Insurance Info......Going Through the Canal

[Gabbywray]

I don't know if I'm in the right place for this thread, but here goes. We plan on leaving San Diego the end of Oct. We are on our 470 Catalina, my insurance told me the insurance cost will jump 75% above what I have now, because we are going to be going all the way down through the Canal. Gulp!!! I think it's already expensive, then to add Mexican Insurance on top of that.....lets just say Wow! I would appreciate ANY input on the insurance process for going through the Canal. We are going to be landing in Wilmington N.C.when we are done with the voyage..... Thanks

[jeremiason]

We are currently cruising down in Central America on our Catalina 470 (Hull #145).

When we left Mexico, we changed to Pantaenus Insurance after getting qoutes from five different American and Foreign Insurances Companies.

The qoutes were all over the board with the high being Jackline for $7200 per year.

In addition, changing deductables and hurricane restrictions will raise or lower your rates. Some companies offer a box of Lat and Long for hurricane restrictions and others say get out of the Caribbean all together. Obviously if you have a $500 deductible the annual premium will be higher than if you have a $4000 deductible.

Also make sure when you get the policy you have them indicate your vessel is insured during a Panama Canal Passage.

On a $355,000 hull value with a $4k deductible we pay $2257 per year. This has a Hurricane exclusion zone from June 15th to Nov. 1st, which includes all of the Caribbean Sea and Gulf of Mexico. On the Altlantic side we have to be above 30.5 N during those times. They didn't put a hurricane restriction on the Pacific side.

The policy allows us to sail both sides of North & Central America, Caribbean and Gulf of Mexico down to 5 N Latitidue and up to 225 from the coast... This is a little deceiving since you can actually travel 450 ocean miles from point to point (i.e.: between islands)

Only other restrictions is can't go to Haiti, Cuba and Venezula...

Contact me direct if you want more information or go to the C-470 Yahoo Group.

[belizesailor]

Originally Posted by jeremiason

...
On a $355,000 hull value with a $4k deductible we pay $2257 per year...

Damn, good rate! Who's your broker?