How Much is Blue Water Cruising Insurance

[Burge]

Hi All,

before I start getting quotes does anyone mind sharing approximate cost for blue water cruising insurance for a 44ft yacht with 4 crew one of which (skipper) has RYA YM.

This is for circumnavigation, and I know there are lots of variables but just looking for ball park. Route is planned via Cape Of Good Hope.

Also recommended blue water insurance companies would be great.

Thanks

[travellerw]

Between 1.5 and 2.5% of hull value.

[carstenb]

I've just received a quote from Pantanius for insuring a 40 footer (crew of 2) with a replacement value of $170K for a circumnavigation (not via Cape Horn). Includes Accident insurance, liability and comprehensive coverage. Excluden areas are Red Sea, Gulf of Aden, Malaka Strait and South China Sea. So I guess Cape Horn is included.

$5k

[Burge]

Originally Posted by carstenb

I've just received a quote from Pantanius for insuring a 40 footer (crew of 2) with a replacement value of $170K for a circumnavigation (not via Cape Horn). Includes Accident insurance, liability and comprehensive coverage. Excluden areas are Red Sea, Gulf of Aden, Malaka Strait and South China Sea. So I guess Cape Horn is included.

$5k

Hi is that 5K USD?

[serpa4]

Originally Posted by Burge

Hi is that 5K USD?

Per year I assume?

[Paul L]

It is generally more cost effective to limit your insurance to the area you are actually traveling in. Get a quote for the limits of navigation for where you will be for the next 6 months or perhaps a bit more. Then update the policy as you more on, modifying the limits of navigation. Paying for the whole world while you are in an area that has relatively low rates, such as the Carribean, is a waste.

[monte]

Yes the rates will change depending on the area and most companies will pro rata and send a bill if you enter a more expensive area. For us, with a hull value around 450K, med is 4K, Caribbean is 6K and pacific 8K (USD)
Panteanius and topsail are pretty good and similar prices.

[carstenb]

Originally Posted by Burge

Hi is that 5K USD?

yes USD 5K

[Temptress]

Originally Posted by Burge

Hi All,

before I start getting quotes does anyone mind sharing approximate cost for blue water cruising insurance for a 44ft yacht with 4 crew one of which (skipper) has RYA YM.

This is for circumnavigation, and I know there are lots of variables but just looking for ball park. Route is planned via Cape Of Good Hope.

Also recommended blue water insurance companies would be great.

Thanks

So you don't need worldwide cover - you need cover for the area you are in. FYI- we use Pantaneius currently - have used GJW and Lloyds I the past.

What I do is insure for a given area that you will be in for 3 or 4 months - say Caribbean/USA/Atlantic - annual premium is around $2k US. Then when I move into the Pacific change the area to cover the Pacific/OZ/NZ - I get charged pro rata say an extra $1k -

Following year Australia/NZ cover is about $900 for the year - then change that as I move into Indonesia, AXA can provide Yacht insurance for Indonesia up to Thailand - so shop around then beat up your existing company on price - they usually comply.

Can all be done over the phone and very simple. Much more cost effective that having a 'world wide' policy

[Nick & LA]

Expect about 1% of the agreed hull value... So a $500k boat will cost you $5k per year


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