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Old 18-10-2021, 12:15   #1
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Join Date: May 2008
Location: Honolulu
Boat: John Traylor - Cutter Rigged Sloop - 65'
Posts: 168
Insurance assistance needed...Liability only for 65' Sailboat

Aloha sailors!

I'm struggling to find liability only insurance for a 1990 65' Custom build U.S. sailboat that I'm sailing to Hawaii with in January, 2022.

I need a current liability policy that is in effect so that I may get on the waiting list for a slip in Kewalo Basin on Oahu.

The difficulty is related to the length of the vessel and liability only.

I've tried Markel and ALL the other generic insurance companies like, Geico, Progressive, Farmers Insurance, etc.

If there are insurance agents monitoring threads or someone who can point me in a direction that is helpful, I'd be eternally grateful!

Mahalo!
Matt
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Old 18-10-2021, 12:34   #2
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Join Date: Feb 2016
Location: Charleston, SC
Boat: J-24; J-105
Posts: 31
Re: Insurance assistance needed...Liability only for 65' Sailboat

Try Gowrie Group, http://www.gowrie.com/ I believe I have heard them recommended on the forum before. As long as you have good experience and a good recent survey they should be able to provide a solution.

Best of luck.
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Old 18-10-2021, 13:41   #3
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Location: Cruising the world
Boat: Hylas 54
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Re: Insurance assistance needed...Liability only for 65' Sailboat

I've tried the "liability only" thing recently and not found a company that would write one. The insurance market is really really bad right now. I wish I could be more optimistic for you.
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Old 21-10-2021, 06:55   #4
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Boat: John Traylor - Cutter Rigged Sloop - 65'
Posts: 168
Re: Insurance assistance needed...Liability only for 65' Sailboat

After spending hours on the phone providing information to a handful of agents I'm happy to report the following:

State Farm offered, by far, the best price for the coverage I was looking for. I actually couldn't believe my eyes!

Here is some backstory...
Prior to leaving Hawaii, I was insured with Markel with liability for our 65' cutter rigged sloop. That premium was around $800/year.

Around 2020, the state of Hawaii began a requirement that they be listed as an additionally insured entity on vessels moored locally to cover their ass in case of accidents and potential "clean-up" costs. Some underwriters then began to require full coverage on vessels in Hawaiian waters. This, of course, raises the out of pocket cost for boaters already struggling to get by.

Recent survey put market value of our vessel at $190k; most underwriters won't insure for market value if you paid less than the market value for your vessel.

Concepts Special Risk Quote for full coverage
Premium $3,599; Hull Coverage 78K; Deductible $11,700; In the event of cancellation by the Assured minimum of 25% of premium deemed earned.

State Farm Quote for full coverage
Option #1: Premium $567; Hull Coverage 80k; Deductible 2k;
Option #2: Premium $1764; Hull Coverage 200k; Deductible 2k;

As I get more quotes, I'll update this post.
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