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17-07-2023, 08:04
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#31
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Registered User

Join Date: Jan 2011
Location: Caribbean live aboard
Boat: Camper & Nicholson58 Ketch - ROXY Traverse City, Michigan No.668283
Posts: 6,691
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Re: Insurance for Bahamas, Caribbean?
We were dropped annually for the Caribbean. Excuses; Boat too big, boat too old, no live aboards etc. We finally connected with ANJO while in Antigua. Lower cost, going into six years now. Listed hurricane hole marinas OK or stay with the boat and move out of the path.
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17-07-2023, 08:09
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#32
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Registered User
Join Date: Jan 2018
Location: Annandale NJ
Boat: 1998 Gozzard 36
Posts: 42
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Re: Insurance for Bahamas, Caribbean?
Our Gozzard 36 is insured through BOAT US, which is actually underwritten by Geico. We got a Bahamas extension just by asking which covers us to Turks and Cacos, no additional cost. You might try that.
I can understand actually the issue with a single engine. In the Bahamas you can't just call Seatow or Towboat US. If you break down there, and can't get the boat home without an engine, you have a big problem. Even if your boat sails well, you need to be able to charge batteries and so forth, and get through cuts depending on where you are. If I ever bought a different boat, it would have two engines. Our diesel exploded near Nassau, and it was a big problem. I would imagine that if you had an inexpensive boat, it would be tempting to just abandon it there rather than trying to get it repaired there, hence the insurance issue.
Getting an extension to go the Caribbean was more difficult, and we gave up on that.
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17-07-2023, 08:12
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#33
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Registered User
Join Date: May 2020
Location: Oklahoma (home) , East Coast Florida (Currently)
Boat: Jeanneau 40 DS
Posts: 168
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Re: Insurance for Bahamas, Caribbean?
Quote:
Originally Posted by soopad00pa
Update - still having trouble getting a policy that'll cover from Maine to the Bahamas but I know there are a bunch of people here that make this trip regularly.
What do you guys do for insurance and is it a hassle?
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First 2 years with geico on our 2002 jeanneau 40 DS started off at $2800 and rose to $3600. We just changed to Statefarm $2900. Same coverage for all of the US and the Bahamas.
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17-07-2023, 08:36
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#34
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Registered User
Join Date: May 2010
Posts: 11
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Re: Insurance for Bahamas, Caribbean?
I've got coverage with Markel American Insurance. For a 41 foot, 25 year old Beneteau, it costs me $1693 annually. That includes coverage to the Turks and Caicos. We spent six weeks in the Bahamas this past spring, hit maybe half a dozen marinas. No one asked for insurance. Then again, given some of the crazy expensive boats we were parked near, I would not consider going in there without decent coverage.
When I got the boat, I checked with my Allstate agent, who covers everything else, alas. Their policy was cheap, but they did not offer additional coverage beyond coastal US.
My main sailing buddy, who has a slightly older Island Packet 37, has insurance (I'm pretty sure) through BoatUS. To take it to Bermuda, from NC, they required a pricey rider, plus a full, haul-out survey!
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17-07-2023, 12:12
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#35
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Registered User
Join Date: May 2007
Location: Home in Toronto for suimmer
Boat: Voyage 38 Catamaran
Posts: 214
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Re: Insurance for Bahamas, Caribbean?
Catch 22. It is hard to get insurance in the Eastern Caribbean unless your boat is worth at least half a million dollars and is less than 20 years old. However, most marinas now require at least liability insurance as well as almost all of the boatyards.
__________________
Billyehh
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17-07-2023, 12:15
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#36
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Registered User
Join Date: Nov 2018
Location: NJ
Boat: Mariner 38 Pilot House
Posts: 199
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Re: Insurance for Bahamas, Caribbean?
I think with your boat that progressive is the best option as they cover the Bahamas. I have one of their policies and found it ticked most of the boxes for a US based boat such as yours. It’s not cheap for a boat that’s over 40. I had Gieco previously and they dropped me on my boats 40th birthday.
I pay approximately $3400 per year.
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17-07-2023, 17:15
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#37
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Registered User
Join Date: Mar 2011
Location: Brisbane
Boat: S&S 40
Posts: 1,045
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Re: Insurance for Bahamas, Caribbean?
Quote:
Originally Posted by MicHughV
Not to voice a contrary opinion...but you could just say to hell with it...and sail without insurance.
Be your own insurance, maintain the boat well, make smart decisions, etc.
This whole " insurance" thing is a bit of a racket in my humble opinion. Rates are sky high, deductions are ridiculous, seasons are short, etc and so on, and lordy...should you ever file a claim on any kind fugetabout ever finding insurance again.
These days there are insurances for every possible thing. Something wrong with society that we are at this point. Blame the lawyers.
If you had to factor in home much money you pay for insurance every month, you will see that after a year or more, it is a tidy sum. Put that money aside in a savings account as your own "insurance" bank.
'jes sayin'....
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Indeed...
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02-10-2024, 12:25
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#38
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Registered User
Join Date: Mar 2013
Location: Maine, Panama
Boat: Pacific Seacraft 24 and Beneteau 38
Posts: 5
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Re: Insurance for Bahamas, Caribbean?
Regarding going bare- I shared your philosophy/recommendation with a couple of dockmasters on arrival at Caribbean marinas. They smiled… and pointed seaward. As long as you live underway or on the hook, and never visit a marina for more than fuel, not having proof of insurance is an option. Otherwise…
The age of litigation has reached into the remotest parts of the globe.
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02-10-2024, 13:05
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#39
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Registered User
Join Date: May 2008
Posts: 3,751
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Re: Insurance for Bahamas, Caribbean?
The Carribean is VERY, VERY difficult on a US policy but several carriers have good policies for the Bahamas.
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02-10-2024, 13:16
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#40
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Registered User
Join Date: Mar 2013
Location: Maine, Panama
Boat: Pacific Seacraft 24 and Beneteau 38
Posts: 5
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Re: Insurance for Bahamas, Caribbean?
Thanks for pointing out that distinction; it will help my planning decisions. I appreciate this forum a lot.
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02-10-2024, 13:39
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#41
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Registered User
Join Date: Oct 2023
Posts: 294
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Re: Insurance for Bahamas, Caribbean?
what insurance are we discussing? Liability-only has been easier to get and of course cheaper. Full coverage not so much
Going self-insured is grossly unfair to the people with whom you may collide. At a bare minimum liability should be carried, it's plain decency. Unless you are so rich you can pay, and then we wouldn't be worried about insurance cost, would we?
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02-10-2024, 13:46
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#42
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Registered User

Join Date: Jan 2011
Location: Caribbean live aboard
Boat: Camper & Nicholson58 Ketch - ROXY Traverse City, Michigan No.668283
Posts: 6,691
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Re: Insurance for Bahamas, Caribbean?
As I noted above, we were repeatedly dropped by all northern carriers, US and UK. We switched to ANJO while we were in Antigua at Faulmouth harbor for about a 60% reduction. ANJO insures only in the Caribbean. Never needed help but their reputation was good.
We found some of the regular US carriers unbelievably thick headed and illogical. Our annual cruise plan is cruising November to June and June to November on the hard at Power Boats in Trinidad, 8 degrees north and well east of hurricane paths. One prospective carrier insisted we be north of the Florida-Ga border or no coverage. Dumbest possible place for a boat too big for the ICW or the bridges.
If you stay with your boat in hurricane season ANJO will still insure. You are required to sail away from the path. It’s easy since there is usually about five days advanced warning and the paths through the eastern Caribbean are extremely predictable. Find a safe harbor 30-50 miles south of the path and you will be safe. Most Caribbean countries permit sheltering for named storms without formalities, including Trinidad.
BTW, Trinidad and Tobago are both wonderful places. Tobago deserves at least a ten day shore hopping cruise. Trinidad at Chagauramos, Power Boats, is safe, well run, affordable, great skilled trades. I bicycle into the nearby rainforest four days a week. Many excellent tours right from the yard. In June, I fill my backpack with mangos on each ride. The cruisin community is tight and we party together.
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02-10-2024, 13:47
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#43
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Registered User
Join Date: Jan 2023
Posts: 2,148
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Re: Insurance for Bahamas, Caribbean?
Quote:
Originally Posted by CarlF
The Carribean is VERY, VERY difficult on a US policy but several carriers have good policies for the Bahamas.
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This is nonsense. Thousands of boats are cruising the Caribbean with policies underwritten by US companies.
You DO have to be a little more sophisticated than just calling Geico and Allstate.
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02-10-2024, 13:48
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#44
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Registered User

Join Date: Jan 2011
Location: Caribbean live aboard
Boat: Camper & Nicholson58 Ketch - ROXY Traverse City, Michigan No.668283
Posts: 6,691
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Re: Insurance for Bahamas, Caribbean?
Quote:
Originally Posted by Leadfree
what insurance are we discussing? Liability-only has been easier to get and of course cheaper. Full coverage not so much
Going self-insured is grossly unfair to the people with whom you may collide. At a bare minimum liability should be carried, it's plain decency. Unless you are so rich you can pay, and then we wouldn't be worried about insurance cost, would we?
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We found Liability only to be unattainable. Nobody would consider it for us in eight years of Caribbean live aboard. Good luck.
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02-10-2024, 14:18
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#45
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Registered User
Join Date: Jan 2023
Posts: 2,148
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Re: Insurance for Bahamas, Caribbean?
Quote:
Originally Posted by Leadfree
what insurance are we discussing? Liability-only has been easier to get and of course cheaper. Full coverage not so much
Going self-insured is grossly unfair to the people with whom you may collide. At a bare minimum liability should be carried, it's plain decency. Unless you are so rich you can pay, and then we wouldn't be worried about insurance cost, would we?
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If you decide that "self-insurance" is the way to go for your own hull coverage, that is your choice. Although if I see your face on GoFundMe after you have an accident, I will mock you mercilessly.
For liability insurance, going without is stupid, and irresponsible, Unless of course you happen to have immediate access to a credit line of $1,000,000 to pay off to the boats that are damaged when your boat sets fire to the marina. It's your fault, you own it. If you are considering NOT getting liability insurance, you are ignorant of the possible consequences you are asking OTHER people to carry for you. Or maybe you just don't care.
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