Third Party Liability Insurance for older sailboats?

[svloki]

My boat is almost 30 years old and I keep getting denied for a new "liability only" insurance with the boat out of the US cruising.

Can anybody recommend a reputable agent / insurer that covers boats +25 years old while cruising out of US waters? At this time I only want the required liability cover for boatyards and marinas.

The only company that gave a quick yes was "Edwin William" of Spain, but I have read mixed reviews on that outfit.

Thanks in advance for any leads.

[LoudMusic]

Are they giving you a reason for denying liability only? That seems like a pretty safe bet for them.

[Alan Mighty]

Originally Posted by svloki

My boat is almost 30 years old and I keep getting denied for a new "liability only" insurance with the boat out of the US cruising.

Can anybody recommend a reputable agent / insurer that covers boats +25 years old while cruising out of US waters? At this time I only want the required liability cover for boatyards and marinas.

You're after Third Party Liability insurance for several jurisdictions? Or just in one jurisdiction?

For the sake of argument, let's say you are just concerned with one jurisdiction.

The past two years, the easiest way is to buy the Third Party Liability insurance from an insurer that sells the insurance in that jurisdiction. The days of insurance brokers selling into any jurisdiction may be at an end.

So let's say you were cruising in Malaysian waters and happened to want Third Party Liability insurance to cover you when berthed in marinas in Malaysia or boat yards in Malaysia. Your easy answers might then include:

https://www.qbe.com/my/personal-insu...pleasure-craft
https://www.aig.my/business/products...lity-insurance

[svloki]

Originally Posted by LoudMusic

Are they giving you a reason for denying liability only? That seems like a pretty safe bet for them.

Yes several companies in the region have said no boats over 25 years old. One offered full cover only, at an extremely high premium, and many clauses, like 3 on board etc.

[svloki]

Originally Posted by Alan Mighty

You're after Third Party Liability insurance for several jurisdictions? Or just in one jurisdiction?



https://www.qbe.com/my/personal-insu...pleasure-craft
https://www.aig.my/business/products...lity-insurance

Sadly no luck there:

QBE said no yachts over 28 years old
AIG local agent said they do not offer yacht insurance (just ships and commercial vessels)

[Alan Mighty]

Originally Posted by svloki

Sadly no luck there:

QBE said no yachts over 28 years old
AIG local agent said they do not offer yacht insurance (just ships and commercial vessels)

Ouch! Sad to learn that.

Drowning man clutching at straws now:

Etiqa (https://www.etiqa.com.my/v2/business...sset-liability) does car, home etc insurance and business liability. I've used them in the past.

Tune (www.tuneprotect.com) insures cars older than 20 years in MY (most other insurers do not).

RHB Insurance (www.rhb.com.my) also insures cars older than 20 years in MY (again, most other local insurance companies do not touch old cars).

I've used both RHB and Tune for elderly vehicles in MY in the past, but using Pos Malaysia as an intermediary/agent.

[Alan Mighty]

Originally Posted by Alan Mighty

Ouch! Sad to learn that.

Drowning man clutching at straws now:

And Tokio Marine does business liability insurance and has 'marine' in its name!

https://www.tokiomarine.com/my/en/bu...liability.html

[svloki]

Originally Posted by Alan Mighty

Ouch! Sad to learn that.

Drowning man clutching at straws now:

Etiqa (https://www.etiqa.com.my/v2/business...sset-liability) does car, home etc insurance and business liability. I've used them in the past.

Tune (www.tuneprotect.com) insures cars older than 20 years in MY (most other insurers do not).

RHB Insurance (www.rhb.com.my) also insures cars older than 20 years in MY (again, most other local insurance companies do not touch old cars).

I've used both RHB and Tune for elderly vehicles in MY in the past, but using Pos Malaysia as an intermediary/agent.

No joy.


Etiqa- Does not insure yachts (just ships and cargo)
RHB: Does not insure yachts Tune Protect: Does not insure yachts


Talking with Tokio Marine about a quote. They are actually my health insurance provider, big outfit.

[hafa]

We're with Tokio Marine, but our boat is "only" 28 years old...

[Alan Mighty]

Originally Posted by svloki

Talking with Tokio Marine about a quote. They are actually my health insurance provider, big outfit.

Tokio Marine has been relatively aggressive entering the markets of SE Asia, including in Myanmar where, in a joint venture with a Myanmar insurer, are writing lots of car insurance. Two other Nipponese insurers are also enjoying expanding into SE Asian markets.

Hope Tokio Marine comes to the party for you.

[George DuBose]

Don't know where you are, but I have been with Eerdman's in The Netherlands for 12 years. I have had great service and low rates from them.

My Pearson 36 is from 1973, I paid the VAT to the Dutch and had a Post-Construction Assessment survey.

[NirvanaBob]

My vessel is 50 years of age. I have 3rd party liability coverage from Oversea Insurance. They are lovated in Shelter Island, San Diego, CA. Phone number is 619-222-1111. And I am sailing in Central America so I know they provide coverage offshore. Cheers

[svloki]

Originally Posted by NirvanaBob

My vessel is 50 years of age. I have 3rd party liability coverage from Oversea Insurance. They are lovated in Shelter Island, San Diego, CA. Phone number is 619-222-1111. And I am sailing in Central America so I know they provide coverage offshore. Cheers

Thanks Bob they sound like a good shop, getting a quote

[Latecomer]

Originally Posted by svloki

Thanks Bob they sound like a good shop, getting a quote

Let's know how things work out with this company. Basically, we have similar needs, and it seems there's a change amidst the insurers policy as we transition into the great reset of the economy.

[Pelagic]

Can anyone give some indicative premium costs for 3rd Party liability in Asia and what is the liability cover?

The few marinas here dont seem to give a minimum amount required.... It just seems to be part of their checklist that you have "some" liability.