline   Reply With Quote
Old 08-12-2016, 14:32   #26
Registered User
 
Davidhoy's Avatar

Join Date: Jul 2016
Location: Palm Beach Gardens, FL
Boat: Catalina 470
Posts: 989
Re: Insurance advice for a newbie

I had a similar situation back in July, and used a broker in Fort Lauderdale, Atlass Insurance, to get a very reasonable policy that includes liability and hull value. If you're interested in talking with them, speak to Scott Stamper, great guy.

I'd had my boat for less than a week when it got struck by lightning, and both Atlass and the independent adjuster that I worked with made everything right, no fuss.

-David
__________________

__________________
Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain
Davidhoy is online now   Reply With Quote
Reply

Tags
insurance

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
No insurance, no survey - no survey, no insurance cyclepro General Sailing Forum 45 15-08-2016 06:00
Canadian Life insurance and health insurance tmoandj General Sailing Forum 22 23-06-2016 18:57
Able Maritime Yacht Insurance and Sunderland Marine Insurance Arcticsailor Dollars & Cents 0 17-03-2014 09:56
Blue Water Insurance + Med Insurance Trish Affleck Rules of the Road, Regulations & Red Tape 1 01-04-2013 00:28
Hello Newbie Here with Newbie Questions tbc0460 Cruising News & Events 1 23-05-2011 14:15

Advertise Here


All times are GMT -7. The time now is 08:49.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.