Boat Insurance for international cruising

[doublewide]

We use Jack Martin. See jackmartin.com. We have been pleased.

[chuckr]

When we first got our boat we used Bill Hodgens of YachtInsure and he was great --

We changed to IMIS and what a great job. They work with us on our cruising plans and we have not had to pick them up off the floor yet. This year we told them we wanted to sail the Black Sea and they said if you go past XX longitude they would have some restrictions but would give us a rider. We notified them that we were about to cross the line and they wrote the rider immediately and worked with us on the time to keep the cost down. Simply great to work with.

What till IMIS hears what I want to do next year.

[Al Golden]

"What till IMIS hears what I want to do next year."

We just got approval to write nav to Cuba by Markel in our Jackline program, so we can write yachts anywhere on Earth now. BUT, no Lunar missions...

[Lantau]

Originally Posted by valhalla360

It won't help with ocean crossing but if you will be in an area for a while, you might consider local insurance.


We picked up a policy in Spain, no survey required for $300/yr. In the states it was running $900/yr (just coastal waters similar coverage)

I would second this kind of advice. If you plan to return home, or plan to stay for a prolonged period someplace, finding an agent in one of those places may result in a lower quoted cost. They can sell you a basic annual policy and then add the cruising component to it for the time you need it.

No good if you plan to sail wherever your heart desires for as long as it holds out.

Some years ago I checked Pateneus and was shocked at the price for comprehensive coverage. Maybe things have changed since then.

[wyb2]

This thread is a little old but wanted to add something for future readers.

Seen a few votes for Pantaenuis, and I'm sure they are great, but if you got your boat on the cheap don't bother. Official line was "vessel does not meet minimum hull value for intended navigation." Requested agreed value was $30-$35K (can't remember the exact value I put on the form), intended use was east coast US and Caribbean.

[jmtindle3]

For 4 years I used London Marine which had great rates and super service. They covered me all over the Caribbean. My friends got hit by lightning in Panama with almost $30K damage. Paid off right away. They are based in London. Google them

[chuckr]

Originally Posted by Al Golden

"What till IMIS hears what I want to do next year."

We just got approval to write nav to Cuba by Markel in our Jackline program, so we can write yachts anywhere on Earth now. BUT, no Lunar missions...

As it happened we did make our goal in 2017. But made up for it in 2018 and we made Israel - and IMIS did not even blink and said hey great and we will write a rider to cover you. It was not expensive and if fact was much less than we envisioned.

But given my thinking right now maybe some smelling salts will be in order for 2019 but not sure. just keep a few on hand.

IMIS is great to work with.

[b_rodwell]

Just to extend this topic a little. Which companies will cover Australian boats owned by Ozzie’s and cruising internationally?

I have only been able to find 3 - Pantaenius, Topsail and Baileys. Does anyone know of any others?

Thanks

Brian

[SSgtPitt]

Thanks for all the replies. I’m the OP.
We’re leaving Corpus Christi TX the end of this month; Nov 2018 and intend to cruise the Bahamas / Caribbean Islands and wherever the wind and whim takes us until Hurricane season 2019. At which point we’ll decide to run for home or head for Grenada. We’re not sure yet. We have no set intinerary, just cruise around and explore, meet new people and leave the grind behind us for awhile.
We made our last payment on the boat this week, so it’s free and clear. Now we want to make sure that if we run into anything or anything runs into us that we’re covered 100%.

[bobnlesley]

[QUOTE=valhalla360;2150186]...if you will be in an area for a while, you might consider local insurance. ..picked up a policy in Spain...$300/yr. In the states it was running $900/yr.../QUOTE]

One of the foibles of the industry? We've noticed that local/home waters cruising insurance is similarly priced on either side of the Atlantic. But take your European yacht to the Caribbean/US East coast and your premium will triple, similarly should a North American yacht come over to sail Europe, his policy premium triples too. For the ocean crossing I'd suggest that's fair enough, but do the Insurers on either side really believe that coastal cruising on the 'other side' is 3x more dangerous and a 3x greater risk? Given that even those Companies who have a presence/write policies on both sides of the pond do it too, it would seem more likely that they've just found the market will stand the rip-off.