Turned Down for Insurance

[rw58ph]

I would contact a boat/marine broker and let them find insurance for you. If you can also try to bundle all your insurance, auto, boat, home RV as the premium is usually cheaper in total as they have more premium. Most business companies bundle their insurance.

[Hud3]

Insurance underwriters look at the boat parameters, of course, but they also look at the experience level and circumstances of the boat owner(s). Could that be why they turned you down?

[Jim Cate]

Well, this may sound odd, but if shopping for insurance, I would be interested in dealing with such a company... that is, one who does not insure "just anybody" who applies! Any insurer who does not filter their applicants re experience and boat characteristics is obviously going to have higher pay out costs, and that greater cost will be passed on to all of their clients.

This is hard on newbies to be sure, but why should an experienced and skilled yottie have to subsidize the errors of the less skilled? Some insurers, I believe, do have varying premium rates that reflect such factors, and that is a step in the right direction. But, I can understand why a company might flatly refuse to consider that route and simply turn down the application.

Cheers,

Jim

[bfloyd4445]

Originally Posted by Rogerco103

Help. I;m just about to close on a 1988 Hunter Legend and I'm being turned down for insurance by Pantenius of NY despite a positive marine survey, the insurance underwriters refuse to tell me why. Now I'm thinking they know something I don't. Any body out there with similar experience, should I back away?

just use Boats US. I keep going back to them for insurance over the years and this time I'm not switching again. They are reasonable and have tons of info on boats.

BoatUS – Boat Insurance, Boat Towing, Boat Lettering, Boating Apps

[jeremiason]

Originally Posted by bfloyd4445

just use Boats US. I keep going back to them for insurance over the years and this time I'm not switching again. They are reasonable and have tons of info on boats.

BoatUS – Boat Insurance, Boat Towing, Boat Lettering, Boating Apps

When I arrived in Florida in May, I shopped five insurance companies through my Broker.

BoatUS was the most expensive, by over $1000 annually. I would definitely shop around before going with BoatUS, to make sure you are getting the best price

[LakeSuperior]

Pantaneous US insured us no problem from 2008 to 2012 for under $500,000. I speculate it may be a combination of boat type and experience. It seemed like we got insured with almost no effort. We gave them a survey and a brief statement of experience and we were insured. Then we had to send some $$. I thought the cost of the insurance was very reasonable.

[Tim R.]

I got a policy last year from Pantaneous for our boat(less than $500k). It is my understanding that the $500k stipulation applies to boats in the Caribbean during hurricane season.

Surprising they did not give you a reason. My friends(exact same model boat) tried to get insurance with them and it was difficult and frustrating. My experience was nothing but professional and courteous.

[gonesail]

boat US will usually insure older boats like a 1988 hunter.

[Jack Tar]

Boat U.S. is a broker not actually an insurance company. They will find a policy for you.

[Tim R.]

Originally Posted by Jack Tar

Boat U.S. is a broker not actually an insurance company. They will find a policy for you.

So is Pantaneous. My policy is underwritten by Liberty mutual.

A few years back I was turned down by BOATUS because my boat was too old.

[MarkSF]

When I was shopping around for insurance, the 3 best quotes were :

Boat US
Geico
State Farm

[John A]

All insurance coverage from the same carrier is not the same. Note what's covered and the deductible. Recent debates about the ACA has shown that you could be comparing apples to oranges.

[Tim R.]

Originally Posted by MarkSF

When I was shopping around for insurance, the 3 best quotes were :

Boat US
Geico
State Farm

I assume you mean the lowest priced quotes. Boatus traditionally is pretty good at claims but I have heard horror stories about Geico and State Farm. Not all ins companies are created equal and certainly the cheapest is not always the best.

[OnTour]

Originally Posted by Rogerco103

Help. I;m just about to close on a 1988 Hunter Legend and I'm being turned down for insurance by Pantenius of NY despite a positive marine survey, the insurance underwriters refuse to tell me why. Now I'm thinking they know something I don't. Any body out there with similar experience, should I back away?

There is more than one insurance company out there ya know .

[bfloyd4445]

Originally Posted by jeremiason

When I arrived in Florida in May, I shopped five insurance companies through my Broker.

BoatUS was the most expensive, by over $1000 annually. I would definitely shop around before going with BoatUS, to make sure you are getting the best price

Wow that's odd, I just got a quote from them on a 1975 32 foot westsail of $545 a year and that seemed low to me. I pay about the same on my 2012 Wooldridge boat I have insured with them. When I called around they were the cheapest and the price includes towing.