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Old 23-11-2020, 09:23   #1
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New Insurance Gulf Coast--Impossible?

Hi all,

Just bought a new (to us!) boat (Alberg 37). We're in Texas and have been turned down by every insurer thus far. The reason? "We are not underwriting boats in the Gulf states at this point in time". We are seeking liability only, not full hull value.

Anyone out there who can help us find insurance or offer tips? Is anyone else struggling with getting insurance in a Gulf coast state?
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Old 23-11-2020, 12:45   #2
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Re: New Insurance Gulf Coast--Impossible?

Plenty of threads have discussed insurance options. So who has turned you down?
Geico? Progressive? Other marine specialty insurers?


Many are not doing liability only and that may be the issue here.
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Old 23-11-2020, 12:51   #3
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Re: New Insurance Gulf Coast--Impossible?

Every single one of the insurers you mention have turned us down. Prior to posting I reviewed all of those threads and tried the specialty insurers mentioned there, as well. I've also offered to pay for full coverage plus liability, to no avail.

Apparently, Lloyds and some others have pulled out entirely from insuring any Gulf Coast/Carib boats.
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Old 23-11-2020, 13:16   #4
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Re: New Insurance Gulf Coast--Impossible?

Try one more time after official end of hurricane season (Nov 30). If you asked before in period of of expected landfall - they may not open new policies and we had a lot of hurricanes in gulf last few month. I have just re-newed my insurance to next year so the companies are still in business.
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Old 24-11-2020, 10:57   #5
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Re: New Insurance Gulf Coast--Impossible?

Same here. Just renewed BoatUS/Geico on Nov 20 for a year.
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Old 24-11-2020, 11:43   #6
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Re: New Insurance Gulf Coast--Impossible?

Just renewed with Progressive, my rate went down.
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Old 24-11-2020, 11:52   #7
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Re: New Insurance Gulf Coast--Impossible?

I feel your pain. I tried changing to a new carrier to expand coverage area but had to stick with Progressive as a renewal as no one is writing for Gulf of Mexico and beyond. But I feel lucky to be able to get property coverage instead of just liability insurance.

Maybe try a broker? I use Home for my boat in Seabrook/Kemah area.
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Old 24-11-2020, 12:34   #8
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Re: New Insurance Gulf Coast--Impossible?

In a completely different part of the world, but same deal: insurance firms just wouldn't write a new policy for an old boat, just renew existing policies.
Eventually found I could only get a very expensive third party policy from Pantaenius.
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Old 24-11-2020, 12:57   #9
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Re: New Insurance Gulf Coast--Impossible?

I presume your boat is 30 to 50 years old. I would guess that is your primary problem, rather than the Gulf.
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Old 24-11-2020, 13:29   #10
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Re: New Insurance Gulf Coast--Impossible?

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Originally Posted by Dooglas View Post
I presume your boat is 30 to 50 years old. I would guess that is your primary problem, rather than the Gulf.
I just bought full coverage insurance for my 35 year old boat (actually purchased a month ago from Farmers). I’m located in the gulf coast. Unless they very recently changed their policy, you might give them a try.
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Old 24-11-2020, 15:55   #11
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Re: New Insurance Gulf Coast--Impossible?

Just today I was talking with a boat surveyor who said that many insurers are either not insuring boats or reducing the value of the boat for coverage. Why? Rise in the number and severity of storms. This is what climate change means.
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Old 24-11-2020, 16:17   #12
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Re: New Insurance Gulf Coast--Impossible?

Quote:
I presume your boat is 30 to 50 years old. I would guess that is your primary problem, rather than the Gulf.
You would think but I have a 40 year old 32' sailboat in Maine and a 35 year old 42' sailboat in Texas. The Maine boat was easy and cheap to insure. The Texas boat was hard to get any coverage for and the policy is 5X more money than the Maine boat but does have slightly more coverage. The Texas policy would be a lot less if I had the boat North of Georgia/SC border during hurricane season.

Coverage is a lot easier to get and a lot cheaper on an old boat if you can not be in hurricane waters.
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Old 24-11-2020, 19:06   #13
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Re: New Insurance Gulf Coast--Impossible?

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Originally Posted by dadster3 View Post
Just today I was talking with a boat surveyor who said that many insurers are either not insuring boats or reducing the value of the boat for coverage. Why? Rise in the number and severity of storms. This is what climate change means.
https://en.wikipedia.org/wiki/List_o...e_18th_century

Climate change has been hell, all right.
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Old 24-11-2020, 19:31   #14
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Re: New Insurance Gulf Coast--Impossible?

Catamaran sailboat fully insured with American Modern Insurance Group. Fishing boat was insured with BoatUS thru this month, but switched to Foremost. Both boats are in Port Aransas, Texas. Hurricane belt with no requirement to pull or relocate for named storm.

Call Kevin Severance in Kemah. He is independent agent and can price out multiple companies.
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Old 24-11-2020, 20:06   #15
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Re: New Insurance Gulf Coast--Impossible?

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Originally Posted by dadster3 View Post
Just today I was talking with a boat surveyor who said that many insurers are either not insuring boats or reducing the value of the boat for coverage. Why? Rise in the number and severity of storms. This is what climate change means.
The same climate change that has happened since Humans recorded hurricanes hundreds of years ago.

Every 22 years.

The last peak was 2005, we are entering another one that came early because of La Nina.

DO people not learn 5th grade science anymore?

My cat sneezed yesterday, "proof of global warming".
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