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Old 27-07-2020, 18:46   #16
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Re: Mediterranean Insurance - Cost and Recommendations

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Greeks are allergic to tax

No vat on Wilmington Delaware flags

Iíve never heard of FATCA being an issue

For years Iíve not been able to secure crew insurance for Americans ... too much liability
FATCA forces financial entities to comply with reporting requirements set out by the US government. They have to do so when dealing with US citizens. Imagine, ABCDEU insurance company has 10001 clients, and only 1 is a US citizen. Covering that single client requires disclosing mammoth amounts of paperwork at specified intervals, in specified formats. Many companies, rightly so, want no part of it. I know first hand about FATCA and the onerous requirements and have to comply with it annually. "Land of the free...." don't get me started.

The only poster on this thread that has referred to crew insurance is you. This thread is about boat and third party liability insurance.
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Old 11-04-2021, 01:05   #17
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Re: Mediterranean Insurance - Cost and Recommendations

[QUOTE=Jenneau Owner;2953433]Last year I paid £620:00 for a 45ft Jenneau, UK registered, sum assured £120,000. Cruising no further than 30degE longtitude. (Inc a few xtras, dinghy, liferaft etc)

Hi sorry I know this is an old post ,but it wasnít clear which company you use ,are/were you using PANTAENIUS .Iím awaiting a quote from them but everyone else is quoting £1000-1100 on an Oceanis 41 £130000 to 35 East?
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Old 12-04-2022, 09:51   #18
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Re: Mediterranean Insurance - Cost and Recommendations

Greg K,
Thanks for your comment about getting liability insurance for Spain.

I have a Tartan 30 I'm sailing to Spain this summer. I will self-insure it, but seem to need proof of liability insurance to land in Spain. You mentioned you have that.

Is there a broker or a Website I can use? Can you direct me one more step. I've looked online and found nothing...

Thanks!
James
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Old 12-04-2022, 10:22   #19
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Re: Mediterranean Insurance - Cost and Recommendations

Proof of liability insurance in Spain is only checked when staying at a marina or a boatyard.

Who will sell you insurance depends on many factors, but include the owner's nationality, the boat's flag, etc... There isn't a comprehensive website that I am aware of.
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Old 17-04-2022, 16:23   #20
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Re: Mediterranean Insurance - Cost and Recommendations

Greg
Who can I call, or what website can I go to, in order to get just liability insurance for Spain? We're comfortable with self insuring but I understand to land in Spain, we need proof of liability insurance. I've got a 1976 Tartan 30 and we're sailing there from Boston in June. We'll be under a US flag.

I've called 8 different brokers and done 10's of internet searches, but have only turned up your comment here on this forum. Help me Obi-Wan! You're my only hope.

James

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Pantaenious refused to renew my insurance in 2019 stating that they no longer insure either Canadian or US flagged boats in the Med ( ours is Canadian flagged).

I now have local third party liability ( compulsory ) Spanish insurance at the annual cost of about 63 Euros. For all practical purposes, basically self insured. The boat is a 1983 Shannon 28, and neither Pantaenious nor my current Spanish insurer would provide hull coverage on the basis that the boat is too old.

If, like me, you are comfortable with only third party liability, compulsory coverage in the Med is quite inexpensive.

Greg
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Old 19-04-2022, 07:57   #21
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Re: Mediterranean Insurance - Cost and Recommendations

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Greg
Who can I call, or what website can I go to, in order to get just liability insurance for Spain? We're comfortable with self insuring but I understand to land in Spain, we need proof of liability insurance. I've got a 1976 Tartan 30 and we're sailing there from Boston in June. We'll be under a US flag.

I've called 8 different brokers and done 10's of internet searches, but have only turned up your comment here on this forum. Help me Obi-Wan! You're my only hope.

James
Don't think it will work in your situation, James. From my experience, to get Spanish coverage your boat will either have to be Spanish registered or you'll need to provide proof of Spanish residency.
In my case, I am a Spanish resident.

Maybe some other EU insurers may offer coverage if you can provide proof that the boat is permanently based in the Med... ie, VAT paid and annual moorage contract. Maybe... certainly worth looking into once you're here.

When I sailed across in May 2002, my coverage was for the US and Caribbean, and the insurance was already expired on 04.10.2002 or something like that. Of course, the officials in Horta read it as October 4, 2002. Who am I to dispute their understanding...LOL. By September, I found cheap UK liability only coverage for the Med and was all good.

Not suggesting you should do likewise, of course, but you might have to get creative.
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Old 19-04-2022, 08:15   #22
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Re: Mediterranean Insurance - Cost and Recommendations

On the recommendation of a friend I contacted this company. http://www.offshorerisk.com/

They can offer full coverage and liability policies for Europe and my Atlantic crossing. No problem with my 35 year old boat but they do require a recent survey. US resident, US documented boat.
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