Help! Geico is no longer writing for sailboats!!!!!

[jcapo]

From IMIS/Gowrie on Thursday 6/10: "We are reaching out to notify you Geico Marine, the underwriter of your boat insurance policy, has decided to stop issuing and renewing boat insurance policies through all independent insurance agents across the nation."

Called Geico and asked for a direct quote. Geico says they won't insure a 42' boat.

The good news is that we surveyed this time last year to switch to Geico from the IMIS Jackline policy to save some $$$.


John
Tayana V42 Passages

[CoryW]

Request a quote for www.HighSeasLowRates.com

[timb7734]

Geico just insured my 52’ Krogen, did it online

[hpeer]

We just got an email from our broker saying Geico was exiting the business and wont rewrite policies. Gowerie, the briker, says they are looking for alternatives.

[Mike OReilly]

Originally Posted by hpeer

We just got an email from our broker saying Geico was exiting the business and wont rewrite policies. Gowerie, the briker, says they are looking for alternatives.

That sucks H... such a PITA. Hope you find a decent replacement.

Is this for your big boat? If you want info on the broker/underwriter I found for our boat, don't hesitate to ask.

[hpeer]

Thanks Mike, I appreciate that.

Off topic, life is conspiring against our making NL this summer. We have a 4 apartment rental unit in Philly. Tenants of 19 years are vacating their apartment June 30. We will have to do a big rehab., mostly because the building needs AC. So it looks like I will he swinging a hammer and acting as Project Manager in Philly July/August if not September as well.

It is a mixed bag. I don't feel much like doing it but....at least its during a time when we can not do much else anyway. Been saying that for almost a year about the big boat, which is just jow getting finished. I need a vacation from retirement!

Clarenville this week.

[Mike OReilly]

We may not make it at all either. Plans have us heading west. We've already decided not to launch this year, so if the boat doesn't require personal attention, we might hold off till 2022.

Don't work too hard on your renos. And let me know if I can help with the insurance, or other NL stuff.

[sail sfbay]

Geico is an odd insurance company.........they send me emails weekly requesting to insure my 2005 sailboat but do not want to insure my 1984 powerboat valued 2/3's less.

[Odyssea1]

Attempting to buy a 1980 Skye 51 in Panama. I intend to keep in there and live on it maybe 6-months per year. So far, no luck on insurance, which is stalling the purchase. U.S. firms clearly not interested due to location. International firms not interested due to vessel age. I just submitted an online application to edwardwilliam.com If they will insure me, I hope PuttingDoctor does get a commission. The reference will be more than worth it. If not, I will try others recommended here, so thanks all for the tips. If not, I will look for another boat in another location. Retired so I am flexible on locations.

[Odyssea1]

Update on Edward William: I put in an online application last night (on the recommendation of PuttingDoctor) and woke up this morning (Sunday in U.S.) to a quote; not only fast but half the price of the only other quote I have received. As I mentioned previously, all others declined coverage either due to location (Panama) or vessel age (1980). Color me impressed so far. I did note the prior comment about another less-than-ideal experience with EW and will review the coverage in detail. But at this point, just being able to insure this boat is a step forward. I was beginning to wonder...
Again, thanks for all the tips and info provided in this forum.

[jcapo]

Originally Posted by timb7734

Geico just insured my 52’ Krogen, did it online

Perhaps they still do high $$$ but not 42ft 135K boats.


Or maybe you will get a cancellation notice next month.


John
Soon to be re-retired
Passages Tayana V42

[TabbyCat]

Originally Posted by jcapo

From IMIS/Gowrie on Thursday 6/10: "We are reaching out to notify you Geico Marine, the underwriter of your boat insurance policy, has decided to stop issuing and renewing boat insurance policies through all independent insurance agents across the nation."

Called Geico and asked for a direct quote. Geico says they won't insure a 42' boat.

The good news is that we surveyed this time last year to switch to Geico from the IMIS Jackline policy to save some $$$.


John
Tayana V42 Passages

Very sorry to all of you who received that notice. Yes, it's true, Geico (GMIC) is sending out non-renewals to all the boats insured through independent agencies. Some who currently have their boats insured with Geico will not be grandfathered in- your boat may now be too big, too old or spend too much time (more than 4 months) in the Bahamas for their new stricter underwriting guidelines. Geico also recently withdrawn from the charter market, and has also stopped covering any boats moored in the Caribbean. We do work with a number of other underwriters, and look forward to hearing from you and working through this.

[TabbyCat]

Originally Posted by Odyssea1

Update on Edward William: I put in an online application last night (on the recommendation of PuttingDoctor) and woke up this morning (Sunday in U.S.) to a quote; not only fast but half the price of the only other quote I have received. As I mentioned previously, all others declined coverage either due to location (Panama) or vessel age (1980). Color me impressed so far. I did note the prior comment about another less-than-ideal experience with EW and will review the coverage in detail. But at this point, just being able to insure this boat is a step forward. I was beginning to wonder...
Again, thanks for all the tips and info provided in this forum.

PLEASE research this forum.

[wholybee]

I am curious. Isn't the main reason people join BoatUS for the insurance? A few years ago, BoatUS switched to Geico to underwrite BoatUS policies. If Geico is effectively exiting the boat insurance business, where does that leave BoatUS? I would expect BoatUS to either find a new underwriter, or cease to exist.

[rslifkin]

Originally Posted by wholybee

I am curious. Isn't the main reason people join BoatUS for the insurance? A few years ago, BoatUS switched to Geico to underwrite BoatUS policies. If Geico is effectively exiting the boat insurance business, where does that leave BoatUS? I would expect BoatUS to either find a new underwriter, or cease to exist.

The TowboatUS side of the business is still pretty large.